The stock price of GAN Limited (GAN) was up 17.49% in after-hours trading at $17.80 at last check. Last session, GAN shares fell by 7.85 percent or $0.29 to $15.15. GAN stock price fluctuated between $15.13 and $16.49 during the day.

GAN stock has lost -44.18% over the last 12 months. It has decreased by -11.14% over the last week. Over the past six months, the stock has lost a total of -23.95%, and in the past three months, the stock has lost -26.10%.

A strong preliminary report for the second quarter of 2021 helped GAN stock rise.

GAN’s performance in Q2: how did it fare?

GAN is a leading business-to-business supplier of software-as-a-service solutions for internet gambling targeted primarily at land-based casinos in the US. With market leadership positions in several European and Latin American markets, GAN’s Coolbet division is a leading provider of proprietary online sports betting technology. GameSTACK is a proprietary software system developed by GAN for internet gambling enterprises. A GAN license offers turnkey technology solutions for regulated online real money gambling, including online sports gaming, simulated gambling, and virtual online gaming.

Coolbet, GAN’s new Business-to-Consumer (“B2C”) division, contributed strongly to the company’s preliminary financial results for the second quarter of 2021.

• GAN expects to report revenue in the range of $34.0 million to $35.0 million for the second quarter, based on preliminary financial results.
• In addition, GAN expects its adjusted EBITDA to range between $3.0 million and $7.0 million.
• Not only are these figures more than what GAN expected, they also heavily outweigh strategic investments in talent and technology.
• Moreover, GAN now expects full-year revenue to be between $125 million and $135 million in 2021.
• During the quarter, GAN’s B2C offering in Latin America and Northern Europe performed better than expected.
• GAN’s sports betting results for the quarter benefited from a higher-than-expected margin of 9.7%, compared to 6.8% in the first quarter, while marketing spend efficiency remained the same.
• The growth in revenue for the GAN was accelerated by two major international sporting events in the second half of the quarter.

GAN obtained exclusive rights:

GAN Limited announced that the company has reached an agreement to acquire exclusive online rights with Illinois-based Incredible Technologies, Inc. Incredible Technologies has granted GAN the rights to all current and future online games it develops, with over 110 titles planned to be available through this agreement.

Incredible Technologies’ New Jersey online operations will immediately contribute to GAN’s content licensing fees. Through the exclusive online slot partnership, GAN’s exclusive content in the U.S. represented approximately 7% of all slots sold in 2020.