Connect with us

Latest News

Raketech Announces Q1 2024 Results

Published

on

raketech-announces-q1-2024-results
Reading Time: 2 minutes

 

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.

Balkan's

CT Interactive launches Diamond Tree Jackpot on Inbet in Bulgaria

Published

on

ct-interactive-launches-diamond-tree-jackpot-on-inbet-in-bulgaria

 

CT Interactive has launched the Diamond Tree Jackpot on Inbet in Bulgaria, marking another important step in the company’s expansion across regulated European markets. The multi-currency jackpot system combines some of CT Interactive’s most successful slot titles into an engaging progressive jackpot experience, offering players enhanced entertainment and greater winning opportunities.

The Diamond Tree Jackpot portfolio features ten of CT Interactive’s popular slot games: 20 Mega Slot, 20 Star Party, 40 Mega Slot, 40 Treasures, Chilli Fruits, Lord of Luck, Lucky Clover, Moon Lord, Mystic Moon and Win Storm.

“Diamond Tree Jackpot brings together diverse gameplay, progressive jackpot mechanics, and multi-currency support, creating a versatile solution that appeals to a broad range of players. It is designed to help operators increase engagement, extend session durations, and achieve sustainable growth through seamless integration and player-focused features,” said Martin Ivanov, Chief Operating Officer of CT Interactive.

“The integration of Diamond Tree Jackpot further strengthens Inbet’s offering with a proven, high-impact jackpot solution. This jackpot features top-performing titles that players know and enjoy, combined with progressive mechanics, aligning perfectly with our strategy to deliver dynamic and rewarding gaming experiences,” said Vasil Parvanov, Team Lead Commercial Managers at CT Interactive.

Irena Nikolova, Casino Manager at Inbet, said: “We are delighted to introduce Diamond Tree Jackpot to our players. Together with CT Interactive, we remain committed to bringing high-quality gaming experiences and expanding our portfolio with engaging new products.”

The launch of the Diamond Tree Jackpot on Inbet in Bulgaria further strengthens CT Interactive’s presence across Europe and reinforces the company’s commitment to delivering premium gaming content and engaging jackpot solutions to regulated markets worldwide.

The post CT Interactive launches Diamond Tree Jackpot on Inbet in Bulgaria appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Artificial Intelligence

LSports and gripAI Launch Play Insurance

Published

on

lsports-and-gripai-launch-play-insurance

 

LSports, the world-leading provider of real-time sports data solutions, and gripAI, the artificial-intelligence company behind a new class of real-time betting products, announced a collaboration to bring Play Insurance to sportsbook operators worldwide.

Play Insurance is a bet-insurance product that lets players protect a bet for a small, AI-calculated premium. Insured players are paid back regardless of outcome, with the amount scaled to how close the bet came to winning based on match statistics. For operators, it opens a new revenue stream on top of existing handle and turns the near-miss — the single most frustrating moment in betting — into a reason for players to stay in the game.

“Retention is one of the hardest problems our operators face, and the near-miss is where they lose players. Play Insurance turns that exact moment into loyalty and a new revenue line, without giving anything away. It’s a genuinely new category, and pairing gripAI’s technology with our reach and our data gives operators something no one else offers today,” said Yoav Ziv, CRO at Lsports.

The product is powered by gripAI’s proprietary, patented pricing engine, trained on over 2.5 billion bets, which calculates every premium in real time based on live odds, the number of selections and user’s profile. Because premiums are priced per player and per bet rather than through flat, one-size cashback offers, operators keep control of their margin while giving players a genuinely tailored product. It also works alongside existing tools such as Cash Out: a player can cash out a bet and keep their insurance in play.

Play Insurance drives both engagement and retention where it matters most: 37% of players take the insurance offer, and 39% of insured players purchase insurance again.

“Betting has always been all-or-nothing, and that’s exactly what we set out to change. Our AI prices protection fairly and instantly for every bet, and with LSports as our distribution partner, we can bring it to operators around the world at the speed the industry moves “ said Tal Hayon, CEO at gripAI.

The post LSports and gripAI Launch Play Insurance appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Africa

Playson partners with Hollywoodbets for South Africa slots rollout

Published

on

playson-partners-with-hollywoodbets-for-south-africa-slots-rollout

Playson has partnered with South African operator Hollywoodbets to roll out a selection of its slot titles to players in South Africa’s regulated market, the company said on 20th July 2026.

Under the deal, Hollywoodbets will integrate Playson content via Light & Wonder’s aggregation platform. The operator said the addition will broaden its “live games” portfolio.

The initial rollout includes Coin Strike: Hold and Win, Thunder Coins: Hold and Win, Thunder Coins XXL: Hold and Win, Diamonds Power: Hold and Win, Energy Coins: Hold and Win and 3 Carts of Gold: Hold and Win, with more releases planned.

Blanka Homor, Sales Director at Playson, said: “Partnering with Hollywoodbets represents another important milestone in our African growth strategy. As one of South Africa’s household names, Hollywoodbets offers an outstanding platform through which we can introduce our high-performing portfolio to an even wider audience.

“We are confident our games will resonate strongly with players, and we look forward to building a successful long-term partnership together.”

Wayde Dorkin, Head of Product at Hollywoodbets, said: “Playson’s portfolio has earned an excellent reputation for delivering engaging gameplay and consistent results across regulated markets, making it a valuable addition to our product offering.

“We are always looking to enhance the entertainment experience available to our players, and we are delighted to welcome a selection of Playson’s top-performing titles to the Hollywoodbets platform.”

The post Playson partners with Hollywoodbets for South Africa slots rollout appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania