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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.

BIS

Legality of Brazil’s betting platforms to be a central theme at BiS Brasília

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Betting sector moves forward amid regulatory debate and reinforces the need for clear rules and a safe environment in Brazil

The advancement of sports betting regulation in Brazil has placed the sector at the center of important discussions regarding legal certainty, tax revenue, and economic development.

Amid recent debates over possible market restrictions, the postponement of new projects such as the launch of Caixa Econômica Federal’s betting platform, and the ban on prediction markets, specialists continue to emphasize the importance of consolidating a regulated, transparent, and sustainable environment for the industry.

More than just a trend, the legalized betting market is increasingly being viewed as a strategic opportunity for the country, with the potential to generate jobs, attract international investment, and significantly boost public revenue.

Regulation is also seen as an essential path toward ensuring consumer protection and combating informality.

In this context, BiS Brasília, confirmed to take place on June 2 and 3, positions itself as the leading discussion forum for the sector in Latin America.

The event will bring together authorities, operators, regulators, and experts to debate the future of the industry at what is considered a decisive moment for its consolidation in Brazil.

It is not simply about allowing or banning betting, but about how to structure a responsible market that creates value for the entire chain—from operators to consumers—while remaining under effective public oversight,” said Alessandro Valente, chairman of BiS Brasília.

Legality brings predictability, attracts serious companies, and creates more effective control and enforcement mechanisms.”

Another key point is the role of regulation in promoting responsible gaming. With clear rules in place, it becomes possible to implement stronger policies to prevent risky behavior, while also ensuring greater transparency in operations.

Brazil has the opportunity to build one of the most relevant regulated markets in the world. Events such as BiS are essential to align expectations, share international best practices, and accelerate this process responsibly,” he added.

Held in Brasília, the center of the country’s main political and economic decisions, the meeting reinforces its strategic role by bringing together the different stakeholders involved in shaping this new scenario.

Expectations are that this edition will go down in history as a milestone in the maturing debate over the legality of betting in Brazil.

BiS Brasília

Now in its second edition, BiS Brasília is an iGaming and betting industry event dedicated to fostering dialogue between the private sector, government authorities, and society on the development of the regulated gaming, casino, and lottery market in Brazil.

Held in the federal capital, the event gathers business leaders, authorities, and experts to discuss strategic topics such as regulation, integrity, innovation, taxation, and responsible gaming.

BiS SiGMA South America is part of the SiGMA World group’s portfolio of events, a global leading brand in organizing B2B events and a business platform for the gaming and betting ecosystem worldwide.

The post Legality of Brazil’s betting platforms to be a central theme at BiS Brasília appeared first on Americas iGaming & Sports Betting News.

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iGaming

PokerStars sets $50m+ guaranteed Anniversary Series for May 10–June 3

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Online festival spans 461 tournaments and includes three Main Events on May 24 plus a $500,000 GTD Sunday Storm PKO final on May 10.

PokerStars will run an online Anniversary Series with more than $50m in guarantees from May 10 to June 3, 2026, the operator said on April 27. The schedule includes 461 tournaments and is positioned to mark PokerStars’ 25th anniversary, alongside the 15-year milestone for Sunday Storm.

The festival’s buy-ins range from $5.50 to $15,000, with qualifiers starting at $0.55, according to the company. PokerStars said it will also distribute more than $650,000 in Anniversary Series Lucky Dip tickets during the series.

PokerStars is headlining the series with three Main Events on May 24:

  • a $109 tournament with a $1.5m guarantee,
  • a $1,050 Main Event with a $2.5m guarantee,
  • and a $5,200 Main Event with a $2m guarantee.

Weekly Sunday events include Sunday Million, Sunday High Rollers, and Mystery Bounty specials, with Second Chance Main Events (PKO) scheduled for May 31.

The operator is also running a Sunday Storm 15th anniversary Progressive Knockout tournament with a $500,000 guarantee for an $11 buy-in. Phase 1 events are underway, with Phase 2 set for May 10.

“We’re proud to celebrate 25 years of PokerStars bringing big money poker tournaments safely to players around the world,” said Steve Clarricoats, Associate Director of Online Scheduling. “Putting $50 million up in guarantees shows our focus remains on bringing the best of PokerStars to more players in a variety of tournaments.”

More relevant data as follows:

The post PokerStars sets $50m+ guaranteed Anniversary Series for May 10–June 3 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Alea shortlisted for two SBC Awards Europe categories

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The supplier is nominated for Game Aggregator of the Year and Employer of the Year ahead of SBC Summit Malta on April 29.

Alea has been named a finalist in two categories at the upcoming SBC Awards Europe: Game Aggregator of the Year and Employer of the Year. The company announced the nominations on April 28 from Barcelona.

Founder Alexandre Tomic said the double shortlisting reflects a link between product delivery and company culture. “If people don’t care about what they’re building, it shows immediately. In the product, in the details, everywhere. Reliability can’t be bolted on later, it’s a consequence of that care.”

“We’ve spent years building a team that takes ownership and holds a certain standard. Seeing both nominations together just tells me we’re doing something right.” Tomic added.

The news comes ahead of SBC Summit Malta, where Alea said Tomic and COO Ramon Glieneke will take part in conference sessions on April 29. Tomic is scheduled to appear on “Casino vs Sports: Can Gamification Truly Cross Over?” while Glieneke is due to join “The COO Horizon: Challenges and Opportunities in 2026/27.”

Alea said its wider team will be onsite throughout the summit at Booth D22.

More relevand data as follows:

The post Alea shortlisted for two SBC Awards Europe categories appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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