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Raketech Delivers a Strong Q3 in Line with Previously Increased Trading Update
Raketech Group Holding Plc announced the third quarter interim report in line with the increased trading update from July 24 with a total revenue of EUR 21.5 million and an organic growth of 66% Y/Y, adjusted EBITDA grew by 16.5% Y/Y to EUR 5.6 million. The company is expected to close 2023 in line with previously increased guidance of EBITDA at EUR 23-25 million as well as net cash flow in the interval of EUR 13-15 million, while beating guidance with regards to revenue of EUR 65-70 million.
“We are pleased to report another strong quarter, in line with the updated trading guidance for 2023. The team reached an all-time high in revenue performance and organic growth and a solid EBITDA, supported by the strong demand for our infrastructure solutions in Sub-Affiliation, and complemented by stable growth at higher margins in our core segment Affiliation Marketing,” Oskar Mühlbach, CEO of Raketech, said.
Q3 2023 Financial Highlights
- Q3 of 2023 reached an all-time high in terms of revenues, totaling EUR 21.5 million (EUR 13.0 million) with an organic growth of 65.8% (14.2%).
- Adjusted EBITDA grew by 16.5% Y/Y to EUR 5.6 million, driven by strong development in Casumba, part of Flagship strategy, and significant growth within sub-affiliation.
- With three solid quarters behind, the company expect to comfortably close 2023 in line with the previously increased guidance of EBITDA at EUR 23-25 million as well as net cash flow in the interval of EUR 13-15 million, while beating guidance with regards to revenue of EUR 65-70 million.
- Adjusted Operating profit amounted to EUR 2.3 million (EUR 2.9 million), impacted by increased non-cash affecting amortisation following adjustments attributable to amounts committed on acquisitions relating to Casumba.
- The calculation period for the largest share of the contingent consideration relating to the acquisition of Casumba is coming to an end in December this year, which means that the company can, with a high degree of certainty, determine the majority of the earnout.
Subsequent Events After the End of the Period
Revenues in October 2023 amounted to EUR 7.7 million (EUR 5.0 million).
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Sportradar’s Alpha Odds Receives Dual Honors at European iGaming Awards 2025
Sportradar is pleased to announce that it was recognized with two prestigious honors at the European iGaming Awards during ICE Barcelona. The company’s innovative Alpha Odds solution was honored in two competitive categories, continuing to solidify Sportradar as a leader in the online gaming industry. The European iGaming awards, a benchmark for excellence in the sector, celebrate groundbreaking achievements and advancements that redefine the gaming experience.
Alpha Odds received recognition in the following categories:
- 2024 Innovation of the Year: Celebrating the pinnacle of innovation and creative thinking in iGaming.
- Best Sports Betting Innovation: Honoring extraordinary advancements in the sports betting arena.
A service offered through Sportradar’s Managed Trading Services (MTS), Alpha Odds leverages AI-driven odds personalization technology to deliver bespoke betting prices for sportsbook operators. Alpha Odds recalculates financial exposure in real time, enabling operators to manage liability with unparalleled precision, reduce risk and enhance profitability. Since its launch, Alpha Odds has generated an average 13% improvement in margin performance for sportsbooks using the solution.
Through Alpha Odds, Sportradar’s MTS continues to optimize trading strategies and elevate sportsbook profitability, while reinforcing Sportradar’s position as a trusted technology partner for operators worldwide.
The post Sportradar’s Alpha Odds Receives Dual Honors at European iGaming Awards 2025 appeared first on European Gaming Industry News.
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Xanada Investments Announces Strategic Investment in Bettorify
Xanada Investments has announced a strategic partnership with Bettorify, an emerging platform provider delivering localized and premium iGaming solutions.
Bettorify’s core differentiator lies in its dedication to localization. The company specializes in white-label and turnkey platforms that resonate with local players, particularly across Asia’s diverse and rapidly growing iGaming market.
By integrating local payment methods and offering a tailored game portfolio, Bettorify enables operators to meet the unique needs of players while navigating regional complexities with ease.
Xanada Investments’ role goes beyond capital infusion. The fund brings extensive expertise, a powerful network, and a shared vision for success. With this partnership, Bettorify is set to improve its offerings further, expand operations across Asia, and bring tailored, competitive solutions to operators navigating the region’s complex landscape.
Vladimir Malakchi, CEO & Managing Partner of Xanada Investments, shared his thoughts:
“Bettorify offers a compelling answer to the growing demand for localized solutions in Asia’s iGaming market, which remains one of the most dynamic and under-served regions globally. Their approach to building deeply customized platforms for local audiences is both innovative and necessary.
Hanna Rai, CEO of Bettorify, expressed enthusiasm about the partnership: “Our collaboration with Xanada Investments marks a pivotal moment for Bettorify. Their strategic guidance and support will help us accelerate our growth, expand our footprint across Asia, and continue delivering unmatched platforms that operators and players love. Together, we aim to set a new standard in the iGaming industry.”
The post Xanada Investments Announces Strategic Investment in Bettorify appeared first on European Gaming Industry News.
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Yaspa and Playbook Engineering join forces to revolutionise iGaming payments
Real-time payment provider, Yaspa, has partnered with Playbook Engineering, a global leader in betting platforms, to deliver cutting-edge instant bank payment solutions for their online betting sites. This collaboration will enable players to enjoy seamless, fast, and secure payment journeys using Pay by Bank for deposits and withdrawals.
As Playbook Engineering upgrades its payment systems, they’ve strategically selected Yaspa as their exclusive real-time payment provider. Together, they’re setting a new standard for speed, security, and compliance in iGaming payments.
Luke Cousins, Commercial Director at Playbook Engineering, shared his enthusiasm for the partnership: “When enhancing our payment systems, it was crucial for us to partner with a provider that could match our vision for innovation and deliver a modern, user-friendly experience. Yaspa stood out as a leader in open banking and iGaming payments. Their expertise, coupled with their innovative approach to compliance and safer gambling, made them the perfect fit. We’re excited to bring these benefits to our operators and players.”
James Neville, CEO of Yaspa, echoed the sentiment: “We’re delighted to join forces with Playbook Engineering, a company that shares our commitment to advancing the iGaming industry. By integrating open banking payments into its platform, Playbook is paving the way for faster settlements, greater transparency, and an unparalleled user experience. Together, we’re raising the bar for what iGaming payments should look like.”
Why this matters
Open banking is transforming the way players interact with iGaming platforms, offering faster transactions, improved security, and reduced friction. With Yaspa’s cutting-edge technology and Playbook Engineering’s scalable betting platform, this partnership is set to deliver a payment experience that keeps operators ahead of the curve.
A shared vision
Yaspa and Playbook Engineering share a passion for innovation and compliance. By choosing to integrate Yaspa’s cutting-edge payment platform, Playbook Engineering reaffirms its dedication to providing both operators and players with a comprehensive, modern payment ecosystem.
The post Yaspa and Playbook Engineering join forces to revolutionise iGaming payments appeared first on European Gaming Industry News.
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