Affiliate Industry
Raketech Announces Second Quarter 2023 Results
Raketech has announced its financial results for the second quarter of 2023.
Q2 2023 Financial Highlights
- Q2 of 2023 reached an all-time high in terms of revenues, totaling EUR 17.6 million (EUR 11.3 million) with an organic growth of 56.0% (-4.0%).
- A particularly strong development within Sub-affiliation/Network was complemented by continued stable growth within high-margin Affiliation Marketing, primarily driven by continued strong contributions from Casumba.
- Revenues from Betting Tips & Subscriptions were down by 6%, essentially in line with last year, somewhat impacted by currency effects.
- EBITDA, which grew by 45% Y/Y to EUR 5.5 million during the quarter, was positively impacted by the strong development in Casumba.
- The AGM approved a dividend to shareholders corresponding to EUR 0.094 per share. The first of two installments was distributed to the shareholders in May.
Subsequent Events After the End of the Period
- Revenues in July 2023 amounted to EUR 6.9 million (EUR 3.9 million).
CEO Oskar Mühlbach Comments on the Quarter
Raketech continued to deliver strong growth during the second quarter of 2023, with total revenues of EUR 17.6 million, another all-time high for the group, corresponding to an organic growth of 56% Y/Y. A particularly strong development within Sub-affiliation/Network was complemented by continued stable growth within high-margin Affiliation Marketing, resulting in an EBITDA of 5.5 million, up by 45% from the same period last year. Based on the strong first half of the year, we remain confident about our recently upgraded full-year guidance for 2023. Whereof revenues are expected to amount to EUR 65-70 million, excluding acquisitions, EBITDA is expected to come in between EUR 23-25 million and free cash flow is expected to increase to EUR 13-15 million.
Revenues from Affiliation Marketing, our largest business area, accounting for 59% of total revenue, grew by 28%, primarily driven by continued strong contributions from Casumba. Furthermore, the Sub-Affiliation business area, providing SaaS solutions and club commercials to affiliates, had an exceptionally strong quarter, driven by favourable market development, with Latin America and the Nordics leading the way. Revenues from Betting Tips & Subscriptions were essentially in line with last year, somewhat impacted by currency effects.
EBITDA, which grew by 45% Y/Y to EUR 5.5 million during the quarter, was positively impacted by the strong development in Casumba. The EBITDA margin was 31.1%, compared to 33.6% in the corresponding quarter of last year, as an effect of the increased contributions from Sub-affiliation/Network, to the groups’ market and product mix.
During the quarter, AffiliationCloud, our affiliation infrastructure solutions as a service (SaaS) offering, continued to deliver according to our long-term operational plan even though revenue growth was somewhat soft and the business area still is small in absolute numbers, compared to our other business areas. We aim to accelerate growth during the last part of the year.
Our geographical position within Affiliation Marketing remained stable compared to last quarter. But as an effect of our Network business being particularly successful in Latin America and the Nordics our revenues from these markets increased more than others on group level.
The calculation period for the majority of the contingent considerations relating to the acquisition of Casumba is coming to an end in December. The calculation period is 18 months in total and considering there are only 5 months remaining, only exceptional events would lead us to change the provisioned amount for this part of the earnout significantly.
July revenues amounted to EUR 6.9 million (EUR 3.9 million), mainly driven by continued strong growth in Casumba and Sub-affiliation/Network.
Strengthened by the recent successful development in Casumba and Sub-affiliation/Network, I look forward to driving progress within our strategic growth initiatives, focusing on our flagship products, accelerated US growth and AffiliationCloud.
In conclusion, I would like to thank our strong dedicated teams across the globe, helping our clients to stay ahead of the game. I am confident that we are well-placed to leverage the opportunities ahead and position ourselves as the first choice in the growing iGaming affiliation market.
Affiliate Industry
QiH Group CEO Jamie Walters supports London move for iGB L!VE and iGB Affiliate Awards
As the international igaming industry prepares for the July 2025 relocation of iGB L!VE to London, show organisers have received another endorsement of the decision to pair the industry’s fastest growing Tier 1 online gaming expo with the iGB Affiliate Awards – the most respected celebration of excellence on the industry calendar.
Following on from the announcement by Richard Moffat, Chief Executive of OLBG, that the company would be supporting iGB L!VE and the iGB Affiliate Awards with its “biggest ever presence at a conference” Jamie Walters, CEO of QiH Group confirmed his support, stating: “Since QiH entered the iGaming affiliate marketplace a decade ago, industry awards and events have been a huge part of our success as a company – both in making meaningful and lasting connections and in discovering new and inventive industry game-changers.
