SBC News Voice of the Sports Betting Industry
Raketech has recorded sizeable, across-the-board revenue growth for Q4 2018, bolstered by the launch of flagship Finnish sports betting product urheiluveikkaus.com and the esports community-targeting esportsguide.com.
The affiliate network oversaw a revenue increase of 65.6% (to €7.6 million), an organic growth rise of 50.2% and an EBITDA increase of 122.1% (to €4.5 million).
The full-year results, released in tandem with those for the final quarter of 2018, were similarly positive. Revenues increased by 49% to €25.6 million, organic growth amounted to 29.9% and EBITDA increased by 48.9% to €14.4 million
”I am pleased to announce a strong end to 2018, which was a record-breaking year for Raketech,” explained CEO Michael Holmberg. “We strengthened both financially and strategically over the past twelve months, and our focus on creating organic growth has continued.
“The regulation of the Swedish gaming market came into effect on 1 January 2019, and we put a big focus on activating a new Swedish compliance strategy at the end of 2018 to ensure our sites follow robust compliance criteria.
“With a clear compliance strategy executed, we can now focus resources on driving traffic to our new and existing regulated partners in Sweden with which we have established long-term deals. It is still early days and the operators and players are adapting to the new setting, but we believe the market will normalise over time and we see many opportunities ahead.
“All in all, I am very proud of the progress and achievements made by the team in 2018, and look forward to the company’s continued growth journey in 2019.”
