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.
Conferences
Win Systems arrives at GAT Expo Cartagena with its latest innovation
Win Systems, a leading provider of technology solutions for the gaming and entertainment industry, will be attending GAT Expo Cartagena 2026 on March 25–26 in Cartagena de Indias. Visitors can find the company at Stand A7, where it will highlight its latest electronic roulette innovations and casino solutions.
At the event, Win Systems will unveil Colors, the next evolution of its successful electronic roulette line. This includes an innovative 6-position wall-mounted version designed to optimize floor space while delivering maximum performance and visual impact on the gaming floor.
Customization and Player Engagement
Colors stands out for its high level of customization, allowing operators to tailor visual elements and configurations to align with their brand identity and market preferences. Whether in compact or large-scale setups, Colors is engineered to capture attention and enhance player engagement from the very first spin.
A key innovation is its dynamic paytable, which enables players to select from four different paytable options. This includes multipliers of up to 120x on inside bets, offering both increased excitement for players and higher revenue potential for operators. By combining design, performance, and flexibility, Colors delivers a highly versatile and profitable solution for modern casinos.
Enhanced Slot Offerings
In addition to Colors, Win Systems will showcase its renowned Sublime and Rhapsody slot machines, now featuring new game releases that blend advanced graphics, innovative mechanics, and high performance. These updates reinforce Win Systems’ commitment to creating engaging content that maximizes both the player experience and operator profitability.
Strategic Industry Presence
“GAT Expo Cartagena is a key platform for the Latin American gaming industry,” said Manuel Wladdimiro, Sales Director for Central America & the Caribbean at Win Systems. “It’s an ideal opportunity to present our latest innovations and strengthen our presence in the region.”
With a proven international track record and a constantly evolving product portfolio, Win Systems continues to prioritize innovation, performance, and results-driven design. Attendees are invited to visit Stand A7 to experience these new developments firsthand.
The post Win Systems arrives at GAT Expo Cartagena with its latest innovation appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Latest News
PureWager and MIRACL announce new partnership
MIRACL, the world’s only single-step multi-factor authentication (MFA) provider, today announces a strategic partnership with PureWager Group, an emerging leader in next-generation sports betting technology. This collaboration will enable effortless player access via MIRACL’s passwordless, single-step login, boosting security and improving user experience across PureWager’s network.
PureWager Group is at the forefront of delivering innovative retail and online sportsbook solutions across North America, with a particular focus on Tribal Enterprises. Their platform empowers clients with Class 2 and on-premises mobile gaming solutions, alongside engaging social sportsbook and iCasino experiences.
MIRACL replaces traditional login methods entirely, providing passwordless authentication through a simple PIN. Fully compliant with GDPR, AML, and other international standards, MIRACL eliminates the need for usernames, passwords, or separate 2FA tools. With a proven 99.9% login success rate, the solution ensures players enjoy seamless access, while operators reduce potential revenue loss from login friction.
Sandro Di Michele, Chief Revenue Officer at PureWager Group, commented:
“Simplicity sits at the heart of the PureWager platform. As we expand our next-generation sportsbook ecosystem across North America, it’s essential that players can log in quickly and securely. MIRACL’s single-step authentication removes unnecessary friction while delivering the highest levels of security and compliance. This partnership strengthens our ability to offer a modern sportsbook experience that’s intuitive for players, efficient for operators, and scalable for future growth.”
Rob Griffin, CEO of MIRACL, added:
“MIRACL is fast becoming the standard for secure, frictionless logins across iGaming and sports betting. By partnering with leading next-gen technology providers like PureWager, we are removing password-related login barriers while supporting operators in meeting evolving regulatory requirements for multi-factor authentication. This collaboration will give more players access to a secure, seamless experience, keeping them engaged and loyal, while protecting their accounts with best-in-class security.”
MIRACL Trust eliminates the need for passwords, SMS codes, push notifications, or physical key cards. Leveraging patented Zero Knowledge Proof (ZKP) technology, no personal data is stored or transmitted, meaning there are no “honey-pots” vulnerable to attack, and the solution remains fully GDPR-compliant. Players can log in using a simple PIN or biometric scan in just two seconds, enjoying an average success rate of 99.88%.
By combining ease of access with robust security, MIRACL ensures the online gaming experience is both safe and convenient. For operators, this reduces fraud risk and strengthens the integrity of their platforms, while players benefit from a smooth, uninterrupted gaming experience.
The post PureWager and MIRACL announce new partnership appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Arman Tsarukyan
Choice Gaming Launches High-Energy Crash Game Arm’s Punch
Choice Gaming is taking crash games to the next level with the launch of Arm’s Punch, a high-energy title created in collaboration with MMA superstar Arman Tsarukyan. The partnership brings the adrenaline and intensity of the fight arena directly to players’ screens, where every round feels like stepping into the ring and every multiplier offers the chance to land a big win.
Set inside a buzzing boxing arena, Arm’s Punch delivers non-stop action as multipliers climb higher with every passing second. Players must decide the perfect moment to cash out before the round crashes, balancing risk and reward to maximise their potential winnings.
The game offers manual and automatic cash-out options, the ability to place multiple bets per round, and a live feed displaying bets and results in real time, creating a fast-paced and immersive experience that keeps players constantly engaged.
Anna Vardanyan, Partnership Manager at Choice Gaming, said:
“We’re excited to introduce Arm’s Punch and deliver a crash game that combines speed, excitement and real win potential. The collaboration with Arman Tsarukyan adds an extra level of energy to the experience, bringing the thrill of combat sports into the gameplay.”
With lightning-fast rounds, explosive gameplay and the involvement of one of MMA’s rising stars, Arm’s Punch delivers a dynamic crash experience designed for players who enjoy both the strategic timing of crash games and the electrifying atmosphere of combat sports.
More than just a game, Arm’s Punch aims to deliver a true knockout experience for fans of fast-paced gaming and fight-inspired action.
The post Choice Gaming Launches High-Energy Crash Game Arm’s Punch appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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