GAN Limited (GAN) 10-Q 17 May 21 2021 Q1 Quarterly report Financial data

COVER

COVER - shares	3 Months Ended
	Mar. 31, 2021	May 03, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-39274
Entity Registrant Name	GAN Limited
Entity Incorporation, State or Country Code	D0
Entity Address, Address Line One	400 Spectrum Center Drive,
Entity Address, Address Line Two	Suite 1900,
Entity Address, City or Town	Irvine,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92618
City Area Code	702
Local Phone Number	964-5777
Title of 12(b) Security	Ordinary shares (Par Value $0.01)
Trading Symbol	GAN
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		42,007,600
Entity Central Index Key	0001799332
Amendment Flag	false
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q1
Security Exchange Name	NASDAQ

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash	$ 52,185	$ 152,654
Accounts receivable, net	11,945	6,818
Prepaid expenses	2,800	1,912
Other current assets	3,423	2,112
Total current assets	70,353	163,496
Capitalized software development costs, net	8,134	6,648
Goodwill	152,734	0
Intangible assets, net	43,855	468
Other assets	3,926	2,634
Total assets	279,002	173,246
Current liabilities
Accounts payable	4,329	4,926
Accrued compensation and benefits	6,127	4,956
Accrued expenses	4,414	3,363
Liabilities to users	6,916	0
Other current liabilities	3,944	4,067
Total current liabilities	25,730	17,312
Deferred income taxes	2,167	0
Other noncurrent liabilities	559	370
Total liabilities	28,456	17,682
Stockholders’ equity
Ordinary shares, $0.01 par value, 100,000,000 shares authorized, 42,004,100 and 36,635,362 shares issued and outstanding at March 31, 2021 and December 31, 2020, respectively	419	365
Additional paid-in capital	312,715	203,842
Accumulated deficit	(50,230)	(45,766)
Accumulated other comprehensive loss	(12,358)	(2,877)
Total stockholders’ equity	250,546	155,564
Total liabilities and stockholders’ equity	$ 279,002	$ 173,246

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Ordinary shares, par value (in dollars per share)	$ 0.01	$ 0.01
Ordinary shares, authorized (in shares)	100,000,000	100,000,000
Ordinary shares, outstanding (in shares)	42,004,100	36,635,362
Ordinary shares, issued (in shares)	42,004,100	36,635,362

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue from services		$ 27,842	$ 7,670
Operating Costs and Expenses [Abstract]
Cost of revenue	[1]	8,719	1,692
Sales and marketing		4,101	863
Product and technology		4,850	1,024
General and administrative	[1]	10,011	2,391
Depreciation and amortization		3,963	853
Total operating costs and expenses		31,644	6,823
Operating income (loss)		(3,802)	847
Interest expense, net		1	8
Income (loss) before income taxes		(3,803)	839
Income tax provision		661	145
Net income (loss)		$ (4,464)	$ 694
Income (loss) per share
Basic (in dollars per share)		$ (0.11)	$ 0.03
Diluted (in dollars per share)		$ (0.11)	$ 0.03
Weighted average ordinary shares outstanding
Basic (in shares)		41,986,083	21,512,225
Diluted (in shares)		41,986,083	23,040,345
[1]	Excludes depreciation and amortization

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (4,464)	$ 694
Other comprehensive loss, net of tax
Foreign currency translation adjustments	(9,481)	(1,320)
Comprehensive loss	$ (13,945)	$ (626)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Ordinary Shares	Additional Paid-in Capital	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2019		21,486,059
Beginning balance at Dec. 31, 2019	$ 15,145	$ 215	$ 40,862	$ (23,024)	$ (2,908)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	694			694
Share-based compensation expense	295		295
Issuance of ordinary shares as partial consideration in Coolbet acquisition (Note 4)		64,908
Issuance of ordinary shares upon exercise of stock options	87	$ 1	86
Foreign currency translation adjustments	(1,320)				(1,320)
Ending balance at Mar. 31, 2020	$ 14,901	$ 216	41,243	(22,330)	(4,228)
Ending balance (in shares) at Mar. 31, 2020		21,550,967
Beginning balance (in shares) at Dec. 31, 2020	36,635,362	36,635,362
Beginning balance at Dec. 31, 2020	$ 155,564	$ 365	203,842	(45,766)	(2,877)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(4,464)			(4,464)
Share-based compensation expense	$ 1,632		1,632
Issuance of ordinary shares as partial consideration in Coolbet acquisition (Note 4)	108,222	108,222
Issuance of ordinary shares upon exercise of stock options	$ 315	$ 1	314
Issuance of ordinary shares as partial consideration of Coolbet acquisition (in shares)		5,260,516
Issuance of ordinary shares as partial consideration in Coolbet acquisition (Note 4)	106,683	$ 53	106,630
Fair value of replacement equity awards issued as consideration in Coolbet acquisition (Note 4)	297		297
Foreign currency translation adjustments	(9,481)				(9,481)
Ending balance at Mar. 31, 2021	$ 250,546	$ 419	$ 312,715	$ (50,230)	$ (12,358)
Ending balance (in shares) at Mar. 31, 2021	42,004,100	42,004,100

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows From Operating Activities
Net income (loss)	$ (4,464)	$ 694
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Amortization of software and intangible assets	3,724	792
Depreciation on property and equipment and finance lease right-of-use assets	239	61
Share-based compensation expense	1,632	295
Other	99	31
Changes in operating assets and liabilities, net of acquisition:
Accounts receivable	(5,109)	(3,047)
Prepaid expenses and other current assets	(919)	(386)
Other assets	97	1,055
Accounts payable	(2,093)	(567)
Accrued compensation and benefits	(43)	598
Accrued expenses	1,528	(64)
Liabilities to users	1,808	0
Other liabilities	(644)	(901)
Net cash used in operating activities	(4,145)	(1,439)
Cash Flows From Investing Activities
Cash paid for acquisition, net of cash acquired	(92,404)	0
Expenditures for capitalized software development costs	(2,153)	(534)
Purchases of gaming licenses	(34)	0
Purchases of property and equipment	(426)	(437)
Net cash used in investing activities	(95,017)	(971)
Cash Flows From Financing Activities
Payments of offering costs	(604)	(909)
Proceeds from exercise of stock options	315	87
Principal payments on finance leases	0	(44)
Net cash used in financing activities	(289)	(866)
Effect of foreign exchange rates on cash	(1,018)	(850)
Net decrease in cash	(100,469)	(4,126)
Cash, beginning of period	152,654	10,279
Cash, end of period	52,185	6,153
Supplemental Disclosure of Noncash Investing and Financing Activities:
Ordinary shares issued as partial consideration to acquire all the outstanding shares of Coolbet (Note 4)	106,683	0
Issuance of unvested stock options in exchange for unvested stock options of Coolbet (Note 4)	297	0
Right-of-use asset obtained in exchange for new operating lease liabilities	$ 188	$ 0

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical)	3 Months Ended
	Mar. 31, 2021shares
Statement of Cash Flows [Abstract]
Shares issued as partial consideration for acquisition	5,260,516

NATURE OF OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS GAN Limited (the “Parent,” and with its subsidiaries, collectively the “Company”) is an exempted company limited by shares, incorporated and registered in Bermuda. GAN plc, the previous parent, began its operations in the United Kingdom (“U.K.”) in 2002 and listed its ordinary shares on the AIM, the London Stock Exchange’s market for smaller companies, in 2013. In May 2020, pursuant to a statutory Scheme of Arrangement under Part 26 of U.K Companies Act of 2006 (“Scheme of Arrangement”) approved by the shareholders of GAN plc, the shareholders of GAN plc exchanged their shares in GAN plc for shares in the Parent, thereby migrating the Company's jurisdiction of organization from the U.K. to Bermuda. Thereafter, GAN Limited became the parent company of GAN plc. GAN plc was renamed GAN (UK) Limited (“GAN UK”). The Company operates in two operating segments – business-to-business (“B2B”) and business-to-consumer (“B2C”). The Company’s B2B segment is involved in the design, development and licensing of sports betting and casino gaming software to land-based casino operators. The Company’s B2C segment provides users with access to its sportsbook, casino games and poker products. The Company is a B2B supplier of Internet gambling Software-as-a-Service solutions predominately to the U.S. land-based casino industry. The Company has developed a proprietary Internet gambling enterprise software system, GameSTACK™ (“GameSTACK”), which it licenses to land-based casino operators as a turnkey technology solution for regulated real money Internet gambling (“RMiG”), Internet sports gaming, and virtual simulated gaming (“SIM”).

