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Raketech Interim report Q1 2019

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Raketech Interim report Q1 2019

 

FIRST QUARTER 2019

  • Total revenues amounted to EUR 8.7 million (EUR 4.9 million) representing an increase of 78.2%. Total revenues include other non-operating income of EUR 2.3 million (nil) related to a waived liability regarding one related party during the quarter which is recognised as other income.
  • Revenues excluding other income increased by 31.6% to EUR 6.5 million (EUR 4.9 million).
  • Organic growth amounted to 21.5% (10.2%).
  • Adjusted EBITDA increased by 38.3% to EUR 3.5 million (EUR 2.5 million), corresponding to a margin of 54.1% (51.5%).
  • Adjusted operating profit amounted to EUR 2.8 million (EUR 2.3 million), corresponding to a margin of 43.4% (47.5%).
  • Profit for the period amounted to EUR 4.7 million (EUR 0.9 million).
  • Earnings per share amounted to EUR 0.12 (EUR 0.04).
  • NDCs (New Depositing Customers) increased by 76.1% to 28,607 (16,243).

EVENTS DURING Q1 2019

  • On 4 March, the outstanding debt of EUR 7.7 million from the previous loan facility was repaid as a final step in optimising the Group’s capital structure post-IPO.
  • On 31 March, an agreement with one related party was reached to waive the amount of EUR 2,281,714. This amount is recognised as other income within the consolidated statement of comprehensive income.

SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD

  • On 24 April, Oskar Mühlbach was appointed as Chief Operating Officer.
  • On 26 April, Raketech acquired the assets of the leading Finnish sport listing website TVmatsit.com for an initial purchase price of EUR 1.6 million plus an additional EUR 0.3 million payment over the next 24 months based on agreed performance targets.

CEO MICHAEL HOLMBERG COMMENTS THE QUARTER

”The beginning of the year has been characterised by the ongoing stabilisation phase in the Swedish gaming market, following the introduction of the new gambling legislation in January 2019. I am therefore happy to announce that we are delivering a good quarter and that we maintain our focus on organic growth and geographical expansion.

Revenues increased by 32 per cent compared to the first quarter of 2018, amounting to EUR 6.5 million. Adjusted EBITDA increased by 38 per cent to EUR 3.5 million, corresponding to a margin of 54 per cent. Organic growth amounted to 22 per cent of the revenues, and the key driver for this growth is higher traffic volumes, especially for our casino products and our TV sports guides.

While maintaining our position as a market leader in Sweden, we are simultaneously increasing our focus on geographical expansion. We have global ambitions and prioritise markets that are important to our partners, the gaming operators. As such, we are further strengthening our organisation for future expansion, both in terms of employees and technical platforms.

We are committed to creating sustainable growth across all of our markets – current as well as future markets. I am confident in our ability to continue strengthening Raketech’s position as a leading affiliate with innovative and responsible services high on the agenda.”

PRESENTATION FOR INVESTORS, ANALYSTS AND THE MEDIA

CEO Michael Holmberg and CFO Andreas Kovacs will present the report and answer questions in an audiocast at 9.00 a.m. CET on 22 May. The presentation will be held in English and can be followed online via https://tv.streamfabriken.com/raketech-q1-2019. To participate by phone, please dial +46 8 505 583 51 (SE) or +44 333 300 92 67 (UK).

 

About Raketech Group:

Raketech is a leading online affiliate and content marketing company, with expertise in delivering comparison services for sports and gaming, online guides, communities and social media products in primarily the Nordic region and the UK. Through some 20 flagship brands, Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company’s shares are listed in Nasdaq First North Premier with ticker RAKE. Erik Penser Bank AB is the company’s Certified Adviser ([email protected] / +46 8 463 83 00). For more information, visit www.raketech.com.

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The Legal Poker Debate: Will Online Poker Finally Be Legalized in California?

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The Legal Poker Debate: Will Online Poker Finally Be Legalized in California?

