Gan Ltd Stock Price, News & Analysis

GAN Limited (NASDAQ: GAN) has announced key strategic initiatives aimed at improving profitability and shareholder returns. The company successfully secured a $30 million term loan with Beach Point Capital, enabling it to fund high-return B2B investments and execute a $5 million share repurchase following Q1 results. Cost-control measures are in place to enhance Adjusted EBITDA generation. Coolbet's sports margin for Q1 improved to a normalized range of approximately 7%. This update reflects GAN's commitment to growth and maintaining a strong balance sheet.

GAN Limited has launched iGaming and online sports betting for the Saginaw Chippewa Indian Tribe in Michigan, marking its fourth client in the state and tenth overall for real money online gambling technology in the U.S. The launch includes a partnership with Soaring Eagle Casino & Resort, the largest casino in Michigan, leveraging GAN's GameSTACK™ technology and iBridge Framework. The collaboration aims to optimize marketing and player loyalty, enhancing user acquisition and retention in the growing Michigan market.

GAN Limited (NASDAQ: GAN) has launched its GameSTACK™ technology platform and the Coolbet B2C segment in Ontario, effective April 4, 2022. This launch marks GAN's entry into the Ontario market for online sports betting and iGaming, following its licensing by the Alcohol and Gaming Commission of Ontario (AGCO). The company anticipates that the Ontario market will serve as a vital growth driver due to its population density. Both segments aim to provide safe and legal gaming experiences to players in Canada.

GAN reported a substantial revenue increase in 2021, reaching $125.4 million, up from $35.2 million in 2020, driven primarily by the Coolbet acquisition and B2B growth. The company forecasts 2022 revenues of $155 million to $165 million, indicating a 28% year-over-year growth at the midpoint. Despite challenges in Q4 2021, including a net loss of $8.5 million, GAN emphasizes profitability improvements and new client acquisitions, such as Entain and Lottomatica. The B2B segment also showed growth with a 26% increase in Gross Operator Revenue.

GAN Limited (NASDAQ: GAN), a top B2B provider in real money internet gaming solutions, will release its financial results for Q4 and full year ending December 31, 2021, after market close on March 22, 2022. A conference call will be held at 4:30 PM ET on the same day to discuss the results. GAN serves the U.S. land-based casino industry and operates Coolbet, a leader in online sports betting technology in Europe and Latin America, utilizing its proprietary GameSTACK™ system for regulated gaming.

On February 8, 2022, Inspired Entertainment announced the launch of its online gaming content in Michigan through GAN Limited, enhancing its market access. GAN, a leading internet gaming software provider, will distribute Inspired's games across its extensive operator network in various U.S. states. Brooks Pierce, COO of Inspired, highlighted the strong demand for their content and the collaboration with GAN as a significant step in expanding their U.S. footprint. GAN’s CEO, Dermot Smurfit, praised Inspired's game performance, indicating plans to further integrate their content into the GAN library.

GAN Limited (NASDAQ: GAN) has completed the acquisition of Silverback Gaming, a UK and Bulgaria-based online casino game developer. The deal grants GAN exclusive rights to Silverback's current and future games, expecting to release 50 new slot titles in three years. This acquisition enhances GAN's SuperRGS platform, aiming to increase market share in the US iGaming sector. Silverback's existing popular games, like Aztec Luck and Mystery Stacks, are expected to launch within GAN's portfolio in 1H 2022, signaling an aggressive content acquisition strategy.

GAN Limited (NASDAQ: GAN) has announced its first deployment of exclusive online gaming content from Ainsworth Game Technology Limited (ASX: AGI) through its SuperRGS platform to TwinSpires in Michigan. This partnership grants GAN exclusive online rights to Ainsworth's online games, with over seventy games currently available. CEO Dermot Smurfit views this as a significant milestone for SuperRGS, anticipating that many U.S. iGaming operators will become clients soon. The collaboration aims to expand GAN's customer base and enhance revenue opportunities.

GAN Limited announced a share repurchase program allowing up to $5 million of its ordinary shares to be purchased on the NASDAQ Capital Market. The program begins immediately and expires on May 31, 2022. Shares will be bought with cash from operations, and the specific timing and amounts depend on market conditions and management’s discretion. CEO Dermot Smurfit emphasized that this initiative aims to enhance long-term shareholder value while also addressing the perceived undervaluation of the stock.