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	BASIS OF PRESENTATION Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission for interim reporting. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, in the opinion of management, of a normal recurring nature that are necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented. The financial data and other financial information disclosed in these notes to the condensed consolidated financial statements related to these periods are also unaudited. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ended December 31, 2021 or for any future annual or interim period. The condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited consolidated financial statements as of that date. The accompanying unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Share Exchange and Reorganization On May 5, 2020, GAN Limited completed a share exchange and reorganization pursuant to a Scheme of Arrangement, whereby the shareholders of GAN plc agreed to exchange their ordinary shares on a basis of four ordinary shares to one ordinary share, for shares of GAN Limited, plus a pro rata portion of an aggregate of $2,525 (£2,004 or 2.32 pence per share) in cash (“Share Exchange”). Immediately subsequent to the Share Exchange, the shareholders of GAN Limited held the same economic interest as they had in GAN plc prior to the Share Exchange. Holders of share options in GAN plc also received reciprocal share options as applicable, in GAN Limited. The condensed consolidated financial statements have been prepared as if GAN Limited had been the parent entity for the periods presented. All share and per share amounts prior to the date of the share exchange and reorganization in these condensed consolidated financial statements have been retroactively adjusted to give effect to the Share Exchange.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company’s significant accounting policies included in “Note 3 – Summary of Significant Accounting Policies” of its Annual Report on Form 10-K for the year ended December 31, 2020. In addition to repeating some of these significant accounting policies, the Company has added significant accounting policies during the three months ended March 31, 2021 below. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Due to the inherent uncertainties involved in making estimates, actual results could differ from the original estimates, and may require significant adjustments to these reported balances in the future periods. Principles of Consolidation The condensed consolidated financial statements include the results of the Parent and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. Foreign Currency Translation and Transactions The Company’s reporting currency is the U.S. Dollar while the Company’s foreign subsidiaries use their local currencies as their functional currencies. The assets and liabilities of foreign subsidiaries are translated to U.S. Dollars based on the current exchange rate prevailing at each reporting period. Revenue and expenses are translated into U.S. Dollars using the average exchange rates prevailing for each period presented. Translation adjustments that arise from translating a foreign subsidiary’s financial statements from their functional currency to U.S. Dollars are reported as a separate component of accumulated other comprehensive loss in stockholders’ equity. Gains and losses arising from transactions denominated in a currency other than the functional currency are included in general and administrative expense in the condensed consolidated statements of operations as incurred. Foreign currency transaction and remeasurement gains and losses were a net loss of $9,481 and $1,320 for the three months ended March 31, 2021 and 2020, respectively. Risks and Uncertainties – COVID-19 The novel coronavirus (“COVID-19”) pandemic, which was declared a national emergency in the United States in March 2020, continues to create extensive disruptions to the United States and global economic conditions and financial markets and to businesses and the lives of individuals throughout the world. Federal and state governments have taken, and continue to take, unprecedented actions to contain the spread of the disease, including quarantines, travel bans, shelter-in-place orders, closures of businesses and schools, fiscal stimulus, and legislation designed to deliver monetary aid and other relief for businesses and individuals impacted by the pandemic. Although the Company’s business has proven resilient during the pandemic (for example, with closures of land-based casinos shifting increased revenue to the Company’s online iGaming offerings), it is uncertain whether this trend will continue, as the economic disruption and uncertainty caused by COVID-19 may cause a general decline in iGaming and gambling in general over time and therefore, the impact of COVID-19 on the Company’s business is ongoing. The cancellation of certain sporting events has reduced sports betting transactions and it is uncertain when the number of live sporting events will return to pre-pandemic levels. Any of these consequences may adversely impact player activity on the Company’s platforms, which would negatively impact the business. As part of the preparation of these condensed consolidated financial statements, the Company has considered the impact of COVID-19 on the accounting policies and judgments and estimates. Significant uncertainties exist concerning the magnitude of impact and duration of the COVID-19 pandemic. Management and the Board of Directors are monitoring the impacts of COVID-19 on the Company’s operations and have not identified any major operational challenges through the date of issuance of these condensed consolidated financial statements. The Company has not experienced significant impacts to its liquidity to date as a result of COVID-19. COVID-19 may impact the Company’s ability to access capital to the extent it effects the U.S capital markets. The Company has assessed the extent to which the COVID-19 has impacted events after the reporting date and has not identified additional items to disclose as a result. Revenue Recognition Platform and Content Fees The Company’s platform and content revenues are generated primarily from its Internet gambling Software-as-a-Service ("SaaS") platform, GameSTACK, that its customers use to provide real money and simulated Internet gaming, and online sports betting. The Company enters into service agreements with its customers, that generally range from three In certain service agreements with SIM customers, the Company receives the fees for in-game virtual credit purchases made by end-user players and remits payment to the SIM casino operator (customer) for their share of the SIM revenues generated from the Company’s platform. At March 31, 2021 and December 31, 2020, the Company has recorded a liability of $2,486 and $2,520, respectively, for its customers’ share of the fees within other current liabilities in the condensed consolidated balance sheets. The Company’s promise to provide the SaaS platform and content licensing services on the hosted software is a single performance obligation. This performance obligation is recognized over time, as the Company provides services to its customer in its delivery of services to the player end user. The Company’s customers simultaneously receive and consume the benefits provided by the Company as it delivers services to its customers. The transaction price is considered variable consideration and is generally due thirty days from the date of invoice. The Company’s RMiG and SIM enterprise software platform offerings include iGaming content licensing services. The GameSTACK platform is capable of supporting, and is available to the customer, for both proprietary and third-party licensed gaming content. The customer, in this case the casino operator, generally controls the determination of which gaming content will be offered in their online casinos. A customer can utilize the Company’s proprietary or licensed gaming content, or a customer can direct the Company to procure third-party gaming content on its behalf. The Company has determined it acts as the principal for providing the content licensing services when the Company controls the gaming content, and therefore presents the revenue on a gross basis in the consolidated statements of operations. When the customer directs the Company to procure third-party gaming content, the Company determined it is deemed an agent for providing the content licensing services, and therefore, records the revenue, net of licensing costs paid to the suppliers of that gaming content, in the consolidated statements of operations. Gaming The Company operates the B2C gaming site www.Coolbet.com outside of the United States, which is built on proprietary software and includes the following product offerings: sportsbook, poker, casino, live casino and virtual sports. The Company manages an online sportsbook allowing users to place various types of wagers on the outcome of sporting events conducted around the world. The Company operates as the bookmaker and offers multiple odds-scenarios-based wagering on events. When a user’s wager wins, the Company pays the user a pre-determined amount known as fixed odds. Revenue from sportsbook is reported net after deduction of player winnings and bonuses. Revenue from wagers is recognized when the outcome of the event is known. The Company offers live casino through its digital online casino offering in select markets, allowing users to place a wager and play games virtually at retail casinos. The Company offers users a catalog of over 1,600 third-party iGaming products such as digital slot machines and table games such as blackjack and roulette. Revenue from casino games is reported net after deduction of winnings, jackpot contribution and customer bonuses. Peer-to-peer poker offerings allow users to play poker against one another on the Company’s online poker platform for prize money. Revenue from poker is reported at rake, less tournament costs and customer bonuses. In each of the online gaming products, a single performance obligation exists at the time a wager is made to operate the games and award prizes or payouts to users based on a particular outcome. Revenue is recognized at the conclusion of each contest, wager, or wagering game hand. Additionally, certain incentives given to users, for example, that allow the user to make an additional wager at a reduced price, may provide the user with a material right which gives rise to a separate performance obligation. Such user incentives are recognized as revenue upon redemption or when the incentive expires. Development Services Gaming Development Services Revenue is generated from fees for development of games for use on its RMiG and SIM platforms. The development revenue is recognized at the point in time when control of the game is transferred, typically the earlier of the customer’s acceptance or upon receipt of the certification of the game. Platform Development Services Platform development services consist of fees charged for initial deployment of iGaming solutions, as well as ongoing development services to provide updates to the software for enhanced functionality or customization. Development services fees for the initial deployments of the iGaming solutions are typically charged at a fixed fee. Ongoing platform development services are typically billed monthly, at a daily rate, for services performed. Revenue from platform development services is recognized over time as the Company performs the services. For development services charged at a daily rate, revenue is measured using an input method based on effort expended, which uses direct labor hours incurred. As the performance obligations in these instances relate to the provision of development services over time, this method best reflects the transfer of control as the Company performs. In contracts that require a portion of the consideration to be received in advance, at the commencement of the contract, such advance payment is initially recorded as a contract liability. Computer Hardware Sales The Company resells third-party hardware, such as computing servers and other technical devices, upon which the GameSTACK software platform is installed for its customers. These products are not required to be purchased in order to access the GameSTACK platform but are sold as a convenience to the customer. Revenue is recognized at the point in time when control of the hardware transfers to the customer. Control is transferred after the hardware has been procured, delivered, installed at the client’s premises and configured to allow for remote access. The Company has determined that it is acting as the principal in these transactions as it takes responsibility for procuring, delivering, installing and configuring the hardware at the customer’s location and takes control of the hardware, prior to transfer. Revenue is presented at the gross amount of consideration to which it is entitled from the customer in exchange for the hardware. Patent Licensing Revenue The Company generates revenue from time to time from the licensing of its U.S. patent, which governs the linkage of on-property reward cards to their counterpart Internet gambling accounts together with bilateral transmission of reward points between the Internet gambling technology system and the land-based casino management system present in all U.S casino properties. The nature of the promise in transferring the license is to provide a right to use the patent as it exists. The Company does not have to undertake activities to change the functionality of the patent during the license period and the license has significant stand-alone functionality. Therefore, the Company recognizes the revenue from the license of the patent, at the point in time when control of the license is transferred to the customer. Control is determined to transfer at the point in time the customer is able to use and benefit from the license. Contracts with Multiple Performance Obligations For customer contracts that have more than one performance obligation, the transaction price is allocated to the performance obligations in an amount that depicts the relative stand-alone selling prices of each performance obligation. Judgment is required in determining the stand-alone selling price for each performance obligation. In determining the allocation of the transaction price, an entity is required to maximize the use of observable inputs. When the stand-alone selling price of a good or service is not directly observable, an entity is required to estimate the stand-alone selling price. When a customer contract, includes platform and content services, and development services, the variable consideration for platform and content services of the transaction price is allocated entirely to the performance obligation for platform and content services. For gaming, the Company allocates a portion of the user’s wager to incentives that create material rights that are redeemed or expired in the future. The allocated revenue for gaming wagers is primarily recognized when the wagers occur because all such wagers settle immediately. The Company applies a practical expedient by accounting for revenue from gaming on a portfolio basis because such wagers have similar characteristics, and the Company reasonably expects the effects on the financial statements of applying the revenue recognition guidance to the portfolio to not differ materially from that which would result if applying the guidance to an individual wagering contract. Cash The Company is required to maintain minimum cash balances to satisfy its liabilities to users. Such balances are included within cash on the condensed consolidated balance sheets and are not subject to creditor claims. Goodwill Goodwill represents the excess of the fair value of the consideration transferred over the estimated fair values of the identifiable assets acquired and liabilities assumed on the acquisition date. As disclosed in Note 4, the Company has recorded goodwill in connection with the acquisition of Coolbet on January 1, 2021. Goodwill is not amortized, but rather is reviewed for impairment annually or more frequently if facts or circumstances indicate that the carrying value may not be recoverable. The Company has determined that there are two reporting units: B2C and B2B. In its goodwill impairment testing, the Company has the option to perform a qualitative assessment to determine whether it is more-likely-than-not that the fair value of the reporting unit, including goodwill, is less than its carrying amount prior to performing the quantitative impairment test. The qualitative assessment evaluates various events and circumstances, such as macro-economic conditions, industry and market conditions, cost factors, relevant events and financial trends that may impact a reporting unit’s fair value. If it is determined that the estimated fair value of the reporting unit is more-likely-than not less than its carrying amount, including goodwill, the quantitative goodwill impairment test is required. Otherwise, no further analysis would be required. If the quantitative impairment test for goodwill is deemed necessary, this quantitative impairment analysis compares the fair value of the Company’s reporting unit to its related carrying value. If the fair value of the reporting unit is less than its carrying amount, goodwill is written down to the fair value and an impairment loss is recognized. If the fair value of the reporting unit exceeds its carrying amount, no further analysis is required. Fair value of the reporting unit is determined using valuation techniques, primarily using discounted cash flow analysis. The Company will perform its annual impairment review of goodwill as of October 1 st and when events or circumstances change between annual impairment tests that may indicate that it is more likely than not the fair value of a reporting unit may be below its carrying amount. Long-lived Assets Long-lived assets, except goodwill, consist of property and equipment, and finite lived acquired intangible assets, such as developed software, gaming licenses, trademarks, trade names and customer relationships. Intangible assets are amortized on a straight-line basis over their estimated useful lives. The Company considers the period of expected cash flows and underlying data used to measure the fair value of the intangible assets when selecting the estimated useful lives. The fair value of the acquired intangible assets is primarily determined using the income approach. In performing these valuations, the Company’s key underlying assumptions used in the discounted cash flows were projected revenue, gross margin expectations and operating cost estimates. There are inherent uncertainties and management judgment required in these valuations. Acquired in-process technology consists of a proprietary technical platform. The Company reviews the in-process technology for impairment at least annually or more frequently if an event occurs creating the potential for impairment, until such time as the in-process technology efforts are completed. When completed, the developed technology will be amortized over its estimated useful life based on and using amortization methods that reflect the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized. The technology is expected to be completed in the latter part of 2021. Long-lived assets, except goodwill, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company compares the undiscounted cash flows expected to be generated by that asset or asset group to their carrying amount. If the carrying amount of the long-lived asset or asset group are not recoverable on an undiscounted cash flow basis, an impairment charge is recognized to the extent that the carrying amount exceeds fair value. Fair value is determined through various techniques, such as discounted cash flow models using probability weighted estimated future cash flows and the use of valuation specialists. Capitalized Software Development Costs, net The Company capitalizes certain development costs related to its software platforms during the application development stage. Costs associated with preliminary project activities, training, maintenance and all other post implementation stage activities are expensed as incurred. Software development costs are capitalized when application development begins, it is probable that the project will be completed, and the software will be used as intended. The Company capitalizes certain costs related to specific upgrades and enhancements when it is probable that expenditures will result in additional functionality of the platform to its customers. The capitalization policy provides for the capitalization of certain payroll and payroll related costs for employees who spent time directly associated with development and enhancements of the software platform. Capitalized software development costs are amortized on a straight-line basis over their estimated useful lives, which is generally three years and are included within depreciation and amortization in the condensed consolidated statements of operations. Liabilities to Users The Company records liabilities for user account balances. User account balances consist of user deposits, promotional awards and user winnings less user withdrawals and user losses. Share-based Compensation Share-based compensation expense is recognized for equity-settled stock options and restricted stock issued to employees and non-employee members of the Company’s Board of Directors based on the fair value of these awards on the date of grant. The fair value of the stock options is estimated using a Black-Scholes option pricing model and the fair value of the restricted stock awards (restricted stock and restricted stock units) is based on the market price of the Company’s stock on the date of grant. Share-based compensation is recorded over the requisite service period, generally defined as the vesting period. For awards with graded vesting and only service conditions, compensation cost is recorded on a straight-line basis over the requisite service period of the entire award. Forfeitures are recorded in the period in which they occur. Income (Loss) Per Share, Basic and Diluted Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average number of ordinary shares outstanding during the year. In periods of income, diluted income per share is calculated by dividing net income by the weighted average number of ordinary shares outstanding during the year plus the assumed conversion of all potential dilutive ordinary shares. The Company determines the potentially dilutive ordinary shares using the treasury stock method. In periods of a net loss, basic and dilutive ordinary shares would be anti-dilutive. Reclassifications of Prior Period Amounts Certain prior period amounts have been reclassified to conform to the current period presentation. Specifically, the due to the Coolbet acquisition in 2021, the Company has reclassified certain balances that were previously presented in separate balance sheet captions to other current and noncurrent assets, other accrued expenses, and other current and noncurrent liabilities in the condensed consolidated balance sheet as of December 31, 2020. These reclassifications had no impact on previously disclosed current assets, current liabilities, total assets and total liabilities.

