raketech Archives - CasinoBeats https://casinobeats.com/tag/raketech/ The pulse of the global gaming industry Thu, 29 May 2025 11:50:21 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 https://casinobeats.com/wp-content/uploads/2025/01/cropped-favicon-32x32.png raketech Archives - CasinoBeats https://casinobeats.com/tag/raketech/ 32 32 Part 28 | On the move: Recruitment round-up http://casinobeats.com/2020/05/28/on-the-move-recruitment-round-up-28/ Thu, 28 May 2020 09:30:58 +0000 https://casinobeats.com/?p=31664 With plenty of movers and shakers around the industry, allow CasinoBeats to give you the rundown on a number of recent manoeuvres. Fantasma Games Stockholm based game studio Fantasma Games has signed up the co-founder of Quickspin Mats Westerlund as partner and senior adviser. Lauded as boasting a solid track record of producing successful slots such as Starburst […]

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With plenty of movers and shakers around the industry, allow CasinoBeats to give you the rundown on a number of recent manoeuvres.

Fantasma Games

Stockholm based game studio Fantasma Games has signed up the co-founder of Quickspin Mats Westerlund as partner and senior adviser.

Lauded as boasting a solid track record of producing successful slots such as Starburst (NetEnt), Jack Hammer (NetEnt) and Big Bad Wolf (Quickspin), Fredrik Johansson, CEO and founder of Fantasma, expressed delight at the appointment.

“I couldn’t be happier right now. My friends at Fantasma made me love the idea of working with games again,” stated Westerlund.

“They are a group of passionate people with great management and culture. This is an excellent way for me to have fun as an adviser, and also produce a game or two with an exceptional team. I can’t wait to get started.”

Quanta

Blockchain lottery operator Quanta has announced the appointment of Ioannis Papachristou as the SVP and managing director of the company’s Isle of Man branch.

Experienced in managing operations and projects, Papachristou is lauded as a “dynamic and motivated professional” with a proven record of managing projects from concept to completion.

“Ioannis is able to respond quickly to changes that occur on a daily basis in fast moving industries.“ said Harmen Brenninkmeijer, Quanta’s CEO. “As a member of senior management, the managing director is also expected to promote expansion and innovation within the industry.“

Raketech

Raketech has continued to strengthen its senior leadership team after naming Oscar Karlsten as the company’s new chief operating officer.

He joins Raketech from the role of chief information officer and chief product officer of Catena Media, where he was responsible for the group’s product vision and roadmap towards scalable growth. Prior to working at Catena Media, Karlsten was the CEO at Avantime Group, having also worked at Toca Boca and Google.

Karlsten joined the company earlier this month and will take responsibility for Raketech’s central operations, product development and investments, as well as focusing on the group’s creative content, SEO and UX.

Oskar Mühlbach, CEO at Raketech, commented: ”Oscar’s extensive experience within the digital marketing industry brings many valuable insights and expertise to Raketech.

“With him onboard, we have now secured the last piece of the management puzzle and I am very much looking forward to seeing him accelerate our transformation from affiliation to the igaming performance marketing partner.”

Kalamba Games

Casino games developer Kalamba Games has appointed Piotr Simon as product owner as the company looks to deepen and expand its product offering and remote gaming server.

Praised as coming with “substantial industry” experience gained from his time at Game Desire and Yggdrasil, Simon will spearhead the company’s product development with the firm set to fully roll-out its own RGS and promotional tools later this year.

“As we move into another year of unprecedented growth, we are naturally looking to further strengthen the team with top talent and we’re really pleased to have Piotr on board to help build even more great products,” noted Alex Cohen, COO at Kalamba Games.

“Piotr has deep experience of developing great promotional tools and this will be invaluable to Kalamba as we enter a new stage of growth over the coming months.”

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Part 5 | On the move: Recruitment round-up http://casinobeats.com/2019/10/04/on-the-move-recruitment-round-up-5/ Fri, 04 Oct 2019 13:09:58 +0000 http://casinobeats.com/?p=22114 With plenty of movers and shakers around the industry, allow CasinoBeats to give you the rundown on a number of recent appointments. GVC Holdings The gaming and sports betting organisation has strengthened its operational management team, with Gabriele Griesbacher joining as group as director of payments and Colin Cole-Johnson taking up the role of gaming […]

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With plenty of movers and shakers around the industry, allow CasinoBeats to give you the rundown on a number of recent appointments.

GVC Holdings

The gaming and sports betting organisation has strengthened its operational management team, with Gabriele Griesbacher joining as group as director of payments and Colin Cole-Johnson taking up the role of gaming product director.

With both set to join next month, Cole-Johnson is to be responsible for GVC’s casino, live and bingo products, as Griesbacher gets set to lead all aspects of payments across the group, covering commercial, product and compliance.

Shay Segev, chief operating officer of GVC, commented: “We are delighted to have Gabriele and Colin joining us. Both have huge expertise in their respective areas and will further strengthen the Group’s leadership team.

