Affiliate Program News
Raketech Q2 2022: Solid performance from the core portfolio of affiliation marketing and Affiliation Cloud launched
QUOTE FROM OSKAR MÜHLBACH, CEO
“Q2 of 2022 was yet another stable quarter for Raketech Group. Our core portfolio of affiliation marketing assets delivered results in line with Q1, despite challenging market conditions and low seasonality. Again, proving the strength of Raketech’s well diversified asset portfolio, as well as our well balanced vertical and geographical split. Total revenues for the quarter amounted to EUR 11.3m, equivalent to a growth of 29%.”
Q2 2022 FINANCIAL HIGHLIGHTS
- The core portfolio of affiliation marketing assets delivered solid results, despite challenging market conditions. Revenues totalled EUR 11.3 million (EUR 8.8 million).
- Organic growth amounted to -4.0% (25.7%), an effect of changed regulations on the Finnish market as well as Network sales no longer being offered on the German and Dutch markets due to re-regulations.
- US revenues amounted to EUR 1.3 million (EUR 0.3 million), as US sports entered its low season of the year.
- Sports revenues totalled EUR 3.5 million (EUR 1.3 million), corresponding to 31.0% (15.2%) of total revenues.
- Revenues from the recently launched Affiliation Cloud amounted to EUR 0.2 million (EUR 0 million).
- Adjusted EBITDA amounted to EUR 4.0 million (EUR 3.4 million), corresponding to a margin of 35.0% (38.7%). Expected seasonality effects from primarily the US market affecting the margin.
Q2 2022 OPERATIONAL HIGHLIGHTS
- Strong performance from most assets following the recent Google core update.
- Continuous investments in the US organisation and tech development such as the Affiliation Cloud to further consolidate the platform for growth.
- The company announced it has extended its revolving credit facility of EUR 15 million with Avida Finans AB up until September 2023. When utilized, the interest on the facility is EURIBOR plus 4.25% with an additional upfront extension fee. The credit facility includes an extension option and can thus be renewed annually subject to certain conditions.
SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD
- Revenues in July 2022 amounted to EUR 3.9 million (EUR 2.9 million).
CEO OSKAR MÜHLBACH COMMENTS ON THE QUARTER
Q2 of 2022 was yet another stable quarter for Raketech Group. Our core portfolio of affiliation marketing assets delivered results in line with Q1, despite challenging market conditions and low seasonality. Again, proving the strength of Raketech’s well diversified asset portfolio, as well as our well balanced vertical and geographical split. Total revenues for the quarter amounted to EUR 11.3m, equivalent to a growth of 29%.
Year over year we declined organically with 4%, entirely relating to the Finnish market as expected, stabilizing on lower levels due to changes in legislation, and our Network no longer being offered on the German and Dutch markets due to re-regulations.
Considering these factors and that Q2 of last year included both a digitalization boost due to Covid and the UEFA EURO I am therefore very happy with our Q2 performance of this year. It gives me confidence to see that our assets are holding up strong despite such tough comparison numbers and a generally negative reported Q2 iGaming sentiment.
Furthermore, as Q2 is a seasonally weaker period for sports in the US, revenues from this market were as expected lower than those in Q1, representing 12% of the Group’s total. At the same time, revenues from the Nordics were 47% of group total thanks to the strong performance from our core portfolio.
Adjusted EBITDA for the quarter came in at EUR 4m, representing a margin of 35% relating primarily to the low sports season in the US where our fixed cost base is stable, in combination with the continuously high investments pace with regards to product development, US organization and the Affiliation Cloud.
During the quarter Google rolled out one of their “core updates” that affected us in a positive direction, which is an additional testament that we are doing things right. Worth mentioning in this context is that several of our flagship assets on the, for us so important Swedish market, experienced increased organic visibility. And with regards to our latest product innovation, the Affiliation Cloud, we experienced more interest in the product than expected, which is exciting considering it is currently only in beta phase. We have therefore increased investments into this area to ensure we maximize our capacity to onboard new clients while ensuring a great user experience for both affiliates and operators. Affiliation Cloud revenues for Q2 was approximately EUR 200k.
And with regards to other investments, one of the more interesting and exciting current projects is relating to our Flagship asset Casinofeber. As of February 2023, Casinofeber will be completely operated by the central Raketech team as it is handed over from the original team. I am very excited about this, not only from a product development perspective but also very much from a cash flow perspective as the full operating cash flow from this asset will be made available for Raketech in its whole once the final earn out is settled at the end Q1 2023.
As a final quarterly highlight, I am happy to be able to mention that we have extended our revolving credit facility of EUR 15 million for yet another year on attractive commercial conditions, with the possibility of further extension based on certain criteria. The credit facility ensures we can continue to invest into organic growth while also keeping the door open for additional M&A.
OUTLOOK
July revenues came in at EUR 3.9m, relating to continuous strong performance from core assets as well promising results from Affiliation Cloud.
The second half of the year is typically stronger than the first half. And with our core products portfolio performing well, the American football season coming to a start and the FIFA World Cup to look forward to in November and December, we reiterate our full-year aim of being within the interval of EUR 50-55m in revenues with an EBITDA margin within 40-44%. I am very happy to see that our diversification strategy and strong operational delivery focus is paying off. Raketech is in a position where we are, not immune perhaps, but very resilient against sudden changes in the world around us. And not only are we resilient but also well positioned for growth with regards to products, markets, and different revenue stream on the ever changing and growing global iGaming industry. With that said I am very much looking forward to the last part of this year.