ACQUISITION OF VINCENT GROUP P.

ACQUISITION OF VINCENT GROUP P.L.C.	3 Months Ended
	Mar. 31, 2021
Business Combination and Asset Acquisition [Abstract]
ACQUISITION OF VINCENT GROUP P.L.C.	ACQUISITION OF VINCENT GROUP P.L.C. On January 1, 2021, the Company completed the acquisition of all outstanding shares of Vincent Group p.l.c. ("Coolbet"). Coolbet is a developer and operator of an online sports betting and casino platform. Coolbet operates a B2C casino and sports-betting platform that is accessible through its website in eight national markets across Northern Europe (Estonia, Finland, Iceland, Norway and Sweden), Latin America (Chile and Peru) and North America (Canada). The Company acquired Coolbet to take advantage of Coolbet’s user interface and proprietary technical platform, to quickly integrate and offer a proprietary sportsbook offering to land-based casino operators in the United States. The Company intends to continue to operate in the United States solely as a B2B provider to casinos and other operators. The addition of a proprietary sports betting engine will give the Company the ability to offer a “one-stop” solution to U.S. retail casino operators, while at the same time preserving the flexibility to incorporate third-party solutions when specified. The Company expects that its technology platform and expansive library of proprietary and third-party gaming content should enable it to add additional casino gaming content and platform support for the Company’s B2C offering in Europe and Latin America. The following table summarizes the consideration transferred and the recognized amounts of identifiable assets acquired and liabilities assumed at the acquisition date: Fair value of the consideration transferred: Cash paid to Vincent Group shareholders $ 111,118 Restricted ordinary shares issued to Vincent Group shareholders (1) 106,683 Replacement equity-based awards to holders of Vincent Group equity-based awards (2) 297 Total $ 218,098 (1) The share consideration represents 5,260,516 ordinary shares issued to the Vincent Group shareholders multiplied by the Company’s share price of $20.28 on the acquisition date. These unregistered shares were issued subject to a contractual lock-up period that further restricts the ability of these shares to be transferred or sold. (2) The replacement equity-based awards consist of options to purchase 67,830 shares of the Company’s ordinary shares. In accordance with the applicable accounting guidance, the fair value of replacement equity-based awards attributable to pre-combination service is recorded as part of the consideration transferred in the acquisition, while the fair value of the replacement equity-based awards attributable to post-combination service is recorded separately from the business combination and recognized as compensation cost in the post-acquisition period over the remaining service period. The fair value of the replacement awards was estimated using the Black-Scholes option pricing model utilizing various assumptions. The vesting terms and conditions of the unvested options were replaced with terms identical to those of the original awards. Recognized amounts of identifiable assets acquired and liabilities assumed at fair value: Cash $ 18,714 Prepaid expenses and other current assets 1,512 Property and equipment 343 Operating lease right-of-use assets 416 Intangible assets 48,370 Other noncurrent assets 73 Accounts payable (1,182) Liabilities to users (5,373) Other current liabilities (1,797) Operating lease liabilities (167) Deferred income taxes (2,265) Noncurrent operating lease liabilities (231) Total identifiable net assets 58,413 Goodwill 159,685 $ 218,098 Identifiable intangible assets acquired as part of the acquisition, including their respective expected useful lives, were as follows: Estimated useful life Fair Value Trade names and trademarks 10.0 $ 5,800 Developed technology 3.0 28,100 In-process developed technology — 8,400 Customer relationships 3.0 5,600 Licenses various 470 $ 48,370 The Company has not yet finalized the purchase price allocation, which is pending further analysis of the net assets acquired. The above cash consideration is subject to adjustment for the final working capital adjustment. Additionally, the Company is continuing to evaluate the tax impacts related to the acquisition. Accordingly, the purchase price allocation shown above could change materially. The Company recorded a net deferred income tax liability of $2,265 associated with the intangible assets recorded in the acquisition accounting. The Company accounted for the acquisition of Coolbet using the acquisition method. The acquisition is treated as a stock purchase for accounting purposes. The goodwill is primarily attributable to the expected incremental revenue and profit to be derived from the Company’s introduction of Coolbet’s sports betting engine technology and intellectual technology to B2B customers in the United States and the assembled workforce of Coolbet. The Company intends to offer the Coolbet sports betting engine and associated capability to existing and new customers alongside its existing platform and Internet casino capability, as a complete turnkey solution or as an alternative sports betting engine to those currently relied upon by customers. Goodwill is not amortized, but is reviewed for impairment at least annually or if an event occurs or circumstances change that would more likely than not indicate the goodwill could be impaired. Goodwill recognized in the acquisition is not deductible for tax purposes. Goodwill arising from the acquisition has been preliminary assigned as of the acquisition date to the Company’s B2C and B2B segments in the amounts of $92,138 and $67,547, respectively, since they are expected to benefit from the synergies of the combination. The B2C and B2B segments are also the reporting units. The Company incurred $1,309 of acquisition-related costs in total, of which $290 were recorded during the three months ended March 31, 2021 and the remaining costs were incurred in 2020. Following the acquisition, Coolbet entirely comprises the Company's B2C segment. Refer to Note 12 for the revenue and segment results of Coolbet since the acquisition date. Pro Forma Operating Results The operating results of Coolbet have been included in the condensed consolidated financial statements, beginning on January 1, 2021. The following unaudited pro forma information presents consolidated financial information as if the Coolbet acquisition had occurred on January 1, 2020. The unaudited pro forma results reflect certain adjustments related to the acquisition, such as amortization expense resulting from the intangible assets acquired, share-based compensation related to unvested replacement awards and an adjustment to reflect the Company’s income tax rate. Acquisition costs of $1,309 are also included as a nonrecurring charge. Such pro forma operating results were prepared for comparative purposes only and do not purport to be indicative of what would have occurred had the acquisition been made as of January 1, 2020 or of the results that may occur in the future. Three Months Ended Revenues $ 14,815 Net loss $ (2,811) Loss per share – basic and diluted $ (0.10)

CAPITALIZED SOFTWARE DEVELOPMEN

CAPITALIZED SOFTWARE DEVELOPMENT COSTS, NET	3 Months Ended
	Mar. 31, 2021
Research and Development [Abstract]
CAPITALIZED SOFTWARE DEVELOPMENT COSTS, NET	CAPITALIZED SOFTWARE DEVELOPMENT COSTS, NET Capitalized software development costs, net at March 31, 2021 and December 31, 2020 consisted of the following: March 31, 2021 December 31, 2020 Capitalized software development costs $ 28,314 $ 26,507 Development in progress 3,318 2,641 Total capitalized software development costs 31,632 29,148 Less: accumulated amortization (23,498) (22,500) Total $ 8,134 $ 6,648 At March 31, 2021, development in progress primarily represents costs associated with new content and enhancements to the software platform, as well as integration of Coolbet's sportsbook into the B2B platform, which are expected to be fully placed in service by the end of 2021.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill, by segment, for the three months ended March 31, 2021 were as follows: B2B B2C Total Balance at December 31, 2020 $ — $ — $ — Goodwill acquired in Coolbet acquisition 67,547 92,138 159,685 Effect of foreign currency translation (2,941) (4,010) (6,951) Balance at March 31, 2021 $ 64,606 $ 88,128 $ 152,734 Definite-lived intangible assets, net consisted of the following: March 31, 2021 Weighted Average Amortization Period Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology 3.0 years $ 26,877 $ (2,240) $ 24,637 In-process technology — 8,034 — 8,034 Customer relationships 3.0 years 5,356 (446) 4,910 Trade names and trademarks 10.0 years 5,898 (486) 5,412 Licenses 6.7 years 1,860 (998) 862 $ 48,025 $ (4,170) $ 43,855 December 31, 2020 Weighted Average Amortization Period Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names and trademarks 3.0 years $ 343 $ (343) $ — Licenses 5.3 years 1,366 (898) 468 $ 1,709 $ (1,241) $ 468

ACCRUED EXPENSES

ACCRUED EXPENSES	3 Months Ended
	Mar. 31, 2021
Payables and Accruals [Abstract]
ACCRUED EXPENSES	ACCRUED EXPENSES Accrued expenses consisted of the following: March 31, 2021 December 31, 2020 Content licensing fees $ 2,103 $ 1,984 Sales taxes 929 756 Income taxes 890 17 Other 492 606 Total $ 4,414 $ 3,363

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
OTHER CURRENT LIABILITIES	OTHER CURRENT LIABILITIES Other current liabilities consisted of the following: March 31, 2021 December 31, 2020 Revenue share due to SIM customers $ 2,486 $ 2,520 Contract liabilities 891 1,083 Operating lease liabilities 465 262 Other 102 202 Total $ 3,944 $ 4,067