 

While online poker is a billion-dollar global industry, its legality in California remains a bone of contention. However, there has been a wave of change in America’s gaming segment in the past few years, thanks to the recently struck-down PASPA and online accessibility.

Let’s dig deeper into the Golden State’s poker culture from the past to the present.

A History of Poker Laws in California

Californians played poker in the saloons as early as the Gold Rush of the 19th century. Cities like San Francisco were famous for their vibrant gambling scene in the 1800s. Indigenous California tribes have been operating and managing poker games in the state. 

Further, the state legalized some forms of poker in the 1930s, such as draw and stud gambling. With this ruling, poker card rooms expanded in the Golden State, which became prime venues for law-abiding poker action.

In the late 1990s, playing online poker in a legal gray area became a reality for Californians. The California Constitution and Penal Code did not clearly authorize or prohibit such operations. Hence, this legal loophole allowed poker enthusiasts to play the card game on licensed offshore casino sites. 

In the same year, attempts were also made to officially legalize poker. A landmark court decision allowed all forms of offline poker within the state, removing any confusion surrounding the earlier poker bans.

Hence, land-based poker games are legal in California now, with around 88 licensed card rooms operating legally. What about online poker gaming? Let’s find out!

Current Legal Barriers to Online Poker in California

Strict legal and political opposition to the legalization of online poker gaming is the foremost obstacle in California. Further, mandates on tribal gaming and card rooms sometimes overlap with poker regulations. Section 330 of the California Penal Code currently bans online poker within the state border.

California’s tribes hold exclusive rights to operate casino-style gambling, granted by compacts under the Indian Gaming Regulatory Act (IGRA). They argue that online poker infringes on these rights, mainly if non-tribal entities operate these gambling platforms.

Moreover, various consumer protection organizations fuel this resistance as they consider any form of gambling an addictive habit. Such critics argue that regulating online poker could promote overexposure and make gambling too easy for otherwise highly vulnerable people. 

Hence, there have been endless legislative stalemates with no agreement on what to do about it.

Stakeholders in the Legalization Debate

Several groups play key roles in shaping California’s poker scene:

Tribal Casinos

California’s Native American tribes generate billions annually through land-based casinos. Many tribes view online poker as a competition that could impact their monopoly on gambling.

Legislators

Californian lawmakers try to balance consumer protection and compliance with federal regulations before lifting the ban on online gambling.

Card Rooms

California’s cardrooms operate under different rules than tribal casinos. The owners of these facilities usually advocate for the legalization of online poker to expand their customer base.

Economic Benefits of Legalizing Online Poker

Legalizing online poker in California could yield substantial economic benefits:

  • Tax Revenue: Licensed online poker markets would add hundreds of billions in tax revenues to the state annually. This revenue could fund other public services within the state, such as education and infrastructure development.
  • Consumer Protection: California can regulate this industry to guarantee safe and fair play for its residents. It’ll also help reduce the problems that offshore unregulated platforms bring.

The Future Outlook for Online Poker in California

While progress has been slow, there are signs of hope for online poker fans in California.

For example, some tribes are willing to support online poker legislation under the exclusivity clauses. This step will ensure native tribes have a significant stake in the market. Public support for online gambling also appears to grow, driven by the success of legalized sports betting in other states.

The signs are promising, but the road ahead remains uncertain. The legal and political complexities mean that online poker California enthusiasts may need to wait longer to play their favorite card game online hassle-free.

Social Advantages of Legalized Online Poker

Legalizing online poker in California isn’t just about revenue and market growth. There are obvious social benefits, too. A regulated environment assures responsible gaming practice via mandatory self-exclusion programs, spending limits, and esports support for players to manage their habits.

Additionally, legalization is likely to fund problems associated with gambling addictions. States with regulated online poker markets generally allocate a certain portion of tax revenue toward mental health services and addiction treatment. These measures ensure that gambling remains a source of entertainment without becoming an issue for society.

