GAN hosts virtual investor event
Leadership team will outline plan to top $500m in revenue by 2026.
GAN Limited, a software-as-a-service provider to the real money internet gaming, online sports betting and simulated gaming industries, said it will host a virtual investor event Friday.
According to a statement from the company, CEO Dermot Smurfit and CFO Karen Flores will outline the strategic direction for GAN as well as provide an overview of the company’s market forecasts and financial outlook.
Additional presenters will include B2B and B2C operational leaders Don Ryan and Anders Karlsen, CCO Jeff Berman, and CIO Simon Knock.
Among the numerous topics scheduled to be discussed: North American B2B demand is strong. The company noted it is investing in talent and technology in preparation for a multi-year period of new launches and demand, including GAN’s recent opening of a new office in Miami, Florida.
New B2B product offerings such as GAN Sports and Super RGS will enable GAN to capture more of the value chain, increase take rate and present the opportunity to service the entire spectrum of operator customers, officials said.
The California-based company’s B2C growth has “exceeded internal expectations and remains strong.” GAN said the business is “very well positioned” for early stages of secular growth in exciting new markets within Latin America.
GAN said its B2B technology is increasingly scarce, proven, costly to replicate and extremely complex. The solutions have been optimized through iterative launches and improvements over the past several years, which the company said offers a unique advantage over operators considering bringing the technology in-house.
The company said it is targeting 2023 projected revenue of $225m to $250m, and confirmed its long-term target to exceed $500m, which it believes can be achieved by 2026 (compared to $35m in 2020).
GAN also is targeting a long-term annualized adjusted EBITDA margin to range between 30% to 35% as the business achieves scale.
“Today is an exciting and very important day in GAN’s history as we hold our first ever Investor Day event,” Smurfit said in a statement. “The investment community will have the opportunity to see the depth of our executive leadership team and hear from management across the enterprise.”
Smurfit said the event also will include a “comprehensive outline” of the company’s strategic direction to scale its B2B offering, accelerate its “already fast-growing” B2C business, prepare for its launch of GAN Sports and execute its Super RGS strategy, among other initiatives.
“The investments we are making in our technology to advance our position in each of these areas, coupled with the expansion of our talented workforce, will provide a clear path toward value creation over the coming years,” Smurfit continued. “We are adding to our portfolio through the launch of our GAN Sports offering – including a sports betting gaming kiosk – and the aggregation of our exclusive content agreements with leading designers and manufacturers of the most popular and widely recognized online casino games.”
Smurfit said GAN’s leadership team is confident that the company has a bright future ahead of it in the fast-growing online gaming and sports betting markets around the world, as evidenced by its financial targets for both 2023 and 2026.
“I have never been more excited for GAN’s future over our 18-year existence, and we look forward to sharing our future success with our valued shareholders.”
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