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Raketech Announces Q1 2024 Results
Raketech has announced its Q1 2024 financial results.
Q1 2024 Financial Highlights
- Revenues in Q1 of 2024 totaled EUR 19.0 million (EUR 15.8 million), reflecting an organic growth increase of 20.1% (24.4%), driven by continued strong performance from sub-affiliation partially offset by weaker-than-expected results within affiliation marketing.
- EBITDA, adjusted for restructuring costs, was EUR 5.1 million (EUR 6.1 million), impacted by a weaker performance in Sweden compared to the previous year and soft performance of the Casumba assets following the Google Core update during the quarter. Other regions and products performed well, with sub-affiliation delivering a strong quarter in terms of EBITDA contribution.
- Operating profit, adjusted for costs related to re-structuring, amounted to EUR 2.0 million (EUR 3.8 million).
- Free cash flow before earnouts increased to EUR 6.5 million (EUR 5.6 million) with a positive working capital development from trade receivables.
- Earnouts settled during the quarter amounted to EUR 13.0 million.
Full-Year Outlook
Current trading, including April, implies an adjusted EBITDA of around EUR 20.0 million for the full year. Free cash flow before earnouts for the full year is estimated to come in just below adjusted EBITDA.
Subsequent Events After the End of the Period
On May 14, 2024, the board decided to withdraw its previously announced proposal to distribute dividends in 2024, in line with its commitment to maintaining financial flexibility and supporting the company’s long term growth ambitions. The primary focus is delivering value to shareholders and continuing to evaluate opportunities to enhance shareholder returns in a way that aligns with the Company’s long-term value-creation objectives.
Current Trading
Revenues in April 2024 amounted to EUR 5.9 million (EUR 5.9 million).
Raketech Acting CEO Johan Svensson said: “In the first quarter of 2024, we delivered EUR 19.0 million in revenues, representing an organic increase of 20.1%, primarily driven by Sub-affiliation. Adjusted EBITDA came in at EUR 5.1 million, while EBITDA was EUR 4.3 million, consistent with our trading update published on 1 May. We remain confident in our market-leading product offerings and see promising growth opportunities through our strategic initiatives in sports offerings, exclusive partnerships, and media deals. These efforts will position us well for continued growth in the coming years, and we remain committed to maximizing shareholder value.”
The post Raketech Announces Q1 2024 Results appeared first on European Gaming Industry News.
BLAST
Fortnite Championship Series Major 1 Summit heads to Düsseldorf for the first time
Epic Games and BLAST have today announced that the first Fortnite Championship Series (FNCS) LAN of the year is heading to Düsseldorf, Germany for the very first time.
The Fortnite Major 1 Summit will take place live inside the PSD Bank Dome on May 30 and 31, 2026. In the heart of Western Germany, Fortnite will take over the state-of-the-art PSD Bank Dome Arena, home of the Düsseldorfer EG hockey team, for two days of thrilling Fortnite action.
The top duos from all seven regions will battle live to be crowned Fortnite Major 1 Summit champions, take home a share of the $1,000,000 prize pool, and secure a spot at the Fortnite Global Championship later this year.
As one of Europe’s largest gaming markets and a frequent host of international esports tournaments, Germany has long played a central role in the global competitive scene. Located in the country’s most populous state and one of its most connected regions, Düsseldorf provides a fitting backdrop for the first FNCS LAN of the competitive season.
Tickets go on general sale March 2 at 4 AM ET / 10 AM CET on Eventim. More ticket information can be found here: Eventim Fortnite Major 1 Summit
The post Fortnite Championship Series Major 1 Summit heads to Düsseldorf for the first time appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Alex Green Vice President Games at ZEAL
Wunderino Adds ZEAL’s Premium Slots as Partnership Kicks Off
ZEAL Instant Games, part of the ZEAL Group and an online gaming provider, has initiated a new partnership with Wunderino, a prominent online slot brand in Germany. As a part of the collaboration, Wunderino is enhancing its entertainment portfolio with a forthcoming increasing range of ZEAL slots. The initial titles are now active and accessible to players on Wunderino.de.
Increased diversity for gamers – enhanced exposure for premium titles.
The new collaboration brings evident benefits for both firms: Wunderino is boosting its online gaming selection with ZEAL content, further solidifying its status as an innovation-focused provider in the German iGaming sector. Simultaneously, ZEAL Instant Games leverages Wunderino’s robust brand visibility and influence, reaching new audiences.
At launch, well-known titles like “The Bookmaker,” “Treasure Volcano,” and “Vegas Blaze” are included in the first batch of games already offered. The objective is to enhance the portfolio by adding more new games in the upcoming months.
Comments regarding the partnership
“With Wunderino, we are gaining a partner that has stood for entertainment, dynamism, and a strong brand identity for many years,” says Alex Green, Vice President Games at ZEAL. “Integrating our titles into one of the most popular platforms in Germany is another important step in making our portfolio accessible to even more players and driving our strategic expansion.”
Wunderino adds: “ZEAL Instant Games stands for creative content, high quality, and reliable performance – all values that perfectly match our brand,” says Susanne Forsman, Group Chief Gaming Officer at Wunderino. “The new ZEAL slots will help enrich our offerings and provide our users with additional exciting experiences. We are very excited about the joint launch and what lies ahead.”
The post Wunderino Adds ZEAL’s Premium Slots as Partnership Kicks Off appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Hubster AI
Vegangster’s Hubster AI Enables Brands to Launch Without a Single Support Ticket
Vegangster has introduced Hubster AI, a built-in conversational assistant designed to simplify platform setup and daily operations for operators. The tool allows clients to ask practical questions about platform features and receive instant, structured, step-by-step guidance.
Unlike traditional support models that rely on account manager availability and ticket queues, Hubster AI operates 24/7 and supports all major languages. Operators can configure features, adjust settings, and navigate workflows independently—without waiting for working hours.
Hubster AI provides detailed operational guidance across the entire platform, including:
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Player Account Management
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Bonus and promotion setup
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Game and lobby management
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CRM workflows
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CMS and content updates
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Reporting and analytics
Each response delivers clear instructions and, where relevant, direct access to pre-recorded video walkthroughs demonstrating the exact process.
Several brands have already completed onboarding and platform configuration without submitting setup tickets, relying entirely on Hubster AI for operational guidance.
“My idea is to make complex things simple,” said Tatjana Danevica, Product Operations Specialist at Vegangster. “Operators should not deeply need technical expertise or constant support interaction to launch and manage a brand. Hubster AI turns platform knowledge into an always-available guide, removing friction and allowing teams to move.”
Hubster AI forms part of Vegangster’s broader strategy to eliminate the skill barrier in iGaming by turning complex platform knowledge into instant, practical guidance operators can use in real time.
About Vegangster
Vegangster provides a full-stack iGaming platform engineered for speed, scalability, and operator control. Its turnkey and white-label solutions integrate casino content, payments, CRM, compliance, and engagement tools into a single mobile-first system.
Press Contact
Romans Kozlovskis
[email protected]
The post Vegangster’s Hubster AI Enables Brands to Launch Without a Single Support Ticket appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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