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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.
Eastern Europe
ELA Games reports 244.52% active user growth in Romania
Supplier links the uplift to classic-style slots with modern features, including Joker Winpot, as bet counts rise 239.74%.
ELA Games says it has expanded in Romania after rolling out titles that pair classic slot aesthetics with modern gameplay features.
The supplier reported a 244.52% increase in active users in Romania and a 239.74% rise in bet counts. The company attributed the performance to what it described as a “natural path” for traditional players to move into more feature-led play.
Marharyta Yerina, Managing Director of ELA Games, said: “It is great to see how Romanian players are enjoying the way we combine classic symbols with modern features. Joker Winpot works well for those who love the traditional look but actually want more excitement from their play. We also see that once players feel comfortable with these mechanics, they are happy to explore our other top titles which have proved to be successful in Romania like Cash of Gods and Flames Fruit Frenzy. It proves that respecting what players like is the best way to introduce new ideas to the market.”
ELA Games did not disclose the timeframe for the reported increases, which operators it works with in Romania, or how the metrics were calculated.
The post ELA Games reports 244.52% active user growth in Romania appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
Belatra
Belatra Games confirms Lima trip for Peru Gaming Show 2026
Slots developer plans partner meetings and private events around PGS on 17-18 June at the Jockey Exhibition Center.
Belatra Games will attend Peru Gaming Show (PGS) 2026 in Lima on 17-18 June, with the company confirming plans to use the event for meetings with existing clients and prospective partners.
PGS, now in its 23rd year, will be held at the Jockey Exhibition Center. Belatra said it will have a team present throughout the show to discuss its slots portfolio and explore commercial opportunities in Peru as part of its broader Latin America strategy.
Alongside the trade show schedule, Belatra said it will host a private “Belatra Cocktail Experience” for partners and run a watch party on 16 June for Argentina’s match against Algeria.
The company also noted it will attend SBC Americas in Fort Lauderdale ahead of PGS, describing the event as an opportunity to meet operators from North and Latin America and present “LatAm-ready content”.
Lucila M. Barletta, Head of Accounts LatAm at Belatra, said: “Peru is an exciting and growing market and PGS is the perfect place to build on our relationships with partners already working with us and to connect with new ones. We look forward to an amazing couple of days in Lima and, of course, rooting for Argentina with our friends and partners throughout the evening. It’s going to be a special occasion all around.”
The post Belatra Games confirms Lima trip for Peru Gaming Show 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
BC.GAME
BC.GAME adds BETBY to BC Engine as staker rewards pass $2.5m
BC.GAME has partnered with sportsbook supplier BETBY, bringing the supplier into BC Engine, the platform’s rewards and participation model powered by its native $BC token.
BC Engine launched in April and is positioned by BC.GAME as a mechanism that links platform-generated profits and activity to ongoing rewards for $BC holders. Under the model, players earn $BC by playing casino games on BC.GAME, with tokens allocated and staked in BC Engine. Rewards are then distributed based on users’ holdings.
BC.GAME said stakers have earned more than $2.5 million in rewards since launch. The company also cited on-platform data showing more than $74.3 million in total wager and over 5.8 million bets.
Kar Kheng Giam, Chief Executive Officer of BC.GAME, said: “Our vision for BC Engine has always been to create a model where platform growth and player participation are more closely aligned.
“The addition of BETBY is significant because it demonstrates how the ecosystem can continue to expand through strategic partnerships. Every new contributor helps strengthen the engine, creating additional utility for $BC and reinforcing the long-term sustainability of the model.
“As we continue to grow the network, our focus remains on delivering a simpler and more transparent rewards experience that allows players to participate more directly in the success of the ecosystem.”
Christos Nikolopoulos, Chief Commercial Officer at BETBY, said: “We’re pleased to become part of the BC Engine ecosystem and support an initiative that brings a different approach to player engagement.”
“At BETBY, innovation has always been at the heart of our business, and BC Engine represents an interesting evolution in how gaming platforms can connect product performance, community participation and rewards. We look forward to contributing to its continued growth.”
BC.GAME said the BETBY deal is part of a wider push to expand $BC utility and add more ecosystem partners contributing to BC Engine. The company also pointed to recent international expansion, including moves in Africa via Nigeria and Kenya, alongside initiatives in Latin America.
The post BC.GAME adds BETBY to BC Engine as staker rewards pass $2.5m appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
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