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Gan Ltd, the B2B supplier of internet gambling software, published its full-year 2021 financial results recently, showing a slight drop in sports margin.  As a result, the group’s revenue fell just over 5.5% in the fourth quarter of 2021, compared to the same period one year before. Profits also dropped 11.6% year on year.

According to GAN’S CEO, Dermot Smurfit, the fourth quarter financial results were adversely affected by the volatile sports market in the company’s B2C segment, consistent with other international operators. This was partially offset by continued strong new customer growth.

Other Key Features of GAN’s 2021 Report:

  • GAN’s B2C revenue dipped during the fourth quarter to $19.2 million – a 9% drop year on year.
  • B2B revenue improved year on year to $11.3 million, driven by improvements made to this division.
  • Overall, in 2021, net revenues jumped to $125.4 million.
  • GAN purchased Coolbet during the year, which also contributed to overall revenue growth.

Commenting on the 2021 report, Smurfit said that the group has not lost sight of the fact that GAN delivered “incredibly strong revenue growth” in 2021. He said that GAN made numerous strategic steps towards solidifying its future and projected another year of very strong revenue growth, as well as improved profitability as it achieves better scale.

The chief product officer for Evolution Gaming, Todd Haushalter commented on the taxation framework across the US in relation to the growing igaming market.

According to the CPO, there is a need for regulators and gaming authorities to implement fair taxes on the industry. The intention, he said was that these levels did not become prohibitive and would therefore allow the market to reach its maximum potential.

A fair taxation level, said Haushalter, would allow operators and suppliers to innovate and create more igaming products, ultimately benefitting the players.

He compared Nevada’s tax rates of 6.75% of gross gaming revenue to New York’s exorbitant tax rate of 51% placed on its sports betting market.

“’Feverish’ or ‘frenzy’ are the first words that come to mind when it comes to describing the market as things stand,” Haushalter said. “The excitement around the business is incredibly high and it reminds me of the early days of the .com boom.”

“Everyone knows that online gaming will be massive in America, since this is the world’s largest gaming market already. As a result of this, we are seeing many companies investing heavily today to secure their place in the future of online gaming.”

Haushalter called for low gaming taxes so that the market could flourish across the US, and not only in very specific states.

The European Gaming and Betting Association (EGBA), noting the growing threat of cybersecurity incidents in the global betting and gaming industry, has created a new cybersecurity division.

The objective of the group is to allow information sharing related to cyber threats and attacks among all members of the association. When incidents are reported, the cyber security group will also facilitate cooperation on tracking and resolutions.

The group will consist of experts from EGBA members.

The Secretary General of EGBA, Maarten Haijer said that the group was launched to encourage and establish a much-needed platform for cross-industry cooperation on cybersecurity issues.

“Cyber criminals are increasingly determined and sophisticated in their efforts to try to hack into gambling websites to steal customer data and money,” he said. “Cyber threats tend to be cross-border in nature, affect operators in the same ways, and are a common threat to the industry.”

“That’s why it is crucially important that operators work closer together to strengthen cyber security protocols and procedures, find common solutions to the latest threats and security vulnerabilities, and implement the highest security standards.”

The global betting and gaming industry faces mounting threats such as DDoSs (Distributed Denial of Service) attacks and odds/price scraping.

These threats are particularly prevalent during major sporting events.

The London-listed gaming and betting group, Playtech updated its stakeholders on its full year results for 2021, showing results that were above initial predictions.

Playtech said that its revenue increased from €1,078.5 million to €1,205.4 million – a growth of 12%. According to the group, substantial growth in its B2B and B2C units were partially responsible for this revenue increase.

Other key points from the Playtech report:

  • Adjusted EBITDA grew 25%  to €317.1 million (compared to €253.6 million in 2020).
  • B2B revenue rose by 11% to €554.3 million in 2021 (compared to 2020’s €494.8 million).
  • B2C revenue increased 10% from €596.3 million in 2020 to €663.7 million in 2021.
  • North and South America were the key contributors to the growth in Playtech’s B2B segment, which increased 64% year-on-year.
  • Playtech opened four new Live Casino facilities in Europe and the United States.

What Playtech Says

The CEO of Playtech, Mor Weizer commented on the full year 2021 results, saying that they demonstrate the quality of the group’s technology and the momentum across the group.

“Our strong performance is underpinned by our B2B business, in particular the tremendous growth we have seen in the Americas,” he said.

Weizer said that real progress has been seen in the execution of Playtech’s US strategy, supported by new licenses, new launches, and new partnerships.