What Fabamaq does

Fabamaq is a Porto-based software house that develops casino games — primarily video bingos and slots, with table games also referenced — entirely in-house for land-based casino operators across the Americas, Asia, and Europe. Founded in 2003, the company employs 180-230+ specialists (internally termed "Gamers"), has released more than 250 games across 8 game types, and operates in at least 6 international markets including Spain, Mexico, the Philippines, Ireland, Slovakia, Malta, the USA, and China. Its core offering bundles software and hardware, anchored by a specialized Game Math function that models RTP, house edge (typically 4-5%, legally capped at 20%), and payout structures across regulatory regimes, supported by proprietary internal analytics platforms (MixMath portal, Internal Reports Portal) for post-deployment performance tracking.

The company sells through a B2B enterprise go-to-market, licensing games and providing deployment, maintenance, and game math consulting services directly to casino operators; pricing is not publicly disclosed and is negotiated per deal. The revenue model combines one-time licensing with managed services and professional services around mathematical modeling. Fabamaq is privately held with no identified external venture or private equity backing; the Compete 2020 EU co-funded project (€244,172.25 approved, €132,176.32 realized) supported its 2018-2020 internationalization drive that yielded 100% export intensity and an absolute €4M uplift in business volume versus 2016. The technology stack relies on the Godot game engine, in-house proprietary tools, and a recently established Game Intelligence Lab that built the Cassian AI agent for internal productivity and is exploring AI integration across game development workflows.

Name

Fabamaq

Legal name

FABAMAQ - Sistemas Informáticos S.A.

Website

https://fabamaq.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

101–250 employees

Short description

Fabamaq is a Porto-based software house developing in-house casino games — video bingos, slots, and table games — for land-based casino operators across the Americas, Asia, and Europe, with 180+ specialists and 250+ games deployed across 8 game types in 6+ markets.

Ownership category

akta.pro rank

Product category

Casino Gaming Software

NAICS

Gambling Industries (7132)

akta.pro primary industry

Electronic Table Games (ETGs) & Stadium Gaming Terminals (MPAEANAC)

Keywords

• Casino game development
• Video bingo games
• Slot game software
• Land-based gaming
• Game math modeling

Headquarters

HQ city

Porto

HQ country

Portugal

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Casino Game Licensing/Sales: Fabamaq develops and sells casino gaming products (video bingos and slot machines) with both software and hardware components to casino operators globally. Games are deployed to land-based casino floors.
2. Game Deployment and Maintenance: Ongoing deployment, monitoring, and optimization of games in casinos with performance tracking through internal analytics tools.
3. Game Math Consulting: Mathematical modeling services ensuring games meet regulatory requirements, operator financial targets, and player experience standards.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Fabamaq is a Porto-based software house that develops casino games in-house for land-based casino operators worldwide. The company's core products are video bingo games and slot games (with table games also mentioned), produced end-to-end in-house covering math, art, sound, software, and hardware. The company has released 250+ games across 8 game types and operates in 6 international markets.

Product overview

Fabamaq is a Porto-based software house that develops casino games in-house for global land-based markets across America, Asia, and Europe. The core product portfolio consists of Video Bingo games and Slot Games, with Table Games also mentioned as part of the offering. The company operates with approximately 180+ employees and has released 250+ games across 8 game types in 6 markets. The development process integrates mathematics, art, sound, design, and engineering, with internal tools like the Cassian AI agent for productivity and the MixMath portal for game performance analytics. Fabamaq's House of Games represents the collaborative creation of competitive casino products combining software and hardware, with top-tier game features, engaging graphics, and player-focused design.

Differentiator

Problem solved

Functional benefit

Products and services

• Video Bingo Games
• Slot Games
• Table Games

Quantifiable outcome

• Games maintain 4-5% house edge within 20% legal cap, ensuring operator profitability
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability12 records

Feature5 records

Partnerships

One partnership is on record.

• Team24supportOthers · 1 October 2024Mental health support partnership providing free psychotherapy sessions (video consultations 9AM-8PM), psychological hotline, and confidential chat support (9AM-midnight) for all Fabamaq employees. Also provides mental health workshops and content.

Scale indicators10 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Inspired Entertainment: Mid-cap provider of gaming content, terminals and software for land-based and digital betting markets, with a strong slot and server-based gaming portfolio. Directly comparable in operating model (content developer + hardware) and customer base (casino and betting operators).
• Konami Gaming: US-based subsidiary that develops slot machines and casino management systems for land-based operators worldwide. Comparable as a slot-machine content developer that sells both software and physical cabinets into casino floors.
• AGS (American Gaming Systems): US-listed gaming equipment and content supplier focused on slot machines, table products and online games for casino operators. Comparable in product mix (slot + table content + cabinets) and B2B land-based GTM, although at larger scale.
• Zitro: Spanish gaming content and equipment manufacturer with a video bingo and slot portfolio deployed in land-based casinos globally. Closest analog to Fabamaq by product mix (video bingo + slots) and channel (B2B land-based), but at significantly larger scale.
• EGT (Euro Games Technology): Bulgarian manufacturer of slot machines, video lottery, and casino cabinets that sells land-based gaming equipment internationally. Comparable to Fabamaq as another European-based B2B supplier of slots and electronic gaming terminals to land-based operators.
• Merkur Gaming: German-based manufacturer of slot machines, casino cabinets, and gaming terminals distributed across European and international land-based markets. Closely comparable product mix (slot + cabinets) and European-led international GTM.

Broad incumbents

• IGT (International Game Technology): Global incumbent across slot machines, casino systems, lottery and digital gaming that supplies the largest operators worldwide. Provides the strategic barometer for Fabamaq's addressable market and operator procurement dynamics but operates at materially larger scale.
• Novomatic: Austrian gaming equipment giant with one of the broadest land-based slot and casino-content portfolios and global operator relationships. Overlaps with Fabamaq across video slots and casino cabinets but operates at much greater scale across more verticals including online.
• Aristocrat Leisure: Australian gaming giant with a global land-based slot content and cabinets business plus a large digital/iGaming segment. Comparable in slot-machine product and global operator footprint but materially larger and more diversified than Fabamaq.
• Scientific Games: Global supplier of casino content, systems, lottery and sports betting products to land-based and digital operators. Overlaps with Fabamaq in slot content and casino systems but at much greater scale across lottery, sports betting and digital.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UC_QhrpB0Slyud3j-09L6vbw
• Facebookfacebook.com/fabamaq
• LinkedInlinkedin.com/company/fabamaq
• Instagraminstagram.com/fabamaq

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fabamaq