GAN Plc’s B2C segment proved the standout performer during Q2 this year as its B2B division suffered some setbacks, causing an overall decline in group-wide revenue. The firm explained to its NYSE investors that total revenue dropped 3% during the quarter to $34m (Q2 2022: $35m), and adjusted EBITDA also fell substantially from £1.3m in 2022 to a loss of …
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The leadership of GAN has come under fire from Jan Svendsen over the management of its Coolbet sportsbook subsidiary and further corporate matters. In a LinkedIn post titled ‘GAN needs new leadership’, Coolbet Founder Svendsen lambasted GAN Chief Executive Dermot Smurfit’s management of the company, its staff, key contracts and assets. Svendsen, who sold Coolbet to GAN in 2021 for …
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MGM Resorts International CEO & President Bill Hornbuckle, has joined the senior executive speaker line-up for the Leaders in iGaming track at June’s SBC Digital North America conference and trade show. Set for June 10, day two of the online event, the Leaders in iGaming track will feature an in-depth examination of the future of this exciting new segment of …
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Malta-registered sports betting operator Coolbet has ‘outperformed expectations’ according to GAN Plc’s Q1 2021 financial update, delivering $14.3 million in revenue. GAN closed its acquisition of Coolbet in January 2021, integrating the firm’s sports betting technology and operations, with the long-term goal of leveraging the Estonian operator’s capabilities and experience to enhance its position in the US market. Under the …
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GAN Plc has reached a ‘definitive agreement’ to acquire Malta-licensed operator ‘Coolbet’ for a total consideration of €149 million. The igaming software supplier will acquire Coolbet from its operating firm Vincent Group Malta, which will see it takeover the operator’s brand IP, trading and proprietary software assets. Updating investors, GAN branded Coolbet one of the fastest-growing European B2C operators, who …
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London-listed GAN Plc, a specialist supplier of online gambling software solutions for the US market, has confirmed the departure of Richard Santiago as Chief Financial Officer and Executive Director. Santiago departs GAN executive team to pursue opportunities ‘unrelated to the global gambling sector’. The company has informed that Santiago will be replaced as CFO by Rey del Valle, a seasoned …
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London-listed, US market turnkey systems provider GAN Plc has this morning communicated the ‘signing of a material long-term contract’ significantly expanding its existing relationship with FanDuel Group. Updating the market, GAN governance details that the company will act as FanDuel’s platform for ‘rapid internet casino deployments’. Furthermore, GAN’s platform provisions will be utilised by FanDuel as lead player management systems …
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Updating the market, B2B gambling enterprise turnkey systems provider GAN has confirmed that it has entered a strategic US services partnership with betting platform and software supplier SBTECH. The partnership will see SBTECH’s sports betting provisions integrated within GAN’s enterprise platform software ‘GameSTACK’. Moving forward, GAN management will be able to offer sports betting services to ‘select partners’ of its …
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Irish finance magnet Dermot Desmond has invested £1.3 million (€1.5 million) in London AIM listed igaming systems provider GAN. Updating the market, GAN governance revealed that Desmond’s IIU Nominees (IIU) had purchased +3 million shares in the firms new share placement. Desmond’s purchase sees IIU take an approximate 5% equity in GAN. GAN governance stated that the funds would be …
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London AIM-listed GAN Plc (formerly GameAccount Network) has welcomed Chicago financial advisory David Capital Partners as new investors raising £450,000 for its business. GAN governance declared that the firm had conducted a new share placement of 1.5 million ‘ordinary shares’ issued at a price of 30p. The completed purchase will see David Capital hold 2.2% of total share capital of …
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