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.”

The gaming industry is at a pivotal crossroads where data security and operational reliability are more critical than ever. As casinos increasingly leverage advanced software to enhance operations and guest experiences, the decision between cloud-based and on-premise solutions becomes paramount. Quick Custom Intelligence (QCI) advocates strongly for on-premise installations, not just for enhanced data protection but also to navigate the growing trend of cloud service providers and major businesses withdrawing support from gaming companies.

Many cloud providers and businesses, including major banks, have recently made decisions not to support gaming companies. This unsettling trend means that after substantial investments in cloud systems, the operators risk having these essential services abruptly withdrawn. Andrew Cardno, CTO of QCI, shares a personal experience: “One of our banks informed us they would not extend our business because we work with casinos. Fortunately, we had other banking options, but this highlights a significant risk for the industry.”

The inconsistency of support from cloud vendors poses a critical question: Is that the kind of vendor relationship gaming companies want? “I’ve sometimes heard of cloud vendors saying they will make an exception,” Cardno continues. “But will you get the best service? Will you have a dedicated team that understands your business, or will you constantly be educating people on why the gaming industry is different? More importantly, does this action help the industry?”

By choosing on-premise solutions, casinos retain full control over their data and operations, eliminating the risk of sudden service withdrawals. This control is vital in an industry where data breaches or service interruptions can lead to significant financial and reputational damage.

A representative from a leading casino, who wishes to remain anonymous, echoed this sentiment: “When evaluating the risks, it was clear that keeping our data on-premise offered the best protection and stability. We avoid the uncertainties associated with cloud providers who may not fully support our industry.”

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QCI’s commitment to protecting the casino industry’s data ensures that its on-premise solutions provide unmatched security, reliability, and control. For any casino looking to prioritize security and minimize exposure to cloud-based risks—including the risk of service withdrawal—on-premise installation is the clear choice.

EPIC Global Solutions and Bally’s have announced a groundbreaking three-year partnership aimed at promoting responsible gaming and making a positive impact on communities. This collaboration positions both organisations as leaders in responsible gaming within the gaming industry.

The partnership between EPIC Global Solutions and Bally’s is driven by a shared commitment to creating safer and more enjoyable gaming environments. By leveraging EPIC’s innovative lived experience approach, the two companies aim to educate multiple partners in the gaming ecosystem, both in the UK and the US.

“Bally’s and EPIC Global Solutions are committed to setting new standards for responsible gaming with a three-year commitment. Together, we are creating safer and more enjoyable gaming environments through educating multiple partners in the gaming ecosystem, harnessing the power of EPIC’s lived experience approach in both the UK and US,” said Robeson Reeves, CEO of Bally’s Corporation.

The partnership will focus on promoting responsible gaming practices and raising awareness about the potential effects of gaming. By emphasising the importance of responsible gaming, EPIC Global Solutions and Bally’s aim to minimise the negative impact of gaming and ensure a more responsible approach within the industry.

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EPIC Global Solutions’ lived experience approach will play a crucial role in this partnership.

Bally’s employees in the US will benefit from bespoke training from EPIC’s lived experience perspective that will be of particular significance to teams on the casino floor or in customer service roles, empowering them to make informed decisions and helping them to better engage with customers with their wellbeing and enjoyment in mind. The two organisations will also engage to create social media and digital campaigns that help to provide clear advice on responsible gaming best practice and the potential consequences of gaming.

“We are excited to partner with Bally’s to drive positive change in the gaming industry. By leveraging EPIC’s lived experience approach, we can make a significant impact on responsible gaming practices globally,” said Paul Buck, EPIC Global Solutions founder and CEO.

The partnership between EPIC Global Solutions and Bally’s represents a significant step forward in promoting responsible gaming and community impact.