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High Roller Technologies Announces Financial Results for the Three Months Ended September 30, 2024

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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.

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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.

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.”

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New Zealand Thoroughbred Racing and 1/ST Unveil Partnership to Elevate Global Thoroughbred Racing

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New Zealand Thoroughbred Racing (NZTR) is excited to announce a transformative partnership with 1/ST, the premier North American Thoroughbred racing, gaming and entertainment company. Known for its iconic venues, including Santa Anita Park (California) and Gulfstream Park (Florida), 1/ST is a leader in modernizing horse racing by blending live racing with innovative gaming, hospitality and lifestyle experiences.

As leaders of world-class racing, hospitality and entertainment events, 1/ST is also committed to advancing racing’s global profile through cutting-edge technology and international collaboration. This partnership brings a unique opportunity to connect three prestigious racedays: Auckland Thoroughbred Racing’s Champions Day (March 8 – featuring The G1 Bonecrusher New Zealand Stakes, named after legendary 1987 Australian Horse of The Year Champion and NZ Hall of Famer, Bonecrusher) alongside 1/ST’s Pegasus World Cup (January 25) and California Crown (September 27).

This collaboration will introduce “Golden Ticket” pathways, offering the winning horses direct entry into marquee races including:

From the Pegasus World Cup (25 January 2025) to Champions Day (8 March 2025):

  • The US$500,000 Group 2 Pegasus World Cup Filly & Mare Turf (1600m) winner earns entry to the NZ$600,000 Group 1 World Pool New Zealand Thoroughbred Breeders’ Stakes (1600m).
  • The US$1,000,000 Group 1 Pegasus World Cup Turf (1800m) winner gains entry to the NZ$1,000,000 Group 1 Bonecrusher New Zealand Stakes (2000m).

From Champions Day (8 March 2025) to California Crown (27 September 2025):

  • The NZ$500,000 Rich Hill Stud Champion Middle Distance Series winner secures a Golden Ticket to the US$750,000 Group 1 California Crown John Henry Turf (2000m).
  • The NZ$500,000 Sport Nation Champion Sprint Series winner earns entry to the US$750,000 Group 2 California Crown US$750,000 Eddie D Turf Sprint (1300m).

To further enhance the partnership, NZTR and 1/ST will cover travel and freight costs for Golden Ticket-winning horses travelling internationally to compete in the respective countries.

“This partnership marks an exciting milestone in showcasing New Zealand racing on the world stage,” commented Chief Operating Officer of NZTR, Darin Balcombe. “The Golden Ticket concept creates a unique pathway for international competition, enriching the experience for racing participants and fans alike.”

Aidan Butler, President of 1/ST, added: “This partnership with NZTR exemplifies our commitment to elevating Thoroughbred racing globally. By linking these iconic racedays and supporting international competition, we’re looking to drive innovation, collaboration and global excitement in the sport.”

Lachlan Fitt, Deputy CEO of Entain Australia and New Zealand, operators of the NZ TAB, also welcomed the announcement:

“Congratulations to NZTR and 1/ST on reaching this exciting outcome. The partnership will continue the opportunity for NZ racing to be showcased to racing fans globally and is another new pathway for NZ racing participants to consider. And through our Trackside and Sport Nation media brands, we look forward to bringing the best of US racing to our wagering customers in NZ.”

This partnership paves the way for significant growth in Thoroughbred racing across both regions, with both NZTR and 1/ST excited to build on this promising foundation moving forward.

For more information about the partnership and Golden Ticket races, contact NZTR’s Head Handicapper Bruce Sherwin by emailing [email protected].

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SOFTSWISS Game Aggregator Certified for Peru Market

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SOFTSWISS Game Aggregator earns Peru certification, aligning with new regulations. Explore its leadership in iGaming innovation and expansion in Latin America.

SOFTSWISS has successfully obtained compliance certification for the Peruvian market for its Game Aggregator, the largest content hub in the iGaming sector. This milestone solidifies the company’s position as one of the first technology providers ready to work under the country’s new regulatory framework.

As part of Peru’s revised Regulatory Framework, initiated in February 2024, all operators, platforms, game providers, and technical suppliers are required to obtain certification by 1 January 2025 to legally operate in the market. SOFTSWISS achieved this certification through GLI, an accredited testing laboratory, ensuring that its product meets all technical and legal requirements set by Peruvian authorities.

The Peruvian gambling market is among the fastest-growing and most promising in Latin America, with projections estimating a CAGR of 5.97% and a market volume of USD 420.60 million by 2029. Furthermore, smartphone penetration is expected to hit 77.78% by the same year, providing significant opportunities for the iGaming industry.

“The newly regulated framework is set to attract international gaming companies and investors, paving the way for further expansion in the iGaming sector,” said Max Trafimovich, CCO at SOFTSWISS. “We’re proud to be among the first companies to complete the necessary procedures and be fully prepared for this promising market.”

This achievement comes shortly after the SOFTSWISS Game Aggregator’s certification in Brazil, showcasing the company’s ambitious plans to expand and strengthen its leadership across the Latin American region.

Currently, the SOFTSWISS Game Aggregator boasts the largest game portfolio in the market, offering over 27,000 titles, alongside consistent 99.999% uptime and top-tier services. According to a recent Kantar survey conducted in November 2024, the product received an overall satisfaction score of 8.1 out of 10 from its clients, underscoring its reputation as a reliable and industry-leading solution.

By obtaining certification in Peru, SOFTSWISS continues to demonstrate its commitment to compliance, innovation, and delivering premium services in rapidly evolving markets.

The SOFTSWISS team will be available to discuss partnerships in Brazil and other markets at the first major iGaming event of 2025 – ICE Barcelona, taking place on 20–22 January, at stand 2G42.

 

About SOFTSWISS

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SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

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Compliance Updates

EGT Digital is a licensed software provider for Brazil

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EGT Digital is proud to announce that it has obtained a licence that allows it to provide its software products in Brazil. The Bulgarian provider was certified by the regulator Secretariat of Prizes and Bets (SPA) and can now offer local operators its rich portfolio of gaming solutions, containing over 120 in-house developed casino titles and the 4 top-performing jackpots Bell Link, High Cash, Clover Chance, and Single Progressive Jackpot.

Tsvetomira Drumeva, Head of Sales at EGT Digital, shared her excitement regarding the authorization: “We are delighted to have the opportunity to present our gaming content to the Brazilian market. Our slots are available to domestic players, ready to captivate them with their numerous fascinating features and provide an unforgettable experience, fully tailored to their tastes and preferences.”

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