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GAN Limited GAN
Consumer Cyclical - Gambling, Resorts & Casinos - NASDAQ - US
Watchlist
$ 1.81
0.556 %
$ 82.5 M
Market Cap
-6.24
P/E
1. INTRINSIC VALUE

GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally. The company operates in two segments, B2B and Business-to-Consumer (B2C). It offers and licenses GameSTACK, an internet gaming platform that provides turnkey technology solution for regulated real-money internet gambling, online sports betting, and virtual simulated gaming. The company also offers online sports betting, online casino game, and peer-to-peer poker services through its coolbet.com website, as well as a range of development, marketing, and customer support services designed to deploy and provide ongoing operational support for its software systems.[ Read More ]

The intrinsic value of one GAN stock under the base case scenario is HIDDEN Compared to the current market price of 1.81 USD, GAN Limited is HIDDEN

GAN Intrinsic Value
HIDDEN
SHOW
2. FUNDAMENTAL ANALYSIS

Price Chart GAN

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FINANCIALS
129 M REVENUE
-8.56%
Growth Rates
1Year -8.56%
3Years 54.40%
5Years 55.97%
7Years 44.97%
10Years 20.34%
-30.3 M OPERATING INCOME
-21.19%
Growth Rates
1Year -21.19%
3Years -15.90%
5Years -29.90%
7Years -26.81%
10Years -20.80%
-34.4 M NET INCOME
82.56%
Growth Rates
1Year 82.56%
3Years -19.44%
5Years -34.93%
7Years -33.19%
10Years -34.76%
-3.56 M OPERATING CASH FLOW
-185.43%
Growth Rates
1Year -185.43%
3Years 17.50%
5Years -20.95%
7Years -21.62%
10Years -7.82%
-6.82 M INVESTING CASH FLOW
64.32%
Growth Rates
1Year 64.32%
3Years -4.81%
5Years -10.10%
7Years -2.97%
10Years -13.14%
1.35 M FINANCING CASH FLOW
-95.09%
Growth Rates
1Year -95.09%
3Years -79.43%
5Years -25.03%
7Years -17.93%
10Years -25.11%
37.1 M REVENUE
4.33%
Growth Rates
1Year -8.56%
3Years 54.40%
5Years 55.97%
7Years 44.97%
10Years 20.34%
2.13 M OPERATING INCOME
111.30%
Growth Rates
1Year -21.19%
3Years -15.90%
5Years -29.90%
7Years -26.81%
10Years -20.80%
2.08 M NET INCOME
220.34%
Growth Rates
1Year 82.56%
3Years -19.44%
5Years -34.93%
7Years -33.19%
10Years -34.76%
-769 K OPERATING CASH FLOW
-64.78%
Growth Rates
1Year -185.43%
3Years 17.50%
5Years -20.95%
7Years -21.62%
10Years -7.82%
-894 K INVESTING CASH FLOW
-43.10%
Growth Rates
1Year 64.32%
3Years -4.81%
5Years -10.10%
7Years -2.97%
10Years -13.14%
7.23 FINANCING CASH FLOW
200.00%
Growth Rates
1Year -95.09%
3Years -79.43%
5Years -25.03%
7Years -17.93%
10Years -25.11%
Balance Sheet Decomposition GAN Limited
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Current Assets 56.5 M
Cash & Short-Term Investments 38.6 M
Receivables 11.4 M
Other Current Assets 6.55 M
Non-Current Assets 31 M
Long-Term Investments 0
PP&E 8.5 M
Other Non-Current Assets 22.5 M
Current Liabilities 36.7 M
Accounts Payable 6.97 M
Short-Term Debt 1.61 M
Other Current Liabilities 28.1 M
Non-Current Liabilities 55.4 M
Long-Term Debt 45.8 M
Other Non-Current Liabilities 9.62 M
EFFICIENCY
Earnings Waterfall GAN Limited
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Revenue 129 M
Cost Of Revenue 38.7 M
Gross Profit 90.7 M
Operating Expenses 121 M
Operating Income -30.3 M
Other Expenses 4.13 M
Net Income -34.4 M
RATIOS
70.10% GROSS MARGIN
70.10%
Averages
1Year 70.10%
3Years 69.23%
5Years 67.59%
7Years 64.73%
10Years 75.31%
-23.42% OPERATING MARGIN
-23.42%
Averages
1Year -23.42%
3Years 19.10%
5Years 2.04%
7Years -12.99%
10Years -27.30%
-26.61% NET MARGIN
-26.61%
Averages
1Year -26.61%
3Years -62.00%
5Years -47.51%
7Years -47.23%
10Years -49.69%
748.13% ROE
748.13%
Averages
1Year 748.13%
3Years -71.32%
5Years -43.02%
7Years -46.48%
10Years -42.62%
-39.36% ROA
-39.36%
Averages
1Year -39.36%
3Years -80.17%
5Years -49.07%
7Years -43.78%
10Years -38.40%
-79.28% ROIC
-79.28%
Averages
1Year -79.28%
3Years 69.26%
5Years 41.44%
7Years 14.05%
10Years -3.09%
FREE CASH FLOW ANALYSIS
Free Cash Flow Analysis GAN Limited
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Net Income -34.4 M
Depreciation & Amortization 17.2 M
Capital Expenditures -6.82 M
Stock-Based Compensation 5.4 M
Change in Working Capital 6.77 M
Others 5.89 M
Free Cash Flow -10.4 M
3. WALL STREET ANALYSTS ESTIMATES
Wall Street Analysts Price Targets GAN Limited
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GAN has no price targets from Wall Street.
4. DIVIDEND ANALYSIS
0.00% DIVIDEND YIELD
0 USD DIVIDEND PER SHARE
5. COMPETITION

