Latest News
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.
Betandyou
Betandyou shortlisted for three international awards
Despite the cold winter, the iGaming industry is entering its hottest season — awards season. This is the time when international experts evaluate the most innovative products, technologies, and services, highlighting the companies that set the standards for the year ahead. This season, Betandyou is kicking off with a strong start, making it onto the shortlist of several prestigious international awards.
Betandyou has been named a finalist at the European iGaming Awards in the category Sports Betting Platform of the Year, which recognizes brands delivering exceptional innovation, operational excellence, and user experience. At the same time, the brand has been shortlisted in the same category at the International Gaming Awards, one of the most influential global iGaming awards, where judging focuses on technology, UX, responsible gaming, and platform reliability.
Additionally, Betandyou has made it to the finals of the LCB Awards, earning recognition in three separate categories. This award is particularly meaningful because it combines expert evaluation with feedback from the real user community, reflecting both industry acknowledgment and players’ trust.
The Betandyou team commented on these nominations:
“This is an important milestone for us and a sign that our approach to product and service resonates with both the professional community and our users. We are grateful to the experts, partners, and players for their trust. Being shortlisted is already an achievement, and the wins are just the next step.”.
The team would like to thank partners, industry experts, and users for their support and high evaluation of the project. Awards season is just beginning, but Betandyou is already gaining international recognition as a strong player in the sports betting market.
Betandyou is a next-generation sports betting platform offering a seamless and secure experience for players worldwide. With a focus on innovation, fast payouts, and user-friendly design, Betandyou continues to set new standards for the online betting industry.
The post Betandyou shortlisted for three international awards appeared first on Gaming and Gambling Industry Newsroom.
Latest News
Betandyou shortlisted for three international awards
Despite the cold winter, the iGaming industry is entering its hottest season — awards season. This is the time when international experts evaluate the most innovative products, technologies, and services, highlighting the companies that set the standards for the year ahead. This season, Betandyou is kicking off with a strong start, making it onto the shortlist of several prestigious international awards.
Betandyou has been named a finalist at the European iGaming Awards in the category Sports Betting Platform of the Year, which recognizes brands delivering exceptional innovation, operational excellence, and user experience. At the same time, the brand has been shortlisted in the same category at the International Gaming Awards, one of the most influential global iGaming awards, where judging focuses on technology, UX, responsible gaming, and platform reliability.
Additionally, Betandyou has made it to the finals of the LCB Awards, earning recognition in three separate categories. This award is particularly meaningful because it combines expert evaluation with feedback from the real user community, reflecting both industry acknowledgment and players’ trust.
The Betandyou team commented on these nominations:
“This is an important milestone for us and a sign that our approach to product and service resonates with both the professional community and our users. We are grateful to the experts, partners, and players for their trust. Being shortlisted is already an achievement, and the wins are just the next step.”.
The team would like to thank partners, industry experts, and users for their support and high evaluation of the project. Awards season is just beginning, but Betandyou is already gaining international recognition as a strong player in the sports betting market.
Betandyou is a next-generation sports betting platform offering a seamless and secure experience for players worldwide. With a focus on innovation, fast payouts, and user-friendly design, Betandyou continues to set new standards for the online betting industry.
2025 BGA State of the Industry Report
MENA Emerges as Global Growth Engine for Blockchain Gaming, BGA 2025 Report Finds
The Middle East and North Africa (MENA) has emerged as the fastest-rising region in blockchain gaming, now representing nearly one-fifth of all industry professionals surveyed by the Blockchain Game Alliance (BGA), according to the newly released 2025 BGA State of the Industry Report.
The findings were unveiled on stage at the Global Blockchain Show Abu Dhabi 2025 by Sebastien Borget, Co-President of the BGA and Co-Founder of The Sandbox, during a panel discussion titled ‘Web3 Gaming’s Big Bet’ with Yat Siu, Chairman of Animoca Brands, and Cathy Hackl, CEO of Future Dynamics, moderated by Wissam Younane, CEO, Entrepreneur Middle East.
