Johan Svensson reinstated as permanent CEO of Raketech
Since Oskar Mühlbach resigned as CEO in January, Johan Svensson has been leading Raketech in an acting capacity.Raketech co-founder Johan Svensson served as the...
Raketech obtains US affiliate site American Gambler
The affiliate marketing platform has acquired American Gambler in a strategic move to increase growth
Raketech will be acquiring the affiliate site for a fee of $5.9 million, also seizing several state assets that will help speed up their growth. The fee will be resolved with cash and the funds that were raised by selling Raketech’s consumer finance assets, which will then go to ROI Media UK. It is estimated that revenue from the US will be reaching anywhere from 5% to 10% of full-year revenue in 2020 thanks to the purchase.
“The acquisition of American Gambler is an important strategic move for us, shifting the US from a strategic target to a strategic market,” said Oskar Mühlbach, Raketech chief executive.
And by expanding the American Gambler’s service offering to more and more states with the support from our strong core operations team and technology platform, I foresee great opportunities for growth.
American Gambler founder Alexander Kostin said:
With this partnership American Gambler have secured both financial muscles and a strong infrastructure in order to become one of the leading brands on the US market. I am happy that Raketech identified the potential in American Gambler and gave a helping hand to realize its full potential for years to come.
“The divestment of the consumer finance assets is an important and natural step for us to ensure sharp focus on iGaming,” Mühlbach explained. “Furthermore, it gives us additional ammunition for growth through M&A – where we see high potential – on strategic markets such as the US.
“In only a few years we have managed to grow our finance assets into one of the key portfolios within its niche, on the Scandinavian market, but I am confident that ROI – with its dedication to the Financial affiliation market – is the right partner to take the assets to the next level.”
Raketech’s Q2 revenue surpasses €17m
The second quarter of the year was quite successful for Raketech.The company’s revenue of 17.6 million euros in the second quarter of the year set a new record for the...
