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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.

BePlay

REEVO Enters into a New Partnership with BePlay

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REEVO has entered into a new partnership with BePlay, an innovative game studio recognised for combining handcrafted design, proprietary technologies and data-driven game mechanics to deliver engaging player experiences. This collaboration further strengthens REEVO’s aggregation ecosystem, adding a portfolio of high-performing content built to maximise engagement, retention and operator success.

Through this partnership, BePlay’s portfolio is now available on the REEVO aggregation platform, giving operators seamless access to a growing collection of distinctive slot experiences through a single integration. The addition reinforces REEVO’s commitment to continuously expanding its content offering with studios that bring originality, innovation and measurable performance.

At REEVO, building a world-class aggregation platform means partnering with providers that challenge convention and deliver content that stands out. BePlay has earned a reputation for creating games powered by custom technologies, advanced mechanics and its unique SMART DATA MODE approach, helping operators deliver experiences that resonate with players and drive commercial results.

As REEVO continues to grow its global network, partnerships like this play an important role in strengthening the diversity and quality of content available through the platform. By bringing together innovative studios under one ecosystem, REEVO empowers operators with greater choice, stronger engagement opportunities and scalable growth.

Daniel Cuc, Head of Account Management at REEVO, said: “Partnering with BePlay is another exciting step for REEVO as we continue to strengthen our aggregation platform with studios that bring a fresh perspective to game development. BePlay’s focus on innovation, technology, and player engagement aligns perfectly with our vision of delivering content that creates real value for operators. We are committed to building an ecosystem where quality content and seamless distribution come together, and BePlay is a fantastic addition to that journey.”

Sam Mamedov, Business Development Manager at BePlay, said: “Reevo has always stood out to me as an aggregator with genuinely top-tier standards, both in how they run their processes and how they do business. What really sets them apart is the warmth of their team. It’s something many companies lose as they grow, but REEVO has managed to maintain that human approach while operating at the highest level. I’m genuinely happy our partnership is taking off, and I think everyone will see the results of it very soon.”

The post REEVO Enters into a New Partnership with BePlay appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Dagmar Händler

NOVOMATIC Takes a Strong Stand on Employee Health and Workplace Safety

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NOVOMATIC has held its annual Health Day at its Lower Austrian headquarters, underlining its consistent commitment to workplace health promotion and an attractive working environment.

The diverse range of activities focused on health, fitness and safety delighted more than 1000 employees at the 7th NOVO-Company Day at the headquarters in Gumpoldskirchen. The event is part of the “Enjoy Working With Us” initiative and underscores the international gaming technology group’s ongoing commitment to a healthy and motivated work environment.

This year’s Health Day was officially opened with a warm welcome from the entire Executive Board of the NOVOMATIC AG Group.

“The health, safety, and well-being of our employees are a central pillar of our company’s long-term success. That is why we make targeted investments in measures that promote a healthy, motivating, and supportive work environment. The NOVO-Company Day brings this commitment to life in a special way year after year and underscores the high priority NOVOMATIC places on these issues,” said Stefan Krenn, Member of the Executive Board of NOVOMATIC AG.

Dagmar Händler, Mayor of Gumpoldskirchen, said: “NOVOMATIC is a major employer and economic driver for Gumpoldskirchen as well as for the entire region. It is all the more gratifying that the company is once again sending such a clear signal this year regarding the well-being of its employees.”

The varied programme included, among other things, health screenings, blood tests, lung function tests and individual consultations on nutrition, ergonomics and smoking cessation. The offerings were complemented by various exercise and sports stations, including basketball, darts and e-bike test rides. Practical safety training sessions, such as a fire extinguisher drill and the “Coffee with Cops” event featuring police experts, rounded out the diverse programme.

The post NOVOMATIC Takes a Strong Stand on Employee Health and Workplace Safety appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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Gamingtec signs on as headline partner for Midnight Mayhem at ICE Barcelona

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Gamingtec has been named Headline Impact Partner of Midnight Mayhem Fight Night, a charity boxing event run by Behind The Gloves and scheduled alongside ICE Barcelona on 19 January 2027.

Behind The Gloves said the campaign is targeting €150,000 in fundraising and will follow 16 industry figures as they prepare to box.

According to the organisers, Gamingtec’s support will cover elements including a six-month training programme, event fundraising, fighter storytelling and post-event impact reporting. The partnership will also support a WBC Adaptive Boxing showcase and reporting on how proceeds are distributed to charities nominated by fighters and partners.

Sapar Karyagdyyev, Founder of Gamingtec, said: “At Gamingtec, we believe the strongest partnerships create value beyond business, so supporting Midnight Mayhem was a natural fit for us. The initiative brings together people from across our industry to raise money for important causes while highlighting the positive impact the sector can have when it comes together behind a shared goal.

“We’re proud to support Behind The Gloves as Headline Impact Partner and look forward to growing the event, amplifying its fundraising mission and celebrating the participants throughout their journey to ICE Barcelona.”

Lee McFarland, Founder of Behind The Gloves, said: “A target like €150,000 isn’t achieved through enthusiasm alone – it’s achieved through commitment. Gamingtec’s decision to become our Headline Impact Partner strengthens every part of Midnight Mayhem and gives us the platform to create an even greater impact for the charities and communities we’re supporting.

“But more importantly, it sends a message. When a company of Gamingtec’s standing backs an initiative like this, it shows what our industry can achieve when businesses come together behind a shared purpose. That’s how one fight night becomes something much bigger, and I couldn’t ask for a better partner to have in our corner.”

The post Gamingtec signs on as headline partner for Midnight Mayhem at ICE Barcelona appeared first on EE Gaming | Global iGaming & Tech Intelligence Hub.

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