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400 Spectrum Center Drive
Suite 1900
Irvine
CA
92618
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964-5777
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Ltd, (the “Company”) is filing this Amendment No. 1 on
Form 10-Q/A (this “Amendment No. 1”) to amend its Quarterly Report on Form 10-Q for the quarterly period September
30, 2021, filed with the Securities and Exchange Commission (the “SEC”) on November 12, 2021 (the “Original Form 10-Q”).
The purpose of this Amendment No. 1 is to restate our previously issued unaudited interim condensed consolidated financial statements
for the three and nine months ended September 30, 2021, contained in the Original Form 10-Q (the “Restatement”).
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1000
392000
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1548000
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3201000
312000
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-0.10
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42061396
29571905
41962535
25782776
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551000
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36635362
365000
203842000
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155564000
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1632000
1632000
108222
1000
314000
315000
5260516
53000
106630000
106683000
297000
297000
42004100
419000
312715000
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249403000
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2443000
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2319000
2319000
5178
1000
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22000
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420000
315055000
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250428000
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489000
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42182774
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317367000
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239160000
21486059
215000
40862000
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15145000
694000
694000
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295000
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64908
1000
86000
87000
21550967
216000
41243000
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14901000
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41000
41000
4225000
4225000
93680
7075000
7337000
73000
55216000
55289000
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678613
6000
2104000
2110000
29660260
295000
102788000
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64372000
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-2913000
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551000
551000
1079000
1079000
10750
27000
27000
29671010
295000
103894000
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-3636000
63116000
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11888000
2135000
798000
218000
5774000
5599000
432000
9000
483000
2154000
-272000
1503000
-226000
1527000
9123000
-1063000
-1255000
2223000
3370000
1958000
3906000
421000
2847000
-460000
-275000
1205000
-114000
1350000
-3835000
92454000
8483000
2811000
215000
110000
1478000
763000
-102630000
-3684000
57445000
604000
1678000
828000
2224000
2525000
83000
137000
141000
55329000
-1210000
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47321000
152654000
10279000
50305000
57600000
106683000
297000
252000
<p id="xdx_80D_eus-gaap--NatureOfOperations_z6fhVTYnnQwf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTE
1 — <span id="xdx_821_zpZ8Wv4yh961">NATURE OF OPERATIONS</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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”).</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 1, 2021, the Company acquired all of the outstanding shares of Vincent Group p.l.c. (“Vincent Group”), a Malta public
limited company doing business as “Coolbet” (Note 5). Coolbet is a developer and operator of an online sports betting
and casino platform that is accessible through its website in nine national markets across Northern Europe (Estonia, Finland, Iceland,
Norway and Sweden), Latin America (Chile, Ecuador, and Peru) and North America (Canada).</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company is a business-to-business (“B2B”) supplier of internet gambling Software-as-a-Service (“SaaS”) solutions
predominately to the U.S. land-based casino industry. For its B2B customers, 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 (“real money iGaming” or “RMiG”), internet sports
gaming, and virtual simulated gaming (“SIM”). The Company is also a business-to-consumer (“B2C”) developer and
operator of an online sports betting and casino platform, providing international users with access to its sportsbook, casino games and
poker products. The Company operates in <span id="xdx_901_eus-gaap--NumberOfOperatingSegments_pid_dc_uInteger_c20210101__20210930_zQ5dw7IiboKd" title="Number of operating segments">two</span> operating segments – B2B and B2C.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
2
<p id="xdx_808_eus-gaap--ErrorCorrectionTextBlock_zAOAmVXWkbp7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
2 — <span id="xdx_820_zy6DtQr1pVjb">RESTATEMENT OF PRIOR FINANCIAL INFORMATION</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the preparation of the Company’s consolidated financial statements as of December 31, 2021, the Company has identified
an error made in the Company’s historical condensed consolidated financial statements for the three and nine months ended September
30, 2021. The errors primarily relate to (i) improperly capitalized costs for non-developers that did not meet the criteria of development
activities in accordance with the applicable guidance and (ii) significant customization services provided during the set-up of RMiG
instances, previously recognized at a point in time, which are only provided by the company and are not distinct. The related consideration
should be allocated to the separately identifiable performance obligation consisting of access to the SaaS platform, recognized over
time as the Company provides services to its customer in its delivery of services to the player end user. The impact of correcting the
improperly capitalized costs is to reverse the capitalized costs and related amortization expense and recognize the expense within product
and technology expense. The impact of correcting the revenues improperly recognized at a point in time is to reverse the revenues and
recognize contract liabilities, as well as a pro-rata portion of the fixed fees as revenues for the period of the contract completed
to date.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i> </i></b></span></p>
<p id="xdx_891_eus-gaap--ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock_zn29VGNB88D8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes the effect of the Restatement on the condensed consolidated balance sheet as of September 30, 2021:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none"><span id="xdx_8BB_zobB7FQNaaFb">SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS</span></span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Reported</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Accounts receivable, net of allowance for doubtful accounts of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFJFU1RBVEVNRU5UIE9OIENPTlNPTElEQVRFRCBCQUxBTkNFIFNIRUVUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_901_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20210930_z1jaFRS1Eiv6">89
</span>at September 30, 2021</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zxWhqRTaUcia" style="width: 12%; text-align: right" title="Accounts receivable, net of allowance for doubtful accounts of $89 and $100 at September 30, 2021 and December 31, 2020, respectively">7,166</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zEPQK4NZYDna" style="width: 12%; text-align: right" title="Accounts receivable, net of allowance for doubtful accounts of $89 and $100 at September 30, 2021 and December 31, 2020, respectively">225</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AccountsReceivableNetCurrent_c20210930_pn3n3" style="width: 12%; text-align: right" title="Accounts receivable, net of allowance for doubtful accounts of $89 and $100 at September 30, 2021 and December 31, 2020, respectively">7,391</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Capitalized software development costs, net</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--CapitalizedComputerSoftwareNet_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zEXqaHMv1ywf" style="text-align: right" title="Capitalized software development costs, net">14,212</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--CapitalizedComputerSoftwareNet_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zig27DwPwfW5" style="text-align: right" title="Capitalized software development costs, net">(1,880</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CapitalizedComputerSoftwareNet_c20210930_pn3n3" style="text-align: right" title="Capitalized software development costs, net">12,332</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total assets</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Assets_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zr00921gzh6b" style="text-align: right" title="Total assets">278,026</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--Assets_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zVAiVMyxlip5" style="text-align: right" title="Total assets">(1,655</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--Assets_c20210930_pn3n3" style="text-align: right" title="Total assets">276,371</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Other current liabilities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zcWuh3Pq8Vx2" style="text-align: right" title="Other current liabilities">4,050</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z0HBCsqhRZ2b" style="text-align: right" title="Other current liabilities">154</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20210930_zIJZRzXLGf4e" style="text-align: right" title="Other current liabilities">4,204</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Other liabilities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherLiabilitiesNoncurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z7BV8G3u10Pd" style="text-align: right" title="Other liabilities">648</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--OtherLiabilitiesNoncurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z5V8x1SIQaGl" style="text-align: right" title="Other liabilities">1,068</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OtherLiabilitiesNoncurrent_iI_pn3n3_c20210930_zkLFF0ZBnWbg" style="text-align: right" title="Other liabilities">1,716</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Total liabilities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--Liabilities_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zGj9p6dT7Cm7" style="text-align: right" title="Total liabilities">35,989</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Liabilities_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zD3DR3OkYvZ3" style="text-align: right" title="Total liabilities">1,222</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--Liabilities_iI_pn3n3_c20210930_z38WyLoKG9ge" style="text-align: right" title="Total liabilities">37,211</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Accumulated deficit</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zEnfKBmfl5S8" style="text-align: right" title="Accumulated deficit">(60,880</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zZv4KTkL2f0g" style="text-align: right" title="Accumulated deficit">(2,933</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RetainedEarningsAccumulatedDeficit_c20210930_pn3n3" style="text-align: right" title="Accumulated deficit">(63,813</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Accumulated other comprehensive loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zAHp769DlgU3" style="text-align: right" title="Accumulated other comprehensive loss">(14,872</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z3dNzp8i3so9" style="text-align: right" title="Accumulated other comprehensive loss">56</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_c20210930_pn3n3" style="text-align: right" title="Accumulated other comprehensive loss">(14,816</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total stockholders’ equity</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--StockholdersEquity_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z4AntYoBFzl" style="text-align: right" title="Total stockholders' equity">242,037</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockholdersEquity_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zs4APogD97M1" style="text-align: right" title="Total stockholders' equity">(2,877</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockholdersEquity_c20210930_pn3n3" style="text-align: right" title="Total stockholders' equity">239,160</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LiabilitiesAndStockholdersEquity_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z3yf0faeZXu3" style="text-align: right" title="Total liabilities and stockholders' equity">278,026</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LiabilitiesAndStockholdersEquity_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zljLVtpoHWIb" style="text-align: right" title="Total liabilities and stockholders' equity">(1,655</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LiabilitiesAndStockholdersEquity_c20210930_pn3n3" style="text-align: right" title="Total liabilities and stockholders' equity">276,371</td><td style="text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes the effect of the Restatement on the condensed consolidated statement of operations for the three months ended
September 30, 2021:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Reported</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Revenue</td><td> </td>
<td style="text-align: left">$</td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zMRQbGV9Ansg" style="text-align: right" title="Revenue">32,261</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_ziXlm17Lcgwl" style="text-align: right" title="Revenue">7</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210701__20210930_z835ZR2fbzy7" style="text-align: right" title="Revenue">32,268</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 52%; text-align: left">Product and technology</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"/><td id="xdx_986_ecustom--ProductAndTechnologyExpense_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zDscoMUb8rO1" style="width: 12%; text-align: right">4,634</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"/><td id="xdx_980_ecustom--ProductAndTechnologyExpense_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zBMhJpF7KN5e" style="width: 12%; text-align: right">858</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"/><td id="xdx_987_ecustom--ProductAndTechnologyExpense_pn3n3_c20210701__20210930_z18qjuvfi8lj" style="width: 12%; text-align: right" title="Product and technology">5,492</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span id="xdx_F42_zYyMUsfjReXe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
and administrative <sup>(1)</sup></span></td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_fKDEp_zhTHHjYFVKWi" style="text-align: right">12,895</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_fKDEp_z3RtSWd7CzP" style="text-align: right">(7</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210701__20210930_fKDEp_zqo4u8DcZty3" style="text-align: right" title="General and administrative">12,888</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Depreciation and amortization</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DepreciationDepletionAndAmortization_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zwlm299gdYe5" style="text-align: right">4,646</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DepreciationDepletionAndAmortization_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zx6gZ7lTrg69" style="text-align: right">(86</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DepreciationDepletionAndAmortization_c20210701__20210930_pn3n3" style="text-align: right" title="Depreciation and amortization">4,560</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total operating costs and expenses</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--CostsAndExpenses_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zFUHUi24byca" style="text-align: right">38,633</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--CostsAndExpenses_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zxgmYuFPbKDl" style="text-align: right">765</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--CostsAndExpenses_c20210701__20210930_pn3n3" style="text-align: right" title="Total operating costs and expenses">39,398</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingIncomeLoss_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zNKqF2vzerIk" style="text-align: right">(6,372</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingIncomeLoss_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zbdpDl5PDqA" style="text-align: right">(758</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingIncomeLoss_c20210701__20210930_pn3n3" style="text-align: right" title="Operating loss">(7,130</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Loss before income taxes</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zFDrq5W1MyOi" style="text-align: right">(6,372</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zyoyaueV0Xjf" style="text-align: right">(758</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_c20210701__20210930_zWIn2hTeeRy2" style="text-align: right" title="Loss before income taxes">(7,130</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Net loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--NetIncomeLoss_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zb5efayBmuwf" style="text-align: right">(7,920</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--NetIncomeLoss_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zl4uqF39D3Jg" style="text-align: right">(758</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--NetIncomeLoss_c20210701__20210930_pn3n3" style="text-align: right" title="Net loss">(8,678</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt">Loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zQ79VtgM4vrc" style="border-bottom: Black 2.5pt double; text-align: right">(0.19</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z6Saz8hGTDRd" style="border-bottom: Black 2.5pt double; text-align: right">(0.02</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210701__20210930_z2UHJGdLD9fb" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss per share, basic and diluted">(0.21</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: right"><span id="xdx_F02_zUeG8r9nBQo1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span id="xdx_F1A_zqeGQYBcXtIi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excludes depreciation
and amortization</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes the effect of the Restatement on the condensed consolidated statement of operations for the nine months ended
September 30, 2021:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Reported</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%">Revenue</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zEPoWcFredpk" style="width: 12%; text-align: right">94,731</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z3ZkaBUI7j48" style="width: 12%; text-align: right">(995</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210101__20210930_zTuZ8tM16DTk" style="width: 12%; text-align: right" title="Revenue">93,736</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Product and technology</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_ecustom--ProductAndTechnologyExpense_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zUpg9j3UYS36" style="text-align: right">13,539</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_ecustom--ProductAndTechnologyExpense_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zltJWQXnYs4b" style="text-align: right">2,025</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_ecustom--ProductAndTechnologyExpense_c20210101__20210930_pn3n3" style="text-align: right" title="Product and technology">15,564</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span id="xdx_F47_zjFmWfX4J1j1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General and administrative
<sup>(1)</sup></span></td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_fKDEp_zY8U01DtuJt8" style="text-align: right">35,232</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_fKDEp_zcxhQpvPlXWe" style="text-align: right">(15</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210101__20210930_fKDEp_z5TsvyhXcIE" style="text-align: right" title="General and administrative">35,217</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Depreciation and amortization</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DepreciationDepletionAndAmortization_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zRobkhAEbau2" style="text-align: right">12,758</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DepreciationDepletionAndAmortization_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z2WudqJu7tm7" style="text-align: right">(72</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DepreciationDepletionAndAmortization_c20210101__20210930_pn3n3" style="text-align: right" title="Depreciation and amortization">12,686</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total operating costs and expenses</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--CostsAndExpenses_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zRv2CbhzErSj" style="text-align: right">106,643</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CostsAndExpenses_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zCGxQuNGOLYg" style="text-align: right">1,938</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--CostsAndExpenses_c20210101__20210930_pn3n3" style="text-align: right" title="Total operating costs and expenses">108,581</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_znNKaGGJaq0l" style="text-align: right">(11,912</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zBEL8m1FeCJj" style="text-align: right">(2,933</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingIncomeLoss_c20210101__20210930_pn3n3" style="text-align: right" title="Operating loss">(14,845</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Loss before income taxes</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeLossAttributableToParent_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zp2RQT2PMTI6" style="text-align: right">(11,913</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--IncomeLossAttributableToParent_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z3HdeiPqEBZe" style="text-align: right">(2,933</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeLossAttributableToParent_c20210101__20210930_pn3n3" style="text-align: right" title="Loss before income taxes">(14,846</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Net loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zMyuAE4saLSl" style="text-align: right">(15,114</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zpV1iDWHpKce" style="text-align: right">(2,933</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930_zrYDXSoBF1pc" style="text-align: right" title="Net loss">(18,047</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt">Loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_ztc3a6AAx9q9" style="border-bottom: Black 2.5pt double; text-align: right">(0.36</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zCLhxSBi24Aj" style="border-bottom: Black 2.5pt double; text-align: right">(0.07</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210101__20210930_z0tpWMunKMsa" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss per share, basic and diluted">(0.43</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: right"><span id="xdx_F09_zfNfqIV5QLVk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span id="xdx_F12_zSE2dmHAQpn1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excludes depreciation
and amortization</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes the effect of the Restatement on the condensed consolidated statement of cash flows for the nine months ended
September 30, 2021:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Reported</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Adjustment</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Restated</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Net loss</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zWfQgBKCb69b" style="width: 12%; text-align: right" title="Net loss">(15,114</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zg6m5CMWrvgd" style="width: 12%; text-align: right" title="Net loss">(2,933</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930_zX58uKy1Xmfc" style="width: 12%; text-align: right" title="Net loss">(18,047</td><td style="width: 1%; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Amortization of software and intangible assets</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_ecustom--AmortizationOfSoftwareAndIntangibleAssets_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zHmhZgnaGoZ2" style="text-align: right" title="Amortization of software and intangible assets">11,960</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_ecustom--AmortizationOfSoftwareAndIntangibleAssets_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zujB12HciOl2" style="text-align: right" title="Amortization of software and intangible assets">(72</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_ecustom--AmortizationOfSoftwareAndIntangibleAssets_pn3n3_c20210101__20210930_z65FJ3HGKZSi" style="text-align: right" title="Amortization of software and intangible assets">11,888</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Accounts receivable</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--IncreaseDecreaseInAccountsReceivable_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zU9bjNd23txg" style="text-align: right" title="Accounts receivable">(258</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--IncreaseDecreaseInAccountsReceivable_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zMqvg0VOIh8" style="text-align: right" title="Accounts receivable">(225</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--IncreaseDecreaseInAccountsReceivable_iN_pn3n3_di_c20210101__20210930_zf1efYDGGWi8" style="text-align: right" title="Accounts receivable">(483</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Other liabilities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--IncreaseDecreaseInOtherNoncurrentLiabilities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zDIklsHnifce" style="text-align: right" title="Other liabilities">139</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_eus-gaap--IncreaseDecreaseInOtherNoncurrentLiabilities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z0Lai3QnrOBc" style="text-align: right" title="Other liabilities">1,066</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--IncreaseDecreaseInOtherNoncurrentLiabilities_pn3n3_c20210101__20210930_zEC8UyRnkEQ4" style="text-align: right" title="Other liabilities">1,205</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Net cash used in operating activities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z2joP3sgLU49" style="text-align: right" title="Net cash used in operating activities">3,360</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zcJcBDjtQImk" style="text-align: right" title="Net cash used in operating activities">(2,010</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_c20210101__20210930_ziONRnoW6RZk" style="text-align: right" title="Net cash used in operating activities">1,350</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Expenditures for capitalized software development costs</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PaymentsToDevelopSoftware_iN_pn3n3_di_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zf33Rau5XqPa" style="text-align: right" title="Expenditures for capitalized software development costs">(10,493</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PaymentsToDevelopSoftware_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zJehhwjhMwKf" style="text-align: right" title="Expenditures for capitalized software development costs">2,010</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PaymentsToDevelopSoftware_iN_pn3n3_di_c20210101__20210930_zMsUegcY5AT7" style="text-align: right" title="Expenditures for capitalized software development costs">(8,483</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Net cash used in investing activities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zrRDLS6VyH9i" style="text-align: right" title="Net cash used in investing activities">(104,640</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zHjtVEzF7uFg" style="text-align: right" title="Net cash used in investing activities">2,010</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_c20210101__20210930_zaDEEjf1VMZj" style="text-align: right" title="Net cash used in investing activities">(102,630</td><td style="text-align: left">)</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p>
<p id="xdx_8AE_zGrzKLaACfKj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
<p id="xdx_891_eus-gaap--ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock_zn29VGNB88D8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes the effect of the Restatement on the condensed consolidated balance sheet as of September 30, 2021:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="display: none"><span id="xdx_8BB_zobB7FQNaaFb">SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS</span></span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Reported</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Accounts receivable, net of allowance for doubtful accounts of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFJFU1RBVEVNRU5UIE9OIENPTlNPTElEQVRFRCBCQUxBTkNFIFNIRUVUIChEZXRhaWxzKSAoUGFyZW50aGV0aWNhbCkA" id="xdx_901_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iI_c20210930_z1jaFRS1Eiv6">89
