Gan (GAN) Stock News

GAN Limited (NASDAQ: GAN) announced the appointment of Robert Shore as the new Vice President of Investor Relations & Capital Markets. With over 15 years in corporate finance and investor relations, Shore aims to enhance GAN's visibility in the fast-growing digital gaming market. His previous role at Scientific Games involved significant financing transactions and an IPO. CEO Dermot Smurfit expressed confidence in Shore's industry experience to accelerate the company's strategic engagement with investors.

GAN Limited (NASDAQ: GAN) reported a 17% increase in total revenue for 2020, reaching $35.2 million, driven by a 73% growth in Gross Operator Revenue (GOR) to $545 million. The company launched six new client partnerships and made a strategic acquisition of Coolbet. Despite a net loss of $20.2 million due to increased expenses, GAN expects revenue for 2021 to rise to between $100 million and $105 million. The first quarter is projected to generate $24-$25 million in revenue, indicating strong growth momentum.

GAN Limited (NASDAQ: GAN) announced a partnership with Gila River Gaming Enterprises to provide Simulated Gaming solutions across its properties. This agreement will enhance the player experience through a customized platform on both mobile and desktop, which includes marketing support and customer services. Gila River operates three casinos in Arizona, and GAN's technology aims to improve player engagement and revenue opportunities. The new platform features advanced applications and loyalty linking, showcasing GAN's leading position in the simulated gaming industry.

GAN Limited (NASDAQ: GAN), a premier internet gaming software provider, will release its financial results for Q4 and full-year 2020 on March 25, 2021, after market close. This release marks its transition from a foreign private issuer to a U.S. domestic filer. A conference call to discuss these results will take place at 4:30 PM EST on the same day. Investors can access the call via U.S. toll-free number (877) 407-0989 or internationally at (201) 389-0921. An accompanying slide presentation will also be available on the Company’s website.

GAN Limited (NASDAQ: GAN) achieved a record-breaking 14.6 million settled online bets during Super Bowl LV, a 186% increase compared to last year. They also secured a 10-year licensing agreement with Parx Casino for their iBridge integration framework, worth $3 million. This deal reflects the value of GAN's intellectual property at approximately $75 per reward card. The company highlights its strong financial momentum and the ability to generate 160% more Gross Gaming Revenue for customers linking loyalty cards to online accounts, indicating a robust market position.

GAN Limited (NASDAQ: GAN) has entered into a definitive agreement with Seneca Gaming Corporation to deliver Simulated Gaming solutions across all SGC properties, enhancing user experience on both desktop and mobile platforms. This collaboration aims to replace SGC's previous simulated gaming system with GAN's advanced software, providing improved marketing and customer service capabilities. Jeff Berman, GAN's Chief Commercial Officer, emphasized the partnership's potential for actionable player insights, while SGC’s CEO expressed confidence in GAN's customized approach to elevate their gaming platform.

GAN Limited (NASDAQ: GAN) has launched its services for Michigan's internet gambling market today, coinciding with the launch of major clients: Churchill Downs, Wynn Resorts, and FanDuel Group. The Michigan Gaming Control Board approved nine B2C operators, with expected gross revenue of $439 million in 2021. GAN now supports these clients through its platform, enhancing its industry footprint. The CEO emphasized the significance of this launch, highlighting the company's engineering advancements that enable simultaneous client launches. GAN is poised for further expansion with increasing regulatory approvals.

GAN Limited (NASDAQ: GAN), a prominent internet gaming software provider, will participate in the 23rd Annual Needham Virtual Growth Conference on January 15, 2021. Senior management will engage in one-on-one and group meetings with investors attending the event. Prior to the conference, all support materials, including an investor presentation, will be available on the Company’s investor relations website. GAN specializes in providing turnkey software solutions for real-money internet gambling, including its proprietary GameSTACK™ platform.

GAN Limited (NASDAQ: GAN) has signed its first Letter of Intent (LOI) with a current client for its new ‘Coolbet’ sportsbook engine, aimed at launching an internet-only mobile sports betting experience in Virginia, pending regulatory approvals. Jeff Berman emphasized the growing interest in the Coolbet platform since its acquisition in November, stating that integration is underway for operational deployment. GAN's proprietary system, GameSTACK™, supports various internet gambling solutions, reinforcing its position in the U.S. gaming market.