FAQs

  1. Is online poker currently legal in California?

No, online poker is not explicitly legal in California. While residents can play on offshore platforms, these sites operate outside state jurisdiction and lack regulatory supervision.

  1. Which are the best offshore poker gaming sites?

Californians can play real-money poker games on Bovada, Ignition Casino, and ACR Poker, which are regulated offshore casino sites.

  1. Are there any pending bills for online poker legalization?

Though past bills were introduced, very few survived the legislative process and were passed into law. Hence, the legalization of online poker is still pending in California.

Bottom Line

Undoubtedly, history has been kinder to poker gaming culture in California. With relaxed laws on traditional poker rooms, the online poker market also looks forward to positivity. It’s easy to see the benefits of online poker legalization, including more tax revenues and adequate consumer protection.

However, some issues still create roadblocks in the game’s legal battle. Complicated laws, tribal autonomy, and gambling addiction concerns put barriers to the legalization of online poker in California. For now, the state’s cardrooms and offshore casino sites are the only viable options to satisfy their poker gambling desires.

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ICE Barcelona 2025: Alona Shevtsova on Sends’ Vision for the Future of Gaming

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The Sends team attended the biggest and most famous gaming conference, ICE, now held in Barcelona, Spain. From the 20th to the 23rd of January, the leading gaming companies and solution providers gather for business meetings, experience sharing and networking. More than 170 countries visited, achieving the number of 55,000 visitors.

“Our team attends the ICE conference annually. Previously held in London, the financial capital and home to our head office, 2025 is the first time it’s hosted in Barcelona—and it remains as expansive and resourceful as ever. We’re thrilled to participate, connect with our partners, explore innovative solutions, and engage with market leaders. At Sends, we are committed to staying ahead in this dynamic industry, never missing an opportunity to gain fresh insights and experiences,” commented Alona Shevtsova, Director at Sends.

As the organisers of ICE 2025 said, after a rigorous, independent selection process, ICE and iGB Affiliate moved to Fira Barcelona Gran Via because Barcelona presents a compelling list of benefits, including improved logistics and operational efficiency. The location is close to Barcelona airport and is well connected to the public transport network, offering a world-class in-show and around-show experience.

It is worth mentioning that this February, Send will co-host its event in London for fintech companies. This is the third gathering in London to network and connect industry professionals. To get more information about the London Fintech Meetup, follow the link.

To get more details, keep in touch with Sends on social media: LinkedIn and Instagram.

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Industry leader Parimatch launches The Idol: Black is Back at iGB Affiliate in Barcelona

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Industry leader Parimatch launches The Idol: Black is Back at iGB Affiliate in Barcelona

 

Are you an idol? Then join us as we take iGB Affiliate Barcelona by storm this January with The Idol: Black is Back, a unique series of events including amazing deals, giveaways, and our stunning Asian Euphoria party where dark luxury fuses with Asian artistry.

A new era is dawning at Parimatch and we want to celebrate it with you in style!

Once again Parimatch’s stand E20 will be the epicenter of iGB Affiliate Barcelona, an annual highlight of the iGaming industry at the iconic city’s famous Fira Gran Via.

We’re confident that Parimatch’s stand will be the talk of the conference. Here’s what you can look forward to:

  • Fantastic deals: The latest updates and exclusive offers you can’t miss
  • Giveaways where you’ll have the chance to win unique prizes
  • Our Hall of Fame: Become part of Parimatch’s history

But wait, there’s more. As Parimatch embarks on a new era we are inviting over 500 partners and brand friends to our immersive Asian Euphoria party at a stunning location in the center of Barcelona where you will experience:

  • The party headliner – world-famous DJ Steve Aoki
  • The very best in performance art that Barcelona has to offer
  • The world of Asian luxury merging with American pop culture

Don’t miss out! Be sure to join us to witness Parimatch set new standards at booth E20 at iGB Affiliate, Barcelona, January 20-23. And don’t stop there – join the Asian Euphoria party on January 21 and see us set a new trend for the entire industry!

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