Raketech posts 25% YoY revenue rise for Q2 2021
Affiliate continues to grow outside of Nordic heartlands and confirms commitment to expanding US market
Raketech has posted a 25% year-on-year (YoY) increase in revenue for Q2 2021 as its casino segment continues to drive the business.
The Malta-based affiliate recorded €8.8m in revenue for Q2 2021 compared to €7m in Q2 2020, with its casino segment representing 84.3% of the total.
Sports betting revenue accounted for 15.2% of the total while 0.5% was derived from other verticals.
In terms of geographic revenue split, the affiliate continues to make gains outside of its traditional Nordic heartlands.
Revenue from the Nordics fell 20.3% YoY to 60.7% as non-Nordic revenue leapt from 19% in Q2 2020 to 39.3% in Q2 2021.
Elsewhere, Raketech posted a rise in EBITDA from €2.8m in Q2 2020 to €3.4m in Q2 2021 while post-tax profit remained flat at €1.2m.
The number of new depositing customers fell by 14.7% YoY from 40,847 in Q2 2020 to 34,839 in Q2 2021.
Oskar Mühlbach, Raketech CEO, said: “The second quarter of 2021 was a record quarter for Raketech with general solid performance across most assets and regions, in particular from our network sales and from our efforts in Japan.
“Our focus in the short term is to integrate our latest acquisitions. This is to ensure we reap all potential positive synergy effects we possibly can.
“Mid-term to long-term, our focus is however unchanged; we will continue to deliver on our growth strategy which includes product diversification, geographical expansion, increased monetisation through R&D as well as M&A, with a specific focus on the US.”
In July, Raketech secured a €15m credit facility to fund future M&A activity after acquiring US-based sports media affiliate business P&P Vegas Group.