SHARE-BASED COMPENATION

SHARE-BASED COMPENATION	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION In April 2020, the Board of Directors established the GAN Limited 2020 Equity Incentive Plan (“2020 Plan”) which has been approved by the shareholders. The 2020 Plan provides for grants of up to 4,400,000 shares then increases through 2029, by the lesser of 4% of the previous year’s total outstanding ordinary shares on December 31 st or as determined by the Board of Directors, for ordinary shares, incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock grants, stock units, and other equity awards for issuance to employees, consultant or non-employee directors. The share-based awards are issued at no less than fair market value of an ordinary share on the date of grant. At March 31, 2021, there were 726,581 shares remaining available for future issuance under the 2020 Plan. Stock Options Stock option awards are granted with an exercise price equal to the fair market value, as determined under the 2020 Plan, of the Company's ordinary shares on the date of grant. Stock option awards generally vest 25% after one year and then monthly over the next 36 months thereafter and have a maximum term of ten years. During the three months ended March 31, 2021, the Board of Directors approved the issuance of options to purchase 1,148,310 ordinary shares to employees, including executives and certain long-standing employees under the 2020 Plan. In addition, in accordance with the acquisition agreement, the Company issued 67,830 replacement stock option awards to continuing employees of Coolbet. The fair value of the replacement stock options will be recognized ratably over the remaining service period, ranging from one A summary of the stock option activity as of and for the three months ended March 31, 2021 is as follows: Number of Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2020 3,061,859 $ 8.06 8.5 $ 37,410 Granted 1,216,140 24.35 Exercised (108,222) 2.40 Forfeited/expired or cancelled (3,080) 18.53 Outstanding at March 31, 2021 4,166,697 $ 12.96 9.2 $ 21,840 Options exercisable at March 31, 2021 1,820,667 $ 3.08 7.7 $ 27,524 The Company recorded equity-settled share-based compensation expense related to stock-options of $1,187 and $295 for the three months ended March 31, 2021 and 2020, respectively. At March 31, 2021, there was $22,945 of total unrecognized compensation cost related to nonvested stock options granted under the 2020 Plan. The unrecognized compensation cost is expected to be recognized over a weighted-average period of 3.6 years. The grant date fair value of each stock option grant was determined using the following weighted average assumptions: Three Months Ended 2021 2020 Expected stock price volatility 61.50 % 67.60 % Expected term (in years) 4.95 5.00 Risk-free interest rate 0.72 % 0.44 % Dividend yield 0 % 0 % The weighted average grant date fair value of options granted was $12.86 and $4.72 for the three months ended March 31, 2021 and 2020, respectively. The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model that uses the assumptions noted above. Estimating the grant date fair values for employee stock options requires management to make assumptions regarding expected volatility of the value of those underlying shares, the risk-free rate of the expected life of the stock options and the date on which share-based compensation will be settled. Expected volatility is determined by reference to volatility of certain identified peer group share trading information and stock prices on the Nasdaq. The risk-free interest rate for the expected term of the option is based on the U.S. Treasury yield curve in effect at the time of grant. For the three months ended March 31, 2020 (prior to the Company's initial public offering in May 2020), expected volatility was determined by reference to the historic volatility of GAN UK’s share price on the AIM, the London Stock Exchange. The risk-free interest rate for the expected term of the option was based on the U.K. Gilt yield curve in effect at the time of grant. The expected term of the options is based on historical data and represents the period of time that options granted are expected to be outstanding. In addition, in 2020, the Company recorded a liability for social taxes and income taxes related to certain unexercised legacy U.K. Enterprise Management Incentive regime options. The Company is accounting for the required cash payment as a cash-settled share-based compensation transaction. The company recorded a decrease of $93 in the liability related to these options during the three months ended March 31, 2021. Restricted Stock Units On March 9, 2021, the Board of Directors approved the issuance of 15,537 restricted stock units to non-employee directors. The restricted stock units vest over one year from the date of grant with 25% vesting per quarter. The value of restricted stock units is based on the market value of the Company’s ordinary shares at the date of grant. The restricted stock units were issued with a grant date fair value of $25.10 per share. The Company recorded share-based compensation expense related to the restricted stock units of $25 for the three months ended March 31, 2021. At March 31, 2021, there was $365 of total unrecognized compensation cost related to nonvested restricted stock units. The remaining cost is expected to be recognized during the next twelve months. Restricted Stock Awards On June 15, 2020, the Board of Directors approved the issuance of 93,680 restricted stock awards to the chief executive officer and non-employee directors. The restricted stock awards vest one year from the date of grant. The value of restricted stock is based on the market value of the Company’s ordinary shares at the date of grant. The restricted stock awards were issued with a grant date fair value of $18.19 per share. The Company recorded share-based compensation expense related to the restricted stock awards of $420 for the three months ended March 31, 2021. At March 31, 2021, there was $350 of total unrecognized compensation cost related to nonvested restricted stock awards. The remaining cost is expected to be recognized in 2021.

INCOME (LOSS) PER SHARE

INCOME (LOSS) PER SHARE	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
INCOME (LOSS) PER SHARE	INCOME (LOSS) PER SHARE Basic income (loss) per ordinary share is computed by dividing net income (loss) by the weighted average number of ordinary shares outstanding during the period. Diluted income per ordinary share further includes any ordinary shares available to be issued upon the exercise of outstanding stock option and restricted stock awards if such inclusions would be dilutive. The Company determines the potentially dilutive ordinary shares using the treasury stock method. The following table sets forth the computation of basic and diluted income (loss) per share for the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Numerator: Net income (loss) $ (4,464) $ 694 Denominator: Weighted average ordinary shares outstanding, basic 41,986,083 21,512,225 Weighted average effect of potentially dilutive ordinary shares: Stock options — 1,528,120 Restricted stock awards — — Restricted stock units — — Weighted average ordinary shares outstanding, diluted 41,986,083 23,040,345 Income (loss) per share: Basic $ (0.11) $ 0.03 Diluted $ (0.11) $ 0.03 Certain stock options, nonvested restricted stock awards and restricted stock units were excluded from the computation of diluted weighted average ordinary shares outstanding, as inclusion would be anti-dilutive, are summarized as follows: Three Months Ended 2021 2020 Stock options 4,166,697 — Restricted stock awards 93,680 — Restricted stock units 15,537 — Total 4,275,914 —

REVENUES

REVENUES	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES The following table reflects revenues recognized for the three months ended March 31, 2021 and 2020 in line with the timing of transfer of services: Three Months Ended 2021 2020 Revenues recognized at a point in time $ 17,737 $ — Revenues from services delivered over time 10,105 7,670 Total $ 27,842 $ 7,670 During the three months ended March 31, 2021, revenues recognized at a point in time was $17,737, of which $14,312 related to gaming revenues and $3,425 related to development services and other revenues. During the three months ended March 31, 2021, the Company had two customers which individually generated revenue greater than 10% of the Company's total revenue. These customers generated revenue of $3,995 and $3,633, respectively and represented a combined 27.4% of total revenues, all of which related to the B2B segment. During the three months ended March 31, 2020, the Company had revenue from one customer of $4,348, or 56.7% of total revenue, all of which related to the B2B segment. Costs to Obtain a Contract The Company defers contract costs that are recoverable and incremental to obtaining sales contracts with its customers. Contract costs, consisting primarily of sales commissions, are amortized on a systemic basis that is consistent with the transfer to the customer of the services to which the asset relates. Contract costs are periodically reviewed for impairment. An impairment exists if the carrying amount of the asset exceeds the amount of the consideration the entity expects to receive in exchange for providing the services, less the remaining costs that relate directly to providing those services. Deferred contract costs are recorded in other current assets and other assets in the condensed consolidated balance sheets. The following table reflects the activity in deferred contract costs for the periods presented: Three Months Ended 2021 2020 Balance at the beginning of the period $ 353 $ 86 Capitalized expenditures for the period 52 0 Amortization (22) (2) Effect of foreign currency translation 2 (6) Balance at the end of the period $ 385 $ 78 Contract and Contract-Related Liabilities The Company has four types of liabilities related to contracts with customers: (i) cash consideration received in advance from customers related to development services not yet performed or hardware deliveries not yet completed (ii) incentive program obligations, which represents the deferred allocation of revenue relating to incentives in the online gaming operations (iii) user balances, which are funds deposited by customers before gaming play occurs and (iv) unpaid winnings and wagers contributions to jackpot. These liabilities are expected to be recognized as revenue within one year of being purchased, earned or deposited. Such liabilities are recorded in Liabilities to Users and Other Current Liabilities on the condensed consolidated balance sheets. The contract and contract-related liabilities for the periods presented were as follows: Three Months Ended 2021 2020 Contract and contract-related liabilities, beginning of the period $ 1,083 $ 3,023 Contract and contract-related liabilities, end of the period 7,807 2,095 Revenue recognized from amounts included in contract and contract-related liabilities at the beginning of the period 227 777

SEGMENT REPORTING

SEGMENT REPORTING	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING Prior to January 1, 2021, the Company operated its business and reported its results through two segments - RMiG and SIM. With the acquisition of Coolbet on January 1, 2021, the Company changed the way it operates its business and now reports its results through two segments: B2C and B2B. The financial information for the three months ended March 31, 2020 has been recast to conform to the new segment presentation. Information reported to the Company’s chief executive officer, the chief operating decision maker ("CODM"), for the purpose of resource allocation and assessment of the Company’s segmental performance is primarily focused on the origination of the revenue streams. The CODM evaluates performance and allocates resources based on the segment's revenue and gross profit. Segment gross profit represents the gross profit earned by each segment without allocation of each segment’s share of depreciation and amortization expense, sales and marketing expense, product and technology expense, general and administrative expense, interest costs and income taxes. A description of each reportable segment is as follows: B2B Segment – This segment develops, markets and sells instances of iSight Back Office and GameSTACK technology that incorporates comprehensive player registration, account funding and back-office accounting and management tools that enable the casino operator customers to efficiently, confidently and effectively extend their presence online in places that have permitted online real money gambling. Where certain jurisdictions have not yet permitted any form of online real money gambling, these B2B technologies provide simulated gambling solutions for the Company's casino operator customers as a way to bring their retail brand online and create a new Internet gaming experience to their players while leveraging their on-property rewards program. B2C Segment – This segment develops and operates a B2C online sports betting and casino platform accessible through its website in eight national markets across Northern Europe (Estonia, Finland, Iceland, Norway and Sweden), Latin America (Chile and Peru) and North America (Canada). Summarized financial information by reportable segments for the three months ended March 31, 2021 and 2020 is as follows: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 B2B B2C Total B2B B2C Total Revenues $ 13,530 $ 14,312 $ 27,842 $ 7,670 $ — $ 7,670 Cost of revenues (1) 2,742 5,977 8,719 1,692 — 1,692 Segment gross profit (1) $ 10,788 $ 8,335 $ 19,123 $ 5,978 $ — $ 5,978 (1) Excludes depreciation and amortization The following table presents a reconciliation of segment gross profit to consolidated income (loss) before income taxes for the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Segment gross profit (1) $ 19,123 $ 5,978 Sales and marketing 4,101 863 Product and technology 4,850 1,024 General and administrative (1) 10,011 2,391 Depreciation and amortization 3,963 853 Interest expense, net 1 8 Income (loss) before income taxes $ (3,803) $ 839 (1) Excludes depreciation and amortization Assets and liabilities are not separately analyzed or reported to the CODM and are not used to assist in decisions surrounding resource allocation and assessment of segment performance. As such, an analysis of segment assets and liabilities has not been included in this financial information. Three Months Ended 2021 2020 B2B: Platform and content fees $ 9,184 $ 5,933 Development services and other 4,346 1,737 Total B2B $ 13,530 $ 7,670 B2C: Sportsbook $ 7,151 $ — Casino 6,471 — Poker 690 — Total B2C $ 14,312 $ — Total revenues $ 27,842 $ 7,670

