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Raketech Announces Q1 2024 Results
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.
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Spinmatic’s premium Slots now live with ElaBet in Greece

Spinmatic, leading developer of premium casino games and part of Softquo Holding, is proud to announce its latest strategic partnership in Greece. The company’s most popular Slots and Crash games are now live on ElaBet, the fast-growing online platform operated by Soft2Bet.
This collaboration marks a key milestone in Spinmatic’s European expansion. Following the successful certification of its games for the Greek market last year, Spinmatic has continued to build its local presence. The partnership with ElaBet strengthens that growth, bringing Spinmatic’s high-quality titles to an even broader Greek audience.
ElaBet has quickly earned a reputation for delivering localised content and gamified player experiences tailored to the Greek market. This shared focus on innovation, quality and entertainment makes it an ideal partner for Spinmatic.
“Greece is a competitive market, no doubt – but we believe in the quality of what we do. Partnering with ElaBet is a fantastic step forward. They’re building something innovative and powerful for local players and we’re proud to be part of that growth,” said Norbert Mathies, Managing Director at Spinmatic.
Thanks to Spinmatic’s Remote Gaming System and seamless API integration, ElaBet can now offer players a smooth, mobile-first experience that meets all local compliance requirements while enhancing user satisfaction.
“This launch with ElaBet Greece marks a fresh and exciting chapter for Spinmatic’s premium content. ElaBet is a brand on the rise – bold, modern, and sharply focused on what Greek players want – and that makes them the perfect partner for us at this stage of our journey. Through this collaboration, we’re bringing into the hands of the Greek players community, tailored content, certified under HGC and built for mobile-first entertainment. This is more than just a content launch – it’s a statement of intent. We’re here to grow, engage and contribute to a stronger, more dynamic igaming scene in Greece. The best is yet to come.”
Vassileios Efthymiou, Softquo’s Country Director for Greece.
Through this partnership, Greek players now have access to a range of Spinmatic’s top-performing titles, including 3 Amigos Jackpot, Cosmomix, Egyptian Stone, Ed Jones and the Book of Bastet Deluxe and the high-speed crash game Meteoroid Deluxe. Each title is designed to deliver immersive, cinematic gameplay optimised for mobile devices.
Spinmatic’s presence in Greece continues to grow, with additional partnerships and localised content set to follow. For more information about Spinmatic’s offering in Greece, visit their website.
The post Spinmatic’s premium Slots now live with ElaBet in Greece appeared first on European Gaming Industry News.
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Kind request for publication of a press material regarding EGT Digital’s partnership with Pepeta (Kenya)

EGT Digital is thrilled to announce its collaboration with the prominent Kenyan operator Pepeta. Thanks to the provider’s Gaming Aggregator, pepeta.com customers can now enjoy the hit slot titles from the Bell Link, Clover Chance, High Cash, Single Progressive Jackpot, and Gods & Kings Link jackpots.
“We are very impressed with the performance of EGT Digital’s products, especially Bell Link and Clover Chance, which immediately caught the attention of our players and became their favorites,” said Joseph Mbugua, Kenya Country Manager of Pepeta. “I believe that our cooperation with the Bulgarian company will fully unleash its potential in the coming months, continuing to deliver remarkable results for us and our clients.”
Zsuzsanna Zeibig, Sales manager for Africa at EGT Digital, also shared her positive expectations regarding the partnership, stating that “it is of strategic importance for positioning our company as a leader not only in Kenya, but also in the region as a whole.” She concluded: “I would like to thank Pepeta for placing their trust in us. I am confident that together we will be able to further enhance the gaming experience of local players, providing them with access to innovative gaming solutions at a world-class level.”
The post Kind request for publication of a press material regarding EGT Digital’s partnership with Pepeta (Kenya) appeared first on European Gaming Industry News.
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PG Soft named as key sponsor at SiGMA Euro-Med 2025

PG Soft, a world-class digital mobile games company, has been confirmed as a key sponsor for SiGMA Euro-Med 2025, taking place from September 1st – 3rd at the Mediterranean Maritime Hub (MMH).
The sponsorship ensures PG Soft’s brand takes centre stage across the three-day event, with prominent visibility at the registration desk, the Welcome Arch, and on large HD entrance screens.
PG Soft will also serve as Title Sponsor for the SiGMA Gaming Awards, with branding featured throughout the ceremony and across SiGMA’s digital channels.There will be more than 12,000 delegates attending Valletta’s event for what promises to be an invaluable meeting of the minds, connecting the global iGaming community in the heart of the Mediterranean.
PG Soft’s spokesperson commented: “SiGMA Euro-Med is a major date on the iGaming calendar each year that draws industry leaders from across the globe. We’re proud to sponsor such a prestigious event and look forward to showcasing our brand to this influential audience.”
The post PG Soft named as key sponsor at SiGMA Euro-Med 2025 appeared first on European Gaming Industry News.
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