#iGaming #Sliema #Soft2Bet #EBITDA

Soft2Bet Releases First Growth Report for 2024

Soft2Bet, a prominent B2B turnkey solutions provider in the iGaming sector, has published its inaugural Growth Report for 2024. The report features a substantial focus on financial and compliance achievements, product advancements, and testimonials from industry experts.

A key highlight of the report was Soft2Bet's impressive performance, showcasing a year-on-year doubling of EBITDA. This remarkable growth is indicative of the company's strategic initiative to expand within regulated markets, all while driving product innovation forward. The strong figures not only reflect financial stability but underscore Soft2Bet's evolving reputation in the competitive iGaming arena.

Market Expansion

In 2024, Soft2Bet achieved significant milestones by obtaining B2C and B2B licenses in regions such as Ontario, Mexico, Sweden, Greece, and Romania. These moves solidified its footprint in regulated markets and allowed the company to make substantial strides toward securing partnerships in growing economies like Mexico and Nigeria. Furthermore, notable advancements were made toward establishing a presence in the U.S. market with plans to enter New Jersey and Spain, marking a strategic aim to enhance its leadership position in the iGaming industry.

Uri Poliavich, the Founder and CEO of Soft2Bet, commented on the company's efforts, expressing, "At Soft2Bet, we have redefined traditional gamification through our leading MEGA solution which drives player engagement. This cutting-edge strategy has significantly impacted our brand's performance and showcased stronger ROI while successfully expanding into new markets."

Financial Performance

Undoubtedly, Soft2Bet's financial trajectory remains bullish, reflecting consistent growth in its licensed presence in both Europe and beyond. The company's inventive B2B solutions were critical for driving this success, with projections suggesting that EBITDA for 2024 will double from prior levels. These insights portray a robust outlook, instilling confidence among stakeholders.

Product Innovation and Development

Continual enhancements to Soft2Bet’s proprietary Motivational Engineering Gaming Application (MEGA) and the implementation of AI-driven tools played a pivotal role in harnessing the company’s financial progress. MEGA's reconfiguration into a standalone product led to an impressive 65% increase in Net Gaming Revenue (NGR), a 45% rise in Average Revenue Per User (ARPU), and a 50% growth in deposit amounts. These product innovations illustrate a flourishing environment driven by technology, attracting both gamers and operators alike.

Widespread iGaming Recognition

Soft2Bet's relentless pursuit of innovation and market expansion has not gone unnoticed. In 2024, the company received a staggering 38 award nominations - a dramatic 322% increase compared to the previous year. Among these, 10 were accolades for product innovation, effectively a 233% surge demonstrating how well the industry perceives Soft2Bet's contributions.

Corporate Social Responsibility (CSR)

In demonstrating its commitment to Corporate Social Responsibility, Soft2Bet supported nine various initiatives throughout 2024. The company made impressive donations amounting to over €821,000 directed toward seven NGOs, coupled with aiding 34 organizations with community-based projects, such as blood drives and revitalization programs in rural regions. This commitment underscores Soft2Bet's dedication beyond profit, contributing meaningfully to societal welfare.

Contributions to Gaming

Also, Soft2Bet launched an iGaming innovation fund, ‘Soft2Bet Invest’, valued at €50 million, designed to empower entrepreneurs in the iGaming and casual gaming sectors. This fund aims to bolster projects focused on AI, user experience analytics, and high-margin gaming solutions. Notably, in September 2024, the fund earned the title of