</span>at September 30, 2021</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zxWhqRTaUcia" style="width: 12%; text-align: right" title="Accounts receivable, net of allowance for doubtful accounts of $89 and $100 at September 30, 2021 and December 31, 2020, respectively">7,166</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zEPQK4NZYDna" style="width: 12%; text-align: right" title="Accounts receivable, net of allowance for doubtful accounts of $89 and $100 at September 30, 2021 and December 31, 2020, respectively">225</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--AccountsReceivableNetCurrent_c20210930_pn3n3" style="width: 12%; text-align: right" title="Accounts receivable, net of allowance for doubtful accounts of $89 and $100 at September 30, 2021 and December 31, 2020, respectively">7,391</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Capitalized software development costs, net</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--CapitalizedComputerSoftwareNet_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zEXqaHMv1ywf" style="text-align: right" title="Capitalized software development costs, net">14,212</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--CapitalizedComputerSoftwareNet_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zig27DwPwfW5" style="text-align: right" title="Capitalized software development costs, net">(1,880</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CapitalizedComputerSoftwareNet_c20210930_pn3n3" style="text-align: right" title="Capitalized software development costs, net">12,332</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total assets</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Assets_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zr00921gzh6b" style="text-align: right" title="Total assets">278,026</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--Assets_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zVAiVMyxlip5" style="text-align: right" title="Total assets">(1,655</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--Assets_c20210930_pn3n3" style="text-align: right" title="Total assets">276,371</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Other current liabilities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zcWuh3Pq8Vx2" style="text-align: right" title="Other current liabilities">4,050</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z0HBCsqhRZ2b" style="text-align: right" title="Other current liabilities">154</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherLiabilitiesCurrent_iI_pn3n3_c20210930_zIJZRzXLGf4e" style="text-align: right" title="Other current liabilities">4,204</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Other liabilities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherLiabilitiesNoncurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z7BV8G3u10Pd" style="text-align: right" title="Other liabilities">648</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--OtherLiabilitiesNoncurrent_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z5V8x1SIQaGl" style="text-align: right" title="Other liabilities">1,068</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--OtherLiabilitiesNoncurrent_iI_pn3n3_c20210930_zkLFF0ZBnWbg" style="text-align: right" title="Other liabilities">1,716</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Total liabilities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--Liabilities_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zGj9p6dT7Cm7" style="text-align: right" title="Total liabilities">35,989</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Liabilities_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zD3DR3OkYvZ3" style="text-align: right" title="Total liabilities">1,222</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--Liabilities_iI_pn3n3_c20210930_z38WyLoKG9ge" style="text-align: right" title="Total liabilities">37,211</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Accumulated deficit</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zEnfKBmfl5S8" style="text-align: right" title="Accumulated deficit">(60,880</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zZv4KTkL2f0g" style="text-align: right" title="Accumulated deficit">(2,933</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--RetainedEarningsAccumulatedDeficit_c20210930_pn3n3" style="text-align: right" title="Accumulated deficit">(63,813</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Accumulated other comprehensive loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zAHp769DlgU3" style="text-align: right" title="Accumulated other comprehensive loss">(14,872</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z3dNzp8i3so9" style="text-align: right" title="Accumulated other comprehensive loss">56</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--AccumulatedOtherComprehensiveIncomeLossNetOfTax_c20210930_pn3n3" style="text-align: right" title="Accumulated other comprehensive loss">(14,816</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total stockholders’ equity</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--StockholdersEquity_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z4AntYoBFzl" style="text-align: right" title="Total stockholders' equity">242,037</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--StockholdersEquity_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zs4APogD97M1" style="text-align: right" title="Total stockholders' equity">(2,877</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--StockholdersEquity_c20210930_pn3n3" style="text-align: right" title="Total stockholders' equity">239,160</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Total liabilities and stockholders’ equity</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LiabilitiesAndStockholdersEquity_iI_pn3n3_c20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z3yf0faeZXu3" style="text-align: right" title="Total liabilities and stockholders' equity">278,026</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--LiabilitiesAndStockholdersEquity_iI_pn3n3_c20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zljLVtpoHWIb" style="text-align: right" title="Total liabilities and stockholders' equity">(1,655</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LiabilitiesAndStockholdersEquity_c20210930_pn3n3" style="text-align: right" title="Total liabilities and stockholders' equity">276,371</td><td style="text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes the effect of the Restatement on the condensed consolidated statement of operations for the three months ended
September 30, 2021:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Reported</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Revenue</td><td> </td>
<td style="text-align: left">$</td><td id="xdx_989_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zMRQbGV9Ansg" style="text-align: right" title="Revenue">32,261</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_ziXlm17Lcgwl" style="text-align: right" title="Revenue">7</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210701__20210930_z835ZR2fbzy7" style="text-align: right" title="Revenue">32,268</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 52%; text-align: left">Product and technology</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"/><td id="xdx_986_ecustom--ProductAndTechnologyExpense_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zDscoMUb8rO1" style="width: 12%; text-align: right">4,634</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"/><td id="xdx_980_ecustom--ProductAndTechnologyExpense_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zBMhJpF7KN5e" style="width: 12%; text-align: right">858</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"/><td id="xdx_987_ecustom--ProductAndTechnologyExpense_pn3n3_c20210701__20210930_z18qjuvfi8lj" style="width: 12%; text-align: right" title="Product and technology">5,492</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span id="xdx_F42_zYyMUsfjReXe" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General
and administrative <sup>(1)</sup></span></td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_fKDEp_zhTHHjYFVKWi" style="text-align: right">12,895</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_fKDEp_z3RtSWd7CzP" style="text-align: right">(7</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210701__20210930_fKDEp_zqo4u8DcZty3" style="text-align: right" title="General and administrative">12,888</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Depreciation and amortization</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--DepreciationDepletionAndAmortization_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zwlm299gdYe5" style="text-align: right">4,646</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--DepreciationDepletionAndAmortization_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zx6gZ7lTrg69" style="text-align: right">(86</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--DepreciationDepletionAndAmortization_c20210701__20210930_pn3n3" style="text-align: right" title="Depreciation and amortization">4,560</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total operating costs and expenses</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--CostsAndExpenses_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zFUHUi24byca" style="text-align: right">38,633</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--CostsAndExpenses_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zxgmYuFPbKDl" style="text-align: right">765</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--CostsAndExpenses_c20210701__20210930_pn3n3" style="text-align: right" title="Total operating costs and expenses">39,398</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingIncomeLoss_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zNKqF2vzerIk" style="text-align: right">(6,372</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--OperatingIncomeLoss_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zbdpDl5PDqA" style="text-align: right">(758</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingIncomeLoss_c20210701__20210930_pn3n3" style="text-align: right" title="Operating loss">(7,130</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Loss before income taxes</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zFDrq5W1MyOi" style="text-align: right">(6,372</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_981_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zyoyaueV0Xjf" style="text-align: right">(758</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_c20210701__20210930_zWIn2hTeeRy2" style="text-align: right" title="Loss before income taxes">(7,130</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Net loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--NetIncomeLoss_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zb5efayBmuwf" style="text-align: right">(7,920</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--NetIncomeLoss_pn3n3_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zl4uqF39D3Jg" style="text-align: right">(758</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--NetIncomeLoss_c20210701__20210930_pn3n3" style="text-align: right" title="Net loss">(8,678</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt">Loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210701__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zQ79VtgM4vrc" style="border-bottom: Black 2.5pt double; text-align: right">(0.19</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210701__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z6Saz8hGTDRd" style="border-bottom: Black 2.5pt double; text-align: right">(0.02</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210701__20210930_z2UHJGdLD9fb" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss per share, basic and diluted">(0.21</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: right"><span id="xdx_F02_zUeG8r9nBQo1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span id="xdx_F1A_zqeGQYBcXtIi" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excludes depreciation
and amortization</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes the effect of the Restatement on the condensed consolidated statement of operations for the nine months ended
September 30, 2021:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Reported</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%">Revenue</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zEPoWcFredpk" style="width: 12%; text-align: right">94,731</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z3ZkaBUI7j48" style="width: 12%; text-align: right">(995</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210101__20210930_zTuZ8tM16DTk" style="width: 12%; text-align: right" title="Revenue">93,736</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Product and technology</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_ecustom--ProductAndTechnologyExpense_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zUpg9j3UYS36" style="text-align: right">13,539</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_ecustom--ProductAndTechnologyExpense_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zltJWQXnYs4b" style="text-align: right">2,025</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_ecustom--ProductAndTechnologyExpense_c20210101__20210930_pn3n3" style="text-align: right" title="Product and technology">15,564</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span id="xdx_F47_zjFmWfX4J1j1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">General and administrative
<sup>(1)</sup></span></td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_fKDEp_zY8U01DtuJt8" style="text-align: right">35,232</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_fKDEp_zcxhQpvPlXWe" style="text-align: right">(15</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--GeneralAndAdministrativeExpense_pn3n3_c20210101__20210930_fKDEp_z5TsvyhXcIE" style="text-align: right" title="General and administrative">35,217</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Depreciation and amortization</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--DepreciationDepletionAndAmortization_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zRobkhAEbau2" style="text-align: right">12,758</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--DepreciationDepletionAndAmortization_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z2WudqJu7tm7" style="text-align: right">(72</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--DepreciationDepletionAndAmortization_c20210101__20210930_pn3n3" style="text-align: right" title="Depreciation and amortization">12,686</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total operating costs and expenses</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--CostsAndExpenses_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zRv2CbhzErSj" style="text-align: right">106,643</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CostsAndExpenses_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zCGxQuNGOLYg" style="text-align: right">1,938</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--CostsAndExpenses_c20210101__20210930_pn3n3" style="text-align: right" title="Total operating costs and expenses">108,581</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--OperatingIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_znNKaGGJaq0l" style="text-align: right">(11,912</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zBEL8m1FeCJj" style="text-align: right">(2,933</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingIncomeLoss_c20210101__20210930_pn3n3" style="text-align: right" title="Operating loss">(14,845</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Loss before income taxes</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--IncomeLossAttributableToParent_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zp2RQT2PMTI6" style="text-align: right">(11,913</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--IncomeLossAttributableToParent_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z3HdeiPqEBZe" style="text-align: right">(2,933</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--IncomeLossAttributableToParent_c20210101__20210930_pn3n3" style="text-align: right" title="Loss before income taxes">(14,846</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Net loss</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zMyuAE4saLSl" style="text-align: right">(15,114</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zpV1iDWHpKce" style="text-align: right">(2,933</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930_zrYDXSoBF1pc" style="text-align: right" title="Net loss">(18,047</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt">Loss per share, basic and diluted</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_ztc3a6AAx9q9" style="border-bottom: Black 2.5pt double; text-align: right">(0.36</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_981_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zCLhxSBi24Aj" style="border-bottom: Black 2.5pt double; text-align: right">(0.07</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--EarningsPerShareBasicAndDiluted_pid_c20210101__20210930_z0tpWMunKMsa" style="border-bottom: Black 2.5pt double; text-align: right" title="Loss per share, basic and diluted">(0.43</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td style="width: 15pt; text-align: right"><span id="xdx_F09_zfNfqIV5QLVk" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span id="xdx_F12_zSE2dmHAQpn1" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excludes depreciation
and amortization</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table summarizes the effect of the Restatement on the condensed consolidated statement of cash flows for the nine months ended
September 30, 2021:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1pt; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Reported</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Adjustment</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">As Restated</td><td style="padding-bottom: 1pt; text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Net loss</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zWfQgBKCb69b" style="width: 12%; text-align: right" title="Net loss">(15,114</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zg6m5CMWrvgd" style="width: 12%; text-align: right" title="Net loss">(2,933</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--NetIncomeLoss_pn3n3_c20210101__20210930_zX58uKy1Xmfc" style="width: 12%; text-align: right" title="Net loss">(18,047</td><td style="width: 1%; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Amortization of software and intangible assets</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_ecustom--AmortizationOfSoftwareAndIntangibleAssets_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zHmhZgnaGoZ2" style="text-align: right" title="Amortization of software and intangible assets">11,960</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_ecustom--AmortizationOfSoftwareAndIntangibleAssets_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zujB12HciOl2" style="text-align: right" title="Amortization of software and intangible assets">(72</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_ecustom--AmortizationOfSoftwareAndIntangibleAssets_pn3n3_c20210101__20210930_z65FJ3HGKZSi" style="text-align: right" title="Amortization of software and intangible assets">11,888</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Accounts receivable</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_982_eus-gaap--IncreaseDecreaseInAccountsReceivable_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zU9bjNd23txg" style="text-align: right" title="Accounts receivable">(258</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--IncreaseDecreaseInAccountsReceivable_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zMqvg0VOIh8" style="text-align: right" title="Accounts receivable">(225</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--IncreaseDecreaseInAccountsReceivable_iN_pn3n3_di_c20210101__20210930_zf1efYDGGWi8" style="text-align: right" title="Accounts receivable">(483</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Other liabilities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--IncreaseDecreaseInOtherNoncurrentLiabilities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zDIklsHnifce" style="text-align: right" title="Other liabilities">139</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_eus-gaap--IncreaseDecreaseInOtherNoncurrentLiabilities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_z0Lai3QnrOBc" style="text-align: right" title="Other liabilities">1,066</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--IncreaseDecreaseInOtherNoncurrentLiabilities_pn3n3_c20210101__20210930_zEC8UyRnkEQ4" style="text-align: right" title="Other liabilities">1,205</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Net cash used in operating activities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_z2joP3sgLU49" style="text-align: right" title="Net cash used in operating activities">3,360</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zcJcBDjtQImk" style="text-align: right" title="Net cash used in operating activities">(2,010</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_c20210101__20210930_ziONRnoW6RZk" style="text-align: right" title="Net cash used in operating activities">1,350</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Expenditures for capitalized software development costs</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PaymentsToDevelopSoftware_iN_pn3n3_di_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zf33Rau5XqPa" style="text-align: right" title="Expenditures for capitalized software development costs">(10,493</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PaymentsToDevelopSoftware_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zJehhwjhMwKf" style="text-align: right" title="Expenditures for capitalized software development costs">2,010</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PaymentsToDevelopSoftware_iN_pn3n3_di_c20210101__20210930_zMsUegcY5AT7" style="text-align: right" title="Expenditures for capitalized software development costs">(8,483</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Net cash used in investing activities</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zrRDLS6VyH9i" style="text-align: right" title="Net cash used in investing activities">(104,640</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_c20210101__20210930__srt--RestatementAxis__srt--RestatementAdjustmentMember_zHjtVEzF7uFg" style="text-align: right" title="Net cash used in investing activities">2,010</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--NetCashProvidedByUsedInInvestingActivities_pn3n3_c20210101__20210930_zaDEEjf1VMZj" style="text-align: right" title="Net cash used in investing activities">(102,630</td><td style="text-align: left">)</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p>
89000
7166000
225000
7391000
14212000
-1880000
12332000
278026000
-1655000
276371000
4050000
154000
4204000
648000
1068000
1716000
35989000
1222000
37211000
-60880000
-2933000
-63813000
-14872000
56000
-14816000
242037000
-2877000
239160000
278026000
-1655000
276371000
32261000
7000
32268000
4634000
858000
5492000
12895000
-7000
12888000
4646000
-86000
4560000
38633000
765000
39398000
-6372000
-758000
-7130000
-6372000
-758000
-7130000
-7920000
-758000
-8678000
-0.19
-0.02
-0.21
94731000
-995000
93736000
13539000
2025000
15564000
35232000
-15000
35217000
12758000
-72000
12686000
106643000
1938000
108581000
-11912000
-2933000
-14845000
-11913000
-2933000
-14846000
-15114000
-2933000
-18047000
-0.36
-0.07
-0.43
-15114000
-2933000
-18047000
11960000
-72000
11888000
-258000
-225000
483000
139000
1066000
1205000
3360000
-2010000
1350000
10493000
2010000
8483000
-104640000
2010000
-102630000
<p id="xdx_80A_eus-gaap--BusinessDescriptionAndBasisOfPresentationTextBlock_z68qxhjsoxni" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
3</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_823_z219YxmcRJnk">BASIS
OF PRESENTATION</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Basis
of Presentation</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><i> </i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
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 and nine months ended September 30, 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 (“2020 Form 10-K”).</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Share
Exchange and Reorganization</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 <span id="xdx_90D_ecustom--BusinessCombinationConsiderationTransferredEquityInterestIssuedOrIssuableSharesIssuedPerShareOfAcquiree_iI_pid_dc_c20200505_z3U5TSKN18ok" title="Shares issued per share of acquire (in shares)">four</span> ordinary shares to one ordinary share, for shares of GAN Limited,
plus a pro rata portion of an aggregate of $<span id="xdx_90E_ecustom--BusinessCombinationConsiderationTransferredAggregateCashPaidForPartialShares_iI_pn3n3_uUSD_c20200505_z8waxFaI7uz" title="Aggregate cash paid for partial shares">2,525</span> (£<span id="xdx_90C_ecustom--BusinessCombinationConsiderationTransferredAggregateCashPaidForPartialShares_iI_pn3n3_uPound_c20200505_z9cw6hypMKr7" title="Aggregate cash paid for partial shares">2,004</span> or <span id="xdx_90A_ecustom--BusinessCombinationConsiderationTransferredCashPaidForPartialSharesPerShare_iI_pid_uPoundPShares_c20200505_zuLV1mb4Nwn3" title="Cash paid for partial shares (in pence per share)">2.32</span> 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
4
2525000
2004000
2.32
<p id="xdx_808_eus-gaap--SignificantAccountingPoliciesTextBlock_zs9DZ9t8TBEd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
4</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_827_zrvElw99qpne">SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company’s significant accounting policies are included in “Note 3 – Summary of Significant Accounting Policies”
of its 2020 Form 10-K. In addition to repeating some of these significant accounting policies, the Company has added certain new significant
accounting policies during the nine months ended September 30, 2021, as described below.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_843_eus-gaap--UseOfEstimates_ze32g9FCbQUc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #212529"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_862_z1mGon4fczc">Use
of Estimates</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in; color: #212529"><span style="font: 10pt Times New Roman, Times, Serif">The
preparation of the condensed consolidated financial statements in conformity with 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_842_eus-gaap--ConsolidationPolicyTextBlock_zeMkAiQGLNIg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86F_z98WTrKFvzo4">Principles
of Consolidation</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif; color: #212529">The
condensed consolidated financial statements include the results of the Parent and its wholly-owned subsidiaries. All intercompany accounts
and </span><span style="font: 10pt Times New Roman, Times, Serif">transactions have been eliminated in consolidation.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p id="xdx_848_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zxju90H1BPnj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_868_zCnI4oKwygM8">Foreign
Currency Translation and Transactions</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 gain (loss) of $<span id="xdx_90C_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_pn3n3_c20210701__20210930_zOaN6QxuEEC6" title="Foreign currency transaction and remeasurement gains and losses, net">(589)</span> and $<span id="xdx_90F_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_pn3n3_c20200701__20200930_zd06VEX04ive" title="Foreign currency transaction and remeasurement gains and losses, net">(379)</span> for the three months ended September 30, 2021 and 2020, respectively, and $<span id="xdx_906_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_pn3n3_c20210101__20210930_z8jRAeBoLZRi" title="Foreign currency transaction and remeasurement gains and losses, net">(761)</span> and
$<span id="xdx_906_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_pn3n3_c20200101__20200930_zq9FUSxKraZb" title="Foreign currency transaction and remeasurement gains and losses, net">613</span> for the nine months ended September 30, 2021 and 2020, respectively.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_848_ecustom--UnusualOrInfrequentItemOrBothCOVID19PolicyTextBlock_zXRrWZzUWrwb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86E_zspLDQzqQQAe">Risks
and Uncertainties – COVID-19</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
coronavirus disease 2019 (“COVID-19”) pandemic, which was declared a national emergency in the United States in March 2020,
has significantly impacted the economic conditions and financial markets around the world. The closure of land-based casinos, social
distancing, shelter-in-place, and similar restrictions implemented in response to the COVID-19 pandemic led to increases in the Company’s
existing and new player activity in its online iGaming offerings as compared to historic trends, primarily at the start of the second
quarter of 2020. Player activity in connection with the iGaming business has generally returned to pre-pandemic levels, or in certain
cases, has increased, following the re-opening of land-based casinos and easing of local restrictions.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">While
the Company’s iGaming business has proven resilient during the pandemic, uncertainties continue to exist as it relates to the magnitude
of impact and duration of the COVID-19 pandemic. The ultimate impact of the pandemic on the Company’s future operating results
is unknown and will depend, in part, on the length of time COVID-19 disruptions exist and the subsequent behavior of players after restrictions
are fully lifted. A recurrence of COVID-19 cases or an emergence of additional variants could adversely impact the Company’s future
financial results, though results from the Company’s iGaming business may partially offset any potential reduction to the
Company’s sports betting transactions resulting from the suspension or cancellation of sporting events. The Company has
considered the impact of COVID-19 on its accounting policies, judgments and estimates as part of the preparation of these condensed consolidated
financial statements.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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. COVID-19 may impact the Company’s ability to access capital to the extent it affects
the U.S. capital markets. The Company has assessed the extent to which COVID-19 has impacted events after the reporting date and
has not identified additional items to disclose as a result.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_843_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_z14pQsdPHJM4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Revenue
Recognition</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Platform
and Content Fees</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company’s platform and content fee revenues are generated primarily from its internet gambling SaaS platform, GameSTACK, that its
customers use to provide access to real money and simulated internet gaming, and online sports betting. The Company enters into hosted
service agreements with its customers, that generally range from <span id="xdx_902_ecustom--ContractWithCustomerDuration_dtYxL_c20210101__20210930__srt--RangeAxis__srt--MinimumMember_zgDjSlyPQse2" title="::XDX::P3Y"><span style="-sec-ix-hidden: xdx2ixbrl0909">three
</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to <span id="xdx_901_ecustom--ContractWithCustomerDuration_dt_c20210101__20210930__srt--RangeAxis__srt--MaximumMember_zbeTFjU7CK0a">five
years</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, and includes renewal provisions, under
which it charges fees based on a percentage of the operator’s net gaming revenue or net sports win at the time of settlement of
an event for real money gaming, considered usage-based fees, or at the time of purchase for in-game virtual credit for simulated
gaming. The customers cannot take possession of the hosted software. Further, the Company generates revenues from the licensing of proprietary
and third-party branded casino games (collectively “content licensing services”) hosted on the platform.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in">The
Company’s promise to provide the RMiG 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. Usage based fees are considered variable consideration as the service is to provide unlimited
continuous access to its hosted application and usage of the hosted system is primarily controlled by the player end user. The transaction
price includes fixed and variable consideration and is generally due thirty days from the date of invoice. Variable consideration is
allocated entirely to the period in which consideration is earned as the variable amounts relate specifically to the customer’s
usage of the platform that day and allocating the usage-based fees to each day is consistent with the allocation objective, primarily
that the change in amounts reflect the changing value to the customer.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in">Purchases
of virtual credits within a transaction period on the SIM platform, generally a monthly convention, are earned at a point in time, upon
the close of the respective period as the credit has no monetary value, cannot be redeemed, exchanged, transferred or withdrawn, represents
solely a device for tracking game play during the month, does not obligate the Company to provide future services and the arrangements
with the customer and player end user have no substantive termination penalty. <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 customer for their share of the SIM revenues generated from the Company’s platform. At September
30, 2021 and December 31, 2020, the Company has recorded a liability of $<span id="xdx_902_ecustom--AmountsDueToCustomersCurrent_c20210930_pn3n3">2,107
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_904_ecustom--AmountsDueToCustomersCurrent_c20201231_pn3n3">2,520</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
respectively, for its customers’ share of the fees within Other current liabilities in the condensed consolidated balance sheets.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 has 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 condensed consolidated statements of operations.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Gaming</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company operates the B2C gaming site www.Coolbet.com outside of the U.S., which is built on proprietary software and includes the following
product offerings: sportsbook, poker, casino, live casino and virtual sports.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 fixed odds wagering on such 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 <span id="xdx_905_ecustom--NumberOfThirdPartyGamingProductsAvailable_iI_pid_uInteger_c20210930_zOrgyAucV0B8" title="Number of third-party iGaming products available">2,000</span> 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 a reduction to revenue upon redemption or as revenue when the incentive expires.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Development
Services</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><i>Gaming
Development Services</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company generates revenue from fees for development of custom 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><i>Platform
Development Services</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Platform
development services consist of fees charged for ongoing development services to provide updates to the RMiG platforms for enhanced
functionality or customization. Ongoing platform development services are typically billed monthly, at a daily rate, for services performed.
