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LAS VEGAS - High Roller Technologies, Inc. (NYSE: ROLR), a prominent online gaming operator with a market capitalization of $19 million, announced today the appointment of Adam Felman as its new Chief Financial Officer, effective immediately. Felman succeeds Matt Teinert, who has been credited with guiding the company through its initial public offering and NYSE listing since May 2023. According to InvestingPro data, the company’s stock has declined over 70% since its listing, reflecting significant market challenges.
Adam Felman brings a wealth of experience from his time at Digital Gaming Corporation, where he served as CFO and Member of the Board of Directors until its B2B assets were sold in 2024. His transition from private to public company operations began after the sale of Digital Gaming Corporation to Super Group in 2023. Felman, a Chartered Accountant, began his career at Hazlems Fenton LLP and holds a Joint Honors degree in Mathematics and Business from Aston University. His appointment comes at a crucial time, as InvestingPro analysis indicates the company faces cash burn challenges despite maintaining a healthy gross profit margin of 56%.
Ben Clemes, CEO of High Roller, expressed confidence in Felman’s expertise in gaming and public markets, anticipating that it will be crucial for the company’s next phase of growth. Felman himself is excited about the company’s strategic vision and growth potential.
High Roller Technologies, known for its High Roller and Fruta online casino brands, offers a platform with over 5,000 games from more than 90 game providers. The company is recognized for its user-friendly, real-money online casino platform, enhanced with features like search engine optimization, machine learning, and seamless API integrations. With annual revenue of $28.15 million, the company shows potential despite its current "WEAK" financial health score according to InvestingPro’s comprehensive analysis, which offers investors access to 12 additional key insights about the company’s performance and prospects.
The company’s forward-looking statements indicate an optimistic outlook, although they caution that they are based on current beliefs and expectations, subject to inherent uncertainties and factors outside of the company’s control. These statements are made with the information available as of today and may change in the future.
This leadership change announcement is based on a press release statement from High Roller Technologies.
In other recent news, High Roller Technologies reported its financial results for the first quarter of 2025, revealing a 4% increase in revenue to $6.8 million. Despite this growth, the company experienced a widening net loss of $3.3 million, attributed primarily to a 50% increase in marketing expenditures. The company is focusing on strategic market entries, particularly in the regulated markets of Ontario and Alberta, as part of its expansion plans. High Roller Technologies is also exploring the addition of sports betting to its portfolio, which could potentially enhance its revenue streams. The company has submitted its licensing application for Ontario and is preparing for a market launch in the second half of 2025, pending regulatory approvals. In addition to these developments, High Roller Technologies added 750 new games and 30,000 new active depositing customers in the quarter. The company’s leadership has expressed confidence in its strategic direction and future prospects, citing strong capital positions and strategic partnerships. The firm is optimistic about improving cash flow and margins in the latter half of 2025.
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