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Raketech interim report Q2 2020

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Raketech interim report Q2 2020
Raketech interim report Q2 2020Reading Time: 3 minutes

 

QUOTE FROM OSKAR MÜHLBACH, CEO
“The strong operational development for Raketech continued during the second quarter of 2020 with several initiatives launched and improved, resulting in a stable product portfolio performance for the quarter. Q2 revenues amounted to 7.0m EUR compared to 5.7m EUR the same quarter previous year, representing a growth of 24.1%. EBITDA margin amounted to 40.2% compared to 51.1% previous year as an expected effect of the Lead Republik revenues having slightly lower margin as well as our efforts within geographical expansion – in line with our strategic goals.”

SECOND QUARTER 2020

  • Revenues totalled EUR 7.0 million (EUR 5.7 million) representing an increase of 24.1%
  • NDCs (New Depositing Customers) amounted to 40,847 (24,974), representing an increase of 63.6%
  • EBITDA amounted to EUR 2.8 million (EUR 2.9 million), corresponding to a margin of 40.2% (51.1%)
  • Operating profit amounted to EUR 1.5 million (EUR 2.0 million), corresponding to a margin of 21.8% (35.1%)
  • Profit for the period amounted to EUR 1.2 million (EUR 1.7 million)
  • Earnings per share amounted to EUR 0.03 (EUR 0.04)

FIRST SIX MONTHS 2020

  • Revenues totalled EUR 13.6 million (EUR 12.1 million) representing an increase of 12.0%
  • NDCs (New Depositing Customers) amounted to 73,125 (53,582), representing an increase of 36.5%
  • EBITDA amounted to EUR 5.5 million (EUR 6.4 million), corresponding to a margin of 40.2% (52.7%)
  • Operating profit amounted to EUR 2.9 million (EUR 4.8 million), corresponding to a margin of 21.4% (39.5%)
  • Profit for the period amounted to EUR 2.3 million (EUR 6.4 million, adjusted EUR 4.1 million)
  • Earnings per share amounted to EUR 0.06 (EUR 0.17)

EVENTS DURING SECOND QUARTER 2020

  • No significant events during the second quarter

SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD

  • Revenues of EUR 2.4 million in July 2020

CEO OSKAR MÜHLBACH COMMENTS ON THE QUARTER

“As expected, we witnessed a significant drop within our sports related products due to Covid-19 and the decreased traffic to these assets as an effect of cancelled sport events. This is something we expect, and to some extent already are able to witness, will regain traction again once sports return back to normal. Organic growth was -1.2% which considering the challenging sports market conditions was made possible thanks to strong performance from our portfolio of casino assets, with Norway and Sweden leading the way.

Working remotely during Covid-19 has in contrast to what one might believe, proven to be very efficient for us and we have been able to notice improvements with regards to cooperation, communication as well as performance management. We have therefore decided to permanently move into a flexible working setup in which we replace the traditional office with a dynamic interaction hub combined with remote work. In addition to spending less on office related costs and administration the concept allows us to quickly scale up and down according to what is best at every given situation.

I wish to mention a few examples of initiatives developed and delivered by the remote organization during the quarter: Howtobet.com – a full sports wiki for nerds and beginners, with global potential in line with our strategic operational goals of adding Flagship products to our portfolio as well as to gradually increase our presence within other gambling verticals than casino – such as sports betting. We have also launched a completely new product line called “Extended Audience” which is an important milestone with regards to our strategic goal to diversify our offering. So far, we have sold the Extended Audience product to one of the major operators on the Swedish market, but we are in dialogue with several more.

We have furthermore secured our 3rd license in the US, in the state of Colorado. We have also received preliminary positive decisions from both Pennsylvania and West Virginia which we expect to receive the final approval from soon.

Revenues for July amount to 2.4m EUR, despite sports still trailing behind due to Covid-19. Activity was high, following the temporary re-regulations on the Swedish market. Despite us significantly increasing our revenues from outside the Nordics to close to 20%, the volatility on the Swedish market due to the re regulations makes it challenging to navigate. Although volatility might be high, I am excited by the combination of Raketech being both debt free and operationally stronger than ever. This allows us to continue our efforts to deliver on our strategic goals within product development and diversification as well as geographical expansion, organically and through M&A.