Revenue from RMiG platform development services are considered additional distinct promises to the customer as they access the platform
in a single-tenant architecture, the added features provide new, discrete capabilities independent of the original features and provide
independent value to the customer. Revenue 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Computer
Hardware Sales</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company resells third-party hardware, such as computing servers and other technical devices, that are owned by the casino operators upon
which the GameSTACK software platform is installed and accessed by its customers. Customers cannot take possession of the hosted software
even when hosted on hardware that is owned by the customer or on third-party hardware. 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Patent
Licensing Revenue</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Contracts
with Multiple Performance Obligations</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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. Customer contracts can include platform and content services as well as development
services or hardware sales. The variable consideration is allocated entirely to the performance obligation for platform and content services
as the variable consideration is allocable specifically to the delivery of the services in the period and the allocation is consistent
with the allocation objective.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_843_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zceLizF5d21a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86E_zl9AOP6XaSs4">Cash</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is required to maintain compensating cash balances to satisfy its liabilities to users. Such balances are included within
Cash in the condensed consolidated balance sheets and are not subject to creditor claims. At September 30, 2021 the related liabilities to users was $<span id="xdx_90F_ecustom--ContractWithCustomerLiabilityToUserCurrent_iI_pn3n3_c20210930_zNUhb5sAX8Ca" title="Liabilities to users">7,863</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_841_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_zdNEJQtvoaw6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_868_zOCnag3Zodi3">Goodwill</span>
</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 5, 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company has determined that it has <span id="xdx_90C_eus-gaap--NumberOfReportingUnits_pid_dc_uInteger_c20210101__20210930_z9omaQFUbKWa" title="Number of reporting units">two</span> 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company performs its annual impairment review of goodwill as of October 1<sup>st</sup> 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p id="xdx_844_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zqUjRZBDDGta" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_869_zNFyoA9p68hk">Long-lived
Assets</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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. </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 is required in these valuations.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 an amortization
method that reflects 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 first half of 2022.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_847_eus-gaap--ResearchDevelopmentAndComputerSoftwarePolicyTextBlock_zS8VyswpQVca" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_865_zKUSRP3uz2o2">Capitalized
Software Development Costs, net</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Capitalized
software development costs are amortized on a straight-line basis over their estimated useful lives, which is generally <span id="xdx_907_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dc_c20210101__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_z6ME9ZbPbwYg" title="Estimated useful life (in years)">three years</span>,
and are included within Depreciation and amortization expense in the condensed consolidated statements of operations.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p id="xdx_84C_ecustom--LiabilitiesToUsersPolicyTextBlock_zZTSubHfSFKh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_868_zoYNG3Z9z2zl">Liabilities
to Users</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p id="xdx_84F_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zpUeNYBbyunh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86E_zBEytkdXyxB8">Share-based
Compensation</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Share-based
compensation expense is recognized for 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 (restricted stock awards and restricted stock units)
is based on the market price of the Company’s stock on the date of grant. The Company’s stock options and restricted stock
issued are considered equity awards and include only service conditions.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p id="xdx_844_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zdRUnKA5pU3d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_860_z9NJqq9SDF74">Reclassifications
of Prior Period Amounts</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Certain
prior period amounts have been reclassified to conform to the current period presentation. Specifically, 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
assets, Other assets, Accrued expenses, Other current liabilities and Other liabilities in the condensed consolidated balance sheet as
of December 31, 2020. These reclassifications had no impact on previously disclosed amounts for current assets, current liabilities,
total assets and total liabilities.</span></p>
<p id="xdx_850_zbPJHL9MHCr3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
<p id="xdx_843_eus-gaap--UseOfEstimates_ze32g9FCbQUc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; color: #212529"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_862_z1mGon4fczc">Use
of Estimates</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in; color: #212529"><span style="font: 10pt Times New Roman, Times, Serif">The
preparation of the condensed consolidated financial statements in conformity with 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_842_eus-gaap--ConsolidationPolicyTextBlock_zeMkAiQGLNIg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86F_z98WTrKFvzo4">Principles
of Consolidation</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif; color: #212529">The
condensed consolidated financial statements include the results of the Parent and its wholly-owned subsidiaries. All intercompany accounts
and </span><span style="font: 10pt Times New Roman, Times, Serif">transactions have been eliminated in consolidation.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p id="xdx_848_eus-gaap--ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_zxju90H1BPnj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_868_zCnI4oKwygM8">Foreign
Currency Translation and Transactions</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 gain (loss) of $<span id="xdx_90C_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_pn3n3_c20210701__20210930_zOaN6QxuEEC6" title="Foreign currency transaction and remeasurement gains and losses, net">(589)</span> and $<span id="xdx_90F_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_pn3n3_c20200701__20200930_zd06VEX04ive" title="Foreign currency transaction and remeasurement gains and losses, net">(379)</span> for the three months ended September 30, 2021 and 2020, respectively, and $<span id="xdx_906_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_pn3n3_c20210101__20210930_z8jRAeBoLZRi" title="Foreign currency transaction and remeasurement gains and losses, net">(761)</span> and
$<span id="xdx_906_eus-gaap--OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax_pn3n3_c20200101__20200930_zq9FUSxKraZb" title="Foreign currency transaction and remeasurement gains and losses, net">613</span> for the nine months ended September 30, 2021 and 2020, respectively.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
-589000
-379000
-761000
613000
<p id="xdx_848_ecustom--UnusualOrInfrequentItemOrBothCOVID19PolicyTextBlock_zXRrWZzUWrwb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86E_zspLDQzqQQAe">Risks
and Uncertainties – COVID-19</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
coronavirus disease 2019 (“COVID-19”) pandemic, which was declared a national emergency in the United States in March 2020,
has significantly impacted the economic conditions and financial markets around the world. The closure of land-based casinos, social
distancing, shelter-in-place, and similar restrictions implemented in response to the COVID-19 pandemic led to increases in the Company’s
existing and new player activity in its online iGaming offerings as compared to historic trends, primarily at the start of the second
quarter of 2020. Player activity in connection with the iGaming business has generally returned to pre-pandemic levels, or in certain
cases, has increased, following the re-opening of land-based casinos and easing of local restrictions.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">While
the Company’s iGaming business has proven resilient during the pandemic, uncertainties continue to exist as it relates to the magnitude
of impact and duration of the COVID-19 pandemic. The ultimate impact of the pandemic on the Company’s future operating results
is unknown and will depend, in part, on the length of time COVID-19 disruptions exist and the subsequent behavior of players after restrictions
are fully lifted. A recurrence of COVID-19 cases or an emergence of additional variants could adversely impact the Company’s future
financial results, though results from the Company’s iGaming business may partially offset any potential reduction to the
Company’s sports betting transactions resulting from the suspension or cancellation of sporting events. The Company has
considered the impact of COVID-19 on its accounting policies, judgments and estimates as part of the preparation of these condensed consolidated
financial statements.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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. COVID-19 may impact the Company’s ability to access capital to the extent it affects
the U.S. capital markets. The Company has assessed the extent to which COVID-19 has impacted events after the reporting date and
has not identified additional items to disclose as a result.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_843_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_z14pQsdPHJM4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Revenue
Recognition</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Platform
and Content Fees</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company’s platform and content fee revenues are generated primarily from its internet gambling SaaS platform, GameSTACK, that its
customers use to provide access to real money and simulated internet gaming, and online sports betting. The Company enters into hosted
service agreements with its customers, that generally range from <span id="xdx_902_ecustom--ContractWithCustomerDuration_dtYxL_c20210101__20210930__srt--RangeAxis__srt--MinimumMember_zgDjSlyPQse2" title="::XDX::P3Y"><span style="-sec-ix-hidden: xdx2ixbrl0909">three
</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">to <span id="xdx_901_ecustom--ContractWithCustomerDuration_dt_c20210101__20210930__srt--RangeAxis__srt--MaximumMember_zbeTFjU7CK0a">five
years</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">, and includes renewal provisions, under
which it charges fees based on a percentage of the operator’s net gaming revenue or net sports win at the time of settlement of
an event for real money gaming, considered usage-based fees, or at the time of purchase for in-game virtual credit for simulated
gaming. The customers cannot take possession of the hosted software. Further, the Company generates revenues from the licensing of proprietary
and third-party branded casino games (collectively “content licensing services”) hosted on the platform.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in">The
Company’s promise to provide the RMiG 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. Usage based fees are considered variable consideration as the service is to provide unlimited
continuous access to its hosted application and usage of the hosted system is primarily controlled by the player end user. The transaction
price includes fixed and variable consideration and is generally due thirty days from the date of invoice. Variable consideration is
allocated entirely to the period in which consideration is earned as the variable amounts relate specifically to the customer’s
usage of the platform that day and allocating the usage-based fees to each day is consistent with the allocation objective, primarily
that the change in amounts reflect the changing value to the customer.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in">Purchases
of virtual credits within a transaction period on the SIM platform, generally a monthly convention, are earned at a point in time, upon
the close of the respective period as the credit has no monetary value, cannot be redeemed, exchanged, transferred or withdrawn, represents
solely a device for tracking game play during the month, does not obligate the Company to provide future services and the arrangements
with the customer and player end user have no substantive termination penalty. <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 customer for their share of the SIM revenues generated from the Company’s platform. At September
30, 2021 and December 31, 2020, the Company has recorded a liability of $<span id="xdx_902_ecustom--AmountsDueToCustomersCurrent_c20210930_pn3n3">2,107
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_904_ecustom--AmountsDueToCustomersCurrent_c20201231_pn3n3">2,520</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
respectively, for its customers’ share of the fees within Other current liabilities in the condensed consolidated balance sheets.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 has 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 condensed consolidated statements of operations.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Gaming</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company operates the B2C gaming site www.Coolbet.com outside of the U.S., which is built on proprietary software and includes the following
product offerings: sportsbook, poker, casino, live casino and virtual sports.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 fixed odds wagering on such 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 <span id="xdx_905_ecustom--NumberOfThirdPartyGamingProductsAvailable_iI_pid_uInteger_c20210930_zOrgyAucV0B8" title="Number of third-party iGaming products available">2,000</span> 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 a reduction to revenue upon redemption or as revenue when the incentive expires.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Development
Services</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><i>Gaming
Development Services</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company generates revenue from fees for development of custom 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><i>Platform
Development Services</i></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Platform
development services consist of fees charged for ongoing development services to provide updates to the RMiG platforms for enhanced
functionality or customization. Ongoing platform development services are typically billed monthly, at a daily rate, for services performed.
Revenue from RMiG platform development services are considered additional distinct promises to the customer as they access the platform
in a single-tenant architecture, the added features provide new, discrete capabilities independent of the original features and provide
independent value to the customer. Revenue 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Computer
Hardware Sales</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company resells third-party hardware, such as computing servers and other technical devices, that are owned by the casino operators upon
which the GameSTACK software platform is installed and accessed by its customers. Customers cannot take possession of the hosted software
even when hosted on hardware that is owned by the customer or on third-party hardware. 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Patent
Licensing Revenue</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Contracts
with Multiple Performance Obligations</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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. Customer contracts can include platform and content services as well as development
services or hardware sales. The variable consideration is allocated entirely to the performance obligation for platform and content services
as the variable consideration is allocable specifically to the delivery of the services in the period and the allocation is consistent
with the allocation objective.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
P5Y
2107000
2520000
2000
<p id="xdx_843_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zceLizF5d21a" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86E_zl9AOP6XaSs4">Cash</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company is required to maintain compensating cash balances to satisfy its liabilities to users. Such balances are included within
Cash in the condensed consolidated balance sheets and are not subject to creditor claims. At September 30, 2021 the related liabilities to users was $<span id="xdx_90F_ecustom--ContractWithCustomerLiabilityToUserCurrent_iI_pn3n3_c20210930_zNUhb5sAX8Ca" title="Liabilities to users">7,863</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
7863000
<p id="xdx_841_eus-gaap--GoodwillAndIntangibleAssetsGoodwillPolicy_zdNEJQtvoaw6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_868_zOCnag3Zodi3">Goodwill</span>
</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 5, 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company has determined that it has <span id="xdx_90C_eus-gaap--NumberOfReportingUnits_pid_dc_uInteger_c20210101__20210930_z9omaQFUbKWa" title="Number of reporting units">two</span> 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company performs its annual impairment review of goodwill as of October 1<sup>st</sup> 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
2
<p id="xdx_844_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zqUjRZBDDGta" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_869_zNFyoA9p68hk">Long-lived
Assets</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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. </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 is required in these valuations.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 an amortization
method that reflects 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 first half of 2022.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_847_eus-gaap--ResearchDevelopmentAndComputerSoftwarePolicyTextBlock_zS8VyswpQVca" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_865_zKUSRP3uz2o2">Capitalized
Software Development Costs, net</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Capitalized
software development costs are amortized on a straight-line basis over their estimated useful lives, which is generally <span id="xdx_907_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dc_c20210101__20210930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_z6ME9ZbPbwYg" title="Estimated useful life (in years)">three years</span>,
and are included within Depreciation and amortization expense in the condensed consolidated statements of operations.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
P3Y
<p id="xdx_84C_ecustom--LiabilitiesToUsersPolicyTextBlock_zZTSubHfSFKh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_868_zoYNG3Z9z2zl">Liabilities
to Users</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p id="xdx_84F_eus-gaap--ShareBasedCompensationOptionAndIncentivePlansPolicy_zpUeNYBbyunh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_86E_zBEytkdXyxB8">Share-based
Compensation</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Share-based
compensation expense is recognized for 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 (restricted stock awards and restricted stock units)
is based on the market price of the Company’s stock on the date of grant. The Company’s stock options and restricted stock
issued are considered equity awards and include only service conditions.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p id="xdx_844_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zdRUnKA5pU3d" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i><span id="xdx_860_z9NJqq9SDF74">Reclassifications
of Prior Period Amounts</span></i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Certain
prior period amounts have been reclassified to conform to the current period presentation. Specifically, 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
assets, Other assets, Accrued expenses, Other current liabilities and Other liabilities in the condensed consolidated balance sheet as
of December 31, 2020. These reclassifications had no impact on previously disclosed amounts for current assets, current liabilities,
total assets and total liabilities.</span></p>
<p id="xdx_803_eus-gaap--BusinessCombinationDisclosureTextBlock_ztWLu9nFWqs3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
5</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_825_zHfuGHIDI671">ACQUISITION
OF VINCENT GROUP P.L.C.</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">On
January 1, 2021, the Company acquired all of the outstanding shares of Vincent Group p.l.c. (“Coolbet”). The business was
acquired for a purchase price of $<span id="xdx_90D_eus-gaap--BusinessCombinationConsiderationTransferred1_pn5n6_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zkZ0NCew00S2" title="Business acquisition, purchse price">218.1</span> million, after the final working capital adjustment and excluding acquisition related costs.
The cash portion of the purchase price was funded from proceeds received from issuance of ordinary shares in the Company’s follow-on
offering in December 2020 and available cash on hand. 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 U.S. The Company intends to continue to operate in the U.S. 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:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_893_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_zSODeQUti1F7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Fair
value of the consideration transferred:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B1_zd1ziFxfQGQ9" style="display: none">SUMMARY OF CONSIDERATION TRANSFERRED</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 78%; text-align: left">Cash paid to Vincent Group shareholders</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--PaymentsToAcquireBusinessesGross_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_pn3n3" style="width: 18%; text-align: right" title="Cash paid to Vincent Group shareholders">111,168</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span id="xdx_F4B_zRJYVt4b2gb8" style="font: 10pt Times New Roman, Times, Serif">Restricted ordinary shares issued to Vincent Group shareholders <sup>(1)</sup></span></td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_pn3n3_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_fKDEp_zJrSSrWRVh1" style="text-align: right" title="Restricted ordinary shares issued to Vincent Group shareholders">106,683</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt"><span id="xdx_F4C_zGA0KnwbJ2ek" style="font: 10pt Times New Roman, Times, Serif">Replacement equity-based awards to holders of Vincent Group equity-based awards <sup>(2)</sup></span></td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--BusinessCombinationConsiderationTransferredEquityInterestIssuable_pn3n3_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_fKDIp_zsr7wFCi9Ovd" style="border-bottom: Black 1pt solid; text-align: right" title="Replacement equity-based awards to holders of Vincent Group equity-based awards">297</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--BusinessCombinationConsiderationTransferred1_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">218,148</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F01_zD84RYHeKYJd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
<td id="xdx_F1F_z6LUniCAZpRl" style="text-align: justify; width: 96%">The share consideration
represents <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgQ09OU0lERVJBVElPTiBUUkFOU0ZFUlJFRCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_eus-gaap--NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1_pid_c20210101__20210102_zI5AtsFP1txa" title="Shares issued as partial consideration for acquisition (in shares)">5,260,516</span> ordinary shares issued to the Vincent Group shareholders multiplied by the Company’s share price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgQ09OU0lERVJBVElPTiBUUkFOU0ZFUlJFRCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_903_eus-gaap--BusinessAcquisitionSharePrice_iI_pid_c20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zkaqHPR7okb6" title="Share price of ordinary shares issued (in dollars per share)">20.28</span>
on the acquisition date.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F02_zRV2tcw23ZXh">(2)</span></td>
<td id="xdx_F1A_zWndEt2pZ4k1" style="text-align: justify; width: 96%">The replacement equity-based awards consist of options to purchase <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgQ09OU0lERVJBVElPTiBUUkFOU0ZFUlJFRCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCommonStockAvailableFromExercise_pid_c20210101__20210102_z10tcpIfl3be" title="Replacement equity-based awards (in shares)">67,830</span> 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.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<p id="xdx_8AC_zgFqiiIKv3E4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_891_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zRnKagNdmPjf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Recognized
amounts of identifiable assets acquired and liabilities assumed at fair value:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B4_z6aJorkLLxO7" style="display: none">SUMMARY OF FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zJ2YLzeBQima" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_pn3n3_maBCRIAzROV_zRLAkM23k1o6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 78%">Cash</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">18,714</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_40F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_pn3n3_maBCRIAzROV_z9vzwMYCXbR" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Prepaid expenses and other current assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,512</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_maBCRIAzROV_zcQAuDMTT75b" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Property and equipment</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">343</td><td style="text-align: left"> </td></tr>
<tr id="xdx_408_ecustom--BusinessCombinationIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightOfUseAssets_iI_pn3n3_maBCRIAzROV_zkwS3zsxmSWk" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating lease right-of-use assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">416</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_maBCRIAzROV_zlC4NfTLGvmd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Intangible assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">50,570</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_pn3n3_maBCRIAzROV_zFAZh7t5YwF1" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Other assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">73</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_pn3n3_di_msBCRIAzROV_zfaxzX4JUT78" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Accounts payable</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1,182</td><td style="text-align: left">)</td></tr>
<tr id="xdx_40C_ecustom--BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilityAssumedLiabilityToUsers_iNI_pn3n3_di_msBCRIAzROV_zjCigHo0nEE" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Liabilities to users</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(5,373</td><td style="text-align: left">)</td></tr>
<tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_pn3n3_di_msBCRIAzROV_z4TfIGzGcaEc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Other current liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1,797</td><td style="text-align: left">)</td></tr>
<tr id="xdx_40C_ecustom--BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilitiesAssumedLeaseObligationCurrent_iNI_pn3n3_di_msBCRIAzROV_ztX44gad8RUa" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating lease liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(167</td><td style="text-align: left">)</td></tr>
<tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iNI_pn3n3_di_msBCRIAzROV_z93Z4LLxBqeh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Deferred income taxes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(2,373</td><td style="text-align: left">)</td></tr>
<tr id="xdx_406_ecustom--BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilitiesAssumedLeaseObligationNoncurrent_iNI_pn3n3_di_msBCRIAzROV_zeELDuhmlgW7" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt">Noncurrent operating lease liabilities</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(231</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAzROV_maBCRIAz5jb_zZyLhV9JRHG2" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; text-align: left">Total identifiable net assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">60,505</td><td style="text-align: left"> </td></tr>
<tr id="xdx_407_eus-gaap--Goodwill_iI_pn3n3_maBCRIAz5jb_z0ZXDCjrWYw" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt">Goodwill</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">157,643</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAz5jb_zhWt6LAFAXa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; display: none">Total identifiable assets
acquired and liabilities assumed including goodwill, net</span></td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,148</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p id="xdx_8A9_zkbKO407Y3ig" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_89A_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock_zwZ9aMiIItkj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Identifiable
intangible assets acquired as part of the acquisition, including their respective expected useful lives, were as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B2_zZJKHNweC4ok" style="display: none">SUMMARY OF INTANGIBLE ASSETS ACQUIRED</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Estimated</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>useful life </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(in years)</b></span></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Fair Value</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Developed technology</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: center"> </td><td style="width: 16%; text-align: center"><span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DevelopedTechnologyMember_zraw1uKWEYla" title="Estimated useful life (in years)">3</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DevelopedTechnologyMember_pn3n3" style="width: 16%; text-align: right" title="Fair Value">29,600</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">In-process developed technology</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InProcessTechnologyMember_pn3n3" style="text-align: right" title="Fair Value">8,800</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Customer relationships</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z5EZmZt9y1I5" title="Estimated useful life (in years)">3</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_pn3n3" style="text-align: right" title="Fair Value">5,900</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Trade names and trademarks</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zTYhbwU5As0e" title="Estimated useful life (in years)">10</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="text-align: right" title="Fair Value">5,800</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt; text-align: left">Gaming licenses</td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">various</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--GamingLicensesMember_zPTUNaHVndW2" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value">470</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">50,570</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p id="xdx_8AB_z7PemRGg92lj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 U.S. 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 recognized in the acquisition is not deductible for tax purposes.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company has not finalized its accounting for the acquisition. Further analysis of the fair values assigned to the net assets acquired
and related tax impacts are ongoing. Accordingly, the purchase price allocation could change significantly.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">In
the third quarter of 2021, an adjustment to increase goodwill by $<span id="xdx_901_eus-gaap--GoodwillPurchaseAccountingAdjustments_pn3n3_c20210701__20210930_zEIhCC7unmIe">50
</span></span><span style="font: 10pt Times New Roman, Times, Serif">was made to the initial amounts recorded, which
relates to additional consideration paid by the Company to the seller as part of the final working capital adjustment. Additionally,
there was a net adjustment to decrease goodwill by $<span id="xdx_907_eus-gaap--GoodwillPurchaseAccountingAdjustments_pn3n3_c20210701__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_znCcXJJgKYhk">2,092
</span></span><span style="font: 10pt Times New Roman, Times, Serif">and increases to the values assigned to the intangible
assets by $<span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments_pn3n3_c20210701__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zjkYJKf5EAT7">2,200</span></span><span style="font: 10pt Times New Roman, Times, Serif">,
comprised of a $<span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments_pn3n3_c20210701__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DevelopedTechnologyMember_z2DIvYN7oRX8">1,500
</span></span><span style="font: 10pt Times New Roman, Times, Serif">increase to developed technology, $<span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments_pn3n3_c20210701__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InProcessTechnologyMember_zuYR6ScHrEU3">400
</span></span><span style="font: 10pt Times New Roman, Times, Serif">increase to in-process developed technology and
a $<span id="xdx_90E_eus-gaap--FiniteLivedIntangibleAssetsPurchaseAccountingAdjustments_pn3n3_c20210701__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z26L46qAoVth">300
</span></span><span style="font: 10pt Times New Roman, Times, Serif">increase to customer relationships, resulting
in a $<span id="xdx_907_eus-gaap--IncreaseDecreaseInIncomeTaxes_pn3n3_c20210701__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zANa7w1lQUO2">108
</span></span><span style="font: 10pt Times New Roman, Times, Serif">increase to deferred tax liabilities. The changes
in the value of the intangible assets resulted in an increase in amortization expense of $<span id="xdx_903_eus-gaap--AdjustmentForAmortization_pn3n3_c20210701__20210930_zCHA8PFhKl1b">447
</span></span><span style="font: 10pt Times New Roman, Times, Serif">during the three months ended September 30,
2021.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Giving
effect to these adjustments, the Company recorded a net deferred income tax liability of $<span id="xdx_900_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iI_pn3n3_c20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zKdsj0rXibdi">2,373
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">related to the intangible assets recorded in
the acquisition accounting. Goodwill of $<span id="xdx_908_eus-gaap--Goodwill_iI_pn3n3_c20210102_zIW1ehI0eOS">159,685</span></span> <span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">was
recorded at the time of acquisition and was adjusted to $<span id="xdx_905_eus-gaap--Goodwill_iI_pn3n3_c20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zLRKXM6GJ76e">157,643
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">in the third quarter of 2021. Goodwill arising
from the acquisition has been preliminarily assigned to the Company’s B2C and B2B segments. The Company expects the B2B segment
to benefit from the synergies of the combination. Following the acquisition, Coolbet’s operations are reported in the B2C segment.
Refer to Note 14 for the revenue and segment results of Coolbet since the acquisition date.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company incurred total acquisition-related costs of $<span id="xdx_902_eus-gaap--BusinessCombinationAcquisitionRelatedCosts_pn3n3_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zTBA6A2YJ5c8" title="Acquisition related costs">1,309</span>, of which $<span id="xdx_90A_eus-gaap--BusinessCombinationAcquisitionRelatedCosts_pn3n3_c20210101__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zh3eHLM9mf96" title="Acquisition related costs">290</span> were recorded during the nine months ended September 30, 2021.
