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GAN Reports Third Quarter 2024 Financial Results
GAN Limited reported its unaudited financial results for the third quarter ended September 30, 2024.
Seamus McGill, GAN’s Chief Executive Officer, said: “I couldn’t be more pleased with the progress our team members have made to deliver revenue growth while concurrently lowering our cost structure. Our top-line growth of 24% compared to the prior year was driven by B2B revenue growth of more than 60% while operating costs fell by nearly 10%. We remain focused on delivering a leading product offering for our US B2B clients and our international B2C business.”
Mr. McGill added: “In September, we recently received approval from the Nevada Gaming Commission for our planned merger with SEGASAMMY. We continue to work through the remaining regulatory requirements and anticipate a successful closing in early 2025.”
Third Quarter 2024 Compared to Third Quarter 2023
• Total revenue of $37.1 million increased 24% driven by an increase in the B2B segment.
• B2B segment revenue was $16.4 million versus $10.2 million. The increase was primarily due to an expansion of our B2B offerings in the state of Nevada and the recognition of revenue related to a partner exit in Michigan.
• B2C segment revenue was $20.7 million versus $19.6 million. Growth in Europe was driven by increased player activity, which was offset by reduced player activity and unfavorable exchange rates in Latin America.
• Operating expenses were $25.1 million versus $27.8 million. The decrease was primarily attributable to the Company’s overall reduction of compensation costs and reduced headcount realized as part of ongoing cost saving initiatives, as well as lower depreciation and amortization expenses as a result of intangible assets fully amortizing in the prior year.
• Net income of $2.1 million versus a net loss of $8.2 million improved primarily due to increased revenues and decreased operating expenses.
• Total segment contribution was $27.2 million versus $20.6 million, which was driven primarily by increased revenue in the B2B segment.
• Adjusted EBITDA was $5.4 million versus a loss of $2.5 million. The increase was driven by increased revenues and lower operating expenses resulting from the aforementioned factors.
• Cash was $36.5 million as of September 30, 2024, versus $36.9 million as of June 30, 2024.
• B2C Active Customers declined primarily driven by limited customer acquisition in Latin America.
• B2B Gross Operator Revenue totaled $610.4 million versus $424.1 million in the prior year quarter, a 44% increase. The increase was driven primarily by organic growth in Pennsylvania, New Jersey, Ontario, and Connecticut.
The post GAN Reports Third Quarter 2024 Financial Results appeared first on European Gaming Industry News.
Andrea Rossi
REEVO Goes Live with Betsson in Brazil
REEVO has announced that it is now live with Betsson in the Brazil market, marking another important milestone in the companies’ expanding global partnership. This launch represents the next step in REEVO’s rollout across Betsson’s international markets and reinforces the company’s growing presence across Latin America.
As part of the launch, Betsson Brazil now features both REEVO’s aggregation platform and REEVO’s in-house games, delivering a powerful combination of premium third-party content alongside REEVO’s original titles through a single, seamless integration.
Brazil represents one of the most dynamic and fast-growing gaming markets in the region. By going live with Betsson in this market, REEVO continues to strengthen its international distribution network while supporting leading operators with scalable technology, engaging content, and efficient integration.
Karl Grech, Head of Business Development at REEVO, said: “Going live with Betsson in Brazil is a fantastic milestone for REEVO and an important step forward in our expanding partnership. Brazil is one of the most exciting markets in the region, and we are proud to bring both our aggregation platform and our in-house games to Betsson’s players. This launch reflects our commitment to supporting operators with high-quality content, reliable technology, and scalable solutions that help them grow.”
Andrea Rossi, Commercial Director for LatAm at Betsson, said: “The launch of REEVO’s content on our Brazilian platform expands the range of entertainment available to our players in one of the fastest growing markets in the region. Brazil is an important market for Betsson, and partnerships like this allow us to continue strengthening our offering with high quality content that reflects local player preferences. We look forward to working with REEVO as we continue to grow in the newly regulated Brazilian market.”
The post REEVO Goes Live with Betsson in Brazil appeared first on Americas iGaming & Sports Betting News.
AI
QCI to Showcase Agentic Platform Capabilities at IGA 2026
Quick Custom Intelligence (QCI), a leading provider of AI-driven operations software for tribal gaming resorts, announced it will showcase its evolving QCI Agentic Platform at the Indian Gaming Association (IGA) Tradeshow & Convention, March 31–April 2, 2026, at the San Diego Convention Center (Booth #2735).
The QCI Agentic Platform reflects the continued advancement of the company’s enterprise system, enabling operators to move from real-time insight to real-time action across gaming, marketing, player development, and hotel operations. Designed for on-premise and hybrid environments, the platform supports secure, property-level AI deployment while maintaining full operational control.
Rather than introducing a new system, QCI’s approach extends the capabilities operators already use—bringing analysis and execution closer together within a unified operational environment.
“This is a continuation of the platform our customers already rely on. We’re building on what works and extending it, so operators can act on information faster, without changing the way their business runs,” said Dr. Ralph Thomas, Co-Founder and CEO of QCI.
The QCI Agentic Platform builds on QCI’s established product suite, including:
• AGI56.1, a major platform release featuring more than 1000 enhancements across operations
• Chatalytics, QCI’s conversational analytics interface for real-time data access
• QCI Dispatch, a new core operational tool supporting real-time coordination and execution
Together, these capabilities enable operators to unify data, streamline workflows, and respond more quickly to changing conditions across the property.
Attendees will experience how QCI connects data, decision-making, and execution within a single operational system.
“We’re focused on practical improvements that help teams do their jobs more effectively. This is about making systems more responsive, more connected, and easier to use in day-to-day operations,” added Thomas.
The post QCI to Showcase Agentic Platform Capabilities at IGA 2026 appeared first on Americas iGaming & Sports Betting News.
Eeze
Eeze signs global partnership with EveryMatrix
Eeze, the next-generation casino supplier, has announced a comprehensive global distribution agreement with EveryMatrix, extending the reach of its live dealer and upcoming slots portfolio to EveryMatrix’s worldwide partner network.
Under the partnership, Eeze’s full range of live dealer titles, including its recently launched Fusion Roulette, alongside forthcoming slot releases, will be made available across EveryMatrix’s Game Aggregator Network. The deal covers EveryMatrix’s active markets globally, marking a key milestone for the supplier’s international expansion.
Mikko Hoglund, Partnership Manager at Eeze, said:
“Partnering with EveryMatrix is an important moment for us as we look to push our games to a wider network of players than ever before. We have a lot of exciting product releases to come in the next few months, and know that these games, as well as our existing portfolio, will be well received across EveryMatrix’s customer base.”
Bjorn Sjoberg, Chief Commercial Officer at EveryMatrix, added:
“We are very pleased to be adding Eeze’s full product suite to our aggregation offering. With best-in-class live products and an exciting array of RNG games on the roadmap, we’re confident that our customers will enjoy the differentiation these titles bring to market.”
With this partnership, Eeze strengthens its footprint in regulated markets and positions its Fusion Roulette and slot titles for maximum visibility, giving operators a compelling mix of content to offer players worldwide.
The post Eeze signs global partnership with EveryMatrix appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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