Connect with us
Get exclusive access to the iGaming Trends Report 2025 for free – a data-driven analysis designed to give forward-thinking leaders the insights needed to stay ahead.

Latest News

GAN cuts losses as income climbs in first half

Published

on

GAN income climbs
Reading Time: < 1 minute

GAN has reported a year-on-year increase in gross income during the six months to June 30, while the company was able to cut its loses in the period.

 

Gross income in the first half amounted to £18.6m (€21.1m/$24.9m), up 17% on the £15.9m posted in the opening six months of last year

Group net revenue also hiked 6% year-on-year to £4.1m, with recurring revenue growing 24% and now accounting for 86% of net revenue.

GAN was able to report maiden positive first-half earnings before interest, tax, deprecation and amortisation (EBITDA), with the £24,000 an improvement on the loss of £500,00 in the first six months of last year.

Loss after tax was also cut from £2.3m to £2m, and basic loss per share improved from £0.04 to £0.03.

The group generated positive clean EBITDA1 in H1 2017 following a substantial multi-year period of investment focused on the US land-based casino Industry. We anticipate this favourable EBITDA trend to continue throughout H2 2017. The first half of 2017 saw continued growth in recurring revenues driven by the launch of five new clients of Simulated Gaming and strong growth in real-money regulated gaming markets in the US and Europe. We remain encouraged by the growth characteristics of Simulated Gaming and have already seen a major uplift in player activity as we begin to experience the onset of the seasonally strong autumn/fall period.” – said Dermot Smurfit, chief executive of GAN.

Smurfit added: “As the numbers illustrate our group has now moved into sustainable profitability at the clean EBITDA level. Growth prospects for Simulated Gaming and real-money regulated gaming continue to offer the company a viable path to creating significant incremental shareholder value.

Continue Reading
Advertisement

Asia

Goa Introduces an Entirely Online Lottery Platform

Published

on

Reading Time: < 1 minute

 

In a move towards modernising India’s lottery sector, the state of Goa has introduced an entirely online lottery platform, sanctioned by the Directorate of Small Savings and Lotteries. This initiative, known as Great Goa Games, aims to bring transparency and convenience to an industry that has long grappled with allegations of mismanagement and fraud.

Ticket sales commenced Monday, with the inaugural draw set for Sunday. Rhiti Group, led by founder Arun Pandey, was granted the license to operate and market the platform. “Our mission is to democratize opportunities through technology,” Pandey stated, emphasizing the secure and user-friendly nature of the app-based system.

Goa government official Narayan Gad lauded the move as a step forward for the Indian lottery sector. “With our online lottery streamlining processes through technology, we are setting a new standard in the lottery industry,” Gad remarked. “The technology-based product will enhance transparency and ensure improved monitoring and regulation of operations.”

This development follows new rules governing online lotteries, introduced by the Goa directorate in February 2023. Currently, 13 states in India, including Goa, allow lottery games, though others have banned them due to concerns over gambling addiction and operational irregularities.

Continue Reading

Latest News

Catena Media Announces Board Changes

Published

on

Reading Time: < 1 minute

 

Catena Media’s board of directors announced the appointment of Stephen Taylor-Matthews as non-executive director and the departure of Øystein Engebretsen from the board of directors.

Based in London, Stephen Taylor-Matthews is a tech entrepreneur, executive advisor and investor with over two decades of experience in online gaming, sports betting and data analytics.

He is the founder of Polynate, an AI-first company delivering next-generation sports engagement solutions, and has worked at Underdog Fantasy, GoatGaming and Betgenius in previous roles.

Stephen Taylor-Matthews commented: “Catena Media is in a transformation phase and I’m excited to be joining the board at this juncture and to contributing my industry expertise and insight.”

The appointment coincides with the departure from the board of Øystein Engebretsen, who has served as non-executive director since September 2018.

Erik Flinck, Chairman of the Board of Directors, said: “Øystein has made a valuable and important contribution to Catena Media for more than six years. I warmly thank him for his efforts and wish him well in his current and future ventures. At the same time, I am delighted to welcome Stephen Taylor-Matthews to the board. His experience and expertise will be a valuable asset for Catena Media as we move forward.”

Stephen Taylor-Matthews’ appointment will become effective once all necessary filings are made with the Malta Business Registry, and his term will run up until the end of the next annual general meeting, in accordance with the Maltese Companies Act and Catena Media’s articles of association.

Continue Reading

Latest News

Endorphina Partners with R. Franco Digital to Expand Reach

Published

on

Endorphina Partners with R. Franco Digital to Expand Reach
Reading Time: 2 minutes

 

The leading online slot games provider, Endorphina, has announced a brand-new partnership with R. Franco Digital, a renowned manufacturer of AWP machines. This collaboration allows Endorphina to expand its reach in the Spanish and Latin American markets.

Endorphina is one of the top iGaming software providers for the B2B market, developing online slots that cater to a wide range of slot enthusiasts. Over the years, the provider has established itself as one of the most innovative slot suppliers in the industry, dedicated to expanding its products to players worldwide.

Zdenek Llosa, Senior Partnership Manager at Endorphina, said: “We are genuinely excited to join forces with R. Franco Digital, a trusted name with a rich legacy in the Spanish and Latin American gaming world. Partnering with a platform that shares our passion for quality and player satisfaction is truly inspiring. Together with the R. Franco team, we look forward to creating memorable, fun experiences that bring joy and excitement to our shared communities across Spain and LATAM. This collaboration feels like the beginning of something truly special.”

Franco Digital, a subsidiary of the Recreativos Franco Group, has been known for providing its customers with the best turnkey solutions for over 50 years. As a pioneering manufacturer of AWP machines, R. Franco Digital is founded on an innovative company culture that uses the best methodologies and technologies available, working with talented and disruptive people to deliver the best solutions.

“At R. Franco Digital, we are always striving to enhance our platform with innovative, top-quality content that resonates with our audiences, particularly in Spain and Latin America. Partnering with Endorphina allows us to bring a fresh, engaging catalog of games to our players, combining our platform’s power with Endorphina’s creativity and expertise. This collaboration underscores our commitment to delivering premium gaming experiences tailored for Spanish-speaking markets,” said Javier Sacristán, International Business Director of R. Franco Digital.

Continue Reading

Trending (Top 7)

EuropeanGaming.eu is a premier online platform that serves as a leading information hub for the gaming and gambling industry. This industry-centric media outlet reaches over 200,000 readers monthly, providing them with compelling content, the latest news, and deep-dive insights.

Offering comprehensive coverage on all aspects of the gaming sector, EuropeanGaming.eu includes online and land-based gaming, betting, esports, regulatory and compliance updates, and technological advancements. Regular features encompass daily news articles, press releases, exclusive interviews, and insightful event reports.

The platform also hosts industry-relevant virtual meetups and conferences, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - European Gaming is part of HIPTHER. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania

We are constantly showing banners about important news regarding events and product launches. Please turn AdBlock off in order to see these areas.