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
GiG Media announce rebrand following spinoff announcement from Gaming Innovation Group
New name. New logo. Same great affiliate.
Today marks the day of the official launch of GiG Media’s rebrand following the announcement of the spinoff from Gaming Innovation Group (GiG) platform and sportsbook.
We are pleased to announce that GiG Media has undergone a rebranding process in light of the spinoff and it’s thereof with great enthusiasm that we present our new independent brand, Gentoo Media.
The company will from now on be trademarked under Gentoo Media, and will operate under the name Gentoo.
Whilst introducing our new company name, along with our new logo and visual identity we ensure that Gentoo remains the same great affiliate, with the same great people, and the same great brands that we have become recognised for.
The rebrand marks a significant milestone in the company’s history in becoming a stand alone business in the second half of 2024*, continuing our track record of dominating the iGaming affiliate market with 13 successive quarters with all-time high revenue and strong EBITDA-margin reaching 48% in the last quarter.
Gentoo will continue to focus on our unwavering commitment to deliver superior results, growth and sustainable long-term partnerships, ensuring our partners that with Gentoo, you get more.
Our new company name Gentoo Media pays a tribute to GiG Media’s Rebel Penguin heritage, as Gentoo is an Antarctic penguin species known for prospering by coming together as a unit to survive and thrive. Gentoo further symbolises the next generation of the company’s legacy, opening a new chapter while continuing our path as a market leading affiliate, shaping the future of affiliation.
GiG Media will from today be found under a new array of assets under the Gentoo brand.
“The launch of our new brand is a big milestone for us in the process of separating GiG Media from Gaming Innovation Group. Gentoo has been created with all our partners and employees in mind, ensuring to communicate an accurate and genuine view of ourselves, the business and what we stand for and believe in. The launch of Gentoo marks a new era and we couldn’t be more excited for the future prospects of the business.” – Jonas Warrer, CEO
“The rebrand of GiG Media marks a pivotal moment in the separation of Gaming Innovation Group into two independent businesses, and is a vital step in the process of increasing shareholder value. The launch of Gentoo is a testament to the organisation’s dedication in delivering superior quality and results in every aspect of the business, and is setting the company off to a great start.” – Mikael Harstad, Chairman of the Board
The post GiG Media announce rebrand following spinoff announcement from Gaming Innovation Group appeared first on European Gaming Industry News.
Affiliate Industry
Exciting Changes to the European Gaming Congress 2024: More Value for Operators & Affiliates!
HIPTHER is thrilled to announce a dynamic shift in focus for the upcoming European Gaming Congress (EGC) 2024, taking place in the vibrant city of Warsaw between 15-16 October! Our aim is to better serve our community of operators and affiliates by offering a richer, more diverse range of topics and panels.
While we will continue to provide critical insights with two compliance panels focused on Poland and the combined Nordic + D-A-CH regions, we are expanding our agenda to include exciting new topics that cater specifically to your interests and needs:
Esports: Exploring the rapidly growing world of competitive gaming and its integration with traditional gambling.
SEO: Strategies to optimize your online presence and drive more traffic to your platforms.
Marketing & PR: Innovative approaches to branding, customer engagement, and public relations in the gaming industry.
Fintech: Discovering the latest financial technologies transforming the gaming payment landscape.
Blockchain: Understanding how blockchain technology is revolutionizing transparency, security, and operations within gaming.
Special Offer: 30 Free Tickets for Affiliates and Operators!
To celebrate these exciting changes, we are offering 30 FREE TICKETS exclusively for affiliates and operators. This is your chance to gain invaluable knowledge, network with industry leaders, and stay ahead of the curve in the ever-evolving gaming landscape.
Don’t miss out! Secure your free ticket today and be part of the transformation at EGC 2024.
Claim Your Free Ticket Now: https://hipther.com/events/egc/freetickets-egc2024/
Join us in Warsaw for a groundbreaking event that promises to deliver unparalleled insights, innovative discussions, and exceptional networking opportunities. We look forward to welcoming you to the European Gaming Congress 2024!
Stay tuned for more updates and detailed agenda announcements.
The post Exciting Changes to the European Gaming Congress 2024: More Value for Operators & Affiliates! appeared first on European Gaming Industry News.
Affilka by SOFTSWISS, a leading provider of affiliate management software for iGaming, wins in the Affiliate Software Supplier category at the esteemed EGR B2B Awards 2024.
The EGR B2B Awards celebrate the very best service providers in the online gaming industry. The accolade recognises the achievements of suppliers from across all the major industry spheres, including gaming and betting software, IT and infrastructure, payments and safer gambling tools.
Award-winning Affilka by SOFTSWISS provides top-notch affiliate management software that integrates with any casino, sportsbook, or poker platform, ensuring productive operator-affiliate relationships. Currently, the software powers over 360 brands, having almost 260 thousand affiliate accounts.
The software includes integrated payment systems, which help operators to process payments directly from the Affilka’s back-office in a few clicks. The software also provides interface customisation, multi-product management and dedicated support. Zero setup fees and real-time tracking and reporting also represent significant advantages of the platform.
Vitali Matsukevich, Chief Operating Officer at SOFTSWISS, expresses his pride: “The team is honoured to achieve such a valuable accolade. Our unwavering commitment to pushing the boundaries of possible and changing the iGaming industry for the better through technologies and innovations made this prominent win real. On behalf of the entire team, I extend my heartfelt gratitude to all our partners and clients, whose trust and support fuel our enthusiasm.”
Success at the EGR B2B Awards is the second accolade to the Affilka by SOFTSWISS’ collection in 2024. In March, the company was named the best Affiliate Marketing Solution at the Asia Gaming Awards.
SOFTSWISS was also named as a silver winner in the Sportsbook Platform Supplier category at the EGR B2B Awards. The SOFTSWISS Sportsbook covers 2,000+ unique markets with 100,000+ live events in 200+ sports, including esports and premium cricket. It provides a seamless, secure, and efficient environment for both operators and players.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 20,000 casino games, the Affilka affiliate platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Triumphs at EGR B2B Awards 2024 appeared first on European Gaming Industry News.
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