Raketech’s Success in US and Japanese Markets
The award-winning iGaming affiliate company Raketech has published its first quarterly report of 2021. According to the report, the company’s annual growth was 27%. Moreover, the growth was based on Raketech’s success in Japanese and US markets.
The affiliate’s total profit increased by 1.8mln EUR. Income from the sports sector of Raketech increased its share in the company’s revenue as well as demonstrated strong annual growth of 27%.
Continuing the trend of the last year’s online casinos brought the most profit to the company. Earnings from casinos are more than 80% of Raketech’s overall revenue. They have increased by 4% compared to the same time of the last year.
The company’s earnings before interest and taxes increased by 0.2mln EUR and reached 1.6mln EUR. Earnings Before Interest, Taxes, Depreciation (EBITA) indicator was also improved and reached 3.2mln EUR thus increasing by 0.8mln EUR compared to the Q1 of 2020.
Raketech proudly notes that its recent success in non-Scandinavian markets was reflected in the Q1 numbers — the company’s non-Scandinavian income increased by 35% and the Japanese market played a key role in it. Raketech’s key performance indicators in Japan were the best among all the regions.
The major sports events in the USA, in particular National Football League’s finale, coincided with the company’s entry to 2 states where it had just got licensed. The report notes that those 2 events shaped the company’s performance results in the USA.
Last year the majority, more than 50%, of Raketech’s profit was generated and Sweden. The company’s well-planned and executed market diversification strategy lowered the Swedish market’s share in Raketech’s revenue to 38%.
The report stresses that success in the USA and Japan helped to lower the company’s reliance on its home market.
Japanese and US market shares on Raketech’s total revenue were 6 and 11 presents respectively. Raketech believes that it’s only the start of their continual growth in the US and Japanese market is a pioneer among the group’s regional divisions.
Raketech group’s spending increased by more than 1mln EUR compared to Q1 2020. The expenditure was justified because the new acquisitions are considered to be the core factors of Raketech’s increased profit.
Nevertheless, Raketech recognized that an increase in profits as a result of its M&A strategy was partially offset by the reduction of income after disposal of consumer finance assets in the Q4 of 2020.
It was noted that the change in iGaming regulations and slow times for sports also contributed to the task to lower its dependence on the Nordic markets.
The Chief Executive Officer of Raketech, Mr. Oskar Mühlbach commented on the Q1 report of the company saying that they are satisfied with the stable growth that they managed to achieve even though the American sports life was slow during the last month of the quarter.
Mr. Mühlbach is positive about the group’s success during Q2 and is sure that they will be able to utilize the opportunities given by the major football events in the European football calendar.
During the latest annual general meeting of Raketech, Mr. Christian Lundberg decided to leave the post of the head of the Board of Directors leaving the place in Mr. Ulrik Bengtsson’s capable hands. In his statement, Mr. Mühlbach thanked the retiring Chairmen and welcomed Mr. Bengtsson’s election.