High Roller Technologies Inc., operator of the award-winning, premium online casino brands High Roller and Fruta, announced Saratoga Casino Holdings LLC (Saratoga) has made a $1.0 million strategic investment in the Company through a private placement of restricted shares of common stock of High Roller at a purchase price of $2.80 per share.

Saratoga operates casino properties in New York, Pennsylvania, Colorado, and Mississippi, and this investment marks their first step into the online gaming sector.

“This strategic investment from Saratoga is a strong vote of confidence in our business model and growth strategy. This strategic alignment with Saratoga is an indication of our continued ambition to scale our platform, expand our market reach, and execute on our near- and long-term initiatives,” said Seth Young, Chief Executive Officer at High Roller.

“Over the past few years, we have been seeking the right opportunity to make our first investment in the online gaming sector. High Roller’s growth trajectory is extremely compelling, and we are thrilled to support the company with this strategic investment,” said Samuel Gerrity, CEO of Saratoga Casino Holdings.

High Roller Technologies Inc., operator of award-winning premium online casino brands High Roller and Fruta, announced that Seth Young, SVP Corporate Strategy & Investor Relations, will present live at the Small Cap Growth Virtual Investor Conference hosted by VirtualInvestorConferences.com, on June 26, 2025

DATE: June 26

TIME: 12:00 PM ET

Available for 1×1 meetings: July 1, 2025

This will be a live, interactive online event where investors are invited to ask the company questions in real-time. If attendees are not able to join the event live on the day of the conference, an archived webcast will also be made available after the event.

It is recommended that online investors pre-register and run the online system check to expedite participation and receive event updates.

Learn more about the event at virtualinvestorconferences.com.

High Roller Technologies Inc., operator of www.HighRoller.com and www.Fruta.com, each a premium brand in online gaming and a destination for high rollers, announced that it has filed its financial results for the three months ended September 30, 2024.

Third Quarter 2024 Summary

• Company reported total revenue of $7.5 million for the three months ended September 30, 2024, consisting of net gaming revenue and services generated through intra-group arrangements

• 30% increase in quarter-over-quarter revenue resulting from the Company’s continued focus on marketing efficiencies and cost optimization

• Net loss per share of ($0.07) for the three months ended September 30, 2024, compared to net loss per share of ($0.03) for the three months ended September 30, 2023

• Company ended the quarter with cash, cash equivalents of $2.9 million, inclusive of restricted cash

• Achieved positive Adjusted EBITDA for the three months ended September 30, 2024 of $40 thousand, marking a significant improvement from the negative EBITDA of ($1.0 million) reported in the three months ended June 30, 2024

• Third Quarter 2024 Financial Summary

The Company reported revenue from operations of $7.5 million for the third quarter ending September 30, 2024, reflecting a 30% increase over the previous quarter’s revenue of $5.8 million.

Revenue from operations for the three months ended September 30, 2024 was $7.5 million, compared to $7.6 million for the three months ended September 30, 2023, representing a slight decrease of less than 1%. Growth in primary gaming markets offset the impact of High Roller’s exit from a jurisdiction due to regulatory changes in late 2023.

Operating expenses for the three months periods ended June 30, 2024 and September 30, 2024 were $7.3 million and $8.0 million respectively and were $7.8 million for the three months ended September 30, 2023 driven by increased investment into advertising and promotional costs in key markets to increase player acquisition.

For the three months ended September 30, 2024, the Company recorded a GAAP net loss of $(0.5 million) as compared to a GAAP net loss of $(0.2 million) for the three months ended September 30, 2023. Sequentially, the Company reported a GAAP net loss of $(1.5 million) in the three months ended June 30, 2024. During the three months ended September 30, 2024, the Company achieved Adjusted EBITDA of $40 thousand, marking an improvement from ($1.0 million) in Adjusted EBITDA deficit reported in three months ended June 30, 2024. Additionally, as compared to the three months ended June 30, 2023, the Company reported Adjusted EBITDA of $0.2 million in the three months ended June 30, 2024. This improvement over consecutive quarters was driven by cost optimization efforts and disciplined operational execution.

The Company reported a net loss per share of ($0.07) in three months ended September 30, 2024, compared to a net loss per share of ($0.03) in the three months ended September 30, 2023.

At the close of September 30, 2024, the Company reported $2.9 million in cash and cash equivalents, including restricted cash. This amount does not give effect to proceeds received by the Company from its IPO that closed in October 2024 and that raised gross proceeds of $10 million to support strategic growth initiatives.

Ben Clemes, Chief Executive Officer at High Roller Technologies, commented: “We’re extremely proud to have completed our recent IPO on the NYSE, a milestone that reflects the confidence and trust of our shareholders. We sincerely thank our investors for their support as we move into this exciting new chapter. We believe that our quarter-over-quarter most accurately reflects the direction of our Company as we focused on optimizing costs and creating more efficient and effective marketing efforts to grow our user base. Looking ahead, we remain committed to executing our growth strategy, delivering value to our stakeholders, and driving innovation in the gaming industry.”