BetConstruct, a global pioneer in iGaming and sports betting solutions, has announced a significant milestone in the gaming industry. Through its affiliate entity, BetConstruct has become the first iGaming company authorized to facilitate the issuance of both Business-to-Business (B2B) and Business-to-Consumer (B2C) licenses. This remarkable achievement was made possible by obtaining a direct license authorization from the Tobique First Nation in Canada.

The Tobique First Nation, renowned for its innovative and forward-thinking regulatory approach, has entrusted BetConstruct’s affiliate entity with the authority to oversee applications and facilitate the issuance of licenses from its jurisdiction. This partnership underscores shared values of innovation, transparency, and a commitment to responsible gaming practices.

This historic development places BetConstruct at the forefront of the Canadian iGaming market, redefining the opportunities available to gaming operators. By leveraging its affiliate entity’s licensing capabilities, BetConstruct empowers businesses to navigate a streamlined and transparent regulatory environment, unlocking new opportunities for growth and innovation.

“At BetConstruct, we’ve always strived to push the boundaries of what’s possible in iGaming. This landmark achievement with the Tobique First Nation reflects our unwavering dedication to creating opportunities for our partners while upholding the highest standards of responsibility and integrity in gaming,” said Vigen Badalyan, Co-Founder of BetConstruct.

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The issuance of dual licenses under the watchful eye of BetConstruct’s affiliate not only highlights BetConstruct’s commitment to supporting its partners but also reinforces the company’s role as a trusted leader in the global iGaming landscape.

This milestone signals a new era for regulated iGaming, as BetConstruct takes bold steps to establish a robust ecosystem for operators and consumers alike. With its direct license authorization from the Tobique First Nation, BetConstruct is setting a new standard for innovation, consumer protection, and sustainable growth in Canada and beyond.

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

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• 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.

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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.

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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.”

As the global hub of the gaming industry, Las Vegas once again provided the perfect setting to showcase the latest innovations and trends at the Global Gaming Expo (G2E). From October 8 to 10, around 350 industry players from more than 100 countries gathered at “The Venetian Expo” to introduce their latest product solutions to gaming enthusiasts from around the world. As one of the few German companies, the Merkur Group was also present in the gambling metropolis to exhibit its impressive product portfolio to the international trade audience on a 625-square-meter exhibition platform.

“The Latin American gaming market, despite facing significant regulatory challenges, remains a crucial pillar of our international distribution network. The G2E, as one of the most important flagship trade fairs in the industry, provides the ideal venue to present our forward-looking product range and engage in meaningful dialogue with our LATAM customers. Moreover, the expo offers tremendous potential to increase the visibility of the Merkur sun logo on international markets, thereby further strengthening the brand beyond Europe’s borders,” said Jürgen Stühmeyer, Management Board member, Merkur Sales.

The main focus of Merkur Gaming’s product showcase was its Linked Progressive Jackpot Systems, which are particularly in demand within the global industry. The German gaming expert introduced two new systems – Link Wave and Clash Link – both of which quickly became crowd favorites at the expo. These jackpot systems stand out thanks to their exciting features, which make the gaming experience even more thrilling and diverse. The new Mod Ex cabinet family also attracted significant attention. Visitors were particularly impressed by the modularity of the cabinet, which allows customers to configure their preferred device with a variety of monitor, body, and base options.

In keeping with tradition, several other subsidiaries of the German Merkur Group traveled to “Sin City” to showcase their diverse and forward-thinking portfolios. The cash-handling specialists from GeWeTe once again demonstrated the strengths of their versatile and high-performance product range, which enables efficient and easy cash management at gaming locations. Additionally, the British subsidiary Bede Gaming presented its flexible iGaming solutions, while edict egaming captured attendees’ attention with its unique approach to game aggregation. For the first time, the two strategic partners Spintec and Gaming Arts also joined the Merkur booth, enhancing the trade show experience with their innovative gaming portfolios.

“The G2E 2024 has exceeded our expectations in every way. The new booth concept, which includes a larger footprint and stylish new design elements, was met with tremendous approval. Thanks to our outstanding product lineup – most notably the Linked Progressive Jackpot Systems Link Wave and Clash Link, as well as the Mod Ex cabinet family – we were able to impress visitors not only with our aesthetic presentation but also with our innovative products. The resulting fruitful and promising discussions leave us with a positive outlook on the trade fair and confidence in the future,” said Athanasios “Sakis” Isaakidis, Chief Executive International at Merkur Gaming.

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