Zona de Azar USA – GAN Reports u$s 20M Year on Year Revenue Growth for Q3

USA.- November 15, 2021 www.zonadeazar.com GAN, a full-service internet gaming, simulated games (SIM) and sports betting brand, has released its financial results for quarter three of 2021.

The company reported total revenue of $32.3m for Q3 of 2021, a $22m, or 213%, increase from the same period in the prior year. This massive year on year increase is reflective of the effects of the Covid-19 pandemic. Thus, this number marks a 7% decrease from Q2 of 2021, with the group citing sports seasonality and lower sports betting margins as reasons for the drop.

The brand’s B2B segment reached $11.2m, driven by an increase in hardware sales. Meanwhile, its B2B segment, making the most of the company’s revenue, reported $21.1m, a $2.9m decrease.

Dermot Smurfit, CEO of GAN commented: “Our third quarter financial results were in line with our expectations as our B2B segment revenues rose 5% compared to the prior quarter, while our B2C revenues experienced seasonality following a record second quarter. We added the iconic Treasure Island Hotel & Casino to our growing list of SIM clients during the quarter, and continued to demonstrate the value of our ‘multi-state, one app’ capability as we launched Churchill Downs’ online sports betting operation in Arizona.”

He continued: “We also built upon our existing relationship with FanDuel, helping to deliver their iGaming platform in the state of Connecticut subsequent to quarter-end.”

Finally, the company recently announced an agreement with Red Rock Resorts to power their Nevada-based online and retail sports betting platform.

Edited by: @_fonta  www.zonadeazar.com