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Mar 31, 2023
GAN Q1 2023 Earnings Report
GAN reported strong underlying KPIs for both B2B and B2C businesses, with B2B GOR increasing over 40% year-over-year, and is progressing in its strategic alternatives review.
Key Takeaways
GAN Limited reported strong underlying KPIs for both its B2B and B2C businesses in Q1 2023. B2B Gross Operator Revenue increased over 40% compared to the prior year quarter. The company is progressing with its strategic alternatives review to maximize shareholder value and has bolstered its financial position through a term loan transaction.
B2B Gross Operator Revenue increased over 40% versus prior year quarter.
B2C active customers, deposits, and turnover remained strong and continued to grow.
The company is reallocating capital toward high-return opportunities, focusing on GAN Sports in the U.S. and select international B2C markets.
A term loan transaction has strengthened the balance sheet, reduced interest expense, and allowed for modification of term loan conditions.
GAN
GAN
Forward Guidance
GAN remains unable to provide its financial outlook for 2023 within a reasonable range until it reaches the ultimate conclusion of the strategic review process.