Welcome to our dedicated page for GAN Ordinary Shares news (Ticker: GAN), a resource for investors and traders seeking the latest updates and insights on GAN Ordinary Shares stock.
GAN Limited (Symbol: GAN) is a premier provider of Software-as-a-Service (SaaS) solutions designed for the online casino gaming and sports betting industry. With over thirteen years of experience in the sector, GAN Limited has established itself as a trusted partner for market-leading casino operations and top-tier content development houses.
GAN operates through two primary segments: B2B and B2C. The B2B segment is renowned for its development, marketing, and sale of the GameSTACK, GAN Sports, and iSight Back Office technologies. These platforms offer comprehensive tools for player registration, account funding, and back-office management, enabling casino operators to confidently expand their online presence in jurisdictions that permit online real money gaming.
The B2C segment, which encompasses the operations of Coolbet, specializes in providing a robust online sports betting and casino platform. Coolbet’s offerings are accessible through its website and cater to markets across Northern Europe, Latin America, and Canada. This segment focuses on delivering an engaging and seamless user experience for individual players.
Some of GAN’s prominent simulated gaming social casino partners include Maryland Live!, American Casino and Entertainment Properties, The Borgata Hotel Casino & Spa, San Manuel Indian Bingo and Casino, Empire City Casino, and Parx Casino. These partnerships highlight GAN’s capability to deliver tailored solutions that meet the specific needs of its clients.
Recent achievements for GAN include the continuous enhancement of their GameSTACK platform, which has seen substantial adoption by leading casino operators. The company is also actively working on expanding its reach within the regulated online real money gaming markets.
GAN Limited's financial health remains strong, with consistent revenue growth and strategic partnerships driving its market position. As a forward-thinking company, GAN continues to innovate, ensuring that it meets the evolving demands of the online gaming industry.
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.
Beach Point Capital Management LP has made a $30 million private credit investment in GAN Limited (NASDAQ: GAN), a premier provider of internet gaming software-as-a-service. This funding aims to enhance GAN's capabilities in developing proprietary gaming content, securing new B2B contracts, and expanding into new markets. CEO Dermot Smurfit highlighted that this investment will bolster shareholder value, while Beach Point's Portfolio Manager Brian Himot expressed excitement about GAN's role in advancing gaming technology.
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.
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