GAN Limited Ordinary Shares - GAN STOCK NEWS

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.

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.