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The provision for income taxes for the three months ended March 31, 2021 and 2020 consisted of the following: Three Months Ended 2021 2020 Domestic (Bermuda) $ — $ — Foreign (Non-Bermuda) 661 145 Total $ 661 $ 145 The Company’s effective income tax rate was (17.4)% and 17.3% for the three months ended March 31, 2021 and 2020, respectively. The Company uses an estimated annual effective tax rate to determine the quarterly income tax provision, which is adjusted each quarter based on information available at the end of that quarter. The difference between the statutory tax rate of 0% in Bermuda, the Company's country of domicile, and the effective income tax rate for the three months ended March 31, 2021 was due primarily to a mix of earnings in foreign jurisdictions that are subject to current tax. The acquisition of Coolbet (Note 4) did not cause a material change in the effective tax rate for the three months ended March 31, 2021 from the Company's annual effective tax rate for the year ended December 31, 2020 because the majority of

CONTINGENCIES

CONTINGENCIES	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
CONTINGENCIES	CONTINGENCIESThe Company may be subject to legal actions and claims arising from contracts or other matters from time to time in the ordinary course of business. Management is not aware of any pending or threatened litigation, which are considered other than routine legal proceedings. The Company believes that the ultimate disposition or resolution of its routine legal proceedings will not have a material adverse effect on its financial position, results of operations or liquidity.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission for interim reporting. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual consolidated financial statements and reflect all adjustments, in the opinion of management, of a normal recurring nature that are necessary for a fair presentation of the financial position, results of operations and cash flows for the periods presented. The financial data and other financial information disclosed in these notes to the condensed consolidated financial statements related to these periods are also unaudited. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ended December 31, 2021 or for any future annual or interim period. The condensed consolidated balance sheet as of December 31, 2020 included herein was derived from the audited consolidated financial statements as of that date. The accompanying unaudited condensed consolidated financial statements and notes thereto should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Use of Estimates	Use of Estimates The preparation of the condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States ("U.S. GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Due to the inherent uncertainties involved in making estimates, actual results could differ from the original estimates, and may require significant adjustments to these reported balances in the future periods.
Principles of Consolidation	Principles of Consolidation The condensed consolidated financial statements include the results of the Parent and its wholly-owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.
Foreign Currency, Translation and Transactions	Foreign Currency Translation and Transactions The Company’s reporting currency is the U.S. Dollar while the Company’s foreign subsidiaries use their local currencies as their functional currencies. The assets and liabilities of foreign subsidiaries are translated to U.S. Dollars based on the current exchange rate prevailing at each reporting period. Revenue and expenses are translated into U.S. Dollars using the average exchange rates prevailing for each period presented. Translation adjustments that arise from translating a foreign subsidiary’s financial statements from their functional currency to U.S. Dollars are reported as a separate component of accumulated other comprehensive loss in stockholders’ equity. Gains and losses arising from transactions denominated in a currency other than the functional currency are included in general and administrative expense in the condensed consolidated statements of operations as incurred. Foreign currency transaction and remeasurement gains and losses were a net loss of $9,481 and $1,320 for the three months ended March 31, 2021 and 2020, respectively.
Risks and Uncertainties - COVID-19	Risks and Uncertainties – COVID-19 The novel coronavirus (“COVID-19”) pandemic, which was declared a national emergency in the United States in March 2020, continues to create extensive disruptions to the United States and global economic conditions and financial markets and to businesses and the lives of individuals throughout the world. Federal and state governments have taken, and continue to take, unprecedented actions to contain the spread of the disease, including quarantines, travel bans, shelter-in-place orders, closures of businesses and schools, fiscal stimulus, and legislation designed to deliver monetary aid and other relief for businesses and individuals impacted by the pandemic. Although the Company’s business has proven resilient during the pandemic (for example, with closures of land-based casinos shifting increased revenue to the Company’s online iGaming offerings), it is uncertain whether this trend will continue, as the economic disruption and uncertainty caused by COVID-19 may cause a general decline in iGaming and gambling in general over time and therefore, the impact of COVID-19 on the Company’s business is ongoing. The cancellation of certain sporting events has reduced sports betting transactions and it is uncertain when the number of live sporting events will return to pre-pandemic levels. Any of these consequences may adversely impact player activity on the Company’s platforms, which would negatively impact the business. As part of the preparation of these condensed consolidated financial statements, the Company has considered the impact of COVID-19 on the accounting policies and judgments and estimates. Significant uncertainties exist concerning the magnitude of impact and duration of the COVID-19 pandemic. Management and the Board of Directors are monitoring the impacts of COVID-19 on the Company’s operations and have not identified any major operational challenges through the date of issuance of these condensed consolidated financial statements. The Company
Revenue Recognition	Revenue Recognition Platform and Content Fees The Company’s platform and content revenues are generated primarily from its Internet gambling Software-as-a-Service ("SaaS") platform, GameSTACK, that its customers use to provide real money and simulated Internet gaming, and online sports betting. The Company enters into service agreements with its customers, that generally range from three In certain service agreements with SIM customers, the Company receives the fees for in-game virtual credit purchases made by end-user players and remits payment to the SIM casino operator (customer) for their share of the SIM revenues generated from the Company’s platform. At March 31, 2021 and December 31, 2020, the Company has recorded a liability of $2,486 and $2,520, respectively, for its customers’ share of the fees within other current liabilities in the condensed consolidated balance sheets. The Company’s promise to provide the SaaS platform and content licensing services on the hosted software is a single performance obligation. This performance obligation is recognized over time, as the Company provides services to its customer in its delivery of services to the player end user. The Company’s customers simultaneously receive and consume the benefits provided by the Company as it delivers services to its customers. The transaction price is considered variable consideration and is generally due thirty days from the date of invoice. The Company’s RMiG and SIM enterprise software platform offerings include iGaming content licensing services. The GameSTACK platform is capable of supporting, and is available to the customer, for both proprietary and third-party licensed gaming content. The customer, in this case the casino operator, generally controls the determination of which gaming content will be offered in their online casinos. A customer can utilize the Company’s proprietary or licensed gaming content, or a customer can direct the Company to procure third-party gaming content on its behalf. The Company has determined it acts as the principal for providing the content licensing services when the Company controls the gaming content, and therefore presents the revenue on a gross basis in the consolidated statements of operations. When the customer directs the Company to procure third-party gaming content, the Company determined it is deemed an agent for providing the content licensing services, and therefore, records the revenue, net of licensing costs paid to the suppliers of that gaming content, in the consolidated statements of operations. Gaming The Company operates the B2C gaming site www.Coolbet.com outside of the United States, which is built on proprietary software and includes the following product offerings: sportsbook, poker, casino, live casino and virtual sports. The Company manages an online sportsbook allowing users to place various types of wagers on the outcome of sporting events conducted around the world. The Company operates as the bookmaker and offers multiple odds-scenarios-based wagering on events. When a user’s wager wins, the Company pays the user a pre-determined amount known as fixed odds. Revenue from sportsbook is reported net after deduction of player winnings and bonuses. Revenue from wagers is recognized when the outcome of the event is known. The Company offers live casino through its digital online casino offering in select markets, allowing users to place a wager and play games virtually at retail casinos. The Company offers users a catalog of over 1,600 third-party iGaming products such as digital slot machines and table games such as blackjack and roulette. Revenue from casino games is reported net after deduction of winnings, jackpot contribution and customer bonuses. Peer-to-peer poker offerings allow users to play poker against one another on the Company’s online poker platform for prize money. Revenue from poker is reported at rake, less tournament costs and customer bonuses. In each of the online gaming products, a single performance obligation exists at the time a wager is made to operate the games and award prizes or payouts to users based on a particular outcome. Revenue is recognized at the conclusion of each contest, wager, or wagering game hand. Additionally, certain incentives given to users, for example, that allow the user to make an additional wager at a reduced price, may provide the user with a material right which gives rise to a separate performance obligation. Such user incentives are recognized as revenue upon redemption or when the incentive expires. Development Services Gaming Development Services Revenue is generated from fees for development of games for use on its RMiG and SIM platforms. The development revenue is recognized at the point in time when control of the game is transferred, typically the earlier of the customer’s acceptance or upon receipt of the certification of the game. Platform Development Services Platform development services consist of fees charged for initial deployment of iGaming solutions, as well as ongoing development services to provide updates to the software for enhanced functionality or customization. Development services fees for the initial deployments of the iGaming solutions are typically charged at a fixed fee. Ongoing platform development services are typically billed monthly, at a daily rate, for services performed. Revenue from platform development services is recognized over time as the Company performs the services. For development services charged at a daily rate, revenue is measured using an input method based on effort expended, which uses direct labor hours incurred. As the performance obligations in these instances relate to the provision of development services over time, this method best reflects the transfer of control as the Company performs. In contracts that require a portion of the consideration to be received in advance, at the commencement of the contract, such advance payment is initially recorded as a contract liability. Computer Hardware Sales The Company resells third-party hardware, such as computing servers and other technical devices, upon which the GameSTACK software platform is installed for its customers. These products are not required to be purchased in order to access the GameSTACK platform but are sold as a convenience to the customer. Revenue is recognized at the point in time when control of the hardware transfers to the customer. Control is transferred after the hardware has been procured, delivered, installed at the client’s premises and configured to allow for remote access. The Company has determined that it is acting as the principal in these transactions as it takes responsibility for procuring, delivering, installing and configuring the hardware at the customer’s location and takes control of the hardware, prior to transfer. Revenue is presented at the gross amount of consideration to which it is entitled from the customer in exchange for the hardware. Patent Licensing Revenue The Company generates revenue from time to time from the licensing of its U.S. patent, which governs the linkage of on-property reward cards to their counterpart Internet gambling accounts together with bilateral transmission of reward points between the Internet gambling technology system and the land-based casino management system present in all U.S casino properties. The nature of the promise in transferring the license is to provide a right to use the patent as it exists. The Company does not have to undertake activities to change the functionality of the patent during the license period and the license has significant stand-alone functionality. Therefore, the Company recognizes the revenue from the license of the patent, at the point in time when control of the license is transferred to the customer. Control is determined to transfer at the point in time the customer is able to use and benefit from the license. Contracts with Multiple Performance Obligations For customer contracts that have more than one performance obligation, the transaction price is allocated to the performance obligations in an amount that depicts the relative stand-alone selling prices of each performance obligation. Judgment is required in determining the stand-alone selling price for each performance obligation. In determining the allocation of the transaction price, an entity is required to maximize the use of observable inputs. When the stand-alone selling price of a good or service is not directly observable, an entity is required to estimate the stand-alone selling price. When a customer contract, includes platform and content services, and development services, the variable consideration for platform and content services of the transaction price is allocated entirely to the performance obligation for platform and content services. For gaming, the Company allocates a portion of the user’s wager to incentives that create material rights that are redeemed or expired in the future. The allocated revenue for gaming wagers is primarily recognized when the wagers occur because all such wagers settle immediately. The Company applies a practical expedient by accounting for revenue from gaming on a portfolio basis because such wagers have similar characteristics, and the Company reasonably expects the effects on the financial statements of applying the revenue recognition guidance to the portfolio to not differ materially from that which would result if applying the guidance to an individual wagering contract. Cash The Company is required to maintain minimum cash balances to satisfy its liabilities to users. Such balances are included within cash on the condensed consolidated balance sheets and are not subject to creditor claims.
Goodwill	Goodwill Goodwill represents the excess of the fair value of the consideration transferred over the estimated fair values of the identifiable assets acquired and liabilities assumed on the acquisition date. As disclosed in Note 4, the Company has recorded goodwill in connection with the acquisition of Coolbet on January 1, 2021. Goodwill is not amortized, but rather is reviewed for impairment annually or more frequently if facts or circumstances indicate that the carrying value may not be recoverable. The Company has determined that there are two reporting units: B2C and B2B. In its goodwill impairment testing, the Company has the option to perform a qualitative assessment to determine whether it is more-likely-than-not that the fair value of the reporting unit, including goodwill, is less than its carrying amount prior to performing the quantitative impairment test. The qualitative assessment evaluates various events and circumstances, such as macro-economic conditions, industry and market conditions, cost factors, relevant events and financial trends that may impact a reporting unit’s fair value. If it is determined that the estimated fair value of the reporting unit is more-likely-than not less than its carrying amount, including goodwill, the quantitative goodwill impairment test is required. Otherwise, no further analysis would be required. If the quantitative impairment test for goodwill is deemed necessary, this quantitative impairment analysis compares the fair value of the Company’s reporting unit to its related carrying value. If the fair value of the reporting unit is less than its carrying amount, goodwill is written down to the fair value and an impairment loss is recognized. If the fair value of the reporting unit exceeds its carrying amount, no further analysis is required. Fair value of the reporting unit is determined using valuation techniques, primarily using discounted cash flow analysis. The Company will perform its annual impairment review of goodwill as of October 1 st
Long-lived Assets	Long-lived Assets Long-lived assets, except goodwill, consist of property and equipment, and finite lived acquired intangible assets, such as developed software, gaming licenses, trademarks, trade names and customer relationships. Intangible assets are amortized on a straight-line basis over their estimated useful lives. The Company considers the period of expected cash flows and underlying data used to measure the fair value of the intangible assets when selecting the estimated useful lives. The fair value of the acquired intangible assets is primarily determined using the income approach. In performing these valuations, the Company’s key underlying assumptions used in the discounted cash flows were projected revenue, gross margin expectations and operating cost estimates. There are inherent uncertainties and management judgment required in these valuations. Acquired in-process technology consists of a proprietary technical platform. The Company reviews the in-process technology for impairment at least annually or more frequently if an event occurs creating the potential for impairment, until such time as the in-process technology efforts are completed. When completed, the developed technology will be amortized over its estimated useful life based on and using amortization methods that reflect the pattern in which the economic benefits of the intangible assets are consumed or otherwise realized. The technology is expected to be completed in the latter part of 2021. Long-lived assets, except goodwill, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group to be tested for possible impairment, the Company compares the undiscounted cash flows expected to be generated by that asset or asset group to their carrying amount. If the carrying amount of the long-lived asset or asset group are not recoverable on an undiscounted cash flow basis, an impairment charge is recognized to the extent that the carrying amount exceeds fair value. Fair value is determined through various techniques, such as discounted cash flow models using probability weighted estimated future cash flows and the use of valuation specialists.
Capitalized Software Development Costs, net	Capitalized Software Development Costs, net The Company capitalizes certain development costs related to its software platforms during the application development stage. Costs associated with preliminary project activities, training, maintenance and all other post implementation stage activities are expensed as incurred. Software development costs are capitalized when application development begins, it is probable that the project will be completed, and the software will be used as intended. The Company capitalizes certain costs related to specific upgrades and enhancements when it is probable that expenditures will result in additional functionality of the platform to its customers. The capitalization policy provides for the capitalization of certain payroll and payroll related costs for employees who spent time directly associated with development and enhancements of the software platform. Capitalized software development costs are amortized on a straight-line basis over their estimated useful lives, which is generally three years and are included within depreciation and amortization in the condensed consolidated statements of operations.
Liabilities to Users	Liabilities to UsersThe Company records liabilities for user account balances. User account balances consist of user deposits, promotional awards and user winnings less user withdrawals and user losses.
Share-based Compensation	Share-based Compensation Share-based compensation expense is recognized for equity-settled stock options and restricted stock issued to employees and non-employee members of the Company’s Board of Directors based on the fair value of these awards on the date of grant. The fair value of the stock options is estimated using a Black-Scholes option pricing model and the fair value of the restricted stock awards (restricted stock and restricted stock units) is based on the market price of the Company’s stock on the date of grant. Share-based compensation is recorded over the requisite service period, generally defined as the vesting period. For awards with graded vesting and only service conditions, compensation cost is recorded on a straight-line basis over the requisite service period of the entire award. Forfeitures are recorded in the period in which they occur.
Income (Loss) Per Share, Basic and Diluted	Income (Loss) Per Share, Basic and Diluted Basic income (loss) per share is calculated by dividing net income (loss) by the weighted average number of ordinary shares outstanding during the year. In periods of income, diluted income per share is calculated by dividing net income by the weighted average number of ordinary shares outstanding during the year plus the assumed conversion of all potential dilutive ordinary shares. The Company determines the potentially dilutive ordinary shares using the treasury stock method. In periods of a net loss, basic and dilutive ordinary shares would be anti-dilutive.
Reclassifications of Prior Period Amounts	Reclassifications of Prior Period Amounts Certain prior period amounts have been reclassified to conform to the current period presentation. Specifically, the due to the Coolbet acquisition in 2021, the Company has reclassified certain balances that were previously presented in separate balance sheet captions to other current and noncurrent assets, other accrued expenses, and other current and noncurrent liabilities in the condensed consolidated balance sheet as of December 31, 2020. These reclassifications had no impact on previously disclosed current assets, current liabilities, total assets and total liabilities.

