Wazdan, the gain-focused developer behind some of the world’s most rewarding casino gaming experiences, has entered the Filipino market after signing with SG8, a leading operator in the country.

A total of 46 Wazdan games will be made available to SG8 players and those across the Philippines for the very first time, including favourites 9 Burning Dragons, 9 Burning Stars™ and a host of the 9 Coins™ series such as 9 Coins™ Extremely Light, 9 Coins™ 1000 Edition and 9 Coins™ Grand Platinum Edition.

A renowned operator in the Philippines since 2006, SG8 is PAGCOR licensed and has quickly emerged as a player-favourite within Southeast Asia due to its diverse slot, live dealer and sportsbook offering, set to be enriched by Wazdan’s innovative iGaming content.

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The Philippines marks the latest market entry for Wazdan, further establishing its presence across Asia following the landmark deal. More partnerships in the country are expected to be announced in due course.

Radka Bacheva, Head of Sales at Wazdan, said: “The Philippines boasts an incredible amount of iGaming potential and so we are delighted to enter the market with SG8, a leading player within the country.

“We’re bringing a range of our top-performing titles to its platforms and are eager to see how Filipino players react to our innovative mechanics. We are in no doubt this is the beginning of a flourishing collaboration.”

Heng Chin Sheng, CEO at SG8, said: “It’s an honour to welcome Wazdan to the Filipino market for the first time as part of this deal – we’ve seen the reception to its innovative slots across the world and are delighted to bring them to our players.”

“Leading titles such as 9 Burning Dragons and 9 Burning Stars™ are just a few of the 46 Wazdan titles that we are sure our players will embrace, and we look forward to seeing the results!”

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Players hunt for free spins and falling wilds in feature-filled title

Games Global’s exclusive studio OROS Gaming, has unveiled Magnificent Power Wolf Fire Spirit™, its latest slot utilising the popular Magnificent Power mechanic that promises captivating gameplay and 4,096 ways to win on a 5×4 grid.

Adorned with bear, eagle and dreamcatcher symbols, this Native American-inspired slot immerses players with every spin of the expanding reels, providing ample opportunity to discover the hidden riches with two or more adjacent high-paying symbols awarding a win.

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When one or more Magnificent Power Wilds land, it triggers the Magnificent Power mechanic that sees all the coins on screen collected. 30 coins collected upgrades the wilds to random multiplier wilds whilst collecting 60 coins unlocks the extra sixth reel and additional fire and spirit symbols for even more exciting ways to win big.

The falling wild feature is activated should a moon wild symbol appear on the reels. During the feature, the moon wild symbol remains on the reels, cascading down one place on every subsequent spin until it exits the reels from the bottom.

Landing three red dream catcher symbols triggers the Fire Free Spins in which players collect paw symbols that are added to the collection meter. The more paw symbols collected, the higher the prize value at the end of the bonus round with a jackpot of up to 250x up for grabs.

Landing three blue dream catcher symbols triggers the Spirit Free Spins bonus. During this feature, a falling wild moon symbol makes its way onto the reels, one for each spin with a win multiplier of either 2x or 3x. The multiplied wild only leaves once it reaches the bottom of a reel.

With OROS Gaming’s widely acclaimed Magnificent Power series resonating strongly with players globally, Magnificent Power Wolf Fire Spirit™ builds upon this success, with a variety of innovative mechanics designed to immerse and thrill players.

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OROS Gaming prides itself on understanding the needs of the end-user, keeping up to date with industry trends and the type of content that resonates the most with players. Through this focus, the company aims to produce high-quality slots that deliver on player expectations.

Ryan Cuddy, CEO at OROS Gaming, said: “The Magnificent Power franchise just leveled up with Fire Wolf Spirit! From its stunning wolf symbol to the beautifully intense soundtrack, our team has outdone itself, crafting a game that’s serving our passion for making every game better than the last!”

Andy Booth, Chief Product Officer at Games Global, said: “Magnificent Power Wolf Fire Spirit™ is a clear demonstration of OROS Gaming’s continued commitment to innovation.

“We are thrilled to feature OROS Gaming’s latest creation on our platform, and with its captivating gameplay, expanding reels and falling wilds, this slot showcases the innovative mechanics and features that promise to immerse players.”

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.

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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.”

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