The remaining costs were incurred in 2020.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Pro
Forma Operating Results</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 the 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 $<span id="xdx_902_eus-gaap--BusinessCombinationAcquisitionRelatedCosts_pn3n3_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zcBIuyQpoOX2">1,309
</span></span><span style="font: 10pt Times New Roman, Times, Serif">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. </span></p>
<p id="xdx_89E_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zLSXPfdxePxh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span> <span id="xdx_8B0_zohS5BzayuO3" style="display: none">PRO FORMA OPERATING RESULTS</span></span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_49D_20210701__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zMwj5DNsKEN3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> September 30, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_49F_20210101__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_z2y7jnep2JEb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine Months Ended<br/> September 30, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr id="xdx_40E_eus-gaap--BusinessAcquisitionsProFormaRevenue_pn3n3_zVsigmiad04a" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 56%">Revenue</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">18,437</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">47,181</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_407_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_pn3n3_zkmc5GWn92je" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Net loss</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">(5,072</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">(20,393</td><td style="text-align: left">)</td></tr>
<tr id="xdx_400_ecustom--BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted_pid_zhPMm6T0CIeh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Loss per share, basic and diluted</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">(0.15</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">(0.66</td><td style="text-align: left">)</td></tr>
</table>
<p id="xdx_8AA_z1eMw4wb7FDb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
218100000
<p id="xdx_893_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_zSODeQUti1F7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Fair
value of the consideration transferred:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B1_zd1ziFxfQGQ9" style="display: none">SUMMARY OF CONSIDERATION TRANSFERRED</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 78%; text-align: left">Cash paid to Vincent Group shareholders</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98D_eus-gaap--PaymentsToAcquireBusinessesGross_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_pn3n3" style="width: 18%; text-align: right" title="Cash paid to Vincent Group shareholders">111,168</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span id="xdx_F4B_zRJYVt4b2gb8" style="font: 10pt Times New Roman, Times, Serif">Restricted ordinary shares issued to Vincent Group shareholders <sup>(1)</sup></span></td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationConsiderationTransferredEquityInterestsIssuedAndIssuable_pn3n3_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_fKDEp_zJrSSrWRVh1" style="text-align: right" title="Restricted ordinary shares issued to Vincent Group shareholders">106,683</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt"><span id="xdx_F4C_zGA0KnwbJ2ek" style="font: 10pt Times New Roman, Times, Serif">Replacement equity-based awards to holders of Vincent Group equity-based awards <sup>(2)</sup></span></td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--BusinessCombinationConsiderationTransferredEquityInterestIssuable_pn3n3_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_fKDIp_zsr7wFCi9Ovd" style="border-bottom: Black 1pt solid; text-align: right" title="Replacement equity-based awards to holders of Vincent Group equity-based awards">297</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--BusinessCombinationConsiderationTransferred1_c20210101__20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Total">218,148</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F01_zD84RYHeKYJd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
<td id="xdx_F1F_z6LUniCAZpRl" style="text-align: justify; width: 96%">The share consideration
represents <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgQ09OU0lERVJBVElPTiBUUkFOU0ZFUlJFRCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_904_eus-gaap--NoncashOrPartNoncashAcquisitionNoncashFinancialOrEquityInstrumentConsiderationSharesIssued1_pid_c20210101__20210102_zI5AtsFP1txa" title="Shares issued as partial consideration for acquisition (in shares)">5,260,516</span> ordinary shares issued to the Vincent Group shareholders multiplied by the Company’s share price of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgQ09OU0lERVJBVElPTiBUUkFOU0ZFUlJFRCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_903_eus-gaap--BusinessAcquisitionSharePrice_iI_pid_c20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zkaqHPR7okb6" title="Share price of ordinary shares issued (in dollars per share)">20.28</span>
on the acquisition date.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F02_zRV2tcw23ZXh">(2)</span></td>
<td id="xdx_F1A_zWndEt2pZ4k1" style="text-align: justify; width: 96%">The replacement equity-based awards consist of options to purchase <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNVTU1BUlkgT0YgQ09OU0lERVJBVElPTiBUUkFOU0ZFUlJFRCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_902_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCommonStockAvailableFromExercise_pid_c20210101__20210102_z10tcpIfl3be" title="Replacement equity-based awards (in shares)">67,830</span> 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.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
111168000
106683000
297000
218148000
5260516
20.28
67830
<p id="xdx_891_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_zRnKagNdmPjf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Recognized
amounts of identifiable assets acquired and liabilities assumed at fair value:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B4_z6aJorkLLxO7" style="display: none">SUMMARY OF FAIR VALUES OF ASSETS ACQUIRED AND LIABILITIES ASSUMED</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zJ2YLzeBQima" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_iI_pn3n3_maBCRIAzROV_zRLAkM23k1o6" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 78%">Cash</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">18,714</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_40F_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_iI_pn3n3_maBCRIAzROV_z9vzwMYCXbR" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Prepaid expenses and other current assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,512</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment_iI_pn3n3_maBCRIAzROV_zcQAuDMTT75b" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Property and equipment</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">343</td><td style="text-align: left"> </td></tr>
<tr id="xdx_408_ecustom--BusinessCombinationIdentifiableAssetsAcquiredAndLiabilitiesAssumedOperatingLeaseRightOfUseAssets_iI_pn3n3_maBCRIAzROV_zkwS3zsxmSWk" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating lease right-of-use assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">416</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_maBCRIAzROV_zlC4NfTLGvmd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Intangible assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">50,570</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedOtherNoncurrentAssets_iI_pn3n3_maBCRIAzROV_zFAZh7t5YwF1" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Other assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">73</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_iNI_pn3n3_di_msBCRIAzROV_zfaxzX4JUT78" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Accounts payable</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1,182</td><td style="text-align: left">)</td></tr>
<tr id="xdx_40C_ecustom--BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilityAssumedLiabilityToUsers_iNI_pn3n3_di_msBCRIAzROV_zjCigHo0nEE" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Liabilities to users</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(5,373</td><td style="text-align: left">)</td></tr>
<tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_iNI_pn3n3_di_msBCRIAzROV_z4TfIGzGcaEc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Other current liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1,797</td><td style="text-align: left">)</td></tr>
<tr id="xdx_40C_ecustom--BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilitiesAssumedLeaseObligationCurrent_iNI_pn3n3_di_msBCRIAzROV_ztX44gad8RUa" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Operating lease liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(167</td><td style="text-align: left">)</td></tr>
<tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDeferredTaxLiabilities_iNI_pn3n3_di_msBCRIAzROV_z93Z4LLxBqeh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Deferred income taxes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(2,373</td><td style="text-align: left">)</td></tr>
<tr id="xdx_406_ecustom--BusinessCombinationRecognizedIdentifiableAssetAcquiredAndLiabilitiesAssumedLeaseObligationNoncurrent_iNI_pn3n3_di_msBCRIAzROV_zeELDuhmlgW7" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt">Noncurrent operating lease liabilities</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(231</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAzROV_maBCRIAz5jb_zZyLhV9JRHG2" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; text-align: left">Total identifiable net assets</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">60,505</td><td style="text-align: left"> </td></tr>
<tr id="xdx_407_eus-gaap--Goodwill_iI_pn3n3_maBCRIAz5jb_z0ZXDCjrWYw" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt">Goodwill</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">157,643</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iTI_pn3n3_mtBCRIAz5jb_zhWt6LAFAXa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif; display: none">Total identifiable assets
acquired and liabilities assumed including goodwill, net</span></td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">218,148</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
18714000
1512000
343000
416000
50570000
73000
1182000
5373000
1797000
167000
2373000
231000
60505000
157643000
218148000
<p id="xdx_89A_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsAcquiredAsPartOfBusinessCombinationTextBlock_zwZ9aMiIItkj" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Identifiable
intangible assets acquired as part of the acquisition, including their respective expected useful lives, were as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B2_zZJKHNweC4ok" style="display: none">SUMMARY OF INTANGIBLE ASSETS ACQUIRED</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>Estimated</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>useful life </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>(in years)</b></span></p></td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Fair Value</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Developed technology</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: center"> </td><td style="width: 16%; text-align: center"><span id="xdx_902_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DevelopedTechnologyMember_zraw1uKWEYla" title="Estimated useful life (in years)">3</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--DevelopedTechnologyMember_pn3n3" style="width: 16%; text-align: right" title="Fair Value">29,600</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">In-process developed technology</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--InProcessTechnologyMember_pn3n3" style="text-align: right" title="Fair Value">8,800</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Customer relationships</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z5EZmZt9y1I5" title="Estimated useful life (in years)">3</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_981_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_pn3n3" style="text-align: right" title="Fair Value">5,900</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Trade names and trademarks</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zTYhbwU5As0e" title="Estimated useful life (in years)">10</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="text-align: right" title="Fair Value">5,800</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt; text-align: left">Gaming licenses</td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">various</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_iI_pn3n3_c20210102__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--GamingLicensesMember_zPTUNaHVndW2" style="border-bottom: Black 1pt solid; text-align: right" title="Fair Value">470</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibles_c20210102__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Fair Value">50,570</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
P3Y
29600000
8800000
P3Y
5900000
P10Y
5800000
470000
50570000
50000
2092000
2200000
1500000
400000
300000
108000
447000
2373000
159685000
157643000
1309000
290000
1309000
<p id="xdx_89E_eus-gaap--BusinessAcquisitionProFormaInformationTextBlock_zLSXPfdxePxh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span> <span id="xdx_8B0_zohS5BzayuO3" style="display: none">PRO FORMA OPERATING RESULTS</span></span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_49D_20210701__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zMwj5DNsKEN3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Three Months Ended<br/> September 30, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_49F_20210101__20210930__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_z2y7jnep2JEb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Nine Months Ended<br/> September 30, 2020</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr id="xdx_40E_eus-gaap--BusinessAcquisitionsProFormaRevenue_pn3n3_zVsigmiad04a" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 56%">Revenue</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">18,437</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 18%; text-align: right">47,181</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_407_eus-gaap--BusinessAcquisitionsProFormaNetIncomeLoss_pn3n3_zkmc5GWn92je" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Net loss</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">(5,072</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">(20,393</td><td style="text-align: left">)</td></tr>
<tr id="xdx_400_ecustom--BusinessAcquisitionProFormaEarningsPerShareBasicAndDiluted_pid_zhPMm6T0CIeh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Loss per share, basic and diluted</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">(0.15</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">(0.66</td><td style="text-align: left">)</td></tr>
</table>
18437000
47181000
-5072000
-20393000
-0.15
-0.66
<p id="xdx_801_eus-gaap--ResearchDevelopmentAndComputerSoftwareDisclosureTextBlock_zfR3jXU373Sa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
6</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_820_zjmeNuEstAla">CAPITALIZED
SOFTWARE DEVELOPMENT COSTS, NET</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_895_ecustom--ScheduleOfCapitalizedComputerizedSoftwareTableTextBlock_zcugu5tiSEXl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Capitalized
software development costs, net at September 30, 2021 and December 31, 2020 consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BF_zX7lbVqb108e" style="display: none">SCHEDULE OF CAPITALIZED COMPUTER SOFTWARE COSTS, NET</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_49A_20210930_zi60lAPgIrMa" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">September 30,<br/> 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_496_20201231_zrtOC6n8PzJd" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><p style="margin-top: 0; margin-bottom: 0">December 31,</p>
<p style="margin-top: 0; margin-bottom: 0">2020</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"><b style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></b></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td></tr>
<tr id="xdx_40C_ecustom--CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress_iI_pn3n3_maCCSGz9A4_zrx7ytyZhtU" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Capitalized software development costs</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">26,762</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">26,507</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_408_ecustom--CapitalizedComputerSoftwareInProgressDevelopment_iI_pn3n3_maCCSGz9A4_zOLgq8UWJuKl" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt">Development in progress</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,225</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,641</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr id="xdx_409_eus-gaap--CapitalizedComputerSoftwareGross_iTI_pn3n3_mtCCSGz9A4_maCCSNzyyO_zXVanOENtbW4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; text-align: left">Total capitalized software development costs</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">31,987</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">29,148</td><td style="text-align: left"> </td></tr>
<tr id="xdx_404_eus-gaap--CapitalizedComputerSoftwareAccumulatedAmortization_iNI_pn3n3_di_msCCSNzyyO_zeBOytYqV3r1" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,655</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22,500</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr id="xdx_409_eus-gaap--CapitalizedComputerSoftwareNet_iTI_pn3n3_mtCCSNzyyO_ze5lLAyja9Gi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,332</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,648</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p id="xdx_8A9_z8I2Ranq0kGd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">At
September 30, 2021, development in progress primarily represented costs associated with new proprietary content and enhancements to the
software platform, as well as integration of Coolbet’s sportsbook into the B2B platform. The new B2B sportsbook technology is expected
to be placed in service in the first half of 2022.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amortization
expense related to capitalized software development costs was $<span id="xdx_905_eus-gaap--CapitalizedComputerSoftwareAmortization1_pn3n3_c20210701__20210930_zUSEEkJujLq4" title="Amortization expense">908
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90A_eus-gaap--CapitalizedComputerSoftwareAmortization1_pn3n3_c20200701__20200930_zLiUxUjIGMOg" title="Amortization expense">667
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the three months ended September 30, 2021
and 2020, respectively, and $<span id="xdx_906_eus-gaap--CapitalizedComputerSoftwareAmortization1_pn3n3_c20210101__20210930_zqzP8hh92ucb" title="Amortization expense">2,569
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90F_eus-gaap--CapitalizedComputerSoftwareAmortization1_pn3n3_c20200101__20200930_z93E2dCMGiS8" title="Amortization expense">2,038
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the nine months ended September 30, 2021
and 2020, respectively.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0; margin-top: 0; margin-bottom: 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p id="xdx_895_ecustom--ScheduleOfCapitalizedComputerizedSoftwareTableTextBlock_zcugu5tiSEXl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Capitalized
software development costs, net at September 30, 2021 and December 31, 2020 consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BF_zX7lbVqb108e" style="display: none">SCHEDULE OF CAPITALIZED COMPUTER SOFTWARE COSTS, NET</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_49A_20210930_zi60lAPgIrMa" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">September 30,<br/> 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_496_20201231_zrtOC6n8PzJd" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><p style="margin-top: 0; margin-bottom: 0">December 31,</p>
<p style="margin-top: 0; margin-bottom: 0">2020</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"><b style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></b></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td></tr>
<tr id="xdx_40C_ecustom--CapitalizedComputerSoftwareGrossExcludingDevelopmentInProgress_iI_pn3n3_maCCSGz9A4_zrx7ytyZhtU" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Capitalized software development costs</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">26,762</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">26,507</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_408_ecustom--CapitalizedComputerSoftwareInProgressDevelopment_iI_pn3n3_maCCSGz9A4_zOLgq8UWJuKl" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt">Development in progress</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">5,225</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,641</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr id="xdx_409_eus-gaap--CapitalizedComputerSoftwareGross_iTI_pn3n3_mtCCSGz9A4_maCCSNzyyO_zXVanOENtbW4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; text-align: left">Total capitalized software development costs</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">31,987</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">29,148</td><td style="text-align: left"> </td></tr>
<tr id="xdx_404_eus-gaap--CapitalizedComputerSoftwareAccumulatedAmortization_iNI_pn3n3_di_msCCSNzyyO_zeBOytYqV3r1" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated amortization</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(19,655</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(22,500</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr id="xdx_409_eus-gaap--CapitalizedComputerSoftwareNet_iTI_pn3n3_mtCCSNzyyO_ze5lLAyja9Gi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,332</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,648</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
26762000
26507000
5225000
2641000
31987000
29148000
19655000
22500000
12332000
6648000
908000
667000
2569000
2038000
<p id="xdx_80E_eus-gaap--GoodwillAndIntangibleAssetsDisclosureTextBlock_zHnfa0IoTgUf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
7</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_82E_z8trHcrbiXJ1">GOODWILL
AND INTANGIBLE ASSETS</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Goodwill</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_893_eus-gaap--ScheduleOfGoodwillTextBlock_zf1P8NJtvUw7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
changes in the carrying amount of goodwill, by segment, for the nine months ended September 30, 2021 were as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B9_ziZb6IqdDIo3" style="display: none">SCHEDULE OF GOODWILL</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-left: 10pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">B2B</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">B2C</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Total</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt">Balance at January 1, 2021</td><td> </td>
<td style="text-align: left">$</td><td id="xdx_980_eus-gaap--Goodwill_iS_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zMOWYSXM6RL3" style="text-align: right" title="Goodwill, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1068">—</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--Goodwill_iS_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zt3lpiiTdAHc" style="text-align: right" title="Goodwill, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1070">—</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td id="xdx_982_eus-gaap--Goodwill_iS_pn3n3_c20210101__20210930_zjqwVEz0JSy" style="text-align: right" title="Goodwill, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1072">—</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; width: 46%; text-align: left">Goodwill acquired in Coolbet acquisition</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--GoodwillAcquiredDuringPeriod_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 14%; text-align: right" title="Goodwill acquired in Coolbet acquisition">67,547</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--GoodwillAcquiredDuringPeriod_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="width: 14%; text-align: right" title="Goodwill acquired in Coolbet acquisition">92,138</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--GoodwillAcquiredDuringPeriod_c20210101__20210930_pn3n3" style="width: 14%; text-align: right" title="Goodwill acquired in Coolbet acquisition">159,685</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt"><span id="xdx_F4C_zPqZo13y27m4" style="font: 10pt Times New Roman, Times, Serif">Reallocation of goodwill <sup>(1)</sup></span></td><td> </td>
<td style="text-align: left"> </td><td id="xdx_981_ecustom--ReallocationOfGoodwill_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_fKDEp_zTOlzsVeIQLk" style="text-align: right" title="Reallocation of goodwill">10,859</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_ecustom--ReallocationOfGoodwill_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_fKDEp_zksuRjX5BAe" style="text-align: right" title="Reallocation of goodwill">(10,859</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_ecustom--ReallocationOfGoodwill_pn3n3_c20210101__20210930_fKDEp_zv1WWTHJeKfl" style="text-align: right" title="Reallocation of goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1084">—</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; text-align: left">Measurement period adjustments (Note 5)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_ecustom--GoodwillMeasurementPeriodAdjustments_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="text-align: right" title="Measurement period adjustments">(1,003</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_ecustom--GoodwillMeasurementPeriodAdjustments_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Measurement period adjustments">(1,039</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_ecustom--GoodwillMeasurementPeriodAdjustments_c20210101__20210930_pn3n3" style="text-align: right" title="Measurement period adjustments">(2,042</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Effect of foreign currency translation</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--GoodwillTranslationAndPurchaseAccountingAdjustments_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Effect of foreign currency translation">(3,894</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--GoodwillTranslationAndPurchaseAccountingAdjustments_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Effect of foreign currency translation">(4,734</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--GoodwillTranslationAndPurchaseAccountingAdjustments_c20210101__20210930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Effect of foreign currency translation">(8,628</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; padding-bottom: 2.5pt">Balance at September 30, 2021</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--Goodwill_iE_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zYZpuzAHleE5" style="border-bottom: Black 2.5pt double; text-align: right" title="Goodwill, ending balance">73,509</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--Goodwill_iE_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zpGSqx0jcgTi" style="border-bottom: Black 2.5pt double; text-align: right" title="Goodwill, ending balance">75,506</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--Goodwill_iE_pn3n3_c20210101__20210930_z5SkEEdV08ib" style="border-bottom: Black 2.5pt double; text-align: right" title="Goodwill, ending balance">149,015</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><sup/></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F05_zBsdt9dEIL6f" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
<td id="xdx_F10_zeQ0jyJwCcIg" style="text-align: justify; width: 96%">During the third quarter of 2021, the preliminary allocation of goodwill was refined to allocate the goodwill between the segments
based on each reporting unit’s estimated relative enterprise value, and their respective acquired assets and assumed liabilities.
The acquired assets include intangible assets that are expected to be used within the Company’s B2C and B2B segments.</td></tr>
</table>
<p id="xdx_8A4_ze1qSE1HKiNc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Intangible
Assets</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><i> </i></span></p>
<p id="xdx_899_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_z6Mswr7g7J35" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Definite-lived
intangible assets, net consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B1_zFsg2giMiHfg" style="display: none">SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Amortization Period</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Gross Carrying Amount</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Accumulated Amortization</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Net Carrying Amount</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left">Developed technology</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: center"> </td><td style="width: 11%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_z687hEefeCik" title="Weighted Average Amortization Period">3.0</span> years</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_pn3n3" style="width: 11%; text-align: right" title="Gross Carrying Amount">28,038</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zwo3LJzNILH2" style="width: 11%; text-align: right" title="Accumulated Amortization">(7,010</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_pn3n3" style="width: 11%; text-align: right" title="Net Carrying Amount">21,028</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">In-process technology</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__custom--InProcessTechnologyMember_pn3n3" style="text-align: right" title="Gross Carrying Amount">8,336</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__custom--InProcessTechnologyMember_zPZMzCdDDcsd" style="text-align: right" title="Accumulated Amortization"><span style="-sec-ix-hidden: xdx2ixbrl1117">—</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__custom--InProcessTechnologyMember_pn3n3" style="text-align: right" title="Net Carrying Amount">8,336</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Customer relationships</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zUiS48E0CwCk" title="Weighted Average Amortization Period">3.0</span> years</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_pn3n3" style="text-align: right" title="Gross Carrying Amount">5,589</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zQHcwK1lAGK1" style="text-align: right" title="Accumulated Amortization">(1,397</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_pn3n3" style="text-align: right" title="Net Carrying Amount">4,192</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Trade names and trademarks</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zVup4csemNT" title="Weighted Average Amortization Period">10.0</span> years</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="text-align: right" title="Gross Carrying Amount">5,828</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zCh8mYMSjQC" style="text-align: right" title="Accumulated Amortization">(751</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="text-align: right" title="Net Carrying Amount">5,077</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Gaming licenses</td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_ztHTFcEcHCY5" title="Weighted Average Amortization Period">6.6</span> years</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Gross Carrying Amount">2,005</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zLhgocmgGUPd" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Amortization">(1,117</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Net Carrying Amount">888</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Carrying Amount">49,796</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930_zDneVjarUDHg" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Amortization">(10,275</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">39,521</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td>
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Amortization Period</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Gross Carrying Amount</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Accumulated Amortization</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Net Carrying Amount</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 41%; text-align: left">Trade names and trademarks</td><td style="width: 2%"> </td>
<td style="text-align: center; width: 12%"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20200101__20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zB2fD8lcP0ek" title="Weighted Average Amortization Period">3.0</span> years</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--FiniteLivedIntangibleAssetsGross_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="width: 11%; text-align: right" title="Gross Carrying Amount">343</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_z5KAnxwB0xk2" style="width: 11%; text-align: right" title="Accumulated Amortization">(343</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsNet_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="width: 11%; text-align: right" title="Net Carrying Amount"><span style="-sec-ix-hidden: xdx2ixbrl1157">—</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt">Gaming licenses</td><td style="padding-bottom: 1.5pt"> </td>
<td style="text-align: center; padding-bottom: 1.5pt"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20200101__20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zLaHWkrdMFSf" title="Weighted Average Amortization Period">5.3</span> years</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsGross_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Gross Carrying Amount">1,366</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zwcIY6Ho0Ckl" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Amortization">(898</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsNet_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Net Carrying Amount">468</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_c20201231_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Carrying Amount">1,709</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20201231_zQe52jTW5cCe" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Amortization">(1,241</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--FiniteLivedIntangibleAssetsNet_c20201231_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">468</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p id="xdx_8A2_z6FrejaBpkhg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In-process
technology consists of a proprietary technical platform (refer to Note 5 – Acquisition of Vincent Group p.l.c.). The technology
is expected to be completed and placed in service in the first half of 2022, after which it will be amortized over its estimated useful
life.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Amortization
expense related to intangible assets was $<span id="xdx_900_eus-gaap--AmortizationOfIntangibleAssets_c20210701__20210930_pn3n3" title="Amortization expense related to capitalized development costs">3,356</span> and $<span id="xdx_902_eus-gaap--AmortizationOfIntangibleAssets_c20200701__20200930_pn3n3" title="Amortization expense related to capitalized development costs">29</span> for the three months ended September 30, 2021 and 2020, respectively, and $<span id="xdx_90E_eus-gaap--AmortizationOfIntangibleAssets_c20210101__20210930_pn3n3" title="Amortization expense related to capitalized development costs">9,319</span>
and $<span id="xdx_908_eus-gaap--AmortizationOfIntangibleAssets_c20200101__20200930_pn3n3" title="Amortization expense related to capitalized development costs">97</span> for the nine months ended September 30, 2021 and 2020, respectively. The estimated amortization expense for the next five years
is as follows: $<span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear_iI_pn3n3_c20210930_zKjULoQcDDK1" title="Estimated amortization expense, remainder of fiscal year">3,007</span> for the remainder of 2021; $<span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_c20210930_pn3n3" title="Estimated amortization expense, 2022">12,019</span> for 2022; $<span id="xdx_900_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_c20210930_pn3n3" title="Estimated amortization expense, 2023">12,000</span> for 2023; $<span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_c20210930_pn3n3" title="Estimated amortization expense, 2024">644</span> for 2024; $<span id="xdx_908_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_c20210930_pn3n3" title="Estimated amortization expense, 2025">631</span> for 2025.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
<p id="xdx_893_eus-gaap--ScheduleOfGoodwillTextBlock_zf1P8NJtvUw7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
changes in the carrying amount of goodwill, by segment, for the nine months ended September 30, 2021 were as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B9_ziZb6IqdDIo3" style="display: none">SCHEDULE OF GOODWILL</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-left: 10pt; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">B2B</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">B2C</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Total</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0pt">Balance at January 1, 2021</td><td> </td>
<td style="text-align: left">$</td><td id="xdx_980_eus-gaap--Goodwill_iS_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zMOWYSXM6RL3" style="text-align: right" title="Goodwill, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1068">—</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--Goodwill_iS_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zt3lpiiTdAHc" style="text-align: right" title="Goodwill, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1070">—</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td id="xdx_982_eus-gaap--Goodwill_iS_pn3n3_c20210101__20210930_zjqwVEz0JSy" style="text-align: right" title="Goodwill, beginning balance"><span style="-sec-ix-hidden: xdx2ixbrl1072">—</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; width: 46%; text-align: left">Goodwill acquired in Coolbet acquisition</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--GoodwillAcquiredDuringPeriod_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 14%; text-align: right" title="Goodwill acquired in Coolbet acquisition">67,547</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--GoodwillAcquiredDuringPeriod_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="width: 14%; text-align: right" title="Goodwill acquired in Coolbet acquisition">92,138</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--GoodwillAcquiredDuringPeriod_c20210101__20210930_pn3n3" style="width: 14%; text-align: right" title="Goodwill acquired in Coolbet acquisition">159,685</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt"><span id="xdx_F4C_zPqZo13y27m4" style="font: 10pt Times New Roman, Times, Serif">Reallocation of goodwill <sup>(1)</sup></span></td><td> </td>
<td style="text-align: left"> </td><td id="xdx_981_ecustom--ReallocationOfGoodwill_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_fKDEp_zTOlzsVeIQLk" style="text-align: right" title="Reallocation of goodwill">10,859</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_ecustom--ReallocationOfGoodwill_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_fKDEp_zksuRjX5BAe" style="text-align: right" title="Reallocation of goodwill">(10,859</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_ecustom--ReallocationOfGoodwill_pn3n3_c20210101__20210930_fKDEp_zv1WWTHJeKfl" style="text-align: right" title="Reallocation of goodwill"><span style="-sec-ix-hidden: xdx2ixbrl1084">—</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; text-align: left">Measurement period adjustments (Note 5)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_983_ecustom--GoodwillMeasurementPeriodAdjustments_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="text-align: right" title="Measurement period adjustments">(1,003</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_ecustom--GoodwillMeasurementPeriodAdjustments_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Measurement period adjustments">(1,039</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_ecustom--GoodwillMeasurementPeriodAdjustments_c20210101__20210930_pn3n3" style="text-align: right" title="Measurement period adjustments">(2,042</td><td style="text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Effect of foreign currency translation</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--GoodwillTranslationAndPurchaseAccountingAdjustments_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Effect of foreign currency translation">(3,894</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--GoodwillTranslationAndPurchaseAccountingAdjustments_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Effect of foreign currency translation">(4,734</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--GoodwillTranslationAndPurchaseAccountingAdjustments_c20210101__20210930_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Effect of foreign currency translation">(8,628</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 0pt; padding-bottom: 2.5pt">Balance at September 30, 2021</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--Goodwill_iE_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zYZpuzAHleE5" style="border-bottom: Black 2.5pt double; text-align: right" title="Goodwill, ending balance">73,509</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--Goodwill_iE_pn3n3_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zpGSqx0jcgTi" style="border-bottom: Black 2.5pt double; text-align: right" title="Goodwill, ending balance">75,506</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_986_eus-gaap--Goodwill_iE_pn3n3_c20210101__20210930_z5SkEEdV08ib" style="border-bottom: Black 2.5pt double; text-align: right" title="Goodwill, ending balance">149,015</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><sup/></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F05_zBsdt9dEIL6f" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
<td id="xdx_F10_zeQ0jyJwCcIg" style="text-align: justify; width: 96%">During the third quarter of 2021, the preliminary allocation of goodwill was refined to allocate the goodwill between the segments
based on each reporting unit’s estimated relative enterprise value, and their respective acquired assets and assumed liabilities.