Esports Entertainment Group, Inc. operates as an iGaming and entertainment company in the United States and internationally. The company operates Vie.bet, an esports focused platform; Sportnation.bet, an online sportsbook and casino; iDefix, a casino-platform; Bethard, an online sportsbook and casino; Vie.gg, an online esports wagering website; and ggCircuit, a local area network center management software for managing mission critical functions, such as game licensing and payments.

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0.861 USD
GMBLP
Undervalued 474.22%

Rush Street Interactive, Inc. operates as an online casino and sports betting company in the United States and Latin America. It provides real-money online casino, online and retail sports betting, and social gaming services.

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1.89 USD
RSI
Overvalued 82.99%

EBET, Inc. develops products and operates platforms to provide a real money online gambling experience focused on esports and competitive gaming.

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0 USD
EBET
Overvalued 100.00%

Inspired Entertainment, Inc., a business-to-business gaming technology company, supplies content, platform, and other products and services to regulated lottery, betting, and gaming operators worldwide.

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-8.55 USD
INSE
Overvalued 184.72%

PlayAGS, Inc. designs and supplies gaming products and services for the gaming industry in the United States and internationally. It operates through three segments: Electronic Gaming Machines (EGM), Table Products, and Interactive Games (Interactive).

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-3.62 USD
AGS
Overvalued 131.15%

Accel Entertainment, Inc., together with its subsidiaries, operates as a distributed gaming operator in the United States. It is involved in the installation, maintenance, and operation of gaming terminals; redemption devices that disburse winnings and contain automated teller machine (ATM) functionality; and other amusement devices in authorized non-casino locations, such as restaurants, bars, taverns, convenience stores, liquor stores, truck stops, and grocery stores.

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17.7 USD
ACEL
Undervalued 52.82%

International Game Technology PLC operates and provides gaming technology products and services in North America, Europe, the Middle East, Africa, Asia-Pacific, Latin America, and the Caribbean.

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37.8 USD
IGT
Undervalued 93.49%

Light & Wonder, Inc. develops technology-based products and services, and related content for the gaming, lottery, social and digital gaming industries in the United States and internationally.

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-15.1 USD
LNW
Overvalued 116.15%

Codere Online Luxembourg, S.A. operates as an online casino gaming and sports betting company. The company also offers online casino wagering products and services.

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9.16 USD
CDRO
Undervalued 15.95%

Gambling.com Group Limited operates as a performance marketing company for the online gambling industry worldwide. The company provides digital marketing services for the iGaming and sports betting.

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21.2 USD
GAMB
Undervalued 80.02%

Canterbury Park Holding Corporation, through its subsidiaries, engages in horse racing, card casino, food and beverage, and real estate development businesses.