“Gabriele will spearhead our ever-increasing focus on compliance, ensuring we maintain a player-safety-first approach in everything we do, while Colin will drive our gaming product forward, bringing his unparalleled industry experience and gaming expertise.”

Canterbury Park

Striving to evolve into a diverse gaming, entertainment, and real estate development company, Canterbury Park has unveiled a plethora of leadership changes.

Alongside Maureen Bausch and John Himle being added to the firm’s board of directors, Randy Sampson, Canterbury Park’s president and CEO, has also been appointed executive chairman of the board.

Furthermore Carin Offerman, current chair of the compensation and nominating committees, has been appointed the company’s lead director.

In connection with the latter two positional changes, Curtis Sampson and Dale Schenian have retired as chair and vice chair, assuming the new titles of chairman emeritus and vice chairman emeritus respectively.

Randy Sampson commented: “As Canterbury Park continues to evolve from a racetrack into a diverse gaming, entertainment, and real estate development company, the board recognised that it was important to add members that would bring additional skill sets and business backgrounds to the company.”

Push Gaming

The games development studio has recruited former LeoVegas had of finance Roderick Falzon, who joins Push Gaming as finance director.

In the role Falzon will be responsible for managing the Malta-based developer’s finances, including building the finance team, financial reporting and working with the management team to drive growth.

James Marshall, CEO of Push Gaming, commented: “We’re very pleased to bring Roderick and his experience into our team. We’re investing further into our Malta operations and expanding our teams in London and the Ukraine, Roderick will be pivotal in continuing to structure and support our growth.”

Raketech

Andreas Kovacs has been appointed as director of business development at Raketech, clearing the way for Måns Svalborn to join the online affiliate and content marketing company as chief financial officer.

Initially working alongside his predecessor to ensure a smooth transition, Svalborn is to focus on the execution of a growth strategy that recently saw the acquisition of Casumba Media, marking the company’s establishment of operations in the Japanese market

”I am very happy to welcome Måns Svalborn as our new CFO. Måns is a highly skilled finance professional with relevant experience across reporting, accounting and audit which will be valuable in the continued development of our finance department,” Michael Holmberg, CEO at Raketech, said of the appointment

“All in all, with Måns as new CFO and Andreas as director of business development, I am confident that we are in a great position to continue building long-term shareholder value.”

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Gambling.com Group Bucks Affiliate Reporting Trend With Q1 Growth http://casinobeats.com/2025/05/16/gambling-com-group-bucks-affiliate-reporting-trend-with-q1-growth/ Fri, 16 May 2025 16:38:16 +0000 https://casinobeats.com/?p=109787 Gambling.com Group reported first-quarter (Q1) revenue of $40.6 million, up 39% from $29.2 million in the same period last year.  The company’s first results of 2025 show significant top-line growth, improved profitability, and a continued investment drive in its core North American market.  Gambling.com EPS Rises 60% In First Quarter Key statistics from the company’s […]

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Gambling.com Group reported first-quarter (Q1) revenue of $40.6 million, up 39% from $29.2 million in the same period last year. 

The company’s first results of 2025 show significant top-line growth, improved profitability, and a continued investment drive in its core North American market. 

Gambling.com EPS Rises 60% In First Quarter

Key statistics from the company’s first quarter are as follows for the three months ended 31 March 2025:

  • Revenue of $40.6 million, up 39% from $29.2 million in Q1 2024
  • Net income of $11.2 million, up 54% year-over-year
  • Operating profit of $10.0 million, up from $7.9 million in the prior year period
  • Basic earnings per share (EPS) of $0.32, up 60% from $0.20 in Q1 2024
  • Cash generated from operations totaled $11.4 million

The affiliate emphasized that the acquisition of Odds Holdings Inc. was pivotal to Q1’s performance. “The principal reason for this acquisition was to accelerate U.S. expansion,” Gambling.com stated. The deal generated $8.6 million, or approximately 22% of group revenue in the quarter. 

Catena Media, which also heavily focuses on the North American market, posted poor financials last week and outlined plans for 50 more job cuts as it aims to optimize costs. 

Another affiliate, Gentoo Media, also posted results below expectations and is undergoing strategic restructuring and making redundancies.

Gambling.com Product Diversification Paying Dividends in Q1

This is not reflected at Gambling.com, where Q1 sales and marketing spending is up 58%, technology expenses are up 62%, and general and administrative expenses are up 22%. 

While this shows higher operating costs, it aligns with the group’s strategy to aggressively pursue market share globally through both organic and merger and acquisition-led growth. 

The Gambling.com group diversified its product portfolio, with subscription revenue growing 405.2% year-over-year to $9.9 million and making up 24.4% of total first-quarter revenue. 

Revenue from CPA, Rev Share, and Hybrid models was still the predominant revenue driver, comprising 63.3% of Q1’s topline. Advertising on site and other revenue generated 12.3% of total revenue, generating $5.0 million for the three months to March 2025. 

