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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.
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Atlaslive Shortlisted for “Best Sports Provider 2025” at SiGMA Eurasia Awards
Atlaslive, a global leader in iGaming solutions, has been shortlisted for the prestigious “Best Sports Provider 2025” award at the SiGMA Eurasia Awards 2025. This nomination recognizes Atlaslive’s commitment to innovation, technological excellence, and delivering top-tier sportsbook solutions that redefine the industry.
The AIBC Eurasia Awards celebrate pioneering projects and game-changing ideas that shape the future of iGaming. Being named a finalist is a testament to Atlaslive’s continuous drive to push the boundaries of what’s possible in the sports betting sector.
Atlaslive’s exclusive, in-house-developed Sportsbook is a standout in the industry, designed to offer a seamless and highly customizable experience for operators. Built on a foundation of scalability, flexibility, and cutting-edge live technology, the solution enables rapid growth and market adaptability. Key features include:
- Seamless API integration for effortless platform connectivity
- Advanced customization to meet operator-specific needs
- A powerful bonus engine to drive player engagement
- Real-time data analytics for strategic decision-making
- State-of-the-art risk management ensuring optimized margins
- Innovative Bet Builder feature for enhanced user interaction
With these capabilities, Atlaslive empowers operators to stay ahead in an evolving global market, driving engagement, boosting retention, and maximizing growth opportunities.
Lidiia Vakulenko, COO of Atlaslive, expressed her excitement about the recognition: “Being shortlisted for ‘Best Sports Provider 2025’ validates the hard work and dedication of our team in developing one of the most advanced sportsbook solutions in the industry. Our innovation, unique features, and technical excellence continue to set us apart, and we remain committed to pushing the boundaries of what’s possible in sports betting technology.”
Atlaslive continues to innovate, offering operators unparalleled technology and seamless integration to enhance their business success. This recognition by SiGMA Eurasia underscores the company’s mission to revolutionize the iGaming industry with state-of-the-art sportsbook solutions.
About Atlaslive
Atlaslive, formerly known as Atlas-IAC, underwent a rebranding campaign in May 2024. It is a B2B software development company that specializes in creating a multifunctional and automated platform to optimize the workflow of sports betting and casino operators. Key components of the Atlaslive Platform include Sportsbook, Casino, Risk Management and Anti-Fraud Tools, CRM, Bonus Engine, Business Analytics, Payment Systems, and Retail Module. Follow the company on LinkedIn to stay updated with the latest news in iGaming technology.
The post Atlaslive Shortlisted for “Best Sports Provider 2025” at SiGMA Eurasia Awards appeared first on European Gaming Industry News.
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Week 6/2025 slot games releases
Here are this weeks latest slots releases compiled by European Gaming
Tom Horn Gaming brings another exciting slot game to players with Book of Darius, a high-volatility adventure set in the deserts of Persia. This title expands the iGaming software supplier’s strong ‘Book of portfolio, with each game offering a new take on this player-favourite mechanic. Book of Darius delivers well-balanced bonus features, including Free Spins, a Special Expanding Wild symbol, and the Stake Booster, which make up for an engaging gameplay experience with high win potential.
Spinomenal is providing some much needed warmth this season with the release of Majestic Wild Buffalo Winter Wonderland – part of the Wildlife series. Expansive grasslands have been transformed into a winter tundra glistening with snow. While playing this cool slot, players will be joined by wolves, black bears, eagles and mountain cats – all acting as the Medium symbols. During the main game, the majestic Buffalo Wild counts as any symbol apart from double symbols, free spins and bonus.
Play’n GO takes players on a cosmic collision course with Invading Vegas Revenge on Mars, the highly anticipated sequel to Invading Vegas. This intergalactic slot promises high-octane entertainment as Earth’s favourite city collides with Martian mayhem. Invading Vegas Revenge on Mars reimagines the chaos of its predecessor, introducing a Martian twist to Sin City’s neon chaos in the form of the alien’s very own version of Vegas on Mars.
Relax Gaming, the iGaming aggregator and supplier of unique content, has combined fear with fluff as mythical creatures and farmyard favourites go head-to-head in brand-new release Giants and Sheep. This ginormous 5×4 slot can see players net up to a maximum of 10,000x through three different wild features, giant symbols and a lucrative Free Spins bonus. At any time during gameplay, one of three wild features can occur.