ACQUISITION OF VINCENT GROUP _2

ACQUISITION OF VINCENT GROUP P.L.C. (Tables)	3 Months Ended
	Mar. 31, 2021
Business Combination and Asset Acquisition [Abstract]
Summary of consideration transferred	Fair value of the consideration transferred: Cash paid to Vincent Group shareholders $ 111,118 Restricted ordinary shares issued to Vincent Group shareholders (1) 106,683 Replacement equity-based awards to holders of Vincent Group equity-based awards (2) 297 Total $ 218,098 (1) The share consideration represents 5,260,516 ordinary shares issued to the Vincent Group shareholders multiplied by the Company’s share price of $20.28 on the acquisition date. These unregistered shares were issued subject to a contractual lock-up period that further restricts the ability of these shares to be transferred or sold.
Summary of fair values of assets acquired and liabilities assumed	Recognized amounts of identifiable assets acquired and liabilities assumed at fair value: Cash $ 18,714 Prepaid expenses and other current assets 1,512 Property and equipment 343 Operating lease right-of-use assets 416 Intangible assets 48,370 Other noncurrent assets 73 Accounts payable (1,182) Liabilities to users (5,373) Other current liabilities (1,797) Operating lease liabilities (167) Deferred income taxes (2,265) Noncurrent operating lease liabilities (231) Total identifiable net assets 58,413 Goodwill 159,685 $ 218,098
Summary of intangible assets acquired	Identifiable intangible assets acquired as part of the acquisition, including their respective expected useful lives, were as follows: Estimated useful life Fair Value Trade names and trademarks 10.0 $ 5,800 Developed technology 3.0 28,100 In-process developed technology — 8,400 Customer relationships 3.0 5,600 Licenses various 470 $ 48,370
Pro forma operating results	The following unaudited pro forma information presents consolidated financial information as if the Coolbet acquisition had occurred on January 1, 2020. The unaudited pro forma results reflect certain adjustments related to the acquisition, such as amortization expense resulting from the intangible assets acquired, share-based compensation related to unvested replacement awards and an adjustment to reflect the Company’s income tax rate. Acquisition costs of $1,309 are also included as a nonrecurring charge. Such pro forma operating results were prepared for comparative purposes only and do not purport to be indicative of what would have occurred had the acquisition been made as of January 1, 2020 or of the results that may occur in the future. Three Months Ended Revenues $ 14,815 Net loss $ (2,811) Loss per share – basic and diluted $ (0.10)

CAPITALIZED SOFTWARE DEVELOPM_2

CAPITALIZED SOFTWARE DEVELOPMENT COSTS, NET (Tables)	3 Months Ended
	Mar. 31, 2021
Research and Development [Abstract]
Schedule of capitalized computer software costs, net	Capitalized software development costs, net at March 31, 2021 and December 31, 2020 consisted of the following: March 31, 2021 December 31, 2020 Capitalized software development costs $ 28,314 $ 26,507 Development in progress 3,318 2,641 Total capitalized software development costs 31,632 29,148 Less: accumulated amortization (23,498) (22,500) Total $ 8,134 $ 6,648

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of goodwill	The changes in the carrying amount of goodwill, by segment, for the three months ended March 31, 2021 were as follows: B2B B2C Total Balance at December 31, 2020 $ — $ — $ — Goodwill acquired in Coolbet acquisition 67,547 92,138 159,685 Effect of foreign currency translation (2,941) (4,010) (6,951) Balance at March 31, 2021 $ 64,606 $ 88,128 $ 152,734
Schedule of finite-lived intangible assets	Definite-lived intangible assets, net consisted of the following: March 31, 2021 Weighted Average Amortization Period Gross Carrying Amount Accumulated Amortization Net Carrying Amount Developed technology 3.0 years $ 26,877 $ (2,240) $ 24,637 In-process technology — 8,034 — 8,034 Customer relationships 3.0 years 5,356 (446) 4,910 Trade names and trademarks 10.0 years 5,898 (486) 5,412 Licenses 6.7 years 1,860 (998) 862 $ 48,025 $ (4,170) $ 43,855 December 31, 2020 Weighted Average Amortization Period Gross Carrying Amount Accumulated Amortization Net Carrying Amount Trade names and trademarks 3.0 years $ 343 $ (343) $ — Licenses 5.3 years 1,366 (898) 468 $ 1,709 $ (1,241) $ 468

ACCRUED EXPENSES (Tables)

ACCRUED EXPENSES (Tables)	3 Months Ended
	Mar. 31, 2021
Payables and Accruals [Abstract]
Schedule of accrued expenses	Accrued expenses consisted of the following: March 31, 2021 December 31, 2020 Content licensing fees $ 2,103 $ 1,984 Sales taxes 929 756 Income taxes 890 17 Other 492 606 Total $ 4,414 $ 3,363

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2021
Other Liabilities Disclosure [Abstract]
Schedule of other current liabilities	Other current liabilities consisted of the following: March 31, 2021 December 31, 2020 Revenue share due to SIM customers $ 2,486 $ 2,520 Contract liabilities 891 1,083 Operating lease liabilities 465 262 Other 102 202 Total $ 3,944 $ 4,067

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of share-based compensation, option activity	A summary of the stock option activity as of and for the three months ended March 31, 2021 is as follows: Number of Shares Weighted Average Exercise Price Weighted Average Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2020 3,061,859 $ 8.06 8.5 $ 37,410 Granted 1,216,140 24.35 Exercised (108,222) 2.40 Forfeited/expired or cancelled (3,080) 18.53 Outstanding at March 31, 2021 4,166,697 $ 12.96 9.2 $ 21,840 Options exercisable at March 31, 2021 1,820,667 $ 3.08 7.7 $ 27,524
Schedule of share-based compensation, fair value assumptions	The grant date fair value of each stock option grant was determined using the following weighted average assumptions: Three Months Ended 2021 2020 Expected stock price volatility 61.50 % 67.60 % Expected term (in years) 4.95 5.00 Risk-free interest rate 0.72 % 0.44 % Dividend yield 0 % 0 %

