\n
In Latin America and Norther Europe, GAN sports betting results got a lift from \u201chigher-than-expected sports betting margin (calculated by dividing Gross Gaming Revenue by Amount Wagered) of 9.7 percent for the quarter, as compared to 6.8 percent in the first quarter, while also maintaining marketing spend efficiency. The Company noted that its revenue growth accelerated during the second half of the quarter, driven by two major international sporting events,\u201d said the tech firm.<\/p>\n<\/div>\n
It remains to be seen, but if that pattern holds true to form, the current quarter could be another strong period for GAN, thanks to the UEFA European Championship, Copa America in Latin America, and the looming Summer Olympic.<\/p>\n
Needed Jolt for GAN Stock<\/h2>\n
News of the bullish revenue forecasts couldn’t come at a better time for GAN stock. The shares slid 7.85 percent during traditional trading hours today, extending the year-to-date decline to north of 25 percent.<\/p>\n
While GAN stock is scuffling this year, the late Wednesday rally extends a tradition of the name being highly sensitive to positive news — a trend that’s emerged in a brief time. GAN went public in the US<\/a> in May 2020.<\/p>\n\u201cLooking back, we identified and acquired a business at the outset of this year that is now performing significantly ahead of plan,\u201d said CEO Dermot Smurfitt.<\/strong><\/p>\nGAN delivers second-quarter results on Aug. 16.<\/p>\n","protected":false},"excerpt":{"rendered":"
GAN Ltd. stock (NASDAQ:GAN) soared more than 17 percent in Wednesday’s after-hours trading session after the gaming technology provider raised its earnings before interest, taxes, depreciation and amortization (EBITDA) and revenue guidance for the second quarter, as well as its full-year sales forecast. That’s a sign the acquisition of European iGaming and sportsbook provider Coolbet, […]<\/p>\n","protected":false},"author":46,"featured_media":179048,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,16693],"tags":[],"acf":[],"yoast_head":"\n
GAN Stock Surges Following Upbeat Q2, Full-Year Revenue Guidance<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n