BETA

stooonks

Understand any stock in simple English
Enter a ticker to learn what the company does and how it makes money.

---

GAN Limited

GAN Limited makes and sells software that lets casinos and gambling companies run their games and take bets over the internet.

GAN Limited is a gambling-software company. It builds the behind-the-scenes systems that let casinos and sportsbooks take bets online — the parts a customer never sees, like the account balances, the odds, and the pipes connecting the app to the actual games. Its customers are casino operators and gambling brands, mostly in the United States, who want an internet betting business without building all the technology themselves.

The company has two main halves. One is business-to-business software: GAN sells a platform that casino operators use to run online casino games and, more recently, sports betting. The other is business-to-consumer, where GAN runs its own internet casino brands, like Coolbet, and keeps the money those players lose. So the same company both rents out the machinery of online gambling and also operates a small gambling business of its own. Why do casinos pay GAN instead of building it in-house? Because getting a gambling product live takes licenses, payment handling, and endless regulatory box-ticking, and GAN already has that plumbing. Its own consumer brands give it a second, more volatile income stream: they can grow fast but also lose money on marketing. The business is small, and it has struggled — it lost money for years, which matters because a software company that can't turn a profit has less room to invest and compete. Its most important recent chapter is that it was acquired. In 2024, the gaming company Sega Sammy bought GAN, taking it off the public market. That's the key thing to know about GAN today: it is no longer an independent, publicly traded company, and its fate now sits inside a larger gambling group rather than in the hands of stock market investors.

Saved answer · last researched 20 Oct 2026