Gan Ltd Stock Price, News & Analysis

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.

GAN Limited reported a record revenue of $37.5 million for Q1 2022, marking a 38% year-over-year growth. The company improved its net loss to $4.5 million and achieved an Adjusted EBITDA of $3 million, thanks to organic growth and cost rationalization. GAN is maintaining its full-year revenue guidance of $155 million to $165 million and expects an Adjusted EBITDA of $15 million to $20 million. The company is optimistic about future growth with ongoing expansions into new states and the FIFA World Cup.

GAN Limited (NASDAQ: GAN) will release its first-quarter financial results for 2022 after market close on May 16, 2022. Following the announcement, a conference call will be held at 4:30 PM ET to discuss the results. GAN is a top B2B supplier of internet gaming solutions for the U.S. land-based casino industry and operates Coolbet, a leading online sports betting platform. The company’s proprietary software, GameSTACK™, supports regulated real money gaming operations.