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.
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casino games
Groove says its aggregator library passes 20,000 casino games
Groove says it has surpassed 20,000 casino titles on its aggregation platform, up from 15,000 games two years ago. The company said the library now includes content from more than 150 providers and is available to partners worldwide through a single API.
According to Groove, the portfolio spans slots, instant wins, table games, crash games, live dealer and arcade-style content, alongside “emerging verticals including sweepstakes and crypto-native content.” The company said the catalogue is delivered through “one API, one back office, one pipeline,” and positioned the milestone as a curated expansion rather than a volume play.
Rachel Tourgeman, Head of Partnerships at Groove, said: “Twenty thousand games is a number. What matters is what sits behind it…” She added: “We don’t add studios for the sake of volume. We add them because they bring something distinctive: a mechanical innovation, a visual language, a player-engagement hook that our operators can’t get elsewhere. Our partners trust us to curate, not just collect. That trust is why we keep growing, and why the quality curve keeps rising alongside the quantity curve.”
Groove pointed to recent integrations including KingMidas Games (150+ mobile-first titles), Urgent Games and Bryogames, which it said offers “proprietary mathematics with real-time RTP customisation.” For operators, Groove said the full library is accessible via Groove Command, its centralised back-office product, with tools including content matching, regional segmentation and automated tournaments.
Yahale Meltzer, Co-Founder and CEO of Groove, said: “The aggregation space is crowded with platforms that offer ‘access’ and little else,” adding: “Twenty thousand games through a single API is not just scale. It is a statement.” Meltzer also claimed Groove’s “technology stack with predictive auto-scaling, atomic transactions, real-time compliance mesh” supports execution “across fragmented regulatory landscapes with precision.”
The post Groove says its aggregator library passes 20,000 casino games appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
Bragg Gaming
Mega Casino launches Bragg Gaming slot 10 Hot Diamond Desire as exclusive
Mega Casino has launched 10 Hot Diamond Desire, a new online slot developed by Bragg Gaming, as an exclusive title available only to Mega Casino players.
According to the companies, the release is intended to strengthen Mega Casino’s exclusive content line-up in the UK online casino market. Bragg Gaming said the game was created by its in-house development team and combines classic slot features with modern mechanics and a diamond-themed design.
The exclusive launch also extends the commercial relationship between the supplier and operator. Mega Casino already offers Bragg Gaming titles including Down The Chimney and Sevens & Suns.
Dom Aldworth, Head of Brand Marketing at Kinetic Digital said:
“Exclusive content remains a key pillar of our strategy and 10 Hot Diamond Desire is a great example of the kind of launch we want to bring to Mega Casino players. The game delivers a compelling experience while giving customers access to something genuinely unique. We’re pleased to be working with Bragg Gaming on this exclusive release and look forward to expanding our portfolio of exclusive content even further in the future.”
The post Mega Casino launches Bragg Gaming slot 10 Hot Diamond Desire as exclusive appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
appointments
OS Studios names Ishaan Arya country manager to lead India expansion
OS Studios has appointed Ishaan Arya as Country Manager for India, tasking him with leading the agency’s expansion across newly established hubs in Bengaluru, New Delhi, and Mumbai. The appointment was announced on 25 June, 2026 in Bengaluru.
OS Studios, a Project Worldwide agency, said it recently entered the Indian market and will deploy its ‘Fan Z’ approach for brands looking to engage with gaming, esports and live events audiences in South Asia. The company said the expansion will leverage the infrastructure and production capabilities of sister agency George P. Johnson (GPJ) India.
“The future of gaming will be shaped by the communities that care about it most, and few markets embody that more than India,” said John Higgins, CEO of OS Studios. “To build something meaningful, you have to be part of the culture, not looking in from the outside. Ishaan understands that better than anyone. He’s exactly the kind of leader we want building the future of OS Studios in India.”
In the role, Arya will oversee operations, drive strategic brand partnerships, and scale local capabilities, according to the company. “Brands are investing heavily in Indian gaming, but true fan experience is too often an afterthought,” said Rasheed Sait, Chief Growth Officer for India and South Asia at Project Worldwide. “Alongside GPJ India’s experiential footprint, OS Studios will set a new standard for fan engagement in the region.”
Arya previously co-founded The Esports Club and most recently served as Vice President of Partnerships at Nodwin Gaming, where he led Comic Con India. “A massive gap remains between brand intent and authentic community engagement in India,” said Arya. “I’m thrilled to leverage Project Worldwide and GPJ India’s operational strength to build culture-defining experiences for brands and fans alike.”
The post OS Studios names Ishaan Arya country manager to lead India expansion appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
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