From a debt perspective, the group’s borrowing rose significantly to $88.5 million in Q125, up from $22.9 million in the previous quarter. The increase is owing to the drawdown of a $165 million syndicated credit facility, led by Wells Fargo. The facility includes a $90 million revolving credit line, of which $70.5 million (78%) remained undrawn. 

The filing outlines that “the proceeds from the Wells Fargo Credit Facility are being used for working capital, to settle deferred consideration, for permitted acquisitions, and for general corporate purposes.” 

Competitors Weakened by Google Policy and Search Slump

Source: Yahoo Finance

Investor confidence in GAMB is significantly stronger than that of three public competitors. Catena, Raketech, and Gentoo have all had topline revenue hit by Google policy change and underperforming search-related revenues. 

Gambling.com has shown, particularly through recent revenue diversification and continued investment, that growth is still possible in a tricky affiliate market. 

The group still saw a decrease in share price following its earnings announcement, but the trend over six months is 3.23% growth, compared to -60.97% for Catena, -43.45% for Raketech and -40% for Gentoo Media.

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Raketech sells non-core US advisory business to focus on ‘core strengths’ https://casinobeats.com/2024/07/08/raketech-non-core-us-advisory-divest/ Mon, 08 Jul 2024 12:00:00 +0000 https://casinobeats.com/?p=95138 Online affiliate and content marketing firm Raketech Group has agreed to divest its non-core US advisory business to focus on its “core strengths”. The company remarked that total sale proceeds of $2.25m have been settled partially on closing and via an ongoing revenue share agreement. ATS Consultants, acquired by Raketech in December 2021, features several […]

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Online affiliate and content marketing firm Raketech Group has agreed to divest its non-core US advisory business to focus on its “core strengths”.

The company remarked that total sale proceeds of $2.25m have been settled partially on closing and via an ongoing revenue share agreement.

ATS Consultants, acquired by Raketech in December 2021, features several “high-value lead-generating” sports tipster websites which the company says are “highly dependent on a manual lead conversion sales team”.

Raketech noted that traffic has increased to its US tipster sites over the past year, transitioning from a “manual, high-touch process” business model to a “fully digital lead conversion model for multi-capper picks and predictions”.

A comprehensive review of US business operations and assets was undertaken following this success, of which the conclusion was to divest the high-touch US tipster advisory sales business. The tipster advisory operations are being sold to its management.

The company stated that the sale aligns with its strategy to “focus on its core digital strengths and maximise growth opportunities” but it will continue to leverage flagship US assets – winnersandwhiners.com, statsalt.com and picksandparlays.com – which generate approximately 50 million sessions annually.

Johan Svensson, who was appointed CEO of Raketech back in May, commented: “This strategic sale is an important step in streamlining our operations and focusing on our core strengths.

“By leveraging our high-quality US operations, our strategy is to maximise the growth potential in digitalised subscription and affiliate marketing revenues and expand our sub-affiliate marketing and partnership revenue streams. 

“Despite the one-off non-cash impairment charge, we are confident that this move will enhance our focus, drive improved performance, and deliver long-term sustainable growth and value creation.”

The US business operations and assets review was completed in Q2 2024. Raketech stated that it “highlighted the significant potential for US digital subscription revenues and opportunities to increase affiliation revenues” from its high-value tipster website assets.

In addition, the company said that “strong traffic development has led to a significant increase in MCP sales and higher affiliation marketing revenue from leading US sportsbook operators” and that the review “identified the underperforming high-touch advisory operations as increasingly non-core and subscale”.

Raketech noted that revenues for the 12 months to the end of Q1 2024 from these operations were $4m with minimal EBITDA contribution. It has also signed an exclusive lead generation agreement guaranteeing a minimum fee of $250,000 over the next year.

With the transaction expected to close by August 31, 2024, the sale will also have a one-off non-cash impairment charge of approximately €10m for the US assets.

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Raketech brings Baricata’s AI live casino dealer to market https://casinobeats.com/2024/06/18/raketech-baricata-ai-dealer/ Tue, 18 Jun 2024 14:00:00 +0000 https://casinobeats.com/?p=94642 Raketech has formed a partnership with Baricata after agreeing to bring the Japanese igaming developer’s AI live casino dealer to market.  Described as a “groundbreaking innovation”, the AI-powered casino dealer has been introduced to reduce the live casino industry’s reliance on human availability, aiming to make it easier to stream live casino games 24/7.  The […]

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Raketech has formed a partnership with Baricata after agreeing to bring the Japanese igaming developer’s AI live casino dealer to market. 

Described as a “groundbreaking innovation”, the AI-powered casino dealer has been introduced to reduce the live casino industry’s reliance on human availability, aiming to make it easier to stream live casino games 24/7. 

The dealer will be able to speak with players from several different nationalities, boasting an ability to “fluently communicate” in multiple languages.

Baricata’s latest innovation is equipped with advanced VIP player detection capabilities, ensuring that the AI dealer can identify VIP players to treat them “courteously”. 

The developer has also confirmed that exclusive AI dealers can be produced for specific brands on request, encouraging brand recognition. 

