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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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QTech Games add more content muscle with Reflex Gaming portfolio

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QTech Games, the leading game aggregator for all emerging markets, has signed its latest supplier partnership with Reflex Gaming, the UK’s largest independently owned omnichannel game supplier, enabling its platform customers to access the studio’s expansive slots catalogue.

Established in 2004, Reflex Gaming’s prolific production line run of legendary games has catapulted the supplier to igaming prominence and recognition, offering a diverse array of gaming experiences across both digital and analogue markets, and driving through new innovations in gaming, including the creation of entirely new gaming categories.

Reflex Gaming creates the highest quality digital gaming content for license to many of the world’s leading casino operators, as evidenced by its steady stream of recent hit titles, including Candy Crazed Pandas DoubleMax, Big Game Fishing Christmas Catch, The Cursed Idol, and 8 Balls of Fire Blazing Bounty. All of these games and more are now available via QTech’s premier platform, which is taking the widest range of online games to international markets, with established names sitting alongside the industry’s most exciting up-and-coming providers.

This collaboration naturally broadens Reflex Gaming’s international scope, unlocking untapped regions for diversified growth, above all in Africa and Latin America.

QTech Games CEO, Philip Doftvik, said: “We’re dedicated to constantly launching more and more first-class content and product innovation that drives revenue for our partners. So, this deal with Reflex Gaming extends our impressive sequential pipeline into 2026 – and we’ve so much more to come this year! In today’s marketplace, only premium games of the highest standard separate you from the crowd. So, we look forward to sharing their wide spectrum of games with both leading and challenger operator brands in emerging markets worldwide.”

Mat Ingram, Chief Product Officer at Reflex Gaming, added: “At Reflex Gaming, we pride ourselves on working with the sector’s biggest and most commercially recognised partners, and QTech Games fits our growth plan perfectly, as we continue to expand our horizons into new territories, leveraging our brand’s values which . QTech’s platform is a gateway to global audiences, so we can’t wait to see how our highly engaging games perform across a greenfield landscape of emerging markets.”

The post QTech Games add more content muscle with Reflex Gaming portfolio appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Blokotech

Blokotech serves up Global Padel Tour in collaboration with SiGMA

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Blokotech, a leading innovator in iGaming software solutions, has launched its Blokotech Padel Tour, a new international sporting circuit combining padel, networking and the global iGaming community, delivered in partnership with SiGMA.
The four-stage event is hosted across four international destinations in 2026, beginning in Buenos Aires, followed by Malta and Miami, before concluding in Rome for the Grand Finale during SiGMA World. Each point on the Tour coincides with the same week as influential iGaming events – including SAGSE, SBC Miami, and SiGMA World – underscoring the tour’s positioning at the intersection of sport, business and community.
Starting next month, each tournament will follow the same format, welcoming a minimum of 24 pairs, split across two competitions: a Beginners tournament and an Advanced tournament. First- and second-place finishers in each category will receive prizes, with each event featuring music, catering, and on-site photography and video to create a premium, social experience for players and guests.
All roads lead to Rome where the Grand Finale will introduce a ranking-based qualification system. Players competing in earlier legs of the tour will earn points for participation and performance, with top-ranked pairs qualifying for the final. Additional places will also be made available via open registration.
The best prizes are reserved for the event in Rome, which include an Omega Speedmaster or IWC watch for Advanced first-place winners, Apple Watch Ultra Pro Prizes for Beginners champions, and professional padel kits plus tickets to a Padel World Tour event for second-place finishers in both categories.
Key dates for the 2026 Blokotech Padel Tour:
  • Buenos Aires – 16 March (12:00–19:00)
  • Malta – 28 April (10:00–16:00)
  • Miami – 9 June (time TBC)
  • Rome – Grand Finale – 2 November (time TBC)
Blokotech Co-Founder and CEO Salvatore Messina commented: “Padel has a deep and authentic connection to Latin America where our own roots rest as a business. Our aim with the Blokotech Padel Tour is to bring iGaming movers and shakers together for a competition inspired by community and passion. SiGMA has been the perfect partner to help us deliver global concepts synced with some of the industry;s leading events. Join us in BA where it all begins!”

Additionally, SiGMA CMO Lauranne Urban added: “Blokotech’s Padel Tour is a wonderful idea that we’ve been honoured to help bring to life. It will provide the perfect platform for sporting action, networking and industry culture. This initiative aligns with our event philosophy to deliver engaging, community-driven experiences beyond the conference floor.”

The post Blokotech serves up Global Padel Tour in collaboration with SiGMA appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Elantil integrates 155.io into online marketplace

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Just when operators were starting to think the range of content offered by Elantil couldn’t possibly get any more diverse, the pioneering platform solutions provider has pulled off one of the great early rug pulls of 2026 by integrating 155.io into its online marketplace.

Proudly supplying “betting on chaos” since 2024, 155.io is a disruptive live game company that’s already made big waves in the industry due to its incredibly unique line-up. Designed to offer real-time madness for a mobile-first world, 155.io takes creative concepts and broadcasts them from its studio to operators around the world, creating an all-new kind of immersive betting experience.

Games offered by the supplier include Rush Hour, where players bet on how much traffic will cross a zone based on real CCTV footage, Duck Racing, where eight fearless rubber duckies race down a lazy river obstacle course with players betting on the winner, and Marble Plinko, which will definitely be a familiar concept to anyone who took part in Elantil’s Marble Races at ICE this year!

Now that 155.io’s full line-up of quirky live games has been added to Elantil’s Marketplace, operators will be able to reach out to the supplier’s business development and sales partner, RPM Gaming, directly to form their own custom agreements, with Elantil handling everything else.

By doing things this way, customers have full flexibility over the length and terms of their deal, enabling them to hand-pick the best games for their target audience while also cutting out the middleman and saving on costs – both of which are hallmarks of the Elantil approach to business.

John Debono, Chief Technical Officer at Elantil, said: “As something of a disruptive presence in the industry ourselves, it goes without saying that Elantil is naturally drawn to fellow innovators in the iGaming space. 155.io certainly fits that description, and by adding their distinctive range of live games to our online marketplace, we’ll be able to offer our partners a totally unique line-up of content that will help them create greater engagement and retention with mobile-first players.”

Sam Jones, Chief Executive Officer at 155.io, said: “155.io and Elantil are both companies that have made names for themselves by doing things differently, so we’re really happy to be sharing our chaotic brand of mobile-first content with a platform provider that genuinely appreciates the importance of going against the status quo. Now that our full line-up of games is integrated into their marketplace, I’m looking forward to seeing what our real-time madness can do for Elantil operators!”  

The post Elantil integrates 155.io into online marketplace appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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