Raketech carries on to reduce Nordic dependency during strong first quarter

Tom Smith

Continued development in decreasing dependency on the Nordics has drawn the praise of Raketech, as the group demonstrates on a “solid” overall performance irrespective of Q1 “traditionally getting a slower quarter”. Revenues totalled €8.3m (2020: €6.5m) representing an boost of 26.6 per cent, thanks to the just lately acquired AmericanGambler […]

Continued development in decreasing dependency on the Nordics has drawn the praise of Raketech, as the group demonstrates on a “solid” overall performance irrespective of Q1 “traditionally getting a slower quarter”.

Revenues totalled €8.3m (2020: €6.5m) representing an boost of 26.6 per cent, thanks to the just lately acquired AmericanGambler and Lead Republik, and, to some extent, was offset by a reduction in revenues adhering to the disposal of the customer finance belongings which took spot in Q4 2020. Casino and activity occupied 82.5 per cent and 17 for every cent, respectively.

In addition, ongoing efforts in Japan and the US have been also pinpointed as key growth motorists, with the previous claimed to be “delivering history numbers on all KPIs” and the latter benefiting from new states entries and the Super Bowl. This is contrasted to reduced seasonality in other markets, as properly as enhanced gambling tax in Denmark.

Non-Nordic profits elevated to an all time substantial of 35.1 for each cent, which is lauded as “a significant strategic milestone,” with Sweden’s 38 per cent share down from 55 for each cent calendar year-on-year. The state is, nevertheless, even now “by far our biggest market”.

“Primarily, the enhancement is supported by acquired added revenues on new marketplaces as perfectly as sturdy performance on other marketplaces – with Japan primary the way,” suggests Oskar Mühlbach, CEO of Raketech.

“After dealing with an incredible progress during 2020, which continued [through] the first quarter 2021, it is fulfilling to conclude that Japan now is symbolizing 11 for each cent of the group’s total. 

“Additionally, the US is representing six for each cent of overall, which considering the shorter time frame must be interpreted as a indication of Raketech acquiring higher ambitions on the American sector.”

During the year’s initially quarter, new depositing buyers elevated 23.5 per cent to 39,874 (2020: 32,278), working financial gain amounted to €1.6m (€1.4m), and EBITDA arrived in at €3.2m (2020: €2.6m).

This aligns with larger revenues as a result of the addition of new product or service categories, development of the existing portfolio and geographical expansion.

Of the period of time in advance, Mühlbach continued: “I am pleased to be capable to conclude that the good momentum we confirmed in Q4 continued into Q1 and resulted in nevertheless another stable quarter. Furthermore, April revenues amounted to €2.8m, inspite of the US slowing down a bit immediately after the Superbowl peak. 

“The Raketech team is presently concentrating on ensuring we maximise the probable from the European Championships in Football coming up in June, in addition to our constant attempts to ensure we deliver on strategic ambitions with regards to geographical enlargement and business diversification, as a result of R&D as well as M&A.”

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