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Raketech Announces Q1 2024 Results

Published

2 years ago

May 16, 2024

Niji Narayan

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.

GoldenRace

GoldenRace to showcase V5 mobile betting solution at Peru Gaming Show 2026

Published

25 minutes ago

June 4, 2026

Wladimir P.

goldenrace-to-showcase-v5-mobile-betting-solution-at-peru-gaming-show-2026

GoldenRace will exhibit at Peru Gaming Show 2026 at the Centro de Exposiciones Jockey in Lima on 17-18 June, where it plans to showcase its new V5 mobile solution, according to the supplier.

The company said the V5 delivery focuses on performance and operator control, with a unified UI/UX built around “ultra-fast performance”, “total brand authority” through customisation, and “intuitive navigation”, including a “one-click hybrid toggle” to access markets.

GoldenRace also plans to highlight its Hit&Win games, including Arcade Heist—“recently crowned with the Game Innovation Award at the SiGMA Africa Awards 2026”—and Fortune Fighters, which the company said is built to run on the V5 infrastructure.

Other products listed for the stand include In-shop Mobile, a retail feature that enables customers to bet on their own devices while in-store, plus virtual Greyhound and Horse Racing content.

The supplier said it will also feature products from other group brands at the show: Spinmatic, Novusbet and Xpress Tech. GoldenRace said attendees can meet the team at stands 11-14.

The post GoldenRace to showcase V5 mobile betting solution at Peru Gaming Show 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

betcore

BetOnGames launches Cricket Strike Crash for its crash games portfolio

Published

1 hour ago

June 4, 2026

Wladimir P.

betongames-launches-cricket-strike-crash-for-its-crash-games-portfolio

BetOnGames, the instant games vertical of the BETCORE ecosystem, has launched Cricket Strike Crash, a sports-themed crash game, the company said on June 4, 2026.

Cricket Strike Crash uses a real-time multiplier that increases while the round continues, with players choosing when to cash out before the crash. BetOnGames positions the title for fast-cycle play and mobile-first sessions.

The game ships with a stated RTP of 97.5% and medium volatility. BetOnGames also says Cricket Strike Crash uses a “provably fair system” designed to provide transparency on outcomes.

Cricket Strike Crash joins BetOnGames’ wider instant games catalogue within BETCORE, alongside TVBET and ElCasino. The group offers operators access to crash games, instant win games and slots via a single B2B integration, according to the company.

A product video is available here.

The post BetOnGames launches Cricket Strike Crash for its crash games portfolio appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Eastern Europe

FeedConstruct locks up exclusive Romanian football data and streaming rights

Published

4 hours ago

June 4, 2026

Wladimir P.

feedconstruct-locks-up-exclusive-romanian-football-data-and-streaming-rights

Deal covers Romania’s FA Cup, Super Cup, Liga 2 and Liga 3, women’s Superliga and national team matches, plus Liga 1 Futsal.

FeedConstruct has signed an agreement to secure exclusive data and video streaming rights for a portfolio of Romanian football competitions, the company said.

FeedConstruct said the rights are held on an exclusive basis across the full season and expand its European football content for betting operators.

The agreement covers the Romanian FA Cup, Super Cup, Men’s Liga 2 and Liga 3, Superliga Women, Women’s National Team matches, and Liga 1 Futsal competitions.

Financial terms, contract duration beyond “the full season,” and any distribution or integrity safeguards were not disclosed.

The post FeedConstruct locks up exclusive Romanian football data and streaming rights appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.