Conor Jenner, Director of Account Management at Raketech, stated: “We are delighted to play a part in bringing Baricata’s new AI online casino dealer to the market. The innovative technology is set to bring a new style of gaming to players and we at Raketech are excited to see how our new partnership with Baricata develops in the near future and beyond.”

AI’s position in the online casino industry was weighed up on an industry trends panel at the recent CasinoBeats Summit in Malta, emphasising the “need for human interaction” to not be disregarded. 

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Raketech names Johan Svensson as permanent CEO https://casinobeats.com/2024/05/20/raketech-johan-svensson-permanent-ceo/ Mon, 20 May 2024 15:01:56 +0000 https://casinobeats.com/?p=93894 Raketech has appointed one of its Co-Founders, Johan Svensson, as its permanent Chief Executive Officer. Svensson took on the CEO role permanently on May 16, having previously been Acting CEO of the igaming affiliate company for the first portion of this year following Oskar Mühlbach’s departure in January. The Co-Founder of Raketech brings experience in […]

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Raketech has appointed one of its Co-Founders, Johan Svensson, as its permanent Chief Executive Officer.

Svensson took on the CEO role permanently on May 16, having previously been Acting CEO of the igaming affiliate company for the first portion of this year following Oskar Mühlbach’s departure in January.

The Co-Founder of Raketech brings experience in technology and gaming to the Chief Executive position, with the company highlighting his “dedication to strategic development, operational excellence, and team collaboration”.

Ulrik Bengtsson, Chair of Raketech, stated: “We are excited to officially name Johan as our permanent CEO. His deep connection and commitment to Raketech and proven leadership abilities make him the ideal choice to steer the company into its next phase of growth.”

This will be the second time Svensson will take on the Chief Executive role at Raketech.

He was CEO of the company until 2017, before becoming Chief Commercial Officer where he was responsible for partnerships, mergers and acquisitions and business integrations.

Svensson has been a board member of Raketech since 2010 and is also the Founder and a board member of BetHard Group, as well as a board member with Gameday Group and Akterbog.

Svensson commented on his appointment: “I am excited to return to the role of CEO at Raketech. I look forward to working with our talented team to build on our strong foundation and drive further innovation and growth. 

“Our focus will remain on delivering exceptional value to our customers, employees, and shareholders.”

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SkyCity, GiG, Rush Street Interactive: on the move https://casinobeats.com/2024/04/12/skycity-gig-rsi-on-the-move/ Fri, 12 Apr 2024 16:42:24 +0000 https://casinobeats.com/?p=93018 With comings and goings commonplace across the industry, SkyCity, GiG and Rush Street Interactive are among those to have seen changes to their teams recently. SkyCity SkyCity has announced that David Christian has resigned as Chief Operating Officer Australia. Callum Mallet, interim CEO of SkyCity, noted: “David has held a number of senior roles during […]

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With comings and goings commonplace across the industry, SkyCity, GiG and Rush Street Interactive are among those to have seen changes to their teams recently.

SkyCity

SkyCity has announced that David Christian has resigned as Chief Operating Officer Australia.

Callum Mallet, interim CEO of SkyCity, noted: “David has held a number of senior roles during his career with SkyCity since joining in 2005 and has led the SkyCity Adelaide business through a very challenging and demanding period, demonstrating strong leadership and resilience.”

From April 13, Christian will be replaced as Chief Operating Officer Australia by Avril Baynes, who is the current General Manager of Hospitality at SkyCity Adelaide and has previously been the General Manager of the Mindil Beach Casino Resort in Darwin, Australia.

Julian Cook, Board Chair of SkyCity, added: “On behalf of the SkyCity Adelaide board and the SkyCity board, I thank David for his tireless efforts and dedication to SkyCity and wish him well.”

GiG

GiG has submitted its proposal for two separate board entities ahead of the company’s split of its Media and Platform businesses.

GiG Media will be operated under the company’s current corporate structure, while GiG Platform, the business tech subsidiary, will be spun off to GiG’s shareholders later in the year.

The proposal has been submitted to investors before the company’s annual general meeting on May 22. The two separate boards have been created “with the aim to optimise the growth opportunities for each business entity”.

GiG Platform’s board will be led by Petter Nylander as Chair, alongside Nicolas Adlercreutz, Mikael Riese Harstad, Hesam Yazdi, Tomasz Juroszek and Steve Salmon. It will not feature Karolina Pelc, as she declined re-election due to other commitments. 

For GiG Media’s board, the committee has proposed Harstad as Chair alongside a re-elected Hesam Yazdi, with the additions of Cristina Romero de Alba, Mateusz Juroszek and Nicholas Batram.

Romero de Alba is a legal expert in gambling disciplines, a partner of Madrid law firm LOYRA, and has worked as counsel for M&As of clients including institutional and strategic investors, operators and suppliers in over 30 countries.

Juroszek has 20 years of gambling industry experience and was previously CEO of Poland’s largest bookmaker STS from 2012 to 2023. Batram is the former Group Director of M&A and Corporate Development at Entain.