Amusnet has released its latest video slot, 40 Extra Crown. The game features a classical yet modern royal theme and offers thrilling gameplay, state-of-the-art graphics and exhilarating sound effects. 40 Extra Crown is based on Amusnet’s all-time favourite Extra Crown, so it will undoubtedly impress all lovers of timeless classics combined with a fresh and glamorous layout.
ELA Games is proud to announce its latest release, It’s Shark Time! 2. This game is a thrilling development to the It’s Shark Time! series, which includes the original and a holiday-themed version. Now, players can enjoy new exciting features and more chances to win. The game follows the familiar 5×3 slot format with 20 paylines, however, the graphics have been enhanced with improvements to the underwater creatures, making a more lively and exciting atmosphere.
Valentine’s Day is just around the corner, love is in the air, and Booming Games take full responsibility – thanks to the timely release of smokin’ hot slot Burning Love. The popular games provider has been busy searching for the perfect match for players, and this fiery 5×3 game ticks all the boxes. A fresh and exciting twist on the old favourite Burning Classics, this romantic revival retains all its allure despite its mesmerising makeover.
TaDa Gaming is continuing its ‘classic with a twist’ approach to slots in new release Fruity Wheel. With five reels, three rows and 243 ways to win, this innovative take on a classic fruit delivers Lucky 7s, watermelons and oranges all in a row, while the Royals ensure engagement through frequent win potential. The mix of traditional features and innovative elements puts Fruity Wheel in a league of its own. With Diamond Wilds, a Lucky Wheel giving generous Multipliers and Expanding Wilds in the Free Game, players will be entranced from the first spin.
The post Week 6/2025 slot games releases appeared first on European Gaming Industry News.
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Bombay Group Enters a New Era with Kevin McGowen taking the lead as CEO
Bombay Group, renowned for its innovative approach to luxury gaming and hospitality, is set to embark on an exciting new chapter by appointing Kevin McGowen as the new CEO.
“Time has arrived to welcome all suitable discerning players from across the globe to experience our unparalleled gaming offerings,” said Mr McGowen as he sees Bombay Group as a global leader in redefining the gaming experience that combines cutting-edge technology, cashless systems, and private, exclusive environments to reshape the traditional casino industry. “I’m hugely impressed by the Bombay team’s dedication to elevating standards in the high-end gaming industry from a product and compliance perspective. One of my goals for the near future is to engage even broader global experience in the team,” added the new CEO.
The company’s interim CEO, Anita Brinke, has set the stage for Bombay Group’s next phase of growth as the final preparations for the opening of the unique venue are concluded, and the organisation is well-prepared for its ambitious goals. “The ultimate goal of my work of recent years has been to realise the unique vision of a destination that is totally worth a separate journey regardless of how much one has experienced in life. Only a few weeks remain until the opening of The Burman and in combination with the Bombay Club they will complete the redefining of modern high quality entertainment. Now is a good time to pass the baton so that Kevin can give our crown jewel the final shine,” said Brinke assuredly.
Kevin McGowen, a Chief Executive has over 30 years of experience in gaming, hospitality and relationship marketing. Most recently, he served as CEO of Les Ambassadeurs, a prestigious private members’ casino in Mayfair, London. Kevin’s career spans across major global gaming jurisdictions and client feeder markets, including Las Vegas, The Bahamas, London, the Far East, and the Middle East. Kevin’s extensive experience in both land-based and online gaming will play a pivotal role in realising the Group’s ambitious vision.
The Group is also pleased to announce Dajana Tiitsaar as Chief Operating Officer. Dajana’s strong operational background and extensive knowledge of local market dynamics will play a critical role in ensuring seamless daily operations. Dajana joined Bombay Group from Enefit, an Estonian based energy company where she last held the country manager position, she also has over a dozen years of experience in tourism, hospitality and marketing. Her appointment underscores Bombay Group’s commitment to operational efficiency and long-term success.
In August 2024, Bombay Group proudly opened the Bombay Club, alongside world-class restaurant, bars, and lounges in Tallinn. Looking ahead to March 2025, Bombay is set to open its highly anticipated hotel, The Burman, in Tallinn’s historic Old Town. Dating back to 1850, The Burman is among the city’s historic gems. The hotel will open with two additional restaurants, a bakery, and a spa, further enhancing and enriching the character of Tallinn’s historic Hanseatic town. This addition will complete the full buildout of the project, cementing Bombay Group’s commitment of delivering premium world-class experiences in gaming and hospitality.
The post Bombay Group Enters a New Era with Kevin McGowen taking the lead as CEO appeared first on European Gaming Industry News.
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