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18.5 USD
CPHC
Overvalued 4.91%
6. Ownership
Insider Ownership GAN Limited
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Sold
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
0 USD 0
Bought
0 USD 0
0-3 MONTHS
0 USD 0
3-6 MONTHS
0 USD 0
6-9 MONTHS
0 USD 0
9-12 MONTHS
Date Value Insider Amount Avg Price
2 years ago
Mar 09, 2022
Bought 12.5 K USD
MCGILL SEAMUS M
director:
+ 5000
 2.51 USD
2 years ago
Aug 29, 2022
Sell 406 K USD
Smurfit Dermot S.
President, CEO
- 150000
 2.7047 USD
2 years ago
Aug 23, 2022
Bought 19.3 K USD
Flores Karen
EVP, Chief Financial Officer
+ 6500
 2.9698 USD
2 years ago
May 19, 2022
Bought 16.6 K USD
MCGILL SEAMUS M
director:
+ 5000
 3.32 USD
2 years ago
Nov 22, 2021
Bought 109 K USD
Karlsen Glenn Anders
CEO, Coolbet
+ 10000
 10.9 USD
2 years ago
Nov 19, 2021
Bought 109 K USD
MCGILL SEAMUS M
Director
+ 10000
 10.852 USD
3 years ago
Nov 17, 2021
Sell 1.9 M USD
Smurfit Dermot S.
President, CEO
- 155414
 12.239 USD
3 years ago
Nov 15, 2021
Sell 556 K USD
Smurfit Dermot S.
President, CEO
- 42184
 13.182 USD
3 years ago
Nov 16, 2021
Sell 31.2 K USD
Smurfit Dermot S.
President, CEO
- 2402
 13 USD
3 years ago
Oct 21, 2021
Sell 106 K USD
Smurfit Dermot S.
President, CEO
- 6439
 16.5 USD
3 years ago
Oct 20, 2021
Sell 4.12 K USD
Smurfit Dermot S.
President, CEO
- 250
 16.5 USD
3 years ago
Sep 07, 2021
Sell 1.8 M USD
Knock Simon
EVP, Chief Information Officer
- 99934
 18 USD
3 years ago
Sep 07, 2021
Sell 1.8 M USD
Knock Simon
EVP, Chief Information Officer
- 99934
 18 USD
3 years ago
Sep 02, 2021
Sell 451 K USD
Knock Simon
EVP, Chief Information Officer
- 25066
 18 USD
3 years ago
Aug 19, 2021
Bought 14.2 K USD
MCGILL SEAMUS M
Director
+ 1000
 14.2 USD
3 years ago
Aug 05, 2021
Sell 1.36 K USD
MCGILL SEAMUS M
Director
- 85
 16.05 USD
3 years ago
Jun 11, 2021
Sell 61.6 K USD
Smurfit Michael Jr.
Director
- 3500
 17.6 USD
3 years ago
Jun 14, 2021
Sell 64.2 K USD
Smurfit Michael Jr.
Director
- 3655
 17.5779 USD
3 years ago
May 26, 2021
Sell 129 K USD
Goldberg David
Director
- 7500
 17.14 USD
3 years ago
Aug 19, 2021
Bought 251 K USD
Smurfit Dermot S.
President, CEO
+ 18100
 13.846 USD
3 years ago
Aug 19, 2021
Bought 251 K USD
Smurfit Dermot S.
President, CEO
+ 18100
 13.846 USD
3 years ago
Aug 05, 2021
Sell 1.36 K USD
MCGILL SEAMUS M
Director
- 85
 16.05 USD
3 years ago
Jun 11, 2021
Sell 61.6 K USD
Smurfit Michael Jr.
Director
- 3500
 17.6 USD
3 years ago
Jun 14, 2021
Sell 64.2 K USD
Smurfit Michael Jr.
Director
- 3655
 17.5779 USD
3 years ago
May 26, 2021
Sell 129 K USD
Goldberg David
Director
- 7500
 17.14 USD
3 years ago
Jan 12, 2021
Sell 1.44 M USD
Berman Jeffrey Bruce
EVP, Chief Commercial Officer
- 60000
 24 USD
3 years ago
Jan 11, 2021
Sell 652 K USD
Berman Jeffrey Bruce
EVP, Chief Commercial Officer
- 29651
 22 USD
3 years ago
Jan 08, 2021
Sell 7.9 K USD
Berman Jeffrey Bruce
EVP, Chief Commercial Officer
- 349
 22.635 USD
7 years ago
Apr 05, 2017
Sell 16.5 K USD
TRUST FBO ALTSCHUL CHARLES UW ALTSCHUL HG
director, other: Chairman
- 492
 33.5171 USD
13 years ago
Jan 25, 2011
Bought 28.5 K USD
Boulware Robert J
Director
+ 4034
 7.07 USD
13 years ago
Jan 24, 2011
Bought 28.8 K USD
Boulware Robert J
Director
+ 4034
 7.1387 USD
13 years ago
Jan 21, 2011
Bought 21.2 K USD
Boulware Robert J
Director
+ 2766
 7.6694 USD
13 years ago
Jan 20, 2011
Bought 20.4 K USD
Boulware Robert J
Director
+ 2766
 7.3612 USD
13 years ago
Jan 19, 2011
Bought 17.8 K USD
Boulware Robert J
Director
+ 2766
 6.4419 USD
13 years ago
Jan 18, 2011
Bought 15.8 K USD
Boulware Robert J
Director
+ 2766
 5.7017 USD
14 years ago
Dec 22, 2009
Bought 1.74 K USD
STALLINGS ROBERT W
Executive Chairman
+ 200
 8.68 USD
14 years ago
Dec 22, 2009
Bought 3.52 K USD
STALLINGS ROBERT W
Executive Chairman
+ 400
 8.79 USD
14 years ago
Dec 21, 2009
Bought 14.4 K USD
STALLINGS ROBERT W
Executive Chairman
+ 1700
 8.5 USD
14 years ago
Dec 18, 2009
Bought 2.55 K USD
STALLINGS ROBERT W
Executive Chairman
+ 300
 8.5 USD
14 years ago
Dec 17, 2009
Bought 7.88 K USD
STALLINGS ROBERT W
Executive Chairman
+ 900
 8.75 USD
15 years ago
May 29, 2009
Bought 3.24 K USD
STALLINGS ROBERT W
Executive Chairman
+ 1000
 3.24 USD
15 years ago
May 29, 2009
Bought 4.11 K USD
STALLINGS ROBERT W
Executive Chairman
+ 1250
 3.29 USD
15 years ago
Mar 30, 2009
Bought 680 USD
Boulware Robert J
Director
+ 504
 1.35 USD
15 years ago
Feb 19, 2009
Bought 100 K USD
GOFF JOHN C
director, 10 percent owner:
+ 100000
 1 USD
19 years ago
Sep 19, 2005
Bought 8.45 K USD
Reis James Richard
Executive Vice President
+ 5000
 1.69 USD
19 years ago
Sep 19, 2005
Bought 170 USD
Reis James Richard
Executive Vice President
+ 100
 1.7 USD
19 years ago
Sep 19, 2005
Bought 1.7 K USD
Reis James Richard
Executive Vice President
+ 1000
 1.7 USD
19 years ago
Sep 19, 2005
Bought 5.41 K USD
Reis James Richard
Executive Vice President
+ 3200
 1.69 USD
19 years ago
Sep 19, 2005
Bought 2.5 K USD
Reis James Richard
Executive Vice President
+ 1500
 1.67 USD
19 years ago
Sep 16, 2005
Bought 8.4 K USD
Reis James Richard
Executive Vice President
+ 4800
 1.75 USD
19 years ago
Sep 16, 2005
Bought 350 USD
Reis James Richard
Executive Vice President
+ 200
 1.75 USD
7. News