Chicken Ranch Casino Resort

Chicken Ranch Casino Resort has appointed Katie Kirkland as Group Sales Manager.

Kirkland brings over 14 years of experience in the hospitality, tourism, and sales industry to the resort ahead of its planned opening later this year in the summer.

She previously worked at Club Med Resorts, Black Oak Casino Resort and Development Counsellors International.

Commenting on her new role, Kirkland said: “As the new Group Sales Manager at Chicken Ranch Casino Resort, I am excited to bring fresh perspectives and innovative strategies to enhance our guests’ group experiences.

“Our team is dedicated to creating memorable events and ensuring every detail exceeds expectations. I look forward to collaborating with our clients and partners to elevate our offerings and establish Chicken Ranch as a premier destination for group gatherings.”

Raketech

Raketech’s nomination committee has proposed the appointment of Jon Moss to the company’s board of directors ahead of its annual general meeting on May 16.

The committee has also proposed the reelection of all current board members and Ulrik Bengtsson as Chair.

Moss has extensive experience in igaming, as he has previously spent over a decade as Head of International Development at bet365.

He has also been an independent consultant working across various geographies, including numerous markets in Europe, North America, Australasia, certain Asia markets and Latin America. 

The committee is confident that Moss would strengthen Raketech’s board with his igaming and international experience, bringing value to help the company’s growth initiatives.

Svenska Spel

Svenska Spel has appointed Gustav Georgson as Head of Public Affairs.

Taking on the role from April 29, Georgson joins the operator from the Government Offices, where he worked as a political adviser at the Liberal Party’s coordination office.

“Five years after the re-regulation of the gambling market, gambling is still the subject of much debate. With Gustav’s cutting-edge expertise in public affairs, we will continue to develop our relationship with Svenska Spel’s stakeholders,” stated Frank Hojem, Head of Communications and Sustainability at Svenska Spel.

“We will be a clear voice in the debate and contribute with concrete views on the industry’s most important issues. Gustav will play a central role in this work.”

Commenting on his new role, Georgson said: “I have always had a positive view of Svenska Spel as a player with an important role in society. I look forward to working with my new colleagues to consolidate our position as a responsible role model in the gaming market.”

Rush Street Interactive

Rush Street Interactive has hired Brian Sapp for the newly-created role of Chief Marketing Officer.

Sapp has a strong record in data-driven marketing and live operations within the mobile industry. He was previously on the Executive Team at Rec Room, overseeing several functions, including media buying, product marketing, creative, social and first-party revenue.

He has also held the position of Senior Vice President of User Acquisition & Ads at Jam City, Director of Digital Publishing at WB Games and Director of Developer Partnerships at Tapjoy.

“As we continue to grow and expand across the Americas, a marketing leader with Brian’s unique blend of gaming and mobile experience, strategic insight, and creativity will be additive to the team as we shape the future of our brand and continue to innovate our customer-first experience,” said Richard Schwartz, CEO of RSI. 

“We are thrilled to welcome him aboard to lead our marketing strategy, team, and operations.” 

Mattias Stetz, RSI’s Chief Operations Officer who previously led the marketing team, will now focus more on scaling operations and increasing Latin American growth.   

Sapp stated: “I am thrilled to join Rush Street Interactive at a time when the company has such strong momentum. RSI’s customer-first focus really resonated with me as a marketer who understands what it takes to succeed in a competitive mobile landscape.

“I look forward to leveraging my experience and expertise to drive forward our marketing initiatives during RSI’s next phase of growth and deliver exceptional experiences to our customers.”

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Raketech achieves 2023 targets with ‘solid’ Q4 results https://casinobeats.com/2024/02/22/raketech-2023-q4-results/ Thu, 22 Feb 2024 13:00:00 +0000 https://casinobeats.com/?p=91780 Raketech’s elevated targets for 2023 have been achieved following the company’s successful expansion of its media network and partnerships.  Interim CEO, Johan Svensson, hailed the firm’s latest financial results as a “solid platform” to build further growth across 2024, stating he is “fully committed to driving additional value.” Q4 performance Publishing its Q4 2023 financial […]

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Raketech’s elevated targets for 2023 have been achieved following the company’s successful expansion of its media network and partnerships. 

Interim CEO, Johan Svensson, hailed the firm’s latest financial results as a “solid platform” to build further growth across 2024, stating he is “fully committed to driving additional value.”

Q4 performance

Publishing its Q4 2023 financial results, the igaming media group recorded period revenues of €22.7m, an increase of 45 per cent on Q4 2022’s figure of €15.8m. 

The firm’s robust performance was attributed to a significant jump in sub-affiliate income, which came in at €11.4m to represent just over half of the company’s revenues for Q4, as well as a threefold increase year-over-year. . 

Sub-affiliate growth for Raketech was supported by the company’s expansion of its partner network and contracts for its primary igaming platforms, the Raketech Network and AffiliationCloud.

The sub-affiliate uptick offsetted a drop in Raketech’s Q4 marketing revenue share to €9.6m (Q4 2022: €10.3m), reflecting a period of adjustments in Sweden, impacting the performance of Swedish online casino assets.