INCOME (LOSS) PER SHARE (Tables

INCOME (LOSS) PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Schedule of the computation of earnings per share basic and diluted	The following table sets forth the computation of basic and diluted income (loss) per share for the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Numerator: Net income (loss) $ (4,464) $ 694 Denominator: Weighted average ordinary shares outstanding, basic 41,986,083 21,512,225 Weighted average effect of potentially dilutive ordinary shares: Stock options — 1,528,120 Restricted stock awards — — Restricted stock units — — Weighted average ordinary shares outstanding, diluted 41,986,083 23,040,345 Income (loss) per share: Basic $ (0.11) $ 0.03 Diluted $ (0.11) $ 0.03
Schedule of anti-dilutive stock excluded from computation of diluted earnings per share	Certain stock options, nonvested restricted stock awards and restricted stock units were excluded from the computation of diluted weighted average ordinary shares outstanding, as inclusion would be anti-dilutive, are summarized as follows: Three Months Ended 2021 2020 Stock options 4,166,697 — Restricted stock awards 93,680 — Restricted stock units 15,537 — Total 4,275,914 —

REVENUES (Tables)

REVENUES (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of revenue recognized in line with the timing of transfer of services	The following table reflects revenues recognized for the three months ended March 31, 2021 and 2020 in line with the timing of transfer of services: Three Months Ended 2021 2020 Revenues recognized at a point in time $ 17,737 $ — Revenues from services delivered over time 10,105 7,670 Total $ 27,842 $ 7,670 Revenue by location of the customer for the three months ended March 31, 2021 and 2020 was as follows: Three Months Ended 2021 2020 United States $ 11,473 $ 6,251 Europe 11,064 1,410 Latin America 3,603 — Rest of the world 1,702 9 Total $ 27,842 $ 7,670
Schedule of activity in contract liabilities	The following table reflects the activity in deferred contract costs for the periods presented: Three Months Ended 2021 2020 Balance at the beginning of the period $ 353 $ 86 Capitalized expenditures for the period 52 0 Amortization (22) (2) Effect of foreign currency translation 2 (6) Balance at the end of the period $ 385 $ 78
Schedule of contract with customers	The contract and contract-related liabilities for the periods presented were as follows: Three Months Ended 2021 2020 Contract and contract-related liabilities, beginning of the period $ 1,083 $ 3,023 Contract and contract-related liabilities, end of the period 7,807 2,095 Revenue recognized from amounts included in contract and contract-related liabilities at the beginning of the period 227 777

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of financial information for reportable segments	Summarized financial information by reportable segments for the three months ended March 31, 2021 and 2020 is as follows: Three Months Ended March 31, 2021 Three Months Ended March 31, 2020 B2B B2C Total B2B B2C Total Revenues $ 13,530 $ 14,312 $ 27,842 $ 7,670 $ — $ 7,670 Cost of revenues (1) 2,742 5,977 8,719 1,692 — 1,692 Segment gross profit (1) $ 10,788 $ 8,335 $ 19,123 $ 5,978 $ — $ 5,978 (1) Excludes depreciation and amortization
Reconciliation of consolidated segment profit to consolidated income (loss) before income taxes	The following table presents a reconciliation of segment gross profit to consolidated income (loss) before income taxes for the three months ended March 31, 2021 and 2020: Three Months Ended 2021 2020 Segment gross profit (1) $ 19,123 $ 5,978 Sales and marketing 4,101 863 Product and technology 4,850 1,024 General and administrative (1) 10,011 2,391 Depreciation and amortization 3,963 853 Interest expense, net 1 8 Income (loss) before income taxes $ (3,803) $ 839
Schedule of disaggregation of revenue by products and services for each segment	The following table disaggregates total revenue by product and services for each segment: Three Months Ended 2021 2020 B2B: Platform and content fees $ 9,184 $ 5,933 Development services and other 4,346 1,737 Total B2B $ 13,530 $ 7,670 B2C: Sportsbook $ 7,151 $ — Casino 6,471 — Poker 690 — Total B2C $ 14,312 $ — Total revenues $ 27,842 $ 7,670
Schedule of disaggregation of revenue by location	The following table reflects revenues recognized for the three months ended March 31, 2021 and 2020 in line with the timing of transfer of services: Three Months Ended 2021 2020 Revenues recognized at a point in time $ 17,737 $ — Revenues from services delivered over time 10,105 7,670 Total $ 27,842 $ 7,670 Revenue by location of the customer for the three months ended March 31, 2021 and 2020 was as follows: Three Months Ended 2021 2020 United States $ 11,473 $ 6,251 Europe 11,064 1,410 Latin America 3,603 — Rest of the world 1,702 9 Total $ 27,842 $ 7,670

INCOME TAXES (Tables)

INCOME TAXES (Tables)	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of income tax provision	The provision for income taxes for the three months ended March 31, 2021 and 2020 consisted of the following: Three Months Ended 2021 2020 Domestic (Bermuda) $ — $ — Foreign (Non-Bermuda) 661 145 Total $ 661 $ 145

NATURE OF OPERATIONS (Details)

NATURE OF OPERATIONS (Details)	3 Months Ended
	Mar. 31, 2021segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments	2

BASIS OF PRESENTATION (Details)

BASIS OF PRESENTATION (Details) £ / shares in Units, £ in Thousands, $ in Thousands	May 05, 2020USD ($)shares	May 05, 2020GBP (£)£ / sharesshares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Shares issued per share of acquiree (in shares) | shares	4	4
Aggregate cash paid for partial shares	$ 2,525	£ 2,004
Cash paid for partial shares (in pence per share) | £ / shares		£ 2.32

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)productsegment	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Foreign currency transaction and remeasurement gains and losses, net	$ (9,481)	$ (1,320)
Contract liabilities	$ 891		$ 1,083
Number of third-party iGaming products available | product	1,600
Number of reporting units | segment	2
Revenue share due to SIM customers	$ 2,486		$ 2,520
Software development costs
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Weighted Average Amortization Period	3 years
Minimum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Term of service agreements	3 years
Maximum
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Term of service agreements	5 years

ACQUISITION OF VINCENT GROUP _3

ACQUISITION OF VINCENT GROUP P.L.C. - Schedule of Consideration Paid (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 01, 2021	Mar. 31, 2021
Business Acquisition [Line Items]
Shares issued as partial consideration for acquisition		5,260,516
Share price of ordinary shares issued	$ 20.28
Replacement equity-based awards (in shares)		67,830
Vincent Group P.L.C.
Business Acquisition [Line Items]
Cash paid to Vincent Group shareholders	$ 111,118
Value of replacement equity-based awards to holders of Vincent Group equity-based awards	297
Total	218,098
Vincent Group P.L.C. | Restricted stock awards
Business Acquisition [Line Items]
Value of restricted ordinary shares issued to Vincent Group shareholders	$ 106,683

ACQUISITION OF VENCENT GROUP P.

ACQUISITION OF VENCENT GROUP P.L.C. - Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Intangible assets		$ 48,370
Goodwill	$ 152,734		$ 0
Vincent Group P.L.C.
Business Acquisition [Line Items]
Cash		18,714
Prepaid expenses and other current assets		1,512
Property and equipment		343
Operating lease right-of-use assets		416
Intangible assets		48,370
Other noncurrent assets		73
Accounts payable		(1,182)
Liabilities to users		(5,373)
Other current liabilities		(1,797)
Operating lease liabilities		(167)
Deferred income taxes		(2,265)
Noncurrent operating lease liabilities		(231)
Total identifiable net assets		58,413
Goodwill		159,685
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net, Total		$ 218,098

ACQUISITION OF VINCENT GROUP _4

ACQUISITION OF VINCENT GROUP P.L.C. Schedule of Intangible Assets Acquired (Details) - USD ($) $ in Thousands	Jan. 01, 2021	Mar. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Fair Value	$ 48,370
Trade names and trademarks
Business Acquisition [Line Items]
Estimated useful life (in years)	10 years	10 years	3 years
Fair Value	$ 5,800
Developed technology
Business Acquisition [Line Items]
Estimated useful life (in years)	3 years
Fair Value	$ 28,100
In-process technology
Business Acquisition [Line Items]
Fair Value	$ 8,400
Customer relationships
Business Acquisition [Line Items]
Estimated useful life (in years)	3 years	3 years
Fair Value	$ 5,600
Licenses
Business Acquisition [Line Items]
Estimated useful life (in years)		6 years 8 months 12 days	5 years 3 months 18 days
Fair Value	$ 470

ACQUISITION OF VINCENT GROUP _5

ACQUISITION OF VINCENT GROUP P.L.C. - Narrative (Details) - USD ($) $ in Thousands	Jan. 01, 2021	Mar. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Goodwill		$ 152,734	$ 0
B2C
Business Acquisition [Line Items]
Goodwill		88,128	0
B2B
Business Acquisition [Line Items]
Goodwill		64,606	$ 0
Vincent Group P.L.C.
Business Acquisition [Line Items]
Deferred income taxes	$ (2,265)
Goodwill	159,685
Acquisition related costs	1,309	$ 290
Vincent Group P.L.C. | B2C
Business Acquisition [Line Items]
Goodwill	92,138
Vincent Group P.L.C. | B2B
Business Acquisition [Line Items]
Goodwill	$ 67,547

ACQUISITION OF VINCENT GROUP _6

ACQUISITION OF VINCENT GROUP P.L.C. - Pro Forma Information (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2020USD ($)$ / shares
Earnings Per Share, Pro Forma [Abstract]
Loss per share – basic and diluted | $ / shares	$ (0.10)
Loss per share – basic and diluted | $ / shares	$ (0.10)
Vincent Group P.L.C.
Business Acquisition [Line Items]
Revenues | $	$ 14,815
Net loss | $	$ (2,811)

CAPITALIZED SOFTWARE DEVELOPM_3

CAPITALIZED SOFTWARE DEVELOPMENT COSTS, NET (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Research and Development [Abstract]
Capitalized software development costs	$ 28,314		$ 26,507
Development in progress	3,318		2,641
Capitalized software development costs	31,632		29,148
Less: accumulated amortization	(23,498)		(22,500)
Total	8,134		$ 6,648
Amortization expense	$ 729	$ 756

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 0
Goodwill acquired in Coolbet acquisition	159,685
Effect of foreign currency translation	(6,951)
Goodwill, ending balance	152,734
B2B
Goodwill [Roll Forward]
Goodwill, beginning balance	0
Goodwill acquired in Coolbet acquisition	67,547
Effect of foreign currency translation	(2,941)
Goodwill, ending balance	64,606
B2C
Goodwill [Roll Forward]
Goodwill, beginning balance	0
Goodwill acquired in Coolbet acquisition	92,138
Effect of foreign currency translation	(4,010)
Goodwill, ending balance	$ 88,128