PRESENTATION FOR INVESTORS, ANALYSTS AND THE MEDIA

CEO Oskar Mühlbach and CFO Måns Svalborn will present the report and answer questions in an audiocast at 10.00 a.m. CEST on 19 August. The presentation will be held in English and can be followed online via https://tv.streamfabriken.com/raketech-q2-2020. To participate by phone, please dial +46 8 5055 8357 (SE) or +44 3333 009 263 (UK).


Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: Raketech interim report Q2 2020

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Push Gaming enjoys further Spanish market growth with Bally’s Interactive

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B2B gaming supplier Push Gaming has significantly amplified its European presence, launching its portfolio of hit titles in Spain with the prominent operator Bally’s Interactive. This strategic move is part of the studio’s broader growth strategy to appeal to a wider range of markets and player profiles.

Bally’s Interactive now has access to a variety of Push Gaming titles, including legacy hits such as Jammin’ Jars and Wild Swarm, along with all of the supplier’s expansive roadmap of high-quality new games like recent hit Wild Swarm Triple Hive

The Spanish activation builds upon an already robust collaboration between the two across the highly competitive UK market. Push Gaming is strategically focused on supporting its partners in newly regulated and key existing markets to achieve significant market share.

This latest launch will enable Push to further harness the impact of iGaming in Spain. According to the latest reports from the national regulator Dirección General de Ordenación del Juego (DGOJ), 2024 saw record-breaking performance with GGR reaching a high of €1.45 billion, representing a substantial 17.6% increase from the previous year. Online casinos were the primary source of this revenue, generating €730.7 million in GGR (up 17%), with slots contributing €472.2 million.

This partnership showcases Push Gaming’s commitment to expanding its reach across key regulated global territories and driving the Push Gaming brand in line with its ambitious growth strategy.

Joanna Wren, Senior Commercial Operations Manager at Push Gaming, said: “Launching our portfolio in Spain with Bally’s Interactive continues our growth in Europe. Strengthening our partnership with this top-tier operator boosts our confidence for a successful future in the region.

“Our goal is to achieve significant market share by developing our game range to suit a wide variety of player profiles while maintaining the high quality we are known for. We’re confident that our established localisation strategy, combined with our exciting slot content and Bally’s Interactive’s outstanding support, will ensure our titles resonate strongly with players and drive significant growth in the region.”

Richard Harris, CCO at Bally’s Interactive, said: “We are excited to introduce Push Gaming titles to our platform and are proud to host its brand in Spain. Its games align perfectly with our commitment to providing Spanish players with the highest quality and most entertaining casino content.

“Given the impressive performance of Push Gaming’s titles with our UK brands, we believe its content will attract players and help maintain our success in this vibrant market.”

The post Push Gaming enjoys further Spanish market growth with Bally’s Interactive appeared first on European Gaming Industry News.

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Betandyou supports the Legends Charity Game in Lisbon

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Betandyou is proud to announce its support for Legends Charity Game, a spectacular charity football match taking place at the iconic José Alvalade Stadium, bringing together over 50,000 fans in the stands and millions more watching online and on TV across the globe.

This is more than just a match, it’s a historic meeting of football legends. The pitch will host some of the greatest names in football history, including Kaká, Roberto Carlos, Carles Puyol, Del Piero, John Terry, Michael Owen, Petr Čech, and many others. Led by Peter Schmeichel and Diego Lugano, the World Legends will face the Portugal Legends, delivering a once-in-a-lifetime football spectacle.

But the true goal is charity. The event aims to raise over €1,000,000 to support children and families in Ukraine, Portugal, and around the world. Every goal scored, every cheer from the stands, and every contribution will help transform lives.

As a proud donor of the tournament, Winandyou contributed €10000, reinforcing its commitment to unity, support, and social responsibility. For us, it is not only about creating opportunities within the betting and affiliate industry, but also about making a meaningful difference where it matters most.

“We are proud to support such a significant event. The Legends Charity Game brings millions of people together and proves that sport has the power to change the world. For Betandyou, this is a chance to contribute to a greater cause and support those in need,” CEO of the company stated.