For North America, Raketech maintained revenues of €2.2m, although the company highlighted that a new strategy is required for its Tipster business, as it is failing to progress “in line with expectations”. 

Raketech gained a considerable boost across its primary networks across the quarter as new depositing customers rose to 76,000, an increase of 45 per cent. 

The company’s EBITDA for Q4 stood at €6.6m, a jump of 10 per cent from Q4 2023’s €6m, while the firm registered direct expenses of €11.3m (Q4 2022: €4.4m), “largely driven by increased activity of sub-affiliation contracts”. 

Full year 2023 results

For its FY2023 results, Raketech’s revenues stood at €77m (FY2022: €52m), in line with the updated guidance from July as Raketech hit FY2023 EBITDA of €23m (FY2022: €20m).

The firm concluded its year trading by booking a special items expense of €18m, related to the earn-out of its 2019 acquisition of all Casumba Media properties. 

This contributed to direct expenses for FY2023 more than doubling when compared to the year before, coming in at €33m (FY2022: €15m). 

Meanwhile, Raketech declared operating profits of €11.6m, a decline of 6 per cent on FY2022 results of €12.4m.

Looking at 2024, Raketech’s board expects a corporate EBITDA of €24m-€26m – as “free cash flow is estimated to amount to €22m-€24m before cash settlements of the Casumba earn-out of €18.3m this year”. 

The company is also set to continue its search for a new Chief Executive, following Oskar Mühlbach’s departure as 2023 trading closed. 

On the firm’s latest financial results, Interim CEO Svensson commented: “This result serves as a solid platform for the coming year, where we will focus on identifying new markets, evaluating expansion options, assessing new partnerships, and focusing on business growth. I am fully committed to driving additional value for our company.”

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Raketech, PressEnter, Allwyn: on the move https://casinobeats.com/2024/01/12/raketech-pressenter-allwyn-on-the-move/ Fri, 12 Jan 2024 16:00:00 +0000 https://casinobeats.com/?p=90846 With comings and goings commonplace across the industry, Raketech, PressEnter Group and Allwyn are among those to have seen changes to their teams this week. Raketech Raketech and CEO Oskar Mühlbach have jointly agreed to go their separate ways due to different views on the company’s strategic direction.  With Mühlbach departing from a role he […]

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With comings and goings commonplace across the industry, Raketech, PressEnter Group and Allwyn are among those to have seen changes to their teams this week.

Raketech

Raketech and CEO Oskar Mühlbach have jointly agreed to go their separate ways due to different views on the company’s strategic direction. 

With Mühlbach departing from a role he has held since December 2019, Co-Founder and former board member Johan Svensson will become acting CEO until a new permanent replacement has been appointed.

Ulrik Bengtsson, Chair of the board in Raketech, commented: “During his four years as CEO, Oskar Mühlbach has led the company through a strategic transformation and a growth journey. As Mühlbach and the board of directors have different views on the strategic considerations for the company going forward, we have agreed to part companies.

“The board is confident in appointing the co-founder and former board member Johan Svensson to lead the company until a new permanent CEO is in place. The board would like to take the opportunity to thank Oskar Mühlbach as he has played an important role in the company’s success over the past four years. Thanks to his leadership, the company has a strong foundation to build upon moving forward.”

A founder at Raketech, Svensson stepped down from the company’s board to focus on his Chief Commercial Officer role. He was previously CEO of Raketech Group Holding until 2017, before becoming CCO and working with M&A and business integrations. 

Raketech added that its full-year guidance for 2023 remains unchanged.

PressEnter Group

PressEnter Group has promoted Hampus Eriksson to the position of Deputy CEO.

Eriksson will continue as Chief Product Officer too, a role he has held for the past two years, helping to rebuild the company’s product capabilities and processes.

Lahcene Merzoug, CEO of PressEnter Group, said: “Hampus has achieved great things since joining PressEnter Group and this promotion is a reward for his hard work. This will also help to free up my time so that I can focus more on strategy and long-term projects.

“I have worked with Hampus for more than ten years. He is a highly experienced executive and product specialist and knows exactly how to run a business that is as effective as it is efficient. Through his bold leadership and natural talent, I am confident that we will continue to progress at pace over the months ahead.”

As Deputy CEO, Eriksson will be responsible for the operation’s strategies and goals, ensuring they are fully executed throughout 2024 and beyond.

Eriksson added: “Following the management buyout, the company is in a much stronger position with the foundations in place to deploy smart, effective strategies for growth.

“We are combining this with an incredibly talented team, and a skilled, ambitious C-Suite to ensure that we not only meet but exceed our goals. I am thrilled to have been promoted to the role of Deputy CEO and look forward to working alongside Lahcene to lead this organisation to the greatness I know it can achieve.”

Light & Wonder

Light & Wonder has appointed Michael Marchetti as a board of directors member, effective January 15.

Marchetti previously served as a director of SciPlay Corporation, whose remaining public shares were fully acquired by Light & Wonder in October last year.

