GAN Q1 revenue soars to $27.8m after Coolbet addition
| By Nosa Omoigui
Gaming software provider GAN recorded revenue figures of $27.8m (£19.6m/€22.8m) for the first quarter of 2021, marking a significant 263.0% increase on the same period last year, thanks to B2C growth after acquiring operator Coolbet.
$13.5m of the total revenue came from B2B operations (up 76.0% from 2020). Of this total, the $9.2m generated from platform and content fees was a 55.9% improvement on last year, and development services brought in $4.3m – up from $1.7m in 2020.
The acquisition of sports betting operator Coolbet in January proved to be a lucrative investment, helping GAN make $14.3m from B2C.