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Schedule of finite-lived intangible assets (Details) - USD ($) $ in Thousands	Jan. 01, 2021	Mar. 31, 2021	Dec. 31, 2020
Acquired Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount		$ 48,025	$ 1,709
Accumulated Amortization		(4,170)	(1,241)
Net Carrying Amount		$ 43,855	$ 468
Developed technology
Acquired Indefinite-lived Intangible Assets [Line Items]
Weighted Average Amortization Period		3 years
Gross Carrying Amount		$ 26,877
Accumulated Amortization		(2,240)
Net Carrying Amount		24,637
In-process technology
Acquired Indefinite-lived Intangible Assets [Line Items]
Gross Carrying Amount		8,034
Accumulated Amortization		0
Net Carrying Amount		$ 8,034
Customer relationships
Acquired Indefinite-lived Intangible Assets [Line Items]
Weighted Average Amortization Period	3 years	3 years
Gross Carrying Amount		$ 5,356
Accumulated Amortization		(446)
Net Carrying Amount		$ 4,910
Trade names and trademarks
Acquired Indefinite-lived Intangible Assets [Line Items]
Weighted Average Amortization Period	10 years	10 years	3 years
Gross Carrying Amount		$ 5,898	$ 343
Accumulated Amortization		(486)	(343)
Net Carrying Amount		$ 5,412	$ 0
Licenses
Acquired Indefinite-lived Intangible Assets [Line Items]
Weighted Average Amortization Period		6 years 8 months 12 days	5 years 3 months 18 days
Gross Carrying Amount		$ 1,860	$ 1,366
Accumulated Amortization		(998)	(898)
Net Carrying Amount		$ 862	$ 468

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense related to capitalized development costs	$ 2,995	$ 36
Estimated amortization expense, 2021	8,636
Estimated amortization expense, 2022	11,500
Estimated amortization expense, 2023	11,481
Estimated amortization expense, 2024	639
Estimated amortization expense, 2025	$ 625

ACCRUED EXPENSES (Details)

ACCRUED EXPENSES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Content licensing fees	$ 2,103	$ 1,984
Sales taxes	929	756
Income taxes	890	17
Other assets	492	606
Total	$ 4,414	$ 3,363

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Other Liabilities Disclosure [Abstract]
Revenue share due to SIM customers	$ 2,486	$ 2,520
Contract liabilities	891	1,083
Operating lease liabilities	465	262
Other	102	202
Other current liabilities	$ 3,944	$ 4,067

SHARE-BASED COMPENATION - Narra

SHARE-BASED COMPENATION - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Apr. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant			4,400,000
Number of shares available for grant	726,581
Percentage increase based on prior year's outstanding shares			4.00%
Replacement equity-based awards (in shares)	67,830
Unrecognized share-based compensation expense	$ 22,945
Period of recognition for unrecognized share based compensation expense	3 years 7 months 6 days
Weighted average grant date fair value of options granted	$ 12.86	$ 4.72
Decrease in liability for cash-settled share-based compensation	$ (93)
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expiration period of options	10 years
Options approved for issuance (in shares)	1,148,310
Share-based compensation expense recognized	$ 1,187	$ 295
Stock options | Minimum | Vincent Group P.L.C.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected period of recognition for replacement stock option awards	1 year
Stock options | Maximum | Vincent Group P.L.C.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected period of recognition for replacement stock option awards	3 years
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense recognized	$ 25
Restricted stock issued	15,537
Vesting period	1 year
Grant date fair value of restricted stock	$ 25.10
Unrecognized share-based compensation expense	$ 365
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense recognized	$ 420
Restricted stock issued	93,680
Vesting period	1 year
Grant date fair value of restricted stock	$ 18.19
Unrecognized share-based compensation expense	$ 350
Year one | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
First quarter | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Second quarter | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Third quarter | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Fourth quarter | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%

SHARE-BASED COMPENSATION - Sche

SHARE-BASED COMPENSATION - Schedule of option activity (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Number of Shares
Outstanding, beginning balance	3,061,859
Granted	1,216,140
Exercised	(108,222)
Forfeited/expired or cancelled	(3,080)
Outstanding, ending balance	4,166,697	3,061,859
Options, exercisable at end of period	1,820,667
Weighted Average Exercise Price
Outstanding, beginning balance	$ 8.06
Granted	24.35
Exercised	2.40
Forfeited/expired or cancelled	18.53
Outstanding, ending balance	12.96	$ 8.06
Options, exercisable at end of period	$ 3.08
Weighted average contractual term, outstanding	9 years 2 months 12 days	8 years 6 months
Weighted average contractual term, exercisable	7 years 8 months 12 days
Aggregate intrinsic value, outstanding	$ 21,840	$ 37,410
Aggregate intrinsic value, exercisable	$ 27,524

SHARE-BASED COMPENSATION - Sc_2

SHARE-BASED COMPENSATION - Schedule of fair value assumptions (Details)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Expected stock price volatility	61.50%	67.60%
Expected term (in years)	4 years 11 months 12 days	5 years
Risk-free interest rate	0.72%	0.44%
Dividend yield	0.00%	0.00%

INCOME (LOSS) PER SHARE (Detail

INCOME (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net income (loss)	$ (4,464)	$ 694
Denominator:
Weighted average ordinary shares outstanding, basic	41,986,083	21,512,225
Weighted average effect of potentially dilutive ordinary shares:
Weighted average ordinary shares outstanding, diluted	41,986,083	23,040,345
Income (loss) per share:
Basic (in dollars per share)	$ (0.11)	$ 0.03
Diluted (in dollars per share)	$ (0.11)	$ 0.03
Stock options
Weighted average effect of potentially dilutive ordinary shares:
Stock options	0	1,528,120
Restricted stock awards
Weighted average effect of potentially dilutive ordinary shares:
Stock options	0	0
Restricted stock units
Weighted average effect of potentially dilutive ordinary shares:
Stock options	0	0

INCOME (LOSS) PER SHARE - Antid

INCOME (LOSS) PER SHARE - Antidilutive Shares (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options and awards excluded from computation as inclusion would be anti-dilutive	4,275,914	0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options and awards excluded from computation as inclusion would be anti-dilutive	4,166,697	0
Restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options and awards excluded from computation as inclusion would be anti-dilutive	93,680	0
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options and awards excluded from computation as inclusion would be anti-dilutive	15,537	0

REVENUES - Revenue recognized b

REVENUES - Revenue recognized by timing of transfer of service (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from services	$ 27,842	$ 7,670
Revenues recognized at a point in time
Disaggregation of Revenue [Line Items]
Revenue from services	17,737	0
Revenues from services delivered over time
Disaggregation of Revenue [Line Items]
Revenue from services	$ 10,105	$ 7,670

REVENUES - Narrative (Details)

REVENUES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Revenue from services	$ 27,842	$ 7,670
Revenues recognized at a point in time
Disaggregation of Revenue [Line Items]
Revenue from services	17,737	0
Gaming Revenue | Revenues recognized at a point in time
Disaggregation of Revenue [Line Items]
Revenue from services	14,312
Development services and other | Revenues recognized at a point in time
Disaggregation of Revenue [Line Items]
Revenue from services	3,425
B2B
Disaggregation of Revenue [Line Items]
Revenue from services	13,530	7,670
B2B | Development services and other
Disaggregation of Revenue [Line Items]
Revenue from services	$ 4,346	$ 1,737
Revenue from Contract with Customer Benchmark | Customer Concentration Risk | B2B
Disaggregation of Revenue [Line Items]
Percentage of total revenue	27.40%	56.70%
Customer One | Revenue from Contract with Customer Benchmark | Customer Concentration Risk | B2B
Disaggregation of Revenue [Line Items]
Revenue from services	$ 3,995	$ 4,348
Customer Two | Revenue from Contract with Customer Benchmark | Customer Concentration Risk | B2B
Disaggregation of Revenue [Line Items]
Revenue from services	$ 3,633

REVENUES - Capitalized Contract

REVENUES - Capitalized Contract Costs (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019
Capitalized Contract Cost [Roll Forward]
Balance at the beginning of the period	$ 385	$ 78	$ 353	$ 86
Capitalized expenditures for the period	52	0
Amortization	(22)	(2)
Effect of foreign currency translation	2	(6)
Balance at the end of the period	$ 385	$ 78

REVENUES - Contract Liabilities

REVENUES - Contract Liabilities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Change In Contract With Customer [Roll Forward]
Contract and contract-related liabilities, beginning of the period	$ 1,083	$ 3,023
Contract and contract-related liabilities, end of the period	7,807	2,095
Revenue recognized from amounts included in contract and contract-related liabilities at the beginning of the period	$ 227	$ 777

SEGMENT REPORTING - Narrative (

SEGMENT REPORTING - Narrative (Details)	3 Months Ended
	Mar. 31, 2021segment
Segment Reporting [Abstract]
Number of segments	2

SEGMENT REPORTING - Financial i

SEGMENT REPORTING - Financial information by reportable segments (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenues		$ 27,842	$ 7,670
Cost of revenue	[1]	8,719	1,692
Operating income (loss)		19,123	5,978
B2B
Segment Reporting Information [Line Items]
Revenues		13,530	7,670
Cost of revenue		2,742	1,692
Operating income (loss)		10,788	5,978
B2C
Segment Reporting Information [Line Items]
Revenues		14,312	0
Cost of revenue		5,977	0
Operating income (loss)		$ 8,335	$ 0
[1]	Excludes depreciation and amortization

SEGMENT REPORTING - Reconciliat

SEGMENT REPORTING - Reconciliation of consolidated segment income to net income (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2021	Mar. 31, 2020
Segment Reporting [Abstract]
Segment gross profit		$ 19,123	$ 5,978
Sales and marketing		4,101	863
Product and technology		4,850	1,024
General and administrative	[1]	10,011	2,391
Depreciation and amortization		3,963	853
Interest expense, net		1	8
Income (loss) before income taxes		$ (3,803)	$ 839
[1]	Excludes depreciation and amortization

SEGMENT REPORTING - Schedule of

SEGMENT REPORTING - Schedule of disaggregation of revenue by product, service and by segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenue from services	$ 27,842	$ 7,670
B2B
Segment Reporting Information [Line Items]
Revenue from services	13,530	7,670
B2B | Platform and content fees
Segment Reporting Information [Line Items]
Revenue from services	9,184	5,933
B2B | Development services and other
Segment Reporting Information [Line Items]
Revenue from services	4,346	1,737
B2C
Segment Reporting Information [Line Items]
Revenue from services	14,312	0
B2C | Sportsbook
Segment Reporting Information [Line Items]
Revenue from services	7,151	0
B2C | Casino
Segment Reporting Information [Line Items]
Revenue from services	690	0
B2C | Poker
Segment Reporting Information [Line Items]
Revenue from services	$ 6,471	$ 0

SEGMENT REPORTING - Schedule _2

SEGMENT REPORTING - Schedule of Disaggregated Revenue by Location (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Revenues	$ 27,842	$ 7,670
United States
Segment Reporting Information [Line Items]
Revenues	11,473	6,251
Europe
Segment Reporting Information [Line Items]
Revenues	11,064	1,410
Latin America
Segment Reporting Information [Line Items]
Revenues	3,603	0
Rest of the world
Segment Reporting Information [Line Items]
Revenues	$ 1,702	$ 9

INCOME TAXES - Provision for Ta

INCOME TAXES - Provision for Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Contingency [Line Items]
Provision for income taxes	$ 661	$ 145
Domestic (Bermuda)
Income Tax Contingency [Line Items]
Provision for income taxes	0	0
Foreign (Non-Bermuda)
Income Tax Contingency [Line Items]
Provision for income taxes	$ 661	$ 145

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Jan. 01, 2021
Income Tax Contingency [Line Items]
Effective income tax rate	(17.40%)	17.30%
Vincent Group P.L.C.
Income Tax Contingency [Line Items]
Deferred income taxes			$ (2,265)
Foreign Tax Authority | MALTA
Income Tax Contingency [Line Items]
Effective income tax rate	5.00%
Foreign Tax Authority | Domestic (Bermuda)
Income Tax Contingency [Line Items]
Effective income tax rate	0.00%