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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.
As competition among online casino operators increasingly centers on bonus size and game catalogs, WinSpirit is testing a different kind of engagement. The company has launched Euphoria Lab, a project built around an unusual premise for the industry: asking players not about payouts, but about feelings.
Players are invited to share the emotions, memories, and scents they connect with winning. Some describe it as the smell of rain before a summer storm, others mention morning coffee, sea breeze, or the charge in the air right before a result is announced.
The initiative sits within WinSpirit’s summer campaign, but its ambition reaches beyond typical promotions or gameplay mechanics. Euphoria Lab turns attention to the emotional side of play — the moments that stay with players long after a session ends.
Every response collected becomes part of a larger creative project WinSpirit intends to unveil later this year. The company has kept the details under wraps, saying only that the concept moves in a direction rarely seen in the online casino space.
Rather than the usual focus on numbers, odds, or promotions, Euphoria Lab asks a simpler question: not what a win pays out, but what it feels like.
The project is live now, with players across several markets already contributing their answers — a growing, community-shaped experiment with no fixed endpoint yet.
The post What Does a Win Feel Like? WinSpirit Is Trying to Find Out appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.
As competition among online casino operators increasingly centers on bonus size and game catalogs, WinSpirit is testing a different kind of engagement. The company has launched Euphoria Lab, a project built around an unusual premise for the industry: asking players not about payouts, but about feelings.
Players are invited to share the emotions, memories, and scents they connect with winning. Some describe it as the smell of rain before a summer storm, others mention morning coffee, sea breeze, or the charge in the air right before a result is announced.
The initiative sits within WinSpirit’s summer campaign, but its ambition reaches beyond typical promotions or gameplay mechanics. Euphoria Lab turns attention to the emotional side of play — the moments that stay with players long after a session ends.
Every response collected becomes part of a larger creative project WinSpirit intends to unveil later this year. The company has kept the details under wraps, saying only that the concept moves in a direction rarely seen in the online casino space.
Rather than the usual focus on numbers, odds, or promotions, Euphoria Lab asks a simpler question: not what a win pays out, but what it feels like.
The project is live now, with players across several markets already contributing their answers — a growing, community-shaped experiment with no fixed endpoint yet.
The post What Does a Win Feel Like? WinSpirit Is Trying to Find Out appeared first on Americas iGaming & Sports Betting News.
As competition among online casino operators increasingly centers on bonus size and game catalogs, WinSpirit is testing a different kind of engagement. The company has launched Euphoria Lab, a project built around an unusual premise for the industry: asking players not about payouts, but about feelings.
Players are invited to share the emotions, memories, and scents they connect with winning. Some describe it as the smell of rain before a summer storm, others mention morning coffee, sea breeze, or the charge in the air right before a result is announced.
The initiative sits within WinSpirit’s summer campaign, but its ambition reaches beyond typical promotions or gameplay mechanics. Euphoria Lab turns attention to the emotional side of play — the moments that stay with players long after a session ends.
Every response collected becomes part of a larger creative project WinSpirit intends to unveil later this year. The company has kept the details under wraps, saying only that the concept moves in a direction rarely seen in the online casino space.
Rather than the usual focus on numbers, odds, or promotions, Euphoria Lab asks a simpler question: not what a win pays out, but what it feels like.
The project is live now, with players across several markets already contributing their answers — a growing, community-shaped experiment with no fixed endpoint yet.
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