The acquired assets include intangible assets that are expected to be used within the Company’s B2C and B2B segments.</td></tr>
</table>
67547000
92138000
159685000
10859000
-10859000
-1003000
-1039000
-2042000
-3894000
-4734000
-8628000
73509000
75506000
149015000
<p id="xdx_899_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_z6Mswr7g7J35" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Definite-lived
intangible assets, net consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B1_zFsg2giMiHfg" style="display: none">SCHEDULE OF FINITE-LIVED INTANGIBLE ASSETS</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30, 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Amortization Period</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Gross Carrying Amount</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Accumulated Amortization</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Net Carrying Amount</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left">Developed technology</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: center"> </td><td style="width: 11%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90B_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_z687hEefeCik" title="Weighted Average Amortization Period">3.0</span> years</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_pn3n3" style="width: 11%; text-align: right" title="Gross Carrying Amount">28,038</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_zwo3LJzNILH2" style="width: 11%; text-align: right" title="Accumulated Amortization">(7,010</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--DevelopedTechnologyRightsMember_pn3n3" style="width: 11%; text-align: right" title="Net Carrying Amount">21,028</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">In-process technology</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__custom--InProcessTechnologyMember_pn3n3" style="text-align: right" title="Gross Carrying Amount">8,336</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__custom--InProcessTechnologyMember_zPZMzCdDDcsd" style="text-align: right" title="Accumulated Amortization"><span style="-sec-ix-hidden: xdx2ixbrl1117">—</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--IndefiniteLivedIntangibleAssetsByMajorClassAxis__custom--InProcessTechnologyMember_pn3n3" style="text-align: right" title="Net Carrying Amount">8,336</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Customer relationships</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90E_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zUiS48E0CwCk" title="Weighted Average Amortization Period">3.0</span> years</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_pn3n3" style="text-align: right" title="Gross Carrying Amount">5,589</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_986_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zQHcwK1lAGK1" style="text-align: right" title="Accumulated Amortization">(1,397</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_pn3n3" style="text-align: right" title="Net Carrying Amount">4,192</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Trade names and trademarks</td><td> </td>
<td style="text-align: center"> </td><td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zVup4csemNT" title="Weighted Average Amortization Period">10.0</span> years</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="text-align: right" title="Gross Carrying Amount">5,828</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zCh8mYMSjQC" style="text-align: right" title="Accumulated Amortization">(751</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="text-align: right" title="Net Carrying Amount">5,077</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Gaming licenses</td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_90D_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20210101__20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_ztHTFcEcHCY5" title="Weighted Average Amortization Period">6.6</span> years</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Gross Carrying Amount">2,005</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zLhgocmgGUPd" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Amortization">(1,117</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Net Carrying Amount">888</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: center"> </td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsGross_c20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Carrying Amount">49,796</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20210930_zDneVjarUDHg" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Amortization">(10,275</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsNet_c20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">39,521</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; padding-bottom: 1.5pt"> </td>
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Amortization Period</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Gross Carrying Amount</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Accumulated Amortization</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Net Carrying Amount</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 41%; text-align: left">Trade names and trademarks</td><td style="width: 2%"> </td>
<td style="text-align: center; width: 12%"><span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20200101__20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_zB2fD8lcP0ek" title="Weighted Average Amortization Period">3.0</span> years</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--FiniteLivedIntangibleAssetsGross_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="width: 11%; text-align: right" title="Gross Carrying Amount">343</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_z5KAnxwB0xk2" style="width: 11%; text-align: right" title="Accumulated Amortization">(343</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsNet_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--TrademarksAndTradeNamesMember_pn3n3" style="width: 11%; text-align: right" title="Net Carrying Amount"><span style="-sec-ix-hidden: xdx2ixbrl1157">—</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt">Gaming licenses</td><td style="padding-bottom: 1.5pt"> </td>
<td style="text-align: center; padding-bottom: 1.5pt"><span id="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_dtY_c20200101__20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zLaHWkrdMFSf" title="Weighted Average Amortization Period">5.3</span> years</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsGross_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Gross Carrying Amount">1,366</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_zwcIY6Ho0Ckl" style="border-bottom: Black 1pt solid; text-align: right" title="Accumulated Amortization">(898</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--FiniteLivedIntangibleAssetsNet_c20201231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicenseMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Net Carrying Amount">468</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="text-align: center; padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--FiniteLivedIntangibleAssetsGross_c20201231_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Gross Carrying Amount">1,709</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pn3n3_di_c20201231_zQe52jTW5cCe" style="border-bottom: Black 2.5pt double; text-align: right" title="Accumulated Amortization">(1,241</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--FiniteLivedIntangibleAssetsNet_c20201231_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Net Carrying Amount">468</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
P3Y
28038000
7010000
21028000
8336000
8336000
P3Y
5589000
1397000
4192000
P10Y
5828000
751000
5077000
P6Y7M6D
2005000
1117000
888000
49796000
10275000
39521000
P3Y
343000
343000
P5Y3M18D
1366000
898000
468000
1709000
1241000
468000
3356000
29000
9319000
97000
3007000
12019000
12000000
644000
631000
<p id="xdx_807_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zIbF5oVM7CKf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
8</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_827_zBt8bfMmCzM4">ACCRUED
EXPENSES</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_896_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zDStbxopyfm8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Accrued
expenses consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B6_zndk9RIdIqi8" style="display: none">SCHEDULE OF ACCRUED EXPENSES</span> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_491_20210930_zGfYkopovm14" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><p style="text-align: center; margin-top: 0; margin-bottom: 0">September 30,</p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0">2021</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_490_20201231_z9oHxlvFWkFc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="text-align: center; margin-top: 0; margin-bottom: 0">December 31,</p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0">2020</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr id="xdx_40F_ecustom--AccruedLicensingFeesCurrent_iI_pn3n3_maALCzt4i_znB9WSExwEV4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Content licensing fees</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,304</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,984</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_407_eus-gaap--AccruedIncomeTaxesCurrent_iI_pn3n3_maALCzt4i_zhG0bFzSoJc7" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Income taxes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,794</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40B_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_pn3n3_maALCzt4i_zOqHZrPDMbSa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Sales taxes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,267</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">756</td><td style="text-align: left"> </td></tr>
<tr id="xdx_402_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzt4i_zQLUsBX1IHKd" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">583</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">606</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr id="xdx_408_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzt4i_z5pnuSUA7Ljf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,948</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,363</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p id="xdx_8A7_zifoHW7RQJDk" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"> </p>
<p id="xdx_896_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zDStbxopyfm8" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Accrued
expenses consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8B6_zndk9RIdIqi8" style="display: none">SCHEDULE OF ACCRUED EXPENSES</span> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_491_20210930_zGfYkopovm14" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><p style="text-align: center; margin-top: 0; margin-bottom: 0">September 30,</p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0">2021</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" id="xdx_490_20201231_z9oHxlvFWkFc" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="text-align: center; margin-top: 0; margin-bottom: 0">December 31,</p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0">2020</p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr id="xdx_40F_ecustom--AccruedLicensingFeesCurrent_iI_pn3n3_maALCzt4i_znB9WSExwEV4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Content licensing fees</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,304</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">1,984</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_407_eus-gaap--AccruedIncomeTaxesCurrent_iI_pn3n3_maALCzt4i_zhG0bFzSoJc7" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Income taxes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,794</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">17</td><td style="text-align: left"> </td></tr>
<tr id="xdx_40B_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_pn3n3_maALCzt4i_zOqHZrPDMbSa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Sales taxes</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,267</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">756</td><td style="text-align: left"> </td></tr>
<tr id="xdx_402_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_pn3n3_maALCzt4i_zQLUsBX1IHKd" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">583</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">606</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr id="xdx_408_eus-gaap--AccruedLiabilitiesCurrent_iTI_pn3n3_mtALCzt4i_z5pnuSUA7Ljf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt">Total</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6,948</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">3,363</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
2304000
1984000
2794000
17000
1267000
756000
583000
606000
6948000
3363000
<p id="xdx_802_eus-gaap--OtherLiabilitiesDisclosureTextBlock_z35aZq4bEUu6" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
9</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_824_zUTqm5kGA7Mk">OTHER
CURRENT LIABILITIES</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p>
<p id="xdx_89A_eus-gaap--OtherCurrentLiabilitiesTableTextBlock_zmCsqKirz1c9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Other
current liabilities consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B9_z8OlMQ6cPST" style="display: none">SCHEDULE OF OTHER CURRENT LIABILITIES</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" id="xdx_49C_20210930_zQ18Mx9Ynsw5" style="border-bottom: Black 1pt solid; font-weight: bold"><p style="text-align: center; margin-top: 0; margin-bottom: 0">September 30,</p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0">2021</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" id="xdx_499_20201231_zfWMdSdWkpCk" style="border-bottom: Black 1pt solid; font-weight: bold"><p style="text-align: center; margin-top: 0; margin-bottom: 0">December 31,</p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0">2020</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_40D_ecustom--AmountsDueToCustomersCurrent_iI_pn3n3_maOLCzcVq_zCF0R4xlOqbc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Revenue share due to SIM customers</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,107</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,520</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_406_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_maOLCzcVq_zgNSQctxhhn6" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Contract liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">740</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,083</td><td style="text-align: left"> </td></tr>
<tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLCzcVq_zt2nPbLEqrlk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Operating lease liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">491</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">262</td><td style="text-align: left"> </td></tr>
<tr id="xdx_400_eus-gaap--OtherSundryLiabilitiesCurrent_iI_pn3n3_maOLCzcVq_zwdxcaYncqtc" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">866</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">202</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr id="xdx_40E_eus-gaap--OtherLiabilitiesCurrent_iTI_pn3n3_mtOLCzcVq_zU0MkVSgHGP8" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,204</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,067</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p id="xdx_8A0_zYwKvLrymoh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Revenue
share due to SIM customers represents the fees collected for in-game virtual credit purchases made by end-user players due to SIM casino
operator customers for their share of the SIM revenues generated from the Company’s platform.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_89A_eus-gaap--OtherCurrentLiabilitiesTableTextBlock_zmCsqKirz1c9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Other
current liabilities consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B9_z8OlMQ6cPST" style="display: none">SCHEDULE OF OTHER CURRENT LIABILITIES</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" id="xdx_49C_20210930_zQ18Mx9Ynsw5" style="border-bottom: Black 1pt solid; font-weight: bold"><p style="text-align: center; margin-top: 0; margin-bottom: 0">September 30,</p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0">2021</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" id="xdx_499_20201231_zfWMdSdWkpCk" style="border-bottom: Black 1pt solid; font-weight: bold"><p style="text-align: center; margin-top: 0; margin-bottom: 0">December 31,</p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0">2020</p></td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_40D_ecustom--AmountsDueToCustomersCurrent_iI_pn3n3_maOLCzcVq_zCF0R4xlOqbc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left">Revenue share due to SIM customers</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,107</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 16%; text-align: right">2,520</td><td style="width: 1%; text-align: left"> </td></tr>
<tr id="xdx_406_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_maOLCzcVq_zgNSQctxhhn6" style="vertical-align: bottom; background-color: White">
<td style="text-align: left">Contract liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">740</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,083</td><td style="text-align: left"> </td></tr>
<tr id="xdx_409_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pn3n3_maOLCzcVq_zt2nPbLEqrlk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Operating lease liabilities</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">491</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">262</td><td style="text-align: left"> </td></tr>
<tr id="xdx_400_eus-gaap--OtherSundryLiabilitiesCurrent_iI_pn3n3_maOLCzcVq_zwdxcaYncqtc" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">866</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">202</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr id="xdx_40E_eus-gaap--OtherLiabilitiesCurrent_iTI_pn3n3_mtOLCzcVq_zU0MkVSgHGP8" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,204</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,067</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
2107000
2520000
740000
1083000
491000
262000
866000
202000
4204000
4067000
<p id="xdx_80B_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zfPSLkgJSOwa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
10</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_82C_zbhwSh1Fp7I4">SHARE-BASED
COMPENSATION</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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 initially provides for grants of up to <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20200430__us-gaap--PlanNameAxis__custom--TwoThousandTwentyEquityIncentivePlanMember_z9ppz4MAhP6b" title="Number of shares available for grant">4,400,000</span> ordinary shares, which then increases through 2029,
by the lesser of <span id="xdx_90C_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfPriorYearsOutstandingSharesIncreaseInNumberOfSharesAvailableForGrant_iI_pid_c20200430__us-gaap--PlanNameAxis__custom--TwoThousandTwentyEquityIncentivePlanMember_zdZ2y8d6tHjh" title="Percentage increase based on prior year's outstanding shares">4%</span> of the previous year’s total outstanding ordinary shares on December 31<sup>st</sup> or as determined by the
Board of Directors. Such grants may be issued as incentive stock options, nonqualified stock options, stock appreciation rights, restricted
stock grants, stock units, and other equity awards for issuance to employees, consultants or non-employee directors. On January 20, 2021,
the 2020 Plan provided for grants of up to <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20210120__us-gaap--PlanNameAxis__custom--TwoThousandTwentyEquityIncentivePlanMember_zc58iDot5jL9" title="Number of shares remaining for future issuance">5,865,414</span> shares. At September 30, 2021, there were <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_c20210930__us-gaap--PlanNameAxis__custom--TwoThousandTwentyEquityIncentivePlanMember_zZS6vYvH7bwa" title="Number of shares remaining for future issuance">455,910</span> shares available for future issuance
under the 2020 Plan. Share-based awards are issued at no less than fair market value of an ordinary share on the date of grant.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Stock
Options</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Stock
option awards are granted with an exercise price equal to the fair market value of the Company’s ordinary shares on the date of
grant. Stock option awards generally vest <span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_zVa6nQe2EM9f" title="Vesting percentage">25%</span> after one year and then monthly over the next 36 months thereafter and have a maximum term
of <span id="xdx_90D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_dc_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_ztDymE7H5Bp1" title="Expiration period of options">ten years</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">During
the nine months ended September 30, 2021, the Board of Directors approved the issuance of options to purchase <span id="xdx_90B_ecustom--ShareBasedCompensationByShareBasedCompensationAwardOptionsGrantsInPeriodNetOfSharesIssuedForAcquisition_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zYWKtwrx52jc" title="Options approved for issuance (in shares)">1,730,310</span> ordinary shares
to employees, including executives and certain long-standing employees under the 2020 Plan.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">In
addition, in accordance with the acquisition agreement, the Company issued <span id="xdx_90F_ecustom--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCommonStockAvailableFromExercise_c20210101__20210930_zwViW0YRuNO4" title="Replacement equity-based awards (in shares)">67,830</span> 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
<span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_dtYxH_c20210101__20210930__srt--RangeAxis__srt--MinimumMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zjTflYDfWfKc" title="Expected period of recognition for replacement stock option awards::XDX::1">one</span> to <span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardRequisiteServicePeriod1_dtYxL_c20210101__20210930__srt--RangeAxis__srt--MaximumMember__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--BusinessAcquisitionAxis__custom--VincentGroupPLCMember_zZ1AHZq9CETi" title="Expected period of recognition for replacement stock option awards::XDX::3"><span style="-sec-ix-hidden: xdx2ixbrl1249">three</span></span> years.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zbn55aAtxvpi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">A
summary of the stock option activity as of and for the nine months ended September 30, 2021 is as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8BF_zs75zCZeawMj" style="display: none">SCHEDULE OF SHARE-BASED COMPENSATION, OPTION ACTIVITY</span> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Number of Shares</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Exercise Price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Contractual Term</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%">Outstanding at December 31, 2020</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20210101__20210930_z6UERiS1MKSi" style="width: 11%; text-align: right" title="Number of Shares, Outstanding, beginning balance">3,061,859</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20210101__20210930_zEtGwSeBPcDe" style="width: 11%; text-align: right" title="Weighted Average Exercise Price, Outstanding, beginning balance">8.06</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20200101__20201231_zAHQhpb33tVd" title="Weighted Average Contractual Term, Outstanding">8.5</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20210101__20210930_zKUa3FBmNF1" title="Aggregate Intrinsic Value, Outstanding">37,410</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt">Granted</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20210101__20210930_zUlOSSmVETA6" style="text-align: right" title="Number of Shares, Granted">1,798,140</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20210101__20210930_zUsHJqW2NWgc" style="text-align: right" title="Weighted Average Exercise Price, Granted">21.91</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt">Exercised</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20210101__20210930_zYD8yzczo7I6" style="text-align: right" title="Number of Shares, Exercised">(279,128</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20210101__20210930_zxkkN7aBeGq1" style="text-align: right" title="Weighted Average Exercise Price, Exercised">2.96</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Forfeited/expired or cancelled</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20210101__20210930_zrJ4LQ3pGLU8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited/expired or cancelled">(311,890</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20210101__20210930_zjH7INVo0UE1" style="padding-bottom: 1.5pt; text-align: right" title="Weighted Average Exercise Price, Forfeited/expired or cancelled">21.28</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt">Outstanding at September 30, 2021</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20210101__20210930_zGf9R5ueQfFc" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Outstanding, ending balance">4,268,981</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20210101__20210930_zd4Sc8yEu1na" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Outstanding, ending balance">13.26</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20210101__20210930_zwoDEgPEy26l" title="Weighted Average Contractual Term, Outstanding">8.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20210101__20210930_zNOuf3ZUZtbe" title="Aggregate Intrinsic Value, Outstanding">21,757</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt">Options exercisable at September 30, 2021</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20210101__20210930_ztdI3vxjhlBa" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Options, exercisable at end of period">1,943,931</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20210101__20210930_zGsLpOIWYP3b" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Options, exercisable at end of period">5.41</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20210101__20210930_zy3gVOJ32xIi" title="Weighted Average Contractual Term, Options Exercisable">7.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20210101__20210930_z5Duc1qSOsz2" title="Aggregate Intrinsic Value, Options Exercisable">19,631</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
<p id="xdx_8A6_zkOrXeRiWbB2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company recorded share-based compensation expense related to stock options of $<span id="xdx_905_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_c20210701__20210930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zP75z1yeqDAc" title="Share-based compensation expense recognized">1,693
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_903_eus-gaap--AllocatedShareBasedCompensationExpense_c20200701__20200930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_pn3n3">650
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the three months ended September 30, 2021
and 2020, respectively, and $<span id="xdx_907_eus-gaap--AllocatedShareBasedCompensationExpense_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_pn3n3">4,639
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_c20200101__20200930__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_pn3n3">5,095
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the nine months ended September 30, 2021
and 2020, respectively. Such share-based compensation expense is recorded net of capitalized software development costs of $<span id="xdx_907_eus-gaap--CapitalizedComputerSoftwareAdditions_pn3n3_c20210701__20210930_zVgVFhLWjijj">65
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90F_eus-gaap--CapitalizedComputerSoftwareAdditions_pn3n3_c20200701__20200930_zZekcE2w9Sb7">13
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the three months ended September 30,
2021 and 2020, respectively, and $<span id="xdx_90F_eus-gaap--CapitalizedComputerSoftwareAdditions_pn3n3_c20210101__20210930_zcId53hmqOZf">170
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_905_eus-gaap--CapitalizedComputerSoftwareAdditions_pn3n3_c20200101__20200930_zZ6I3Kc7qcE4">43
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the nine months ended September 30,
2021 and 2020, respectively. Additionally, the</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> share-based
compensation expense for the nine months ended September 30, 2020 includes $<span id="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost_c20200101__20200930_pn3n3">3,881
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">from acceleration of vesting of awards in connection
with the Company’s initial public offering. At September 30, 2021, there was $<span id="xdx_906_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions_c20210930_pn3n3">20,944