GAN Reports Third Quarter 2024 Financial Results LAS VEGAS--(BUSINESS WIRE)--GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today reported its unaudited financial results for the third quarter ended September 30, 2024. Seamus McGill, GAN's Chief Executive Officer, said, “I couldn't be more pleased with the progress our team members have made to deliver revenue growth while concurren. businesswire.com - 1 week ago
GAN Announces Approval of Merger by the Nevada Gaming Commission IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading international B2C operator of Internet sports betting, today announced that it has received approval from the Nevada Gaming Commission (NGC) for the merger of GAN and a subsidiary of SEGA SAMMY CREATION INC. (“SSC”), an affiliate of SEGA SAMMY HOLDINGS INC. (“SEGA SAMMY HOLDINGS”). The closing of the merger re. businesswire.com - 1 month ago
GAN Reports First Quarter 2024 Financial Results IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today reported its unaudited financial results for the first quarter ended March 31, 2024. "Our first quarter saw strong B2B revenue growth of nearly 10% as well as successful ongoing cost initiatives to reduce our overall operating expenses by 20%,” comme. businesswire.com - 6 months ago
GAN to Release First Quarter Results on May 9, 2024 IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced that it will release financial results for the first quarter ended March 31, 2024, after market close on Thursday, May 9, 2024. Due to the previously announced merger agreement and merger of GAN and a subsidiary of SEGA SAMMY CREATION INC.,. businesswire.com - 6 months ago
GAN Announces Recent Appointment of Mr. Brian Chang to Chief Financial Officer IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced that Mr. Brian Chang has recently been named the Company's Chief Financial Officer. Mr. Chang had previously been serving in an interim capacity. Mr. Chang will be focused on guiding the Company towards a timely closing with Sega Sammy Crea. businesswire.com - 7 months ago
GAN Reports Fourth Quarter and Full Year 2023 Financial Results IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today reported its unaudited financial results for the quarter and year ended December 31, 2023. Fourth Quarter 2023 Compared to Fourth Quarter 2022 Total revenue of $30.7 million decreased 17%, or $6.2 million, compared to the prior year quarter. B2B segm. businesswire.com - 8 months ago
GAN Announces Recent Appointment of Mr. Seamus McGill to Chief Executive Officer IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced that Mr. Seamus McGill has recently been named the Company's Chief Executive Officer. Mr. McGill had previously been serving in an interim capacity. Mr. McGill's will remain on the Company's board of directors and will be focused on guiding. businesswire.com - 9 months ago
GAN Limited Shareholders Approve SEGA SAMMY Merger Proposal at Special General Meeting of Shareholders IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced that, at a special general meeting of its shareholders held on February 13, 2024, GAN shareholders overwhelmingly approved the previously announced merger agreement and merger of GAN and a subsidiary of SEGA SAMMY CREATION INC. (“SSC”), an. businesswire.com - 9 months ago
GAN Reminds Shareholders to Vote in the Upcoming Special Shareholder Meeting IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today reminded its shareholders to vote in favor of the previously announced merger with a subsidiary of SEGA SAMMY CREATION INC., (“SSC”), an affiliate of SEGA SAMMY HOLDINGS, INC. (“SEGA SAMMY”) at the upcoming special meeting of shareholders. How to Vot. businesswire.com - 9 months ago
GAN Files Definitive Proxy Statement and Will Hold Special Meeting of Shareholders to Vote on Merger With Affiliate of SEGA SAMMY HOLDINGS, INC. IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced that the Company will hold its Special Meeting of Shareholders to vote on the proposed merger with a subsidiary of SEGA SAMMY CREATION INC., an affiliate of SEGA SAMMY HOLDINGS, INC. The meeting will take place on Tuesday, February 13, 2024. businesswire.com - 10 months ago
GAN Announces Launch of GAN Sports with Red Rock Resorts, Inc. under the STN Sports Brand IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (the “Company” or “GAN”) (NASDAQ: GAN), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced that Red Rock Resorts, Inc. has commenced field trials of GAN Sports under the STN Sports brand at all properties of Station Casinos LLC (“Station Casinos”). The field trial commenced with the certification of GAN's GameSTACK 2.0 Platform. businesswire.com - 10 months ago
GAN Announces Changes to its Board of Directors IRVINE, Calif.--(BUSINESS WIRE)--GAN Limited (NASDAQ: GAN) (the “Company” or “GAN”), a leading North American B2B technology provider of real money internet gaming solutions and a leading International B2C operator of Internet sports betting, today announced changes to its Board of Directors and accompanying committees. Mr. Seamus McGill will step down from his role as Chairman of the Board, while continuing in his role as interim CEO and will be focused on guiding the company towards a timely. businesswire.com - 10 months ago
8. Profile Summary

