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).
Aspire Global Facing Pair of Legal Battles
Prominent online gaming software and platform provider Aspire Global has been named as the defendant in a pair of court cases that could potentially result in it being ordered to pay compensation totaling up to €101 million ($109 million).
In the first complaint, Aspire Global is being sued in the United Kingdom by the founders of sports betting software, solutions and services provider BtoBet, Alessandro Fried and Igor Lestar, for €36 million ($39 million). This pair inked a deal in 2020 to sell their company to the Malta-based defendant in exchange for an upfront payment of some €20 million ($21.6 million) as well as an earn-out consideration tied to future earnings before tax.
However, Fried and Lestar through their Sousa Enterprises Limited and Eltsar Limited entities are alleging Aspire Global, which was last year acquired by NeoGames as part of a deal worth some €402.3 million ($423.5 million), violated the terms of this share purchase agreement by spending too little and not charging enough so as to deliberately decrease revenues and the subsequent earn-out sum.
The complex case with its many intricacies is not expected to go to trial before 2025 but could well result in Aspire Global being ordered to pay more than the €36 million headline figure. The financial implications are even more concerning as the defendant’s NeoGames parent is currently in the process of being acquired by Aristocrat in an arrangement valued at north of €1 billion.
In the United States and Aspire Global has also been separately named as the offender in an action brought by Ebet Incorporated, which is the operator of the Karamba, Griffon Casino, Hopa, Generation VIP, Scratch2Cash, Gogawi, Dansk 777 and Bet Target iGaming brands. This Nevada action is seeking some €65 million ($70 million) embracing compensatory damages, punitive fines and other financial penalties to be proven at trial and moreover names AG Communications and other affiliated entities as defendants.
Ebet Incorporated acquired specific business-to-consumer (B2C) assets and associated websites from Aspire Global in 2021 and simultaneously entered into a ‘white-label’ operator agreement embracing collaborative efforts on the future running of the purchased assets. The plaintiff is claiming the defendants breached these deals by manipulating their books to falsify and overstate active player data and exaggerate the health of the acquired properties.
As if this wasn’t bad enough, Aspire Global is furthermore being accused by Ebet Incorporated of violating the terms of the agreements by materially failing to maintain necessary operations in Germany, falsifying records and violating industry regulations. The allegations could potentially shape the future trajectories of these companies as they also run to reputational harm, fraud, breach of contract and other unnamed violations due to be proven during the course of the trial.
Calling All Gamblers: Scatters Club to Host First-Ever Gambling Streamers Awards
Scatters Club, a global community of passionate gambling streamers and players, announces the first-ever online Streamers Awards. This online event was created to spotlight the brightest stars in gambling streaming.
Scatters Club rolls out the red carpet online for top streamers. The event will celebrate the creative achievements of gambling streamers, and awards and global recognition will go to the best performers.
Nominees will vie for the ultimate prize: the audience’s love and the Scatters Crown Trophy. Everyone is welcome to nominate their favorite streamer on this website, or streamers can self-nominate in a category that highlights their flair and creativity.
Nominations are open from December 4 to December 30 for international applications:
- Most Hilarious Reaction to a Win
- Most bright Reaction to a Lose
- Coolest Background
- Craziest Outfit
- Best Streamer Collaboration
- Community Champion
- Rising Star in Gambling Streaming
- Most Responsible Streamer
- Everyone’s Favorite Gambling Streamer
- The Best Female Streamer
All submitted and approved applications are placed on the long list for their respective nominations, and the vote-casting period begins. Every fan of gambling can vote for their favorite streamer on a dedicated page.
After that, the TOP-5 streamers in each category will be shortlisted, and public votes will determine the leaders in various nominations.
As gambling fans cast their votes for the shortlist, the jury voting begins. The jury choice will remain under wraps and will only be revealed during live air on February 1, when the winners will be crowned as streaming legends.
The voting period wouldn’t be complete without the audience’s favorite bets. Top Five Streamers will be chosen for the Legend of the Year title based on the stats provided by Casinolytics, a Scatters Club’s partner. Everybody is invited to place bets on who they think will be crowned with the title. Predictions can be submitted from December 8, 2023, to January 30, 2024. The winners will be announced online on February 1, 2024.
To make the award night genuine and thrilling, Scatters Club will invite a secret host. Amping up the fun, famous gambling streamers will make guest appearances to announce the nominations and winners chosen by a special jury. The names of the jury and guests will be revealed soon along with many more mind-blowing features of this event.
Stay tuned for the Streamers Awards updates while spinning your reels!
2rbo Affiliates Shortlisted for Best Newcomer at iGB Affiliate Awards 2024
2rbo Affiliates, a standout casino and sportsbook affiliate program, is thrilled to announce that it has been shortlisted for the Best Newcomer category at the iGB Affiliate Awards 2024. This recognition is a testament to the hard work, dedication, and strong partnerships that the team at 2rbo Affiliates has built since its launch in 2023.
Jonjo Walsh, Affiliate Manager at 2rbo Affiliates, said, “Being shortlisted for the Best Newcomer category is an incredible achievement for our team. We’ve put in a lot of effort, built strong connections with our partners, and it’s gratifying to see recognition for all our hard work. A big thank you to everyone involved, and to iGB Affiliate for shortlisting us.”
2rbo Affiliates, launched in 2023, operates under four licenses (SGA, MGA, DE, and IE) and manages seven licensed brands. The company offers a range of pricing models, flexible commissions, and no negative carryover, providing a reliable return on affiliates’ efforts. A stellar ReferOn platform ensures easy and efficient affiliate management.
The iGB Affiliate Awards 2024 are part of the iGB Affiliate London 2024 event, designed to celebrate individuals and teams in affiliate marketing and iGaming. The awards will take place following the second day of iGB Affiliate London on 8 February 2024.
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