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of total unrecognized compensation cost related
to nonvested stock options. The unrecognized compensation cost is expected to be recognized over a weighted-average period of <span id="xdx_90A_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20210101__20210930_zBEOhUllEGVk">3.2
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">years.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_89E_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zggPrxZ4m6vg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
grant date fair value of each stock option grant was determined using the following weighted average assumptions:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BB_zc3mfDEqTJik" style="display: none">SCHEDULE OF SHARE-BASED COMPENSATION, FAIR VALUE ASSUMPTIONS</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_497_20210101__20210930_z7m2fKNCQe27" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49E_20200101__20200930_zwKQVYpbvvl3" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_zs287LSHG5J1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left"><span style="font-size: 10pt">Expected stock price volatility</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 16%; text-align: right"><span style="font-size: 10pt">61.38</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt">%</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 16%; text-align: right"><span style="font-size: 10pt">72.64</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt">%</span></td></tr>
<tr id="xdx_403_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_ziqyfPbMjbJ" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Expected term (in years)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">4.95</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">5.0</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_z3yuTySOeUw" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Risk-free interest rate</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">0.75</span></td><td style="text-align: left"><span style="font-size: 10pt">%</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">0.33</span></td><td style="text-align: left"><span style="font-size: 10pt">%</span></td></tr>
<tr id="xdx_40D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_zTq5Fl6bb6o3" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Dividend yield</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">0</span></td><td style="text-align: left"><span style="font-size: 10pt">%</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">0</span></td><td style="text-align: left"><span style="font-size: 10pt">%</span></td></tr>
</table>
<p id="xdx_8A6_zYlkbFSVEDs2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
weighted average grant date fair value of options granted was $<span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20210701__20210930_zOEXv6uISojg" title="Weighted average grant date fair value of options granted">8.00</span> and $<span id="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20200701__20200930_zdYJ08q9bhSb" title="Weighted average grant date fair value of options granted">12.03</span> for the three months ended September 30, 2021 and 2020,
respectively, and $<span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20210101__20210930_z3jIgQ5kGQj4" title="Weighted average grant date fair value of options granted">11.49</span> and $<span id="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20200101__20200930_zpBhauqlgqs1" title="Weighted average grant date fair value of options granted">9.60</span> for the nine months ended September 30, 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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. 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">For
the period 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">In
2020, the Company recorded a liability for social taxes and income taxes related to certain unexercised legacy options at the time of
the Share Exchange. The Company accounted for the required cash payment as a cash-settled share-based compensation transaction. The related
liability for the future cash payment related to employee and employer taxes on outstanding unexercised legacy options of $<span id="xdx_90D_eus-gaap--DeferredTaxLiabilities_iI_pn3n3_c20210930_zYP1jnvzFkT" title="Deferred tax liability">565</span> and $<span id="xdx_90D_eus-gaap--DeferredTaxLiabilities_iI_pn3n3_c20201231_z8LXCU2cI49" title="Deferred tax liability">826</span>
at September 30, 2021 and December 31, 2020, respectively, is recorded in Accrued compensation and benefits in the condensed consolidated
balance sheets. The Company recorded an expense (benefit) of $<span id="xdx_904_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherIncreaseDecreaseInLiability_c20210701__20210930_pn3n3" title="Decrease in liability for cash-settled share-based compensation">(58)</span> and $<span id="xdx_902_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherIncreaseDecreaseInLiability_c20200701__20200930_pn3n3" title="Decrease in liability for cash-settled share-based compensation">(416)</span> related to these options during the three months ended
September 30, 2021 and 2020, respectively, and $<span id="xdx_90F_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherIncreaseDecreaseInLiability_c20210101__20210930_pn3n3" title="Decrease in liability for cash-settled share-based compensation">(239)</span> and $<span id="xdx_90D_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOtherIncreaseDecreaseInLiability_c20200101__20200930_pn3n3" title="Decrease in liability for cash-settled share-based compensation">2,407</span> during the nine months ended September 30, 2021 and 2020, respectively.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Restricted
Stock Units</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">On
March 9, 2021, the Board of Directors approved the issuance of <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20210301__20210309__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zZcNu1AUjPye" title="Restricted stock issued">10,358</span> restricted stock units to its non-employee directors. The restricted
stock units vest over <span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dc_c20210301__20210309__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zvS98GWnulK1" title="Vesting period">one year</span> from the date of grant with <span id="xdx_906_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardAwardVestingRightsPercentage_pid_c20210301__20210309__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__us-gaap--VestingAxis__custom--ShareBasedPaymentArrangementTrancheFiveMember_z6HBHesTMa01" title="Vesting percentage">25%</span> 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 $<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20210301__20210309__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zEesO6xm7Qm" title="Grant date fair value of restricted stock">25.10</span> per share. During the nine months ended September 30, 2021, <span id="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zQQsr6VFcW61" title="Restricted stock units vested">7,768</span> restricted stock units vested and as of September 30,
2021, <span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber_iI_pid_c20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zt25O1X7KyP2" title="Restricted stock units outstanding">2,590</span> restricted stock units remained outstanding. The Company recorded share-based compensation expense related to the restricted
stock units of $<span id="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_c20210701__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_pn3n3" title="Share-based compensation expense recognized">65</span> and $<span id="xdx_907_eus-gaap--AllocatedShareBasedCompensationExpense_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_pn3n3" title="Share-based compensation expense recognized">195</span> for the three and nine months ended September 30, 2021, respectively. At September 30, 2021, there was $<span id="xdx_90F_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedShareBasedAwardsOtherThanOptions_c20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_pn3n3" title="Unrecognized share-based compensation expense">65</span>
of total unrecognized compensation cost related to nonvested restricted stock units. The remaining cost is expected to be recognized
during the next three months. The total fair value of the restricted stock units that vested during the nine months ended September 30,
2021 was $<span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_pn3n3_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zCjljHluXqy2" title="Fair value of restricted stock units vested">195</span>.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_895_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zUntdo4vuhn1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">A
summary of the restricted stock unit activity as of and for the nine months ended September 30, 2021 is as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BC_zFylTwGWuj34" style="display: none">SCHEDULE OF SHARE BASED COMPENSATION, UNIT ACTIVITY</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Number
of</span></p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Shares</span></p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Weighted</span></p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Average</span></p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Grant
Date</span></p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Fair
Value</span></p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><span style="font-size: 10pt">Outstanding at December 31, 2020</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zKp6dhpa8Uvc" style="text-align: right" title="Number of Shares Outstanding, Beginning Balance"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1357">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zgBtJYrVFIK3" style="text-align: right" title="Weighted Average Grant Date Fair Value, Beginning Balance"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1359">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; width: 60%"><span style="font-size: 10pt">Granted</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zhfBNkZB9A0a" style="width: 16%; text-align: right" title="Number of Shares, Granted"><span style="font-size: 10pt">10,358</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ziiZEoBAjd23" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value, Granted"><span style="font-size: 10pt">25.10</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt"><span style="font-size: 10pt">Vested</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zlBiAPyukMY4" style="text-align: right" title="Number of Shares, Vested"><span style="font-size: 10pt">(7,768</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zRaeYB2O7zwf" style="text-align: right" title="Weighted Average Grant Date Fair Value, Vested"><span style="font-size: 10pt">25.10</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Forfeited/expired or cancelled</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zC9oFE3aJtRd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited/expired or cancelled"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1369">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zq7v2mSCuSe" style="padding-bottom: 1.5pt; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited/expired or cancelled"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1371">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt"><span style="font-size: 10pt">Outstanding at September 30, 2021</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxhSSNo3hHy6" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares Outstanding, Ending Balance"><span style="font-size: 10pt">2,590</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxEva4N1Nvka" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Grant Date Fair Value, Ending Balance"><span style="font-size: 10pt">25.10</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p id="xdx_8A6_ziCSkNt1ayXd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-size: 10pt"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Restricted
Stock Awards</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">In
June 2020, the Board of Directors approved the issuance of <span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_pid_c20200601__20200630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zxZWdkwRMI1c">93,680
</span></span><span style="font: 10pt Times New Roman, Times, Serif">restricted stock awards to the Chief Executive
Officer and non-employee directors. The restricted stock awards vest <span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_c20200601__20200630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zjemMRpRwAR3">one
year</span></span> <span style="font: 10pt Times New Roman, Times, Serif">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 $<span id="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pp2d_c20200601__20200630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z5YFOaJxA5F5">18.19
</span></span><span style="font: 10pt Times New Roman, Times, Serif">per share. The Company recorded share-based compensation
expense related to the restricted stock awards of $<span><span id="xdx_900_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_c20210701__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zVHYeLZvkarb">0</span>
and $<span id="xdx_90A_eus-gaap--AllocatedShareBasedCompensationExpense_c20200701__20200930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_pn3n3">429</span></span></span> <span style="font: 10pt Times New Roman, Times, Serif">for the three months ended September
30, 2021 and 2020, and $<span id="xdx_909_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zHvO8lPQjugd">770
</span></span><span style="font: 10pt Times New Roman, Times, Serif">and $<span id="xdx_906_eus-gaap--AllocatedShareBasedCompensationExpense_pn3n3_c20200101__20200930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_zXXsjiV6gGnb">504
</span></span><span style="font: 10pt Times New Roman, Times, Serif">during the nine months ended September 30, 2021
and 2020, respectively. The total fair value of the restricted stock awards that vested during the nine months ended September 30, 2021
was $<span id="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodTotalFairValue_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_pn3n3">1,704</span></span><span style="font: 10pt Times New Roman, Times, Serif">.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>2020
Employee Stock Purchase Plan</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Board of Directors established the 2020 Employee Stock Purchase Plan, or the ESPP, which was approved by the Company’s shareholders
in July 2021. The ESPP is intended to qualify under Section 423 of the U.S. Internal Revenue Service Code of 1986, as amended. <span id="xdx_903_eus-gaap--EmployeeStockOwnershipPlanESOPPlanDescription_c20210101__20210930__us-gaap--PlanNameAxis__custom--TwoThousandTwentyEmployeeStockPurchasePlanMember" title="Employee Stock purchase plan, description">The ESPP
provides initially for <span id="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized_iI_pid_c20210930__us-gaap--PlanNameAxis__custom--TwoThousandTwentyEmployeeStockPurchasePlanMember_zBTg7cQ5CYP2" title="Number of shares available for grant">300,000</span> ordinary shares to be sold and increases on February 1, 2022 and on each subsequent February 1 through
and including February 1, 2030, equal to the lesser of (i) 0.25 percent of the number of ordinary shares issued and outstanding on the
immediately preceding December 31, or (ii) 100,000 ordinary shares, or (iii) such number of ordinary shares as determined by the Board
of Directors.</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
ESPP is designed to allow eligible employees to purchase ordinary shares, at quarterly intervals, with their accumulated payroll deductions.
The participants are offered the option to purchase ordinary shares at a discount during a series of successive offering periods. The
option purchase price may be the lower of <span id="xdx_908_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_c20210101__20210930__us-gaap--PlanNameAxis__custom--TwoThousandTwentyEmployeeStockPurchasePlanMember_zvarE8BAGkt1" title="Closing trading price, percentage">85%</span> of the closing trading price per share of the Company’s ordinary shares on the first
trading date of an offering period in which a participant is enrolled or <span id="xdx_90B_eus-gaap--DebtInstrumentConvertibleThresholdPercentageOfStockPriceTrigger_pid_c20210101__20210930__us-gaap--PlanNameAxis__custom--TwoThousandTwentyEmployeeStockPurchasePlanMember_z4zEdNanZkI8" title="Closing trading price, percentage">85%</span> of the closing trading price per share on the purchase date,
which will occur on the last trading day of each offering period. Currently, an offering period is defined as a three-month duration
commencing on or about January, April, July and October of each year. Also, one purchase period is included within each offering period.
The Company plans to commence its first offering period and first purchase period in 2022.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
4400000
0.04
5865414
455910
0.25
P10Y
1730310
67830
<p id="xdx_89B_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zbn55aAtxvpi" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">A
summary of the stock option activity as of and for the nine months ended September 30, 2021 is as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8BF_zs75zCZeawMj" style="display: none">SCHEDULE OF SHARE-BASED COMPENSATION, OPTION ACTIVITY</span> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Number of Shares</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Exercise Price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold">Weighted Average Contractual Term</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Aggregate Intrinsic Value</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%">Outstanding at December 31, 2020</td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_c20210101__20210930_z6UERiS1MKSi" style="width: 11%; text-align: right" title="Number of Shares, Outstanding, beginning balance">3,061,859</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_c20210101__20210930_zEtGwSeBPcDe" style="width: 11%; text-align: right" title="Weighted Average Exercise Price, Outstanding, beginning balance">8.06</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right"><span id="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20200101__20201231_zAHQhpb33tVd" title="Weighted Average Contractual Term, Outstanding">8.5</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right"><span id="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pn3n3_c20210101__20210930_zKUa3FBmNF1" title="Aggregate Intrinsic Value, Outstanding">37,410</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt">Granted</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_c20210101__20210930_zUlOSSmVETA6" style="text-align: right" title="Number of Shares, Granted">1,798,140</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_c20210101__20210930_zUsHJqW2NWgc" style="text-align: right" title="Weighted Average Exercise Price, Granted">21.91</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt">Exercised</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_988_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_c20210101__20210930_zYD8yzczo7I6" style="text-align: right" title="Number of Shares, Exercised">(279,128</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_c20210101__20210930_zxkkN7aBeGq1" style="text-align: right" title="Weighted Average Exercise Price, Exercised">2.96</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt">Forfeited/expired or cancelled</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_c20210101__20210930_zrJ4LQ3pGLU8" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited/expired or cancelled">(311,890</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left"> </td><td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_c20210101__20210930_zjH7INVo0UE1" style="padding-bottom: 1.5pt; text-align: right" title="Weighted Average Exercise Price, Forfeited/expired or cancelled">21.28</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt; text-align: right"> </td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt">Outstanding at September 30, 2021</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_c20210101__20210930_zGf9R5ueQfFc" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Outstanding, ending balance">4,268,981</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_c20210101__20210930_zd4Sc8yEu1na" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Outstanding, ending balance">13.26</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20210101__20210930_zwoDEgPEy26l" title="Weighted Average Contractual Term, Outstanding">8.2</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pn3n3_c20210101__20210930_zNOuf3ZUZtbe" title="Aggregate Intrinsic Value, Outstanding">21,757</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 2.5pt">Options exercisable at September 30, 2021</td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_c20210101__20210930_ztdI3vxjhlBa" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares, Options, exercisable at end of period">1,943,931</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="padding-bottom: 2.5pt; text-align: left">$</td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_c20210101__20210930_zGsLpOIWYP3b" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Exercise Price, Options, exercisable at end of period">5.41</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_909_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20210101__20210930_zy3gVOJ32xIi" title="Weighted Average Contractual Term, Options Exercisable">7.1</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td>
<td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_902_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iE_pn3n3_c20210101__20210930_z5Duc1qSOsz2" title="Aggregate Intrinsic Value, Options Exercisable">19,631</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr>
</table>
3061859
8.06
P8Y6M
37410000
1798140
21.91
279128
2.96
311890
21.28
4268981
13.26
P8Y2M12D
21757000
1943931
5.41
P7Y1M6D
19631000
1693000
650000
4639000
5095000
65000
13000
170000
43000
3881000
20944000
P3Y2M12D
<p id="xdx_89E_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_zggPrxZ4m6vg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
grant date fair value of each stock option grant was determined using the following weighted average assumptions:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BB_zc3mfDEqTJik" style="display: none">SCHEDULE OF SHARE-BASED COMPENSATION, FAIR VALUE ASSUMPTIONS</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_497_20210101__20210930_z7m2fKNCQe27" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49E_20200101__20200930_zwKQVYpbvvl3" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font: 10pt Times New Roman, Times, Serif"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_pid_dp_uPure_zs287LSHG5J1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 60%; text-align: left"><span style="font-size: 10pt">Expected stock price volatility</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 16%; text-align: right"><span style="font-size: 10pt">61.38</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt">%</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 16%; text-align: right"><span style="font-size: 10pt">72.64</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt">%</span></td></tr>
<tr id="xdx_403_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_ziqyfPbMjbJ" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Expected term (in years)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">4.95</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">5.0</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pid_dp_uPure_z3yuTySOeUw" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Risk-free interest rate</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">0.75</span></td><td style="text-align: left"><span style="font-size: 10pt">%</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">0.33</span></td><td style="text-align: left"><span style="font-size: 10pt">%</span></td></tr>
<tr id="xdx_40D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pid_dp_uPure_zTq5Fl6bb6o3" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Dividend yield</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">0</span></td><td style="text-align: left"><span style="font-size: 10pt">%</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">0</span></td><td style="text-align: left"><span style="font-size: 10pt">%</span></td></tr>
</table>
0.6138
0.7264
P4Y11M12D
P5Y
0.0075
0.0033
0
0
8.00
12.03
11.49
9.60
565000
826000
-58000
-416000
-239000
2407000
10358
P1Y
0.25
25.10
7768
2590
65000
195000
65000
195000
<p id="xdx_895_eus-gaap--ScheduleOfSharebasedCompensationRestrictedStockAndRestrictedStockUnitsActivityTableTextBlock_zUntdo4vuhn1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">A
summary of the restricted stock unit activity as of and for the nine months ended September 30, 2021 is as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8BC_zFylTwGWuj34" style="display: none">SCHEDULE OF SHARE BASED COMPENSATION, UNIT ACTIVITY</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; text-align: center; font-weight: bold"><p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Number
of</span></p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Shares</span></p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Weighted</span></p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Average</span></p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Grant
Date</span></p>
<p style="text-align: center; margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">Fair
Value</span></p></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><span style="font-size: 10pt">Outstanding at December 31, 2020</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iS_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zKp6dhpa8Uvc" style="text-align: right" title="Number of Shares Outstanding, Beginning Balance"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1357">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iS_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zgBtJYrVFIK3" style="text-align: right" title="Weighted Average Grant Date Fair Value, Beginning Balance"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1359">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; width: 60%"><span style="font-size: 10pt">Granted</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zhfBNkZB9A0a" style="width: 16%; text-align: right" title="Number of Shares, Granted"><span style="font-size: 10pt">10,358</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_ziiZEoBAjd23" style="width: 16%; text-align: right" title="Weighted Average Grant Date Fair Value, Granted"><span style="font-size: 10pt">25.10</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt"><span style="font-size: 10pt">Vested</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod_iN_pid_di_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zlBiAPyukMY4" style="text-align: right" title="Number of Shares, Vested"><span style="font-size: 10pt">(7,768</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zRaeYB2O7zwf" style="text-align: right" title="Weighted Average Grant Date Fair Value, Vested"><span style="font-size: 10pt">25.10</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Forfeited/expired or cancelled</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeituresAndExpirations_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zC9oFE3aJtRd" style="border-bottom: Black 1pt solid; text-align: right" title="Number of Shares, Forfeited/expired or cancelled"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1369">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zq7v2mSCuSe" style="padding-bottom: 1.5pt; text-align: right" title="Weighted Average Grant Date Fair Value, Forfeited/expired or cancelled"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1371">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 2.5pt"><span style="font-size: 10pt">Outstanding at September 30, 2021</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber_iE_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxhSSNo3hHy6" style="border-bottom: Black 2.5pt double; text-align: right" title="Number of Shares Outstanding, Ending Balance"><span style="font-size: 10pt">2,590</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue_iE_pid_c20210101__20210930__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember_zxEva4N1Nvka" style="padding-bottom: 2.5pt; text-align: right" title="Weighted Average Grant Date Fair Value, Ending Balance"><span style="font-size: 10pt">25.10</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
10358
25.10
7768
25.10
2590
25.10
93680
P1Y
18.19
0
429000
770000
504000
1704000
The ESPP
provides initially for 300,000 ordinary shares to be sold and increases on February 1, 2022 and on each subsequent February 1 through
and including February 1, 2030, equal to the lesser of (i) 0.25 percent of the number of ordinary shares issued and outstanding on the
immediately preceding December 31, or (ii) 100,000 ordinary shares, or (iii) such number of ordinary shares as determined by the Board
of Directors.