“While Barcelona is a fine city with many merits, I think the continuity provided by the iGB Affiliate Awards remaining in London and running alongside iGB L!VE will maintain the consistent prestige attached to the event. We look forward to attending and seeing everyone there!”
Naomi Barton, iGB Events’ Global Portfolio Director, said: “The decision to run the Awards as part of the iGB L!VE experience was made in collaboration with key igaming and affiliate stakeholders, and I am delighted that it has been so warmly welcomed by the affiliate community.”
She added: “iGB L!VE’s relocation to London, a city that many regard as being the most influential market in the igaming industry,
will provide visitors and exhibitors with access to new markets, new growth opportunities and new partnerships.
“With an industry that’s growing at an exponential rate it’s imperative that we scale ahead of the market. By moving iGB L!VE and the iGB Affiliate Awards to ExCeL London we will be able to attract more of the people who are most critical to the future development of the igaming industry.”
Affiliate Industry
ReferOn Heading to SBC Lisbon to Share the Latest Insights and Platform Improvements
ReferOn will be represented by Alexia Gauci, B2B Sales Manager, and David Harris, B2B Affiliate Team Manager, at the upcoming SBC Summit in Lisbon from September 24 to 26 2024.
The team recently unveiled several technical and QoL updates to the platform, including improving postback updates, reworking tables and implementing AWS accounts.
At SBC Lisbon, Alexia and David will announce ReferOn’s Q4 updates and walk attendees through the platform’s offerings. By the end of the year, the team plans to implement additions to reporting and data management, improve admin functionality and role management, and add QoL changes such as bulk edits. Visit Stand F430 for more information on these updates.
These system improvements follow two successful ReferOn Insights webinars, during which the team met with operators and affiliates. Following the sessions, attendees had the opportunity to ask questions and share feedback. This approach illustrates one of ReferOn’s core values: two-way communication and its commitment to regularly collaborating with partners to enhance the platform.
When asked for a comment on ReferOn’s participation at SBC Lisbon, Alexia Gauci said, “ReferOn’s participation at SBC Lisbon is an excellent opportunity for further expansion in the industry. Events like these are pivotal for growth and innovation. We’re also very excited to attend the SBC Awards 2024, where we hope to take first place in our respective category.”
ReferOn has been shortlisted for an award at the prestigious SBC Awards 2024 for the “Acquisition and Retention Partner” category. This shortlisting highlights ReferOn’s continued commitment to improving its tools and creating a comprehensive platform for operators and affiliates.
To learn more about ReferOn’s cutting-edge affiliate management system, join Alexia Gauci and David Harris at SBC Lisbon, Stand F430, from September 24 – 26. Book a meeting via our website.
Affiliate Industry
Casino Guru shortlisted in 2 categories for EGR Operator Awards
EGR has revealed the shortlists for the EGR Operator Awards nominating Casino Guru in two categories, “Affiliate of the Year” and “Casino Affiliate.”
Being shortlisted for these prestigious awards highlights Casino Guru’s unwavering effort to build one of the world’s most comprehensive and complete database of casino websites.
The honor of competing against some of the industry’s biggest companies demonstrates Casino Guru’s unfaltering commitment to upholding the best standards as an affiliate company, which focuses on data-driven, fact-checked, and human reviews, as part of a growing database, running in the thousands.
Another integral part of the Casino Guru operations is the website’s commitment to Responsible Gambling and raising safer gambling practices in the industry through the company’s dedicated Gamtegrity platform. Gamtegrity is a multi-faceted effort that naturally underpins Casino Guru’s efforts in providing players and professionals with a better understanding of the pitfalls commonly associated with gambling.
Casino Guru Head of Content Maros Gasparik said: “We are committed to raising the standards in terms of our own website and the value we bring to our visitors, but also in terms of the online gambling industry as a whole – making it better and safer for players. I believe the two nominations reflect these values, and we are always happy to see our efforts being acknowledged by reputable organizations such as EGR.”
The value proposition that Casino Guru builds does not stop with simply reviewing a casino. The process involves a comprehensive behind-the-scenes work where dedicated data teams revisit and review casinos in the library to ensure that the website brings the most up-to-date information that players will ever need to find out about a brand, accounting for local regulation, safer gambling practices, terms and conditions.
The team fastidiously examines each casino’s offer to ensure that it presents consumers with an easy and clear understanding of the value each brand stands to bring. This process is then repeated throughout the year to ensure that the allocated value under the Safety Index, Casino Guru’s advanced rating system, is always accurate.
Casino Guru has repeatedly upheld its core principles of equity, fairness, and transparency, helping players not just read reviews but also mediate issues with casinos. The Casino Guru’s Complaint Resolution Center has already achieved unprecedented success early in 2024, returning $4,905,200 up to July.
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