At Light & Wonder, Marchetti will stand for re-election at this year’s annual meeting.

“We are pleased to welcome Michael to the Light & Wonder Board as a new independent director,” commented Jamie Odell, Executive Chair of Light & Wonder.

“Michael has a wealth of mobile gaming experience and a strong financial background that will help us continue to maximise value for our shareholders.”

Currently the CFO of Age of Learning, Marchetti has held various leadership positions in both financial institutions and gaming companies, including Merrill Lynch, Electronic Arts, and Buffalo Studios.

Marchetti added: “I’m excited to join the Light & Wonder Board at this time. Light & Wonder is operating from a position of strength, and I look forward to applying my experience and passion for the business, along with my fellow directors, to deliver value to the shareholders of this great company.”

GameOn

GameOn Marketing has added Erin Gallagher as a Content Strategist.

With a degree in International Relations, Gallagher was previously part of the SBC editorial team from 2018 to 2023 in the roles of Journalist, Media Executive, Senior Media Executive and Media Manager.

Commenting on her appointment, Gallagher stated: “I am thrilled to be joining the GameOn team. The company’s specialised focus on B2B PR in the igaming sector perfectly aligns with my expertise and passion. I am eager to contribute my skills and insights to further elevate GameOn’s standing in the industry.”

Andy Blackburn, Chief Operating Officer at GameOn Marketing, added: “Erin brings with her a wealth of experience, as well as a broad range of skills and contacts.

“Her deep understanding of the industry, coupled with her media management skills, will undoubtedly strengthen our offering to the industry as GameOn continues to grow in 2024. It’s fantastic to start the year with such great news.”

Hong Kong Jockey Club

The Hong Kong Jockey Club has promoted Moray Taylor-Smith to the position of Executive Director of Security, Integrity and Information Security, effective January 15.   

Reporting to CEO Winfried Engelbrecht-Bresges, Taylor-Smith will also be a member of the company’s board of management. He has been a part of the company since January 2020, assuming the position of Director of Security & Integrity in March that year.

Taylor-Smith will be responsible for the security and integrity of the Club, helping to combat criminal and corruption risks, as well as mitigating the risk to intangible Club assets. 

He will also be in charge of information security strategy and policy, including cyber security, managing information security risks, risk assessment, risk mitigation, risk monitoring and incident response, as well as strengthening the Club’s incident management capability.

Before joining the Club, Taylor-Smith was the Regional Head of Major Investigations and Financial Crime Threat Mitigation for HSBC in APAC. He was also previously the Regional Security Officer for Fidelity International.

Allwyn

Incoming UK National Lottery operator Allwyn UK has appointed Steve Parkinson as its Brand and Marketing Director. 

Parkinson will be replacing Ivor Burns, who is stepping down in April after 14 years with the National Lottery.

Allwyn’s Chief Commercial Officer, Lucy Buckley, commented: “In Steve, we have appointed a proven marketing leader who has been integral to the development and growth of key media brands. We’re excited about what he can bring to Allwyn and the National Lottery, with his wealth of experience in senior marketing roles.

“We’re hugely grateful to Ivor for everything he’s done for the National Lottery and would like to thank him for his enormous contribution. We’ll continue to benefit from his expertise right up until April as he hands over the reins to Steve – but he leaves the National Lottery’s brands in great shape.”

Parkinson joins Allwyn from Bauer Media, where he held senior marketing and business leadership roles, including overseeing the growth and brand development of Kiss, Magic, Absolute Radio, Jazz FM and Planet Rock. 

He was most recently Head of Strategic Partnerships and Events for Bauer and Executive Lead for its national charity, Cash for Kids. He has also worked in Director and marketing roles at EMAP and Chrysalis for the Heart, Galaxy and LBC brands.

“I’m delighted to be joining Allwyn at such an important time as we approach the start of the fourth National Lottery licence period,” stated Parkinson.

“The National Lottery is a huge part of UK life and contributes so much to society through good causes funding – so to come on board at the very beginning of a new era, with a new operator, is incredibly exciting.”

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Evoplay, LVS, Grand Casino Brussels: on the move https://casinobeats.com/2023/12/01/evoplay-lvs-grand-brussels-on-the-move/ Fri, 01 Dec 2023 16:00:00 +0000 https://casinobeats.com/?p=90013 With comings and goings commonplace across the industry, Evoplay, Las Vegas Sands and Grand Casino Brussels are among those to have seen changes to their teams. Grand Casino Brussels Per Jaldung has announced that he will become the new CEO of Grand Casino Brussels at Viage in Brussels, Belgium. Jaldung brings to Grand Casino Brussels […]

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With comings and goings commonplace across the industry, Evoplay, Las Vegas Sands and Grand Casino Brussels are among those to have seen changes to their teams.

Grand Casino Brussels

Per Jaldung has announced that he will become the new CEO of Grand Casino Brussels at Viage in Brussels, Belgium.