300000
0.85
0.85
<p id="xdx_801_eus-gaap--InterestIncomeAndInterestExpenseDisclosureTextBlock_znWB1yMT6jGc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
11 — <span id="xdx_828_zBMfKWWE1wmb">INTEREST EXPENSE, NET</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_893_eus-gaap--InterestIncomeAndInterestExpenseDisclosureTableTextBlock_zsIuAsZ7rYz1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Interest
expense, net consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_z1VPH1tYJMdg" style="display: none">SCHEDULE OF INTEREST EXPENSE, NET</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_492_20210701__20210930_zJKvmjGfBCP7" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_496_20200701__20200930_zma4xmcghzfa" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49E_20210101__20210930_z42aaT1zlBb1" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20200101__20200930_z4r1v6WdsCbg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40A_eus-gaap--InterestExpenseOther_maIEzUTl_z1Q3PnLVnOs" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span id="xdx_F46_z4ILvzpEZlLc" style="font: 10pt Times New Roman, Times, Serif">Interest expense
<sup id="xdx_F4D_zd5rvlsnAgbj">(1)</sup></span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1397">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">2</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">1</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">395</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_400_eus-gaap--InterestIncomeOther_iN_pn3n3_di_msIEzUTl_z4ZZDZ2EHDOi" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Interest income</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1402">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1403">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1404">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">(3</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt">)</span></td></tr>
<tr id="xdx_405_eus-gaap--InterestExpense_iT_pn3n3_mtIEzUTl_zDLrq5OGhg7l" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt"><span style="font-size: 10pt">Interest expense, net</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1407">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">2</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">1</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">392</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F0D_zrZKlEmFtGjb">(1)</span></td>
<td id="xdx_F11_zZYfZflLTPt6" style="width: 96%">Interest expense includes interest on a related party loan of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIElOVEVSRVNUIEVYUEVOU0UsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--InterestExpenseDebt_pn3n3_c20200101__20200930_ztdwS7vXafn3" title="Interest expense, debt">385
</span>during the nine months ended September 30, 2020. Refer to Note 16 – Related Party Transactions.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p id="xdx_8AE_zNWSth5bToC7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_893_eus-gaap--InterestIncomeAndInterestExpenseDisclosureTableTextBlock_zsIuAsZ7rYz1" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Interest
expense, net consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_z1VPH1tYJMdg" style="display: none">SCHEDULE OF INTEREST EXPENSE, NET</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_492_20210701__20210930_zJKvmjGfBCP7" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_496_20200701__20200930_zma4xmcghzfa" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49E_20210101__20210930_z42aaT1zlBb1" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20200101__20200930_z4r1v6WdsCbg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40A_eus-gaap--InterestExpenseOther_maIEzUTl_z1Q3PnLVnOs" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span id="xdx_F46_z4ILvzpEZlLc" style="font: 10pt Times New Roman, Times, Serif">Interest expense
<sup id="xdx_F4D_zd5rvlsnAgbj">(1)</sup></span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1397">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">2</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">1</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">395</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_400_eus-gaap--InterestIncomeOther_iN_pn3n3_di_msIEzUTl_z4ZZDZ2EHDOi" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Interest income</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1402">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1403">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1404">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">(3</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt">)</span></td></tr>
<tr id="xdx_405_eus-gaap--InterestExpense_iT_pn3n3_mtIEzUTl_zDLrq5OGhg7l" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt"><span style="font-size: 10pt">Interest expense, net</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1407">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">2</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">1</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">392</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F0D_zrZKlEmFtGjb">(1)</span></td>
<td id="xdx_F11_zZYfZflLTPt6" style="width: 96%">Interest expense includes interest on a related party loan of $<span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIElOVEVSRVNUIEVYUEVOU0UsIE5FVCAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90B_eus-gaap--InterestExpenseDebt_pn3n3_c20200101__20200930_ztdwS7vXafn3" title="Interest expense, debt">385
</span>during the nine months ended September 30, 2020. Refer to Note 16 – Related Party Transactions.</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
2000
1000
395000
3000
2000
1000
392000
385000
<p id="xdx_801_eus-gaap--EarningsPerShareTextBlock_znE3ewtVgUgh" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
12</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_82C_z6kaz6pUZJH4">LOSS
PER SHARE</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Loss
per share is computed by dividing net loss by the weighted average number of ordinary shares outstanding, basic and diluted, during the
period.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Potentially
dilutive securities consisting of certain stock options, nonvested restricted stock 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:</span></p>
<p id="xdx_891_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zjDjJknBJ6oe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B5_zYQw7CrgbHji" style="display: none">SCHEDULE OF ANTI-DILUTIVE STOCK EXCLUDED FROM COMPUTATION OF DILUTED EARNINGS PER SHARE</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20210701__20210930_zH3P2CiGDvI8" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20200701__20200930_z8EoWxSuSlMl" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_493_20210101__20210930_zMTXmcxIoN2l" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_499_20200101__20200930_zAr1JtmRLfU4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockOptionsMember_zgheR29anFn1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span style="font-size: 10pt">Stock options</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">4,268,981</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">3,146,059</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">4,268,981</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">3,146,059</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockMember_z4HjzEU1Ifmk" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Restricted stock awards</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1424">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">93,680</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1426">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">93,680</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zFCF3D8gLqAf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Restricted stock units</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">2,590</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1430">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">2,590</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1432">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zf8jEXmucp4i" style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">4,271,571</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">3,239,739</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">4,271,571</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">3,239,739</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p id="xdx_8A8_zLjbT0iIeVlb" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p>
<p id="xdx_891_eus-gaap--ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock_zjDjJknBJ6oe" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B5_zYQw7CrgbHji" style="display: none">SCHEDULE OF ANTI-DILUTIVE STOCK EXCLUDED FROM COMPUTATION OF DILUTED EARNINGS PER SHARE</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20210701__20210930_zH3P2CiGDvI8" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20200701__20200930_z8EoWxSuSlMl" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_493_20210101__20210930_zMTXmcxIoN2l" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_499_20200101__20200930_zAr1JtmRLfU4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_404_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--StockOptionsMember_zgheR29anFn1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span style="font-size: 10pt">Stock options</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">4,268,981</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">3,146,059</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">4,268,981</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">3,146,059</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockMember_z4HjzEU1Ifmk" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Restricted stock awards</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1424">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">93,680</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1426">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">93,680</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_402_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_hus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__us-gaap--RestrictedStockUnitsRSUMember_zFCF3D8gLqAf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Restricted stock units</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">2,590</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1430">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">2,590</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1432">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_zf8jEXmucp4i" style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">4,271,571</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">3,239,739</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">4,271,571</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">3,239,739</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
4268981
3146059
4268981
3146059
93680
93680
2590
2590
4271571
3239739
4271571
3239739
<p id="xdx_80D_eus-gaap--RevenueFromContractWithCustomerTextBlock_z7Vd6WI2zvbc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
13</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_822_z7bn46dnCnoj">REVENUE</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p>
<p id="xdx_896_eus-gaap--DisaggregationOfRevenueTableTextBlock_znq4kyLUZsS2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
following table reflects revenue recognized for the three and nine months ended September 30, 2021 and 2020 in line with the timing of
transfer of services:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span><span id="xdx_8B6_zqEHP7beSHa5" style="display: none">SCHEDULE OF REVENUE RECOGNIZED IN LINE WITH THE TIMING OF TRANSFER OF SERVICES</span></span><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_490_20210701__20210930_zOlz7IMOyzM9" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_493_20200701__20200930_zLtHKtulXhE4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_495_20210101__20210930_zMhQOXb4QoRg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49D_20200101__20200930_zXp9aHxCrcY4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zoCD21IAsSm1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span style="font-size: 10pt">Revenue from services delivered at a point in time<span id="xdx_F4A_zTptJCEV1tQ3"><sup>(1)</sup></span></span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">22,621</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">788</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">64,030</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">888</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zGcUWY80pyK9" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Revenue from services delivered over time</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">9,647</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">9,478</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">29,706</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">25,371</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zM6nyC3rdjcf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">32,268</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">10,266</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">93,736</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">26,259</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p id="xdx_8AE_z7kuKgncCAEg" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-size: 10pt"/></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the three months ended September 30, 2021, revenues recognized at a point in time was $<span id="xdx_901_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210701__20210930__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zsgv45fJEvlf">22,621</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of which $<span id="xdx_90A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210701__20210930__srt--ProductOrServiceAxis__custom--GamingRevenueMember__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zLIruS1Xy7d3">21,093
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">related to gaming revenues and $<span id="xdx_905_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_pn3n3">1,528
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">related to development services and other
revenues. During the nine months ended September 30, 2021, revenues recognized at a point in time was $<span id="xdx_900_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210101__20210930__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zlfjyo7PjIxi" title="Revenue">64,030</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of which $<span id="xdx_909_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210101__20210930__srt--ProductOrServiceAxis__custom--GamingRevenueMember__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zJzLtbxBuID">59,387
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">related to gaming revenues and $<span id="xdx_90B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_pn3n3">4,643
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">related to development services and other
revenues. Revenues recognized at a point in time during the three and nine months ended September 30, 2020 were related to development
services and other revenues.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the three months ended September 30, 2021 and 2020, one customer in the B2B segment generated revenue of $<span id="xdx_903_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3">4,747
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20200701__20200930__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_z5Y9pk2EOBxf">3,818
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and represented <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_c20210701__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zh9hG6OFZ4d">14.7%
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_c20200701__20200930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zbBfqLHdjKkk">37.2%
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of total revenues, respectively. During the nine
months ended September 30, 2021 and 2020, one customer in the B2B segment generated revenue of $<span id="xdx_903_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20210101__20210930__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zeonnAPzRm2c" title="Revenue">12,661
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and $<span id="xdx_90B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20200101__20200930__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zjrOeyRdHPKg" title="Revenue">11,826</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
and represented <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_c20210101__20210930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zLUJeXwKKb9b" title="Concentration risk, percentage">13.5%
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_c20200101__20200930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zp5kPmUMwx3h" title="Concentration risk, percentage">45.0%
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of total revenues, respectively.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Contract
and Contract-Related Liabilities</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 contributed to jackpots. Contract-related
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 in the condensed consolidated balance sheets.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_898_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_z7azc6qU30z5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
following table reflects contract liabilities arising from cash consideration received in advance from customers for the periods presented:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B3_zzexRMvfHp41" style="display: none">SCHEDULE OF CONTRACT WITH CUSTOMERS</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20210701__20210930_zVQ9c8b8thmh" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49E_20200701__20200930_zSCrTxHovSy2" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_497_20210101__20210930_zjDBEI0kgXv4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_497_20200101__20200930_zLFNauDDmXhf" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_40D_eus-gaap--ContractWithCustomerLiability_iS_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span style="font-size: 10pt">Contract liabilities from advance customer payments, beginning
of the period</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">1,811</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">1,865</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">1,083</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">3,023</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40B_eus-gaap--ContractWithCustomerLiability_iE_pn3n3_zRcEBh886VW8" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Contract liabilities from advance customer payments, end of the period</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,808</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,561</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,808</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,561</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_409_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn3n3_zm1C0UqLctc4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Revenue recognized from amounts included in contract liabilities from
advance customer payments at the beginning of the period</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">179</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,187</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">121</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">2,201</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p id="xdx_8A9_z01OrwC8pDPh" style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
September 30, 2021, the Company recorded contract liabilities from advance customer payments of $<span id="xdx_909_eus-gaap--ContractWithCustomerLiabilityCurrent_iI_pn3n3_c20210930_zARpQouwtPD5" title="Other current liabilities">740</span> and $<span id="xdx_90B_eus-gaap--ContractWithCustomerLiabilityNoncurrent_iI_pn3n3_c20210930_zwPbr0nz8617" title="Other liabilities">1,068</span> in Other current
liabilities and Other liabilities, respectively, in the condensed consolidated balance sheet.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-right: 0pt; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p>
<p id="xdx_896_eus-gaap--DisaggregationOfRevenueTableTextBlock_znq4kyLUZsS2" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
following table reflects revenue recognized for the three and nine months ended September 30, 2021 and 2020 in line with the timing of
transfer of services:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span><span id="xdx_8B6_zqEHP7beSHa5" style="display: none">SCHEDULE OF REVENUE RECOGNIZED IN LINE WITH THE TIMING OF TRANSFER OF SERVICES</span></span><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_490_20210701__20210930_zOlz7IMOyzM9" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_493_20200701__20200930_zLtHKtulXhE4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_495_20210101__20210930_zMhQOXb4QoRg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49D_20200101__20200930_zXp9aHxCrcY4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_401_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_zoCD21IAsSm1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span style="font-size: 10pt">Revenue from services delivered at a point in time<span id="xdx_F4A_zTptJCEV1tQ3"><sup>(1)</sup></span></span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">22,621</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">788</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">64,030</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">888</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zGcUWY80pyK9" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Revenue from services delivered over time</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">9,647</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">9,478</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">29,706</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">25,371</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_407_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zM6nyC3rdjcf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">32,268</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">10,266</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">93,736</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">26,259</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
22621000
788000
64030000
888000
9647000
9478000
29706000
25371000
32268000
10266000
93736000
26259000
22621000
21093000
1528000
64030000
59387000
4643000
4747000
3818000
0.147
0.372
12661000
11826000
0.135
0.450
<p id="xdx_898_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_z7azc6qU30z5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
following table reflects contract liabilities arising from cash consideration received in advance from customers for the periods presented:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B3_zzexRMvfHp41" style="display: none">SCHEDULE OF CONTRACT WITH CUSTOMERS</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20210701__20210930_zVQ9c8b8thmh" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49E_20200701__20200930_zSCrTxHovSy2" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_497_20210101__20210930_zjDBEI0kgXv4" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_497_20200101__20200930_zLFNauDDmXhf" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font: normal 10pt Times New Roman, Times, Serif"><i>(Restated)</i></span></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_40D_eus-gaap--ContractWithCustomerLiability_iS_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span style="font-size: 10pt">Contract liabilities from advance customer payments, beginning
of the period</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">1,811</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">1,865</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">1,083</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">3,023</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40B_eus-gaap--ContractWithCustomerLiability_iE_pn3n3_zRcEBh886VW8" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Contract liabilities from advance customer payments, end of the period</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,808</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,561</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,808</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,561</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_409_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn3n3_zm1C0UqLctc4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Revenue recognized from amounts included in contract liabilities from
advance customer payments at the beginning of the period</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">179</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,187</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">121</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">2,201</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
1811000
1865000
1083000
3023000
1808000
1561000
1808000
1561000
179000
1187000
121000
2201000
740000
1068000
<p id="xdx_804_eus-gaap--SegmentReportingDisclosureTextBlock_zW7jK0l8T198" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
14</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_82D_zLFQy1dzNZz8">SEGMENT
REPORTING</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Effective
January 1, 2021, the Company completed the acquisition of Coolbet (Note 5), which caused the composition of its reportable segments
to change. Accordingly, the Company implemented a segment reorganization to align its segment reporting with its revised operating structure.
The Company’s new reportable segments are B2B and B2C. The B2B 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. The B2C segment includes the operations of Coolbet since the date of acquisition. Coolbet
develops and operates a B2C online sports betting and casino platform that is accessible through its website in nine national markets
across Northern Europe (Estonia, Finland, Iceland, Norway and Sweden), Latin America (Chile, Ecuador and Peru) and North America (Canada).</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
segment information has been recast to conform to the reporting structure in effect after the segment reorganization that was effective
January 1, 2021. The Company has combined its previous <span id="xdx_901_eus-gaap--NumberOfReportableSegments_pid_dc_uInteger_c20190101__20191231_zE5n1dNndNp4" title="Number of segments">two</span> reportable segments, RMiG and SIM, into <span id="xdx_903_eus-gaap--NumberOfReportableSegments_pid_dc_uInteger_c20200701__20200930_zGSEj5kDY06b" title="Number of segments"><span id="xdx_907_eus-gaap--NumberOfReportableSegments_pid_dc_uInteger_c20200101__20200930_z3J9IPUYQoe6" title="Number of segments">one</span></span> reportable segment, B2B, for the
three and nine months ended September 30, 2020.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_89F_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zBC8BTV9ziA4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Summarized
financial information by reportable segments for the three and nine months ended September 30, 2021 and 2020 is as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8BD_zpd6Lv0NGinb" style="display: none">SCHEDULE OF FINANCIAL INFORMATION FOR REPORTABLE SEGMENTS</span> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20210701__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zqsKotSC1ayd" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49D_20210701__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zj0VOeXR5Hh7" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20210701__20210930_zaX2IEc6BMW3" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20200701__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zxgJeQ4GabUe" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49B_20200701__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zozlUPlYjpwl" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49C_20200701__20200930_zOlnejY2oE92" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="22" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended September 30,</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2B</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2C</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Total</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2B</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2C</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Total</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Restated)</i></span></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b style="font: italic 10pt Times New Roman, Times, Serif"><i>(Restated)</i></b></span></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr>
<tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zdcfIPSpULak" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%"><span style="font-size: 10pt">Revenue</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">11,175</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">21,093</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">32,268</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">10,266</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1512">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">10,266</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40B_eus-gaap--CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization_pn3n3_zydQTu32UmL5" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt"><span id="xdx_F46_zEX0b8BEgD65" style="font: 10pt Times New Roman, Times, Serif">Cost of revenue<sup id="xdx_F46_zp41mhpoRTi8">(1)</sup></span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">3,583</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">7,218</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">10,801</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">3,083</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1519">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">3,083</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_402_ecustom--OperatingIncomeLossExcludingDepreciationAndAmortization_pn3n3_zEQWVVTjFTsa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt"><span style="font-size: 10pt">Segment gross profit</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">7,592</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">13,875</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">21,467</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">7,183</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1526">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">7,183</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td id="xdx_F05_zy374SWIUTkd" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span id="xdx_F12_z7AydFKSYmE6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excludes depreciation
and amortization</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_493_20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zJqvC1hLYCO9" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_492_20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zFNJClr0aXma" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49C_20210101__20210930_zs5G5WIbdwMg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49B_20200101__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zoz2W75BuDF3" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_492_20200101__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zgmDq7Swmdq7" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_497_20200101__20200930_zi3b5csoz1Mj" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="22" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended September 30,</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2B</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2C</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Total</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2B</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2C</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Total</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Restated)</i></span></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Restated)</i></span></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr>
<tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_ze3KGOmo4A0c" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%"><span style="font-size: 10pt">Revenue</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right">34,349</td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">59,387</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">93,736</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">26,259</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1534">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">26,259</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40A_eus-gaap--CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization_pn3n3_zxDaBpHk8KF7" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt"><span id="xdx_F41_zgMmghq1flZj" style="font: 10pt Times New Roman, Times, Serif">Cost of revenue<sup id="xdx_F49_zAsPVa4mXcGh">(1)</sup></span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">8,632</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">21,244</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">29,876</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">6,898</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1541">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">6,898</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_405_ecustom--OperatingIncomeLossExcludingDepreciationAndAmortization_pn3n3_ze66fp2Zglae" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt"><span style="font-size: 10pt">Segment gross profit</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">25,717</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">38,143</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">63,860</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">19,361</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1548">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">19,361</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><sup id="xdx_F0E_zwmY1cwqR9v5">(1)</sup></td>
<td id="xdx_F18_zsx4HIp8cwD6" style="width: 96%">Excludes depreciation and amortization</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<p id="xdx_8AE_zio8BsYEdvh4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_89A_eus-gaap--ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_zwirlzxCUrmf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
following table presents a reconciliation of segment gross profit to consolidated loss before income taxes for the three and nine months
ended September 30, 2021 and 2020:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_zPYxeJ9Zmzpk" style="display: none">RECONCILIATION OF CONSOLIDATED SEGMENT PROFIT TO CONSOLIDATED INCOME (LOSS) BEFORE INCOME TAXES</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20210701__20210930_zMcfFZjXGLpi" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_496_20200701__20200930_z77EjWw0hxm1" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49E_20210101__20210930_zSpRrHtweZE2" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20200101__20200930_z57uutipBaqb" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td style="font-size: 12pt"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="font-size: 12pt"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="font-size: 12pt"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_405_ecustom--OperatingIncomeLossExcludingDepreciationAndAmortization_maILATPzZ3y_zYmszMxOQyTh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span id="xdx_F42_zB0PKaHemuej" style="font-size: 10pt">Segment gross profit <sup id="xdx_F48_zwve2hVKrUwe">(1)</sup></span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">21,467</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">7,183</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">63,860</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">19,361</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40D_eus-gaap--SellingAndMarketingExpense_msILATPzZ3y_zpp69tKCKh7i" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Sales and marketing</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">5,657</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,277</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">15,238</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">3,782</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_404_ecustom--ProductAndTechnologyExpense_msILATPzZ3y_z4t996VDHyrl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Product and technology</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">5,492</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,896</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">15,564</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">8,093</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_401_eus-gaap--GeneralAndAdministrativeExpense_msILATPzZ3y_zIdHAtliL9F4" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span id="xdx_F43_z2QHkTMQ5Obh" style="font-size: 10pt">General and administrative <sup id="xdx_F47_zNZVqloaMMS9">(1)</sup></span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">12,888</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">6,120</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">35,217</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">16,297</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eus-gaap--DepreciationDepletionAndAmortization_msILATPzZ3y_zsDODnKXyWQa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Depreciation and amortization</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">4,560</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">804</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">12,686</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">2,373</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_409_eus-gaap--InterestExpense_pn3n3_msILATPzZ3y_z8khpuAA0R2l" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Interest expense, net</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1579">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">2</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">1</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">392</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_404_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILATPzZ3y_zXygNLOYSkxd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; text-align: left"><span style="font-size: 10pt">Loss before income taxes</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">(7,130</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">(2,916</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">(14,846</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">(11,576</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F09_za6KmkiJ2oid">(1)</span></td>
<td id="xdx_F17_zMNBuXw8V1g6" style="width: 96%">Excludes depreciation and amortization</td></tr>
</table>
<p id="xdx_8AE_z11jp1vuaYTd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_892_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_zqjPjfGOYYE7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
following table disaggregates total revenue by product and services for each segment:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B2_zSupg3S7Gix9" style="display: none">SCHEDULE OF DISAGGREGATION OF REVENUE BY PRODUCTS AND SERVICES FOR EACH SEGMENT</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt">B2B:</span></td><td><span style="font-size: 10pt"> </span></td>
<td colspan="2"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td colspan="2"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td colspan="2"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td colspan="2"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; width: 40%; text-align: left"><span style="font-size: 10pt">Platform and content fees</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__custom--PlatformAndContentFeesMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 11%; text-align: right" title="Revenue"><span style="font-size: 10pt">8,743</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__custom--PlatformAndContentFeesMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 11%; text-align: right" title="Revenue"><span style="font-size: 10pt">6,914</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--PlatformAndContentFeesMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 11%; text-align: right" title="Revenue"><span style="font-size: 10pt">27,252</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__custom--PlatformAndContentFeesMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 11%; text-align: right" title="Revenue"><span style="font-size: 10pt">19,269</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Development services and other</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">2,432</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">3,352</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">7,097</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">6,990</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 20pt; padding-bottom: 1.5pt"><span style="font-size: 10pt">Total B2B revenue</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">11,175</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">10,266</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">34,349</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">26,259</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><span style="font-size: 10pt">B2C:</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt"><span style="font-size: 10pt">Sportsbook</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__custom--SportsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt">7,886</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__custom--SportsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1618">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--SportsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt">27,794</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__custom--SportsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1622">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt"><span style="font-size: 10pt">Casino</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__us-gaap--CasinoMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt">12,323</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__us-gaap--CasinoMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1626">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__us-gaap--CasinoMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt">29,306</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__us-gaap--CasinoMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1630">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; padding-bottom: 1.5pt"><span style="font-size: 10pt">Poker</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__custom--PokerMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">884</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__custom--PokerMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1634">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--PokerMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">2,287</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__custom--PokerMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1638">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 20pt; padding-bottom: 1.5pt"><span style="font-size: 10pt">Total B2C revenue</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">21,093</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1642">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">59,387</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1646">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 30pt; text-align: left; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total revenue</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue"><span style="font-size: 10pt">32,268</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue"><span style="font-size: 10pt">10,266</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue"><span style="font-size: 10pt">93,736</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue"><span style="font-size: 10pt">26,259</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p id="xdx_8AF_zQk48vSWo4Gd" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p id="xdx_89D_eus-gaap--ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock_zTUsSotWyBjc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Revenue
