Latest News

GAN Reports Third Quarter 2024 Financial Results

Published

2 years ago

November 12, 2024

Niji Narayan

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Reading Time: 2 minutes

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.

Africa

Playson launches online casino games in Nigeria via BetKing deal

Published

36 minutes ago

June 10, 2026

Wladimir P.

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Playson has partnered with KingMakers to launch a selection of its online casino titles in Nigeria through the operator group’s sportsbook and gaming brand, BetKing.

Under the agreement, Playson will distribute a portfolio of games to BetKing players via the EveryMatrix aggregation platform. The supplier said the games have been rebuilt and optimised for African audiences.

First titles live include Coin Strike: Hold and Win, Energy Coins: Hold and Win, and Sevens & Fruits: 20 lines.

Conor Jenner, Senior Sales Manager at Playson, said: “Partnering with KingMakers is another exciting step in our expansion across Africa, a region that continues to present significant opportunities for growth and innovation.

“BetKing has built a formidable reputation and loyal player base in Nigeria and beyond, making them an ideal partner for our content. We are particularly pleased to launch with a selection of games optimised specifically for African markets, ensuring players receive a highly engaging entertainment experience from day one.”

Nick Baker at KingMakers, said: “Playson’s portfolio features a strong mix of proven-performing content and engaging gameplay, making this partnership an excellent addition to our casino offering.

“We are committed to delivering first-class entertainment experiences for our players, and integrating games tailored for our markets supports that ambition while strengthening the quality of content available through BetKing.”

The post Playson launches online casino games in Nigeria via BetKing deal appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Ariel Reem CEO at Games Valley

Games Valley adds Imagine Live content to its live casino aggregation platform

Published

36 minutes ago

June 10, 2026

Wladimir P.

games-valley-adds-imagine-live-content-to-its-live-casino-aggregation-platform

Deal brings Imagine Live’s 100+ active tables and multilingual studios in Armenia, Romania and Spain to operators via a single integration.

Games Valley has partnered with Imagine Live to expand its live dealer catalogue, adding the supplier’s live casino content to the Games Valley aggregation platform via a single integration.

Imagine Live operates live dealer studios in Armenia, Romania and Spain, and said it surpassed more than 100 active tables last year. The supplier also offers language-specific tables aimed at supporting localized live casino lobbies across markets.

Under the agreement, operators on Games Valley will be able to access Imagine Live’s live dealer titles, including classic table games and game show-style formats.

Ariel Reem, CEO at Games Valley, said: “Live casino has become one of the most important verticals for operators, but building a strong live casino lobby can still be complex, fragmented and time-consuming. At Games Valley, our role is to remove that complexity, bringing some of the best selection of live dealer content on the market via a single integration. We’re delighted to welcome Imagine Live to our growing live casino portfolio.”

Nadiya Attard, CCO at Imagine Live, added: “Games Valley has built a strong reputation as a modern, flexible aggregation partner for operators that want access to premium content without unnecessary integration friction. We are excited to make our live casino portfolio available through the platform and look forward to supporting operators across multiple regulated markets. Brazil is a particularly important focus for us, and we see significant opportunities to further expand our presence in the country’s fast-growing regulated market.”

The post Games Valley adds Imagine Live content to its live casino aggregation platform appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Latest News

PG Soft releases Super Wildrix slot with expanding wilds and multiplier wheel

Published

2 hours ago

June 10, 2026

Wladimir P.

pg-soft-releases-super-wildrix-slot-with-expanding-wilds-and-multiplier-wheel

The 5×5 video slot includes an Ante Bet option and Feature Buy, with a stated maximum win of 20,000x.

PG Soft has released Super Wildrix, a new 5×5 video slot built around expanding wild symbols and multiplier mechanics.

The title’s core mechanic is the Wildrix symbol, which lands with a x2 multiplier and expands to fill an entire reel. According to the company, all wins are multiplied by the total sum of active Wildrix multipliers when one or more expanded Wildrix symbols appear on the reels. Wild & Wildrix symbols substitute for all other symbols except Scatter.

A Free Spins Feature triggers with three, four or five Scatter symbols, awarding 10, 15 or 20 free spins. PG Soft said a Multiplier Wheel spins at the start of each free spin to reveal a multiplier between x2 and x100. If expanded Wildrix symbols land during the feature, their x2 multipliers are further multiplied by the wheel’s value before wins are paid. The feature can also award three extra spins if two Scatter symbols hit during free spins, and it can be re-triggered.

The game includes an Ante Bet option that increases the wager by 10x and, PG Soft said, guarantees at least one Wildrix symbol on every spin and free spin. A Feature Buy option allows direct access to the Free Spins Feature. PG Soft listed the maximum win as 20,000x the bet.

PG Soft’s spokesperson commented: “Super Wildrix is a heroically bold slot, putting players right in the middle of the action. The Expanding Wildrix symbol with its multiplier mechanics makes for real moments of excitement and the Multiplier Wheel during Free Spins can lead to some truly spectacular wins. We are thrilled to release a title that combines engaging gameplay with a story that really pulls players in from the first spin.”

The post PG Soft releases Super Wildrix slot with expanding wilds and multiplier wheel appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.