Jaldung brings to Grand Casino Brussels more than 20 years of experience in the casino and gaming industry, including working for the European Casino Association for almost nine years as Chair of the Board and Honorary President.

In a LinkedIn post, Jaldung said: “I am proud to announce that I have received a contract as an independent business partner via my firm Maxor AB as CEO of the Grand Casino Brussels @ Viage in Brussels, Belgium (part of Casinos Austria International) starting on Dec 11. 

“I am really looking forward to getting back into the casino world. I have missed it and I can’t wait to get on board with the experienced team Viage.”

Evoplay

Vladimir Malakchi has announced that he will be leaving his position as Chief Commercial Officer of Evoplay.

Malakchi has been with Evoplay for over four years, initially joining the company in December 2019 as Chief Business Development Officer before transitioning into the CCO role in March 2021.

In a long LinkedIn post, Malakchi reflected on his time with Evoplay, how the company has grown and faced challenges, and stated that he will be remaining within the igaming industry in his next role.

He said: “I’m grateful to many and would love to mention all the people who were part of my journey, but I suppose LinkedIn can block me for such a lengthy message. So I’ll mention only one person, without whom none of this would have happened: Ivan Kravchuk. My friend, thank you for once believing in me and insisting that I become part of this wonderful company. 

“This industry has given me an unrealistic number of close friends, and that cannot be bought for any amount of money. I’m sure Evoplay will continue to grow further, as its passion, resources, and ambitions will only grow and develop. And the industry still awaits many surprises.”

Las Vegas Sands

Paul Myatt has announced his resignation from the position of Vice President, Commercial for Las Vegas Sands.

Myatt leaves LVS after only joining the operator in June earlier this year. He has also previously worked for Aspire Global, Quickspin and NetEnt.

He said in a LinkedIn post: “I have resigned from my position and today is my last day. I’m very thankful for the experience and I wish all my colleagues, clients, and customers the very best of luck for the future.

“I’ll be taking a few months off to enjoy Christmas and New Year and look forward to working on exciting new igaming opportunities in 2024.”

Raketech

Raketech Group has appointed Marina Andersson and Patrick Jonker as members of its board of directors.

At the company’s annual shareholders meeting, both Andersson and Jonker were unanimously voted onto the board to replace the recent resignations of Pierre Cadena and Johan Svensson.

Andersson has over 20 years in senior corporate development and mergers and acquisitions, previously holding roles with Stillfront Group and Deloitte. She has experience in financial and strategic advisory, transaction structuring, and company valuation.

Experienced in the international casino and sports betting industry, Jonker has held senior positions at Betsson Group and William Hill.

Norsk Tipping

Norsk Tipping has confirmed the permanent appointment of Tonje Sagstuen as CEO.

Sagstuen has been the interim CEO of Norway’s state-owned lottery operator since September, replacing Thor Gjermund Eriksen who left the operator.

At Norsk Tipping, Sagstuen has also served in the roles of deputy CEO and as Chief Officer of Responsibility, Society, and Communication.

Sylvia Brustad, Chair of Norsk Tipping, noted: “Today I am pleased to be able to present Tonje Sagstuen as the new CEO of Norsk Tipping. With her, Norsk Tipping gets a skilled and experienced manager who knows the company and its employees very well.

“The board has appreciated the work Sagstuen has done as acting CEO, and is pleased that she has accepted the position on a permanent basis. We are convinced that Sagstuen is the right person to lead Norsk Tipping going forward.”

Tabcorp

Tabcorp has appointed Mark Howell as the company’s new Chief Financial Officer, starting before June 2024.

Howell will be joining Tabcorp from Coles Group Limited Liquor business where he is the General Manager Liquor Finance & Network Optimisation.

He has experience in both consumer and retail industries, having held senior finance, strategy, business development and investor relations roles at Coles before its demerger from Wesfarmers Limited.

He has also held senior investment banking roles at Rothschild and Goldman Sachs in Australia and New York and began his career at Ernst and Young.

Tabcorp Managing Director and CEO Adam Rytenskild said: “Mark is the perfect fit for Tabcorp as we deliver our transformation. He’s passionate about our growth story and dynamic in his thinking. 

“Wagering is one of the most competitive industries in Australia and Mark comes from an equally competitive customer-focused industry. His experience leading finance teams at Coles and working closely with investors will be invaluable moving forward.”

Konami Gaming

Konami Gaming has appointed Eric Schultz as Vice President of Studio Operations.

Schultz will lead Konami’s overall game development across software development, art design, sound design, math design, and project management. 

He has over 20 years of experience in gaming and has previously worked for the company, beginning with the software engineering team in 2004 before moving into the position of Senior Director of Game Software Engineering in 2014.

Steve Sutherland, President and CEO at Konami Gaming, commented: “Eric Schultz brings a demonstrated ability to effectively manage multidisciplinary teams to achieve strong product outcomes in the field for our casino customers and their players. 

“Our team is committed to growth in expanding sectors and global markets, and we look forward to continued momentum with Eric’s leadership and cooperative efforts across Konami’s world-class game studios.”

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