Soft2Bet Publishes First Growth Report, Focusing on EBITDA and Developments
The leading iGaming turnkey solutions provider announces doubled year-on-year EBITDA growth, reveals 2024 milestones and shares insights from top industry thought leaders.
SLIEMA, Malta, Jan. 14, 2025 /PRNewswire/ -- Soft2Bet, a leading B2B turnkey solutions provider, has unveiled its 2024 Growth Report, highlighting financial and compliance success, product innovation, industry recognition and insights from key iGaming figures. The company achieved doubled EBITDA year-over-year and a significant increase in consolidated group revenue, reflecting its expansion in regulated markets and leading product innovation.
To sign up to review the 2024 Growth Report, please visit https://www.soft2bet.com/report
Market Expansion
In 2024, Soft2Bet secured B2C and B2B licenses in Ontario, Mexico, Sweden, Greece, and Romania, expanding its regulated market presence. The company also finalised turnkey deals in Mexico and Nigeria, secured its first MEGA partnership in Europe and made strides toward entering New Jersey and Spain to cement its leadership in iGaming.
"At Soft2Bet, we have redefined traditional gamification through our leading MEGA solution driving player engagement. This cutting-edge strategy has significantly impacted our brand's performance, received industry recognition, driven sustainable revenue growth and showcased stronger ROI while successfully expanding into new markets," stated Uri Poliavich, Soft2Bet's Founder and CEO.
Financial Performance
Soft2Bet retained its trajectory regarding the expansion of its licensed footprint across new markets in Europe and beyond. Its financial success was fueled by its innovative B2B solutions, with 2024's EBITDA projected to double from previous periods.
Product Innovation and Development
Enhancements to Soft2Bet's Motivational Engineering Gaming Application (MEGA) and AI-driven tools have contributed to the company's financial growth in 2024. MEGA, now available as a standalone solution, resulted in a 65% increase in Net Gaming Revenue (NGR), a 45% rise in Average Revenue Per User (ARPU) and a 50% growth in deposit amounts.
Widespread iGaming Recognition
Soft2Bet's relentless innovation and expansion spearheaded its commercial success, earning it industry-wide acclaim. In 2024, the company secured 38 award nominations, a 322% increase from the previous period and 10 accolades for product innovation (a 233% increase).
Corporate Social Responsibility (CSR)
Soft2Bet's commitment to Corporate Social Responsibility (CSR) supported nine initiatives in 2024. As a result, the company donated over €821,000 to seven NGOs and aided 34 organisations and donors through projects like blood drives, community cleanups, breast cancer awareness sessions and village revitalisation initiatives.
Contributions to Gaming
Soft2Bet Invest, a €50 million iGaming innovation fund for iGaming and casual gaming entrepreneurs, supports initiatives in AI, UX analytics and high-margin gaming solutions. In September 2024, the fund earned the "Outstanding Contribution to the Gaming Industry 2024" award for its impact through technological innovation, mentoring and investment.
About Soft2Bet
Soft2Bet is a leading iGaming turnkey solutions provider that delivers high-quality products and services for online gambling operators. The company is known for its Motivational Engineering Gaming Application (MEGA), a casino and sports betting solution that has been proven to enhance retention and engagement. Soft2Bet has deployed numerous successful iGaming brands and holds more than 13 global licenses.
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