GAN Limited GAN

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COUNTRY US
INDUSTRY Gambling, Resorts & Casinos
MARKET CAP $ 82.5 M
Dividend Yield 0.00%
Description GAN Limited operates as a business-to-business (B2B) supplier of enterprise software-as-a-service solutions to online casino gaming and sports betting applications in the United States, Europe, Latin America, and internationally. The company operates in two segments, B2B and Business-to-Consumer (B2C). It offers and licenses GameSTACK, an internet gaming platform that provides turnkey technology solution for regulated real-money internet gambling, online sports betting, and virtual simulated gaming. The company also offers online sports betting, online casino game, and peer-to-peer poker services through its coolbet.com website, as well as a range of development, marketing, and customer support services designed to deploy and provide ongoing operational support for its software systems. It serves regional operators and individual tribal casino operators. The company was incorporated in 1999 and is headquartered in Irvine, California.
Contact 400 Spectrum Center Drive, Irvine, CA, 92618 https://www.gan.com
IPO Date May 5, 2020
Employees 673
Officers Mr. Brian Chang Chief Financial Officer Ms. Sylvia Tiscareno Chief Legal Officer & Corporate Secretary Mr. Robert Jason Shore Vice President of North America Sportsbook Sales & Operations Mr. Rob Lekites Senior Vice President of Sports Betting Mr. Giuseppe Gardali President of B2B Mr. Ervin Jarvlepp Chief Marketing Officer Mr. Seamus M. McGill Chief Executive Officer & Director Ms. Betty Wong Chief People Officer Mr. Endre Nesset President of B2C Mr. Jan Roos Chief Technology Officer