“Sharing this year’s BGA State of the Industry Report in Abu Dhabi shows the promise and huge potential of blockchain gaming’s next phase, and MENA’s rapid growth is a big signal that new regions around the world are stepping into leadership roles,” said Borget. “What we’re seeing in the data is an industry becoming more global, more disciplined, and more focused on building great games for real players.”
MENA’s representation has surged from virtually no presence in the survey sample just five years ago — under 1% in 2021 — to 19.8% of respondents in 2025, marking the most pronounced regional shift since the survey began. When combined with Africa’s steady growth, rising from 0.5% in 2021 to 5.5% in 2025, the two regions now account for more than a quarter of all global responses to the survey.
This momentum reflects a broader realignment in the gaming and technology landscape. MENA has become one of the world’s fastest-growing gaming markets, underpinned by a youthful, digitally-native population and extensive government investment into gaming, esports, and digital infrastructure. As global capital increasingly flows into the region through strategic acquisitions, large-scale development initiatives, and major esports events, blockchain gaming’s rising professional footprint signals that MENA is actively shaping the future of the sector.
The BGA’s growth across MENA and Africa has been strongly attributed to the leadership and regional advocacy of Yasmina Kazitani, who was elected by the BGA membership as the organization’s first female Co-President in March 2025.
An Algerian-born ecosystem builder with deep ties across both regions, Kazitani has focused on community partnerships and grassroots outreach in emerging markets, broadening participation while championing access for previously underrepresented groups. She is also a long-standing advocate for gender diversity and inclusion as Co-Founder of the Women in Web3 Alliance, working to reduce barriers to entry and elevate female leadership within the industry.
“The survey results reflect what we see on the ground: new communities with new talent and stewardship,” said Kazitani. “With more voices entering the conversation, we are reminded that diverse representation is essential because this is what influences the ideas, products, and priorities that will define our industry’s next phase. A broader range of perspectives strengthens decision-making, contributes to a more resilient ecosystem, and ultimately underpins a global industry that better reflects its players and creates games that resonate across cultures.”
This increasing focus on diversity and broader participation was reflected directly in the survey methodology itself. For the first time, the BGA survey was offered in multiple languages beyond English, resulting in nearly a quarter of responses being submitted in other languages including French, Spanish, Portuguese, and Japanese, with the majority received in Arabic. This expansion has provided a more accurate picture of industry participation while lowering barriers to inclusion in non-English-speaking markets.
Beyond its geographic findings, the report provides a comprehensive snapshot of a maturing industry navigating a challenging market environment. Respondents highlight rising confidence in regulatory clarity as a key driver of growth, alongside an increasing focus on high-quality game development and sustainable business models. At the same time, industry professionals identify scams and fraud as the greatest threats to credibility, funding scarcity as the most pressing operational constraint, and AI-enabled exploitation as a growing concern.
Key takeaways from the BGA 2025 State of the Industry Report are highlighted below:
Respondent Demographics
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19.8% of respondents come from the Middle East and North Africa (MENA), up from under 1% in 2021.
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22.7% female participation marks the highest level recorded in the survey’s history.
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32.6% of respondents work in studios or publishing, dominating industry representation.
Industry Drivers
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64.4% expect policy and regulation to have a positive impact on industry development.
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29.5% cite high-quality game launches as the primary driver of future industry success.
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27.5% point to sustainable, revenue-driven business models as a key growth factor.
Industry Challenges
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36.0% view scams and fraud as the greatest threat to industry credibility.
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32.6% report lack of funding or investment as their company’s biggest operational challenge.
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38.9% fear AI-enabled cheating, bots, and exploits as the largest risk of AI adoption.
The post MENA Emerges as Global Growth Engine for Blockchain Gaming, BGA 2025 Report Finds appeared first on Gaming and Gambling Industry Newsroom.
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