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Raketech Announces Q1 2024 Results

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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.

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Alea expands global content offering through partnership with FAZI

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The leading iGaming aggregator Alea has announced a new partnership with FAZI, the internationally recognized gaming provider with more than 30 years of experience delivering casino entertainment across more than 60 markets worldwide.

Through this collaboration, FAZI’s portfolio of nearly 300 games will become available to Alea’s global operator network through a single API integration, supporting the company’s expansion across regulated markets in Latin America, Africa, and Europe.

The agreement brings a selection of FAZI’s best-performing titles to the Alea platform, including Wild Hot 40, Golden Crown, Wild Hot 40 Free Spins, Very Hot 5, and Wild Hot 40 Blow.

“We’re happy to welcome FAZI to the Alea platform,” said Eduard Verdaguer, Partnerships Manager at Alea.

“They have a strong portfolio with games that already perform well in different markets, and we’re looking forward to making their content available to our operators.”

“Alea’s strong operator network makes them a valuable partner in scaling our distribution globally,” said Bojan Mitic, CEO of FAZI.

“This collaboration allows us to reach new markets more efficiently and strengthen our position across key regions.”

The partnership further expands the range of content available through Alea’s aggregation platform, giving operators access to a wider variety of games through a single integration while continuing to simplify distribution across global markets.

Alea

Alea is a leading iGaming aggregator, offering a customizable platform that provides operators worldwide with seamless access to over 23,000 games from 170+ top-tier providers through a single API integration.

Known for its innovative technology, Alea simplifies the integration journey and delivers a flexible, scalable solution designed to enhance game variety, player experience, and operational efficiency.

Alea is highly committed to a security-first infrastructure, ensuring reliability and trust at every level.

In addition to game aggregation, Alea has introduced Alea Pay, an exclusive payment gateway that further optimizes financial transactions.

With a strong focus on security, compliance, and ongoing support, Alea continues to empower operators with cutting-edge tools to thrive in the evolving iGaming market.

The post Alea expands global content offering through partnership with FAZI appeared first on Americas iGaming & Sports Betting News.

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Yaspa appoints US fintech and gaming veteran Justin Fears as US Sales Director

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Yaspa, a leading fintech specialising in payments and identity solutions, today announced the appointment of Justin Fears as US Director, Enterprise Sales.

Fears joins the company during a period of rapid international expansion and will lead Yaspa’s strategic commercial growth across North America.

Based out of Yaspa’s Atlanta office, Fears will be responsible for supporting Yaspa’s expansion throughout North America, helping gaming operators modernise payment experiences through real-time bank payments, intelligent transaction solutions, and next-generation payment innovation.

He will work closely with Yaspa’s recently bolstered US and global commercial leadership teams to scale strategic partnerships and market adoption.

Fears brings more than 18 years of specialised experience spanning payments, fintech, SaaS, and AML compliance specific to the gaming industry.

Throughout his career, he has built a reputation for aligning emerging technologies with practical commercial outcomes.

Prior to joining Yaspa, Fears held senior leadership positions at prominent industry organisations including Kinectify, First Data Corporation, Glory Global Solutions, DiTronics Financial Services, NEXGEN Technology, and CASINOMONEY.

Notably, at Kinectify, he played a key role in expanding the adoption of AI-driven AML and KYC solutions purpose-built for the casino industry. Fears is also a veteran of the United States Air Force.

James Neville, CEO of Yaspa, said: “We’re delighted to welcome Justin to the team as we accelerate our footprint in the US market.

His deep operational understanding of gaming-focused financial infrastructure, compliance technologies, and enterprise sales leadership makes him an incredible asset.

Justin’s appointment further strengthens our local team and underscores our commitment to helping North American operators lower costs, reduce fraud, and elevate the player experience through open banking.”

Fears said: “I’m excited to join Yaspa at such an important stage in the company’s growth journey.

The combination of open banking, innovative payment solutions, and intelligent transaction data represents a significant opportunity within the US iGaming market, particularly as operators continue to prioritise player experience, fraud reduction, and payment efficiency.

Yaspa has built an innovative platform uniquely positioned to support the evolving needs of regulated operators, and I look forward to helping expand the company’s presence and strategic partnerships across the US.”

In the last 12 months, Yaspa was named winner of the Real-Time Payments Innovation award at the 2025 Payments Awards and one of the CB Insights Top 100 Fintechs, a global ranking that spotlights the most promising and innovative companies shaping the future of financial services.

This comes during a period of sustained growth for Yaspa in the past 18 months and closed a $12m investment round in July, led by Discerning Capital.

This growth has culminated in the opening of its new Atlanta office in the US, as well as the opening of its tech hub in Leeds, UK, in August 2025.

The post Yaspa appoints US fintech and gaming veteran Justin Fears as US Sales Director appeared first on Americas iGaming & Sports Betting News.

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Habanero launches Nuwa Deluxe slot with variable paylines and two-tier free spins

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Habanero has launched Nuwa Deluxe, a 5×3 slot themed around Chinese mythology. The game introduces a variable payline system and a progression-style Free Games feature that can unlock a second-tier bonus, according to the supplier.

In the base game, paylines can upgrade at random on any spin, moving from 28 to 38, 58 or 88 active lines. The title also includes expanding Wilds that cover the entire first and third reels.

During Free Games, players collect five element symbols. Completing the set during the round unlocks Super Free Games, where full-reel Wilds are guaranteed on two reels on every spin.

Habanero said Nuwa Deluxe supports its Jackpot Race™ and Buy Feature. The launch follows recent releases Steampunk Plinko and Raiden Shogun.

Toni Karapetrov, Head of Corporate Communications at Habanero, commented: “Nuwa Deluxe is an exciting new release that boasts a variable payline system to keep engagement high at the base game, while the element collection mechanic in free spins gives players something to work towards beyond simply triggering the bonus.

“The Super Free Games tier is where the action really kicks in with guaranteed full-reel Wilds on every spin. It is another strong addition to our portfolio and one we expect to have a genuine impact with players.”

The post Habanero launches Nuwa Deluxe slot with variable paylines and two-tier free spins appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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