Welcome to our dedicated page for Gan news (Ticker: GAN), a resource for investors and traders seeking the latest updates and insights on Gan stock.
GAN Limited (GAN) historically reported that it was a North American B2B technology provider of real money internet gaming solutions and an international B2C operator of internet sports betting. Its news flow has included regular financial results, operational updates for its GameSTACK platform and Simulated Gaming offering, developments in its Coolbet online sports betting division, and detailed information about its corporate transaction with SEGA SAMMY.
Company news releases have described GAN as a business-to-business supplier of internet gambling software-as-a-service solutions predominantly to the U.S. land-based casino industry, and as a business-to-consumer operator of proprietary online sports betting technology with market leadership positions in selected European and Latin American markets through Coolbet. Earnings announcements have discussed trends in B2B and B2C segment revenue, operating expenses, net income or loss, adjusted EBITDA and key performance indicators such as B2B Gross Operator Revenue, B2B Take Rate, B2C Active Customers, B2C Marketing Spend Ratio and B2C Sports Margin.
A major focus of GAN’s recent news has been its merger with an affiliate of SEGA SAMMY HOLDINGS INC. Through a series of releases, the company reported milestones such as clearance from the Committee on Foreign Investment in the United States (CFIUS), approvals from gaming regulators including the Nevada Gaming Commission, amendments to the merger agreement and, ultimately, completion of the merger. A Business Wire announcement dated May 27, 2025 states that SEGA SAMMY, through SEGA SAMMY CREATION INC., acquired all outstanding securities of GAN and that GAN’s ordinary shares would cease to be traded on the NASDAQ Global Stock Market at the close of trading that day.
This news page serves as a historical archive of GAN-related announcements, including quarterly and annual financial results, key performance metric definitions, and updates on the regulatory and transactional steps that led to GAN becoming a wholly owned subsidiary of SEGA SAMMY’s affiliate and ceasing to be a publicly traded company.
GAN Limited (NASDAQ: GAN) has announced an exclusive national partnership with WynnBET to enhance its sports betting operations across the U.S. This partnership will utilize GAN Sports technology for online sportsbooks, starting with the WynnBET Sportsbook at Encore Boston Harbor in Massachusetts, set to launch in early 2023. GAN aims to expand its reach in iGaming states through the Super RGS content aggregation delivery system, reinforcing its position in the U.S. iGaming market and promising future growth opportunities.
GAN Limited (NASDAQ: GAN) has announced the resignation of Chief Financial Officer Karen E. Flores, effective November 25, 2022. Brian Chang, the Senior Vice President and Corporate Controller, will serve as the interim CFO while the search for a permanent replacement is underway. CEO Dermot Smurfit acknowledged Flores' contributions to the company's growth, especially during its transition to a U.S. public entity and the acquisition of Coolbet. GAN continues to provide innovative gaming solutions in the B2B and B2C sectors.
GAN Limited (NASDAQ: GAN) has reported its unaudited financial results for Q3 2022, showing total revenues of $32.1 million, consistent with the previous year. B2B revenues rose 14% to $12.7 million, driven by platform growth. However, B2C revenues fell to $19.4 million, reflecting foreign currency fluctuations. Active customers surged 31% year-over-year. The net loss decreased to $6.9 million from $8.7 million, with adjusted EBITDA improving to $2.1 million. The company is focused on cost rationalization and anticipates challenges from the foreign exchange environment and European market headwinds.
GAN Limited (NASDAQ: GAN) has appointed Eric J. Green to its Board of Directors, enhancing its leadership with significant capital markets and gaming sector experience. Green, with over 25 years in investment management, currently serves as Chief Investment Officer at Penn Capital, managing approximately $2 billion in assets. His expertise is expected to support GAN's strategy to become a premier B2B technology provider in the U.S. gaming industry. The company focuses on internet gambling software solutions and has developed GameSTACK™, which licenses to U.S. casino operators.
GAN Limited (NASDAQ: GAN) will release its financial results for Q3 2022 on November 14, 2022, after market close. A conference call to discuss these results is scheduled for 4:30 PM ET on the same day, with dial-in options available for U.S. and international participants. GAN is a leader in B2B technology for real money internet gaming and operates the Coolbet brand in sports betting. The company provides its clients with the GameSTACK™ software system, facilitating internet gaming and virtual gaming solutions.
GAN Limited has launched GAN Sports for Island View Casino in Gulfport, Mississippi, marking its first U.S. deployment since acquiring COOLBET in 2021. The launch occurred on September 27, 2022, featuring twenty kiosks and a mobile sportsbook, enabling omnichannel betting. GAN aims to enhance its B2B revenues from U.S. sports betting through innovative technology and strategic partnerships. The company anticipates a significant financial contribution from this high-margin segment, aligning with its growth strategy.
GAN Limited (NASDAQ: GAN) reported a 2% revenue increase to $35.0 million for Q2 2022, driven by a 36% rise in B2B revenue, offsetting a decline in B2C revenue. The company revised its full-year revenue expectations to $142.5 million to $152.5 million and Adjusted EBITDA to $10 million to $15 million. Despite a net loss of $38.3 million and operating expenses soaring to $62.3 million, GAN anticipates improved profitability through cost-saving measures and the forthcoming launch of GAMESTACK 2.0. The company is now licensed in 16 U.S. states and has seen growth in active customers and Gross Operator Revenue.
GAN Limited (NASDAQ: GAN), a leading B2B technology provider for real money internet gaming, will release its Q2 2022 financial results after market close on August 15, 2022. A conference call will follow at 4:30 PM ET on the same day to discuss these results. GAN provides software-as-a-service solutions primarily to the U.S. casino industry and operates proprietary online sports betting technology through its Coolbet division. More details can be accessed at www.GAN.com.
GAN Limited (NASDAQ: GAN) has repurchased approximately 303,000 shares for about $1 million, averaging $3.30 per share, under its existing repurchase authorization. A total of $4 million remains available under this plan, which expires on November 30, 2022. Future repurchases will be made from available cash and operational cash flow, subject to market conditions. Shares will be canceled after repurchase, supporting shareholder value and potentially enhancing earnings per share (EPS).
GAN Limited (NASDAQ: GAN) has extended its share repurchase program, allowing the purchase of up to $5 million of ordinary shares until November 30, 2022. Repurchases will be made using cash on hand and operations, returning bought shares to treasury for cancellation. The specific timing and number of shares will depend on market conditions and management discretion. GAN emphasizes that this authorization does not guarantee the purchase of a set number of shares.