by location of the customer for the three and nine months ended September 30, 2021 and 2020 was as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B6_ze6uRgiy0x95" style="display: none">SCHEDULE OF REVENUE BY LOCATION OF THE CUSTOMER</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49C_20210701__20210930_z8pNN1H24yx3" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20200701__20200930_zKDHkmAvMywg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_498_20210101__20210930_z9OKw76pAual" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20200101__20200930_zWO7SJ9cNOXi" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center"><p style="margin: 0">(Restated)</p></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__country--US_z6m3x1CKuEA3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span style="font-size: 10pt">United States</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">9,107</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">8,662</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">28,186</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">21,957</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__srt--EuropeMember_zRMXi0CY7nic" style="vertical-align: bottom; background-color: White">
<td><span style="font-size: 10pt">Europe</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">11,598</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,594</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">36,855</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">4,272</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__srt--LatinAmericaMember_zwIFhlyA8q3i" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Latin America</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">9,854</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1669">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">23,711</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1671">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__custom--RestOfTheWorldMember_zm5B4fE4WTo7" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Rest of the world</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">1,709</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">10</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">4,984</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">30</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">32,268</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">10,266</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">93,736</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">26,259</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p id="xdx_8A2_zZS3883JMRke" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>GAN
LIMITED</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"><b>NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(in
thousands, except share and per share amounts)</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font: 10pt Times New Roman, Times, Serif"><b> </b></span></p>
2
1
1
<p id="xdx_89F_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zBC8BTV9ziA4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Summarized
financial information by reportable segments for the three and nine months ended September 30, 2021 and 2020 is as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_8BD_zpd6Lv0NGinb" style="display: none">SCHEDULE OF FINANCIAL INFORMATION FOR REPORTABLE SEGMENTS</span> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20210701__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zqsKotSC1ayd" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49D_20210701__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zj0VOeXR5Hh7" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20210701__20210930_zaX2IEc6BMW3" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20200701__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zxgJeQ4GabUe" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49B_20200701__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zozlUPlYjpwl" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49C_20200701__20200930_zOlnejY2oE92" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="22" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended September 30,</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2B</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2C</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Total</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2B</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2C</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Total</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Restated)</i></span></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b style="font: italic 10pt Times New Roman, Times, Serif"><i>(Restated)</i></b></span></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr>
<tr id="xdx_40B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_zdcfIPSpULak" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%"><span style="font-size: 10pt">Revenue</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">11,175</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">21,093</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">32,268</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">10,266</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1512">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">10,266</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40B_eus-gaap--CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization_pn3n3_zydQTu32UmL5" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt"><span id="xdx_F46_zEX0b8BEgD65" style="font: 10pt Times New Roman, Times, Serif">Cost of revenue<sup id="xdx_F46_zp41mhpoRTi8">(1)</sup></span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">3,583</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">7,218</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">10,801</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">3,083</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1519">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">3,083</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_402_ecustom--OperatingIncomeLossExcludingDepreciationAndAmortization_pn3n3_zEQWVVTjFTsa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt"><span style="font-size: 10pt">Segment gross profit</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">7,592</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">13,875</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">21,467</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">7,183</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1526">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">7,183</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify">
<td id="xdx_F05_zy374SWIUTkd" style="width: 15pt; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="width: 5pt"/><td style="text-align: justify"><span id="xdx_F12_z7AydFKSYmE6" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Excludes depreciation
and amortization</span></td>
</tr></table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_493_20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zJqvC1hLYCO9" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_492_20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zFNJClr0aXma" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49C_20210101__20210930_zs5G5WIbdwMg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49B_20200101__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_zoz2W75BuDF3" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_492_20200101__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_zgmDq7Swmdq7" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_497_20200101__20200930_zi3b5csoz1Mj" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="22" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended September 30,</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2B</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2C</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Total</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2B</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">B2C</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Total</span></td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Restated)</i></span></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Restated)</i></span></td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold"> </td></tr>
<tr id="xdx_40A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_ze3KGOmo4A0c" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%"><span style="font-size: 10pt">Revenue</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right">34,349</td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">59,387</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">93,736</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">26,259</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1534">—</span></span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 6%; text-align: right"><span style="font-size: 10pt">26,259</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40A_eus-gaap--CostOfGoodsAndServiceExcludingDepreciationDepletionAndAmortization_pn3n3_zxDaBpHk8KF7" style="vertical-align: bottom; background-color: White">
<td style="padding-bottom: 1.5pt"><span id="xdx_F41_zgMmghq1flZj" style="font: 10pt Times New Roman, Times, Serif">Cost of revenue<sup id="xdx_F49_zAsPVa4mXcGh">(1)</sup></span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">8,632</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">21,244</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">29,876</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">6,898</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1541">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">6,898</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_405_ecustom--OperatingIncomeLossExcludingDepreciationAndAmortization_pn3n3_ze66fp2Zglae" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 2.5pt"><span style="font-size: 10pt">Segment gross profit</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">25,717</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">38,143</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">63,860</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">19,361</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1548">—</span></span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">19,361</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><sup> </sup></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><sup id="xdx_F0E_zwmY1cwqR9v5">(1)</sup></td>
<td id="xdx_F18_zsx4HIp8cwD6" style="width: 96%">Excludes depreciation and amortization</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"/></p>
11175000
21093000
32268000
10266000
10266000
3583000
7218000
10801000
3083000
3083000
7592000
13875000
21467000
7183000
7183000
34349000
59387000
93736000
26259000
26259000
8632000
21244000
29876000
6898000
6898000
25717000
38143000
63860000
19361000
19361000
<p id="xdx_89A_eus-gaap--ReconciliationOfOperatingProfitLossFromSegmentsToConsolidatedTextBlock_zwirlzxCUrmf" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
following table presents a reconciliation of segment gross profit to consolidated loss before income taxes for the three and nine months
ended September 30, 2021 and 2020:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B4_zPYxeJ9Zmzpk" style="display: none">RECONCILIATION OF CONSOLIDATED SEGMENT PROFIT TO CONSOLIDATED INCOME (LOSS) BEFORE INCOME TAXES</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20210701__20210930_zMcfFZjXGLpi" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_496_20200701__20200930_z77EjWw0hxm1" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49E_20210101__20210930_zSpRrHtweZE2" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20200101__20200930_z57uutipBaqb" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td style="font-size: 12pt"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="font-size: 12pt"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="font-size: 12pt"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_405_ecustom--OperatingIncomeLossExcludingDepreciationAndAmortization_maILATPzZ3y_zYmszMxOQyTh" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span id="xdx_F42_zB0PKaHemuej" style="font-size: 10pt">Segment gross profit <sup id="xdx_F48_zwve2hVKrUwe">(1)</sup></span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">21,467</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">7,183</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">63,860</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">19,361</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40D_eus-gaap--SellingAndMarketingExpense_msILATPzZ3y_zpp69tKCKh7i" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Sales and marketing</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">5,657</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,277</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">15,238</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">3,782</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_404_ecustom--ProductAndTechnologyExpense_msILATPzZ3y_z4t996VDHyrl" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Product and technology</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">5,492</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,896</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">15,564</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">8,093</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_401_eus-gaap--GeneralAndAdministrativeExpense_msILATPzZ3y_zIdHAtliL9F4" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span id="xdx_F43_z2QHkTMQ5Obh" style="font-size: 10pt">General and administrative <sup id="xdx_F47_zNZVqloaMMS9">(1)</sup></span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">12,888</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">6,120</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">35,217</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">16,297</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eus-gaap--DepreciationDepletionAndAmortization_msILATPzZ3y_zsDODnKXyWQa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Depreciation and amortization</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">4,560</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">804</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">12,686</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">2,373</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_409_eus-gaap--InterestExpense_pn3n3_msILATPzZ3y_z8khpuAA0R2l" style="vertical-align: bottom; background-color: White">
<td style="text-align: left"><span style="font-size: 10pt">Interest expense, net</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1579">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">2</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">1</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">392</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_404_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_iT_pn3n3_mtILATPzZ3y_zXygNLOYSkxd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; text-align: left"><span style="font-size: 10pt">Loss before income taxes</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">(7,130</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">(2,916</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">(14,846</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">(11,576</span></td><td style="text-align: left"><span style="font-size: 10pt">)</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"/><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: top; text-align: left">
<td style="width: 4%"><span id="xdx_F09_za6KmkiJ2oid">(1)</span></td>
<td id="xdx_F17_zMNBuXw8V1g6" style="width: 96%">Excludes depreciation and amortization</td></tr>
</table>
21467000
7183000
63860000
19361000
5657000
1277000
15238000
3782000
5492000
1896000
15564000
8093000
12888000
6120000
35217000
16297000
4560000
804000
12686000
2373000
2000
1000
392000
-7130000
-2916000
-14846000
-11576000
<p id="xdx_892_eus-gaap--ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock_zqjPjfGOYYE7" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
following table disaggregates total revenue by product and services for each segment:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B2_zSupg3S7Gix9" style="display: none">SCHEDULE OF DISAGGREGATION OF REVENUE BY PRODUCTS AND SERVICES FOR EACH SEGMENT</span></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt">B2B:</span></td><td><span style="font-size: 10pt"> </span></td>
<td colspan="2"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td colspan="2"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td colspan="2"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td colspan="2"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; width: 40%; text-align: left"><span style="font-size: 10pt">Platform and content fees</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__custom--PlatformAndContentFeesMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 11%; text-align: right" title="Revenue"><span style="font-size: 10pt">8,743</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__custom--PlatformAndContentFeesMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 11%; text-align: right" title="Revenue"><span style="font-size: 10pt">6,914</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--PlatformAndContentFeesMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 11%; text-align: right" title="Revenue"><span style="font-size: 10pt">27,252</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__custom--PlatformAndContentFeesMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="width: 11%; text-align: right" title="Revenue"><span style="font-size: 10pt">19,269</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Development services and other</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">2,432</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">3,352</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">7,097</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98A_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__custom--DevelopmentServicesAndOtherMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">6,990</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 20pt; padding-bottom: 1.5pt"><span style="font-size: 10pt">Total B2B revenue</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">11,175</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">10,266</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">34,349</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToBusinessB2BMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">26,259</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td><span style="font-size: 10pt">B2C:</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt"><span style="font-size: 10pt">Sportsbook</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__custom--SportsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt">7,886</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__custom--SportsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1618">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--SportsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt">27,794</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__custom--SportsMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1622">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt"><span style="font-size: 10pt">Casino</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__us-gaap--CasinoMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt">12,323</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__us-gaap--CasinoMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1626">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_986_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__us-gaap--CasinoMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt">29,306</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__us-gaap--CasinoMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1630">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 10pt; padding-bottom: 1.5pt"><span style="font-size: 10pt">Poker</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__srt--ProductOrServiceAxis__custom--PokerMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">884</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98B_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__srt--ProductOrServiceAxis__custom--PokerMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1634">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__srt--ProductOrServiceAxis__custom--PokerMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">2,287</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__srt--ProductOrServiceAxis__custom--PokerMember__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1638">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 20pt; padding-bottom: 1.5pt"><span style="font-size: 10pt">Total B2C revenue</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">21,093</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_981_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1642">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt">59,387</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930__us-gaap--StatementBusinessSegmentsAxis__custom--BusinessToConsumerSegmentB2CMember_pn3n3" style="border-bottom: Black 1pt solid; text-align: right" title="Revenue"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1646">—</span></span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding-left: 30pt; text-align: left; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total revenue</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210701__20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue"><span style="font-size: 10pt">32,268</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200701__20200930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue"><span style="font-size: 10pt">10,266</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20210101__20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue"><span style="font-size: 10pt">93,736</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_982_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20200101__20200930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Revenue"><span style="font-size: 10pt">26,259</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
8743000
6914000
27252000
19269000
2432000
3352000
7097000
6990000
11175000
10266000
34349000
26259000
7886000
27794000
12323000
29306000
884000
2287000
21093000
59387000
32268000
10266000
93736000
26259000
<p id="xdx_89D_eus-gaap--ScheduleOfRevenueFromExternalCustomersAttributedToForeignCountriesByGeographicAreaTextBlock_zTUsSotWyBjc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">Revenue
by location of the customer for the three and nine months ended September 30, 2021 and 2020 was as follows:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B6_ze6uRgiy0x95" style="display: none">SCHEDULE OF REVENUE BY LOCATION OF THE CUSTOMER</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="display: none; vertical-align: bottom; background-color: White">
<td style="display: none"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49C_20210701__20210930_z8pNN1H24yx3" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_49A_20200701__20200930_zKDHkmAvMywg" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_498_20210101__20210930_z9OKw76pAual" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td><td style="display: none"> </td>
<td style="display: none; text-align: left"> </td><td id="xdx_494_20200101__20200930_zWO7SJ9cNOXi" style="display: none; text-align: right"> </td><td style="display: none; text-align: left"> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center"><p style="margin: 0">(Restated)</p></td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font: italic 10pt Times New Roman, Times, Serif; text-align: center">(Restated)</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr>
<tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__country--US_z6m3x1CKuEA3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 40%; text-align: left"><span style="font-size: 10pt">United States</span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">9,107</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">8,662</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">28,186</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%"><span style="font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="width: 11%; text-align: right"><span style="font-size: 10pt">21,957</span></td><td style="width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__srt--EuropeMember_zRMXi0CY7nic" style="vertical-align: bottom; background-color: White">
<td><span style="font-size: 10pt">Europe</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">11,598</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">1,594</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">36,855</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">4,272</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_408_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__srt--LatinAmericaMember_zwIFhlyA8q3i" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Latin America</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">9,854</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1669">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt">23,711</span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1671">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40F_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--StatementGeographicalAxis__custom--RestOfTheWorldMember_zm5B4fE4WTo7" style="vertical-align: bottom; background-color: White">
<td style="text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Rest of the world</span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">1,709</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">10</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">4,984</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-size: 10pt">30</span></td><td style="padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_i_pn3n3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">32,268</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">10,266</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">93,736</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-size: 10pt">26,259</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
9107000
8662000
28186000
21957000
11598000
1594000
36855000
4272000
9854000
23711000
1709000
10000
4984000
30000
32268000
10266000
93736000
26259000
<p id="xdx_806_eus-gaap--IncomeTaxDisclosureTextBlock_zCq2Ee4D5HOa" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
15</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_826_zKXBIE5ks0mh">INCOME
TAXES</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p id="xdx_897_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zbYn5J0fKEO4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
provision for income taxes for the three and nine months ended September 30, 2021 and 2020 consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B0_zflRWtRSElae" style="display: none">SCHEDULE OF INCOME TAX PROVISION</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Domestic (Bermuda)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210701__20210930__srt--StatementGeographicalAxis__country--BM_pn3n3" style="text-align: right" title="Provision for income taxes"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1687">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98A_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200701__20200930__srt--StatementGeographicalAxis__country--BM_pn3n3" style="text-align: right" title="Provision for income taxes"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1689">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210101__20210930__srt--StatementGeographicalAxis__country--BM_pn3n3" style="text-align: right" title="Provision for income taxes"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1691">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98C_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200101__20200930__srt--StatementGeographicalAxis__country--BM_pn3n3" style="text-align: right" title="Provision for income taxes"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1693">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 40%; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Foreign (Non-Bermuda)</span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210701__20210930__srt--StatementGeographicalAxis__custom--OtherTaxLocalitiesMember_pn3n3" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">1,548</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200701__20200930__srt--StatementGeographicalAxis__custom--OtherTaxLocalitiesMember_pn3n3" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">(3</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt">)</span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210101__20210930__srt--StatementGeographicalAxis__custom--OtherTaxLocalitiesMember_pn3n3" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">3,201</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200101__20200930__srt--StatementGeographicalAxis__custom--OtherTaxLocalitiesMember_pn3n3" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">312</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210701__20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">1,548</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_982_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200701__20200930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">(3</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210101__20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">3,201</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98C_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200101__20200930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">312</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<p id="xdx_8A4_zE6PD40fk1Ek" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company’s effective income tax rate was <span id="xdx_902_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_c20210701__20210930_z1nWPFePKKr3">(21.7)%
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_905_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_c20200701__20200930_zVuwudb53XE4">0.1%
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the three months ended September 30, 2021
and 2020, respectively, and <span id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_c20210101__20210930_zYGYLptlwGll">(21.6)%
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">and <span id="xdx_900_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_c20200101__20200930_zrwR0qd5edv8">(2.7)%
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">for the nine months ended September 30, 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
difference between the statutory tax rate of <span id="xdx_90E_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_c20210701__20210930__srt--StatementGeographicalAxis__country--BM__us-gaap--IncomeTaxAuthorityAxis__us-gaap--ForeignCountryMember_zbgBI2iYF7Hg" title="Effective income tax rate"><span id="xdx_903_eus-gaap--EffectiveIncomeTaxRateContinuingOperations_pid_c20210101__20210930__srt--StatementGeographicalAxis__country--BM__us-gaap--IncomeTaxAuthorityAxis__us-gaap--ForeignCountryMember_zXhcfJJIj4l2" title="Effective income tax rate">0%</span></span> in Bermuda, the Company’s country of domicile, and the effective income tax rate
for the three and nine months ended September 30, 2021 was due primarily to a mix of earnings in foreign jurisdictions that are subject
to current tax.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p id="xdx_897_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zbYn5J0fKEO4" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
provision for income taxes for the three and nine months ended September 30, 2021 and 2020 consisted of the following:</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> <span id="xdx_8B0_zflRWtRSElae" style="display: none">SCHEDULE OF INCOME TAX PROVISION</span></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"/>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Three
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">Nine
Months Ended<br/> September 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><span style="font-size: 10pt">2020</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-size: 10pt">Domestic (Bermuda)</span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210701__20210930__srt--StatementGeographicalAxis__country--BM_pn3n3" style="text-align: right" title="Provision for income taxes"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1687">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98A_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200701__20200930__srt--StatementGeographicalAxis__country--BM_pn3n3" style="text-align: right" title="Provision for income taxes"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1689">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210101__20210930__srt--StatementGeographicalAxis__country--BM_pn3n3" style="text-align: right" title="Provision for income taxes"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1691">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td><td><span style="font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98C_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200101__20200930__srt--StatementGeographicalAxis__country--BM_pn3n3" style="text-align: right" title="Provision for income taxes"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl1693">—</span></span></td><td style="text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="width: 40%; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Foreign (Non-Bermuda)</span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_98E_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210701__20210930__srt--StatementGeographicalAxis__custom--OtherTaxLocalitiesMember_pn3n3" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">1,548</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_983_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200701__20200930__srt--StatementGeographicalAxis__custom--OtherTaxLocalitiesMember_pn3n3" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">(3</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt">)</span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_987_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210101__20210930__srt--StatementGeographicalAxis__custom--OtherTaxLocalitiesMember_pn3n3" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">3,201</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="width: 2%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td id="xdx_985_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200101__20200930__srt--StatementGeographicalAxis__custom--OtherTaxLocalitiesMember_pn3n3" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">312</span></td><td style="width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 10pt; padding-bottom: 2.5pt"><span style="font-size: 10pt">Total</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_984_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210701__20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">1,548</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_982_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200701__20200930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">(3</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt">)</span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98E_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20210101__20210930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">3,201</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">$</span></td><td id="xdx_98C_eus-gaap--CurrentIncomeTaxExpenseBenefit_c20200101__20200930_pn3n3" style="border-bottom: Black 2.5pt double; text-align: right" title="Provision for income taxes"><span style="font-size: 10pt">312</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
1548000
-3000
3201000
312000
1548000
-3000
3201000
312000
-0.217
0.001
-0.216
-0.027
0
0
<p id="xdx_804_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zJkeJIu0Qqq" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
16 — <span id="xdx_827_zd3Rtq0puc4g">RELATED PARTY TRANSACTIONS</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the Share Exchange and Reorganization disclosed in Note 3, the Company arranged funding of the cash consideration
of the Share Exchange through a loan facility provided by the Parent’s chief executive officer and his father. The loan facility
provided for a minimum interest charge of £<span id="xdx_90F_eus-gaap--InterestExpenseRelatedParty_pn3n3_uPound_c20200501__20200531__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_zhkscJEvxLSk" title="Interest expense, related party">300</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">,
and any funds borrowed thereunder would have been unsecured and borne interest at <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_pid_c20200531__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_zJgG9OBryhG7" title="Interest rate">15%
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">per annum. Such facility was available for a
term of six months. Ultimately, the facility was not used, and the cash consideration of the Share Exchange was paid from the Company’s
operating cash. The minimum interest charge of $<span id="xdx_907_eus-gaap--InterestExpenseRelatedParty_pn3n3_uUSD_c20200501__20200531__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_z3jrzgnOzbq9" title="Interest expense, related party">385
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(or £<span id="xdx_909_eus-gaap--InterestExpenseRelatedParty_pn3n3_uPound_c20200501__20200531__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__srt--ChiefExecutiveOfficerMember_zZmCH4jozkjf" title="Interest expense, related party">300</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">)
was paid in May 2020 and recorded in Interest expense, net, in the condensed consolidated statement of operations during the nine months
ended September 30, 2020.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
300000
0.15
385000
300000
<p id="xdx_804_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zQ8bDzC40rPc" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE
17</b></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> — <span id="xdx_822_zX48ekfUtfRa">COMMITMENTS
AND CONTINGENCIES</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Legal
Proceedings</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"><b><i> </i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
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 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.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><i>Content
Licensing Agreements</i></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">In
the second quarter of 2021, the Company entered into Content Licensing Agreements (the “Agreements”) with <span id="xdx_908_ecustom--ContractualObligationNumberOfGamingManufacturers_pid_dc_uInteger_c20210401__20210630_zD3bCuJUNob3" title="Contractual obligation, number of gaming manufacturers">two </span></span><span style="font: 10pt Times New Roman, Times, Serif">third-party gambling content providers (“Content
Providers”) specializing in developing and licensing interactive games. The Agreements grant the Company exclusive rights to
use and distribute the online gaming content in North America. Each of the Content Providers is committed to developing a minimum
number of games for the Company’s exclusive use over the <span id="xdx_90F_ecustom--ContractualObligationTerm_dtYxL_c20210401__20210630_zRGhSn4duIQa" title="Contractual obligation, term::XDX::5"><span style="-sec-ix-hidden: xdx2ixbrl1733">five</span></span></span><span style="font: 10pt Times New Roman, Times, Serif">-year
term, subject to extensions, of the respective Agreement. In exchange, the Company is required to pay fixed fees, totaling $<span id="xdx_907_ecustom--PaymentOfContractualObligation_pn5n6_c20210401__20210630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicensingAgreementsMember_zFKNxQn2dDpe" title="Payment of contractual obligation">48.5
</span></span><span style="font: 10pt Times New Roman, Times, Serif">million, of which $<span id="xdx_905_ecustom--PaymentOfContractualObligation_pn5n6_c20210401__20210630__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--LicensingAgreementsMember__srt--StatementScenarioAxis__custom--ExecutionMember_zDfzqkTuOIb4" title="Payment of contractual obligation">8.5
</span></span><span style="font: 10pt Times New Roman, Times, Serif">million were due upon execution of the Agreements,
and the remaining fixed fees are paid systematically over the initial five-year terms. Additional payments could be required if the Company’s
total revenue generated from the licensed content exceed certain stipulated thresholds. Under the terms of the Agreements, the Content
Providers are to remit the cash flows from the online gambling content with its existing customers to the Company during the exclusivity
period.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Agreements provide that the games software will reside and be deployed from the suppliers’ remote gaming servers. Although the
Company could run the games software on its platform, the Company does not have the contractual right to take possession of the software
and ownership of the software does not transfer to the Company. The Company is accounting for the respective hosting arrangements as
service contracts. The Company expects to have access to the available gaming content on the remote gaming servers in the
fourth quarter of 2021. Total fixed service fees under the Agreements, net of payments received from the Content Providers,
will be expensed ratably over the term of the Agreements commencing upon initial access to the remote gaming servers. Any variable
payments required upon reaching certain revenue milestones to the Content Providers will be expensed in the period incurred.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">As
of September 30, 2021, the Company has recorded prepaid service fees of $<span id="xdx_901_eus-gaap--OtherAssets_iI_pn5n6_c20210930__us-gaap--IncomeStatementLocationAxis__custom--ServiceFeesMember_zbaEkVXp2HB7" title="Other assets">8.5
</span></span><span style="font: 10pt Times New Roman, Times, Serif">million in Other assets in the condensed consolidated
balance sheet.</span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif"> </span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify; text-indent: 0.25in"><span style="font: 10pt Times New Roman, Times, Serif">The
Company expects to make fixed payments of $<span id="xdx_903_eus-gaap--ContractualObligationFutureMinimumPaymentsDueRemainderOfFiscalYear_iI_pn5n6_c20210930_zoCmO8CKOsWb" title="Payment to be made fourth quarter 2021">8.0</span> million in the fourth quarter of 2021 and $<span id="xdx_90A_eus-gaap--ContractualObligationDueInNextTwelveMonths_iI_pn5n6_c20210930_zzO5tPAKXsx9" title="Payment to be made 2022"><span id="xdx_900_eus-gaap--ContractualObligationDueInSecondYear_iI_pn5n6_c20210930_zyDy4QIEKlL8" title="Payment to be made 2023"><span id="xdx_905_eus-gaap--ContractualObligationDueInThirdYear_iI_pn5n6_c20210930_zfZbNJxh3jrf" title="Payment to be made 2024"><span id="xdx_905_eus-gaap--ContractualObligationDueInFourthYear_iI_pn5n6_c20210930_zOHG1zwYdnZ3" title="Payment to be made 2025">8.0</span></span></span></span> million in each of the years 2022 through
2025.</span></p>
2
48500000
8500000
8500000
8000000.0
8000000.0
8000000.0
8000000.0
8000000.0