Gan Ltd Stock Price, News & Analysis

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.

GAN Limited (NASDAQ: GAN) reported its Q3 2021 financial results, revealing total revenue of $32.3 million, down 7% quarter-over-quarter. B2B segment revenues rose 5% to $11.2 million, driven by increased hardware sales. B2C revenues fell to $21.1 million due to lower sports betting margins, contributing to a net loss of $7.9 million compared to a loss of $2.7 million in Q2. The company's cash position remains robust at $50.3 million with no debt. GAN aims for $500+ million in revenue by 2026 and an Adjusted EBITDA margin of 30-35%.

GAN Limited (NASDAQ: GAN) plans to release its third-quarter financial results for the period ending September 30, 2021, on November 11, 2021, after market close. A conference call to discuss the results will take place at 4:30 PM ET on the same day. Interested participants can join via a toll-free number or international dial-in, and an accompanying slide presentation will be available on the Company’s website. GAN is a leading provider of gaming software-as-a-service solutions, primarily catering to the U.S. land-based casino industry.

GAN Limited has signed a significant agreement with Red Rock Resorts to develop the infrastructure for Station Casinos' 'STN Sports' online sports betting platform across Nevada. This partnership leverages GAN's GameSTACK™ technology and aims to enhance both online and retail sports betting experiences. The commercial launch is contingent upon regulatory approvals, which GAN has begun. This collaboration marks GAN's entry into the U.S. sports market with a leading operator, following their established relationship with Station Casinos for social gaming since 2017.

GAN Limited (NASDAQ: GAN) hosted its first virtual investor event, highlighting a strategic plan to achieve over $500 million in revenue by 2026 and a long-term Adjusted EBITDA margin of 30-35%. Key presentations revealed strong North American B2B demand, anticipated growth in new product offerings like GAN Sports, and robust B2C performance in emerging Latin American markets. The company estimates 2023 revenue between $225-$250 million, a significant increase from $35 million in 2020. The leadership team emphasized their commitment to technology investment and market expansion.

GAN Limited (NASDAQ: GAN) will host a virtual Investor Event on October 15, 2021, at 11:00 AM EDT. The event aims to provide insights into the company’s business opportunities and long-term outlook. During the presentation, attendees can participate in a Question & Answer session with the executive management team. A recording of the webcast will be available on the company’s website for 90 days. GAN, a leader in internet gambling software, offers services primarily to the U.S. land-based casino industry.

GAN Limited has postponed its investor event originally set for October 4, 2021, in Las Vegas, due to two executive team members needing to quarantine per CDC guidelines. The remaining executives will still attend the G2E Global Gaming Expo for investor meetings. A new date for the virtual investor event will be announced in the coming weeks. GAN Limited provides software solutions for the real money internet gaming and online sports betting sectors, with proprietary technology such as GameSTACK™.

GAN Limited (NASDAQ: GAN), a top provider of internet gaming software, will host an investor event at the Venetian Resort in Las Vegas on October 4, 2021, at 1:30 PM EDT. The event aims to discuss the company's business opportunities and long-term outlook, with a live webcast available on their website for 90 days. Attendees can submit questions for the management team via email. This presentation will include forward-looking statements and address potential risks as outlined in their SEC filings.

GAN Limited (NASDAQ: GAN) has announced the promotion of Michael B. Arouh to Chief Legal Officer and Corporate Secretary, effective September 1, 2021. He succeeds Todd McTavish, who is resigning for personal reasons but will continue to consult for the company. Arouh has over 26 years of legal experience, previously serving as Deputy Chief Legal Officer and has extensive expertise in corporate law, governance, and internet gambling. CEO Dermot S. Smurfit praised Arouh's leadership qualities and legal knowledge as beneficial for GAN's growth.