B2C drives revenue growth at GAN in Q3 but net loss widens

| By Robert Fletcher
Online gaming software provider GAN reported a 213.6% year-on-year increase in revenue in the third quarter of its 2021 financial year, but its net loss widened to €7.9m (£6.8m/$9.0m).

Revenue for the three months to September 30 amounted to $32.3m, up by 213.6% from $10.3m in the corresponding period last year.

B2C operations were the main source of revenue for the provider, with revenue within this segment reaching $21.1m. GAN did not generate any B2C revenue in Q3 last year as its acquisition of Coolbet, its sole source of B2C income, did not close until January this year.

B2B revenue also increased from $10.3m to $11.2m, with platform and content fees being responsible for $8.7m of this total, and development services and other operations the remaining $2.4m.

Read the full story on iGB North America.

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