The Legends Charity Game is more than football. It’s a game where legends of the past help shape a brighter future.

The post Betandyou supports the Legends Charity Game in Lisbon appeared first on European Gaming Industry News.

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1/ST CONTENT and Italy’s MASAF form new partnership ahead of the Breeders’ Cup

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Distribution deal sees leading racing provider for the Americas extend its scope into Italy’s local pool betting via governing body for horse racing

1/ST CONTENT, the pre-eminent provider of premium North and South American horse racing content and a key division of 1/ST, has continued to grow its international footprint in a new partnership with the Italian Ministry of Agriculture, Food Sovereignty and Forestry (MASAF) in the run-up to the Breeders’ Cup World Championships, one of the true highlights on the global racing calendar.

The deal now opens a breakthrough gateway for local pool betting on North American, South American and Turkish racing in Italy – and was soft-launched over last month’s 100th edition of the Hambletonian at The Meadowlands, NJ. This milestone renewal, the pinnacle of harness racing and a format of the sport which is particularly popular with Italian racing fans, fostered immediate fan engagement, as reported by MASAF this month via https://www.grandeippicaitaliana.it/.

The agreement kicks off with the 2025 flagship finale at the Breeders’ Cup World Championships in Del Mar (31 October – 1 November) and brings many of the premier stateside races to Italy, including the Pegasus World Cup (24 January) and the Triple Crown contests of Preakness 151 (16 May) and the Belmont Stakes (6 June). In the aggregate, 1/ST CONTENT’s extensive content portfolio maps approximately 90% of all North American racetracks, alongside South American and Turkish venues, neatly complementing Italy’s domestic sporting action with a reliable source of fast-settling betting content between 18:00 and 05:00 CET.

Italian and North American horse racing currently enjoy a strong reciprocal bond, thanks to three of Italy’s leading jockeys in Frankie Dettori, Umberto Rispoli and Antonio Fresu plying their trade in North America. These three Italian ambassadors were recently introduced to a mainstream global audience via Netflix’s acclaimed Race For The Crown.

1/ST CONTENT’s worldwide experience and customer base for pools betting features the Americas, Morocco, Italy, Singapore, Australia, Turkey, Sweden, France, New Zealand and Hong Kong. As a result, by leveraging 1/ST CONTENT’s unparalleled expertise in capturing and streaming elite live-racing events, bettors across Italy can now enjoy a best-in-breed international racing experience.

Key features of the deal include but are not limited to:

  1. Comprehensive Coverage: exclusive signals of all racetracks in the United States, Canada, South America and Turkey, ensuring an extensive and diverse range of racing content for Italian audiences.
  2. Cutting-Edge Technology: high-quality, immersive broadcasts, providing viewers with an unparalleled access to live racing and informative content that both engages the seasoned viewer and educates those unfamiliar with the sport.
  3. Enhanced Viewer Engagement: accompanying innovative marketing strategies, promotions, and engagement initiatives, enhancing the overall viewer experience and speaking to a dedicated racing community in Italy

Simon Fraser, Senior Vice President International at 1/ST CONTENT, said: “We’re thrilled to be working as a partner with MASAF on a program to rejuvenate their horse racing audience and breathe new life into the Italian industry. Our collaboration marks a cornerstone from which we can build together to ensure that racing is competitive with other betting options and further expands 1/ST’s global reach.”

Remo Chiodi, Director General for Horse Racing at MASAF, added: “This partnership is part of a broader framework aimed at strengthening relations between Italy and the United States in the horseracing sector: it is a path that consolidates ties between the two countries, enhances both our national excellence and international achievements, and opens up new opportunities for growth and exchange. It is a step that also involves breeding and training, while highlighting the image of Italian racing excellence in the United States, represented by our most renowned jockeys competing overseas.

“Thanks to this agreement, major American racing events will be broadcast free-to-air on EQU TV, expanding the television offering and allowing betting on the races within a fully integrated system. After years of challenges, Italian racing is redefining the entire sector to restore our sport to a position of strength, both at home and abroad.”

The post 1/ST CONTENT and Italy’s MASAF form new partnership ahead of the Breeders’ Cup appeared first on European Gaming Industry News.

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