Affiliate Program News
Alpha Affiliates set to revolutionise gaming landscape with new innovative platform, Monixbet
Alpha Affiliates, the leading iGaming affiliate partner program, has announced the newest addition to its iGaming portfolio: Monixbet. Set to revolutionise the online gaming landscape with its innovative platform and extensive game selection, Monixbet is designed with a mobile-first philosophy to ensure a seamless gaming experience across all devices.
Monixbet offers a selection of over 8,000 games from 57 top-tier providers, ranging from adrenaline-pumping slots to strategic table games. Holding a Curaçao licence, all games are regulated as well as embodying responsible and fair gaming to uphold the highest standards of integrity and trust. In addition, Monixbet offers currency flexibility, embracing a broad spectrum of financial preferences that supports both fiat and cryptocurrencies.
Alongside the welcome pack for new players, which offers up to €5000, a 350% bonus, and 335 free spins, Alpha Monixbet also brings regular incentives to the table, including:
- The Monday Supercharge: Kick off your week right from the get-go with an explosive offer of up to 100 free spins.
- The Tuesday Bonus Bounty: Score up to 15% every Tuesday.
As part of the Alpha family, Monixbet offers its affiliates a golden opportunity to engage with a cutting-edge platform. By promoting Monixbet, affiliates can expect competitive conversion rates and the unwavering support of the Alpha team.
Boris Pashnev, CEO of Alpha Affiliates says: “We’re incredibly proud to share our latest foray into the iGaming arena. With its large selection of games, every aspect of the casino experience has been optimised for excitement and user satisfaction, while ensuring that variety is never in short supply. Monixbet is not just another online casino, but a revolution within digital gaming. Each spin, each hand and each play is infused with the excitement of possibility, and we are thrilled to include Monixbet within our portfolio, and continue to grow and expand our offerings.”
Affiliate Program News
Boomerang’s Affiliate Program Shortlisted for Global Gaming Awards EMEA 2024
Boomerang, with a 135% growth in partners in 2023, is shortlisted for the prestigious Global Gaming Awards EMEA as ‘Affiliate Program of the Year’
Boomerang Partners, a leading global gaming affiliate program, has been nominated for Affiliate Program of the Year in the annual Global Gaming Awards EMEA 2024, following up on the brand’s impressive achievements in 2023.
Back by solid results, Boomerang’s Affiliate Program approach expanded its affiliate network from 2,200 to over 5,200 traffic partners and extended its brand’s reach to over 70 global locations in 2023. This numerical growth was matched with high-quality maintenance, consistently generating over 15,000+ top-tier FTDs monthly and achieving conversion rates of 35% click-to-deposit and up to 70% registration-to-deposit in top markets. In 2023, Boomerang distributed over €50 million in transparent payouts to its partners and awarded the most active partners.
“Being shortlisted validates our commitment to our partners’ success through openness to affiliates of all sizes, AI retention tools, and Big data insights, with our transparency, customized promotions above-market commissions, and traffic championships for our partners. Looking ahead to 2024, we aim to grow by 30%, launch 20 new products globally, and welcome more partners, continuing to set the affiliate programs standard in the gaming industry”, – Vitalii Prokofev, CEO of Boomerang Partners, states.
The Global Gaming Awards EMEA, powered by Gambling Insider and independently adjudicated by 50 С-Suite judges with KPMG oversight, are highly respected in the gaming industry. These awards recognize the industry’s strongest performers and are considered the most trusted.
The “Affiliate Program of the Year” winner will be announced at an invite-only ceremony at London’s Hippodrome Casino on 5 February 2024, during ICE week.
Stay with Boomerang Partners for updates on the final results.
Affiliate Program News
Gamegram Launches Affiliate Program with Income Access
Income Access is delighted to announce their partnership with Gamegram Casino, an innovative online platform that combines the thrill of gaming and gambling, in addition to the launch of their new affiliate program.
Income Access will be providing their industry-leading affiliate tracking platform solution to Gamegram, as well as launching and managing their new affiliate channel. The affiliate platform will offer affiliates a wide range of marketing and analytics tools, flexible commissions, detailed performance tracking and support from a knowledgeable team with over 20 years of experience in the industry.
About Gamegram
Gamegram is an online crypto casino with a Player vs Player (PvP) twist. It bridges the gap between traditional casino experiences and the desires of digital-native Generation Z players, building an online community unlike any other. It also offers a unique experience of playing games against other real players. No tricks, no bots, and no skill needed – pure battle of luck between two players.
What Makes Gamegram Stand Out?
- PvP Gaming Innovation: Gamegram brings competitive betting to life with engaging games like Rock Paper Scissors and Russian Roulette.
- Rich Social Engagement: With global and private chats, and systems, Gamegram fosters a community where players connect and thrive.
- Crypto-Friendly Platform: Gamegram simplifies crypto transactions – deposit and play using our popular crypto options such as Bitcoin, Ethereum, and Tether.
- Honest Approach: Gamegram says NO to misleading wagering requirements, creating an environment of trust and loyalty.
Gamegram’s strategic combination of immersive PvP games, social engagement, crypto accessibility, and absolute transparency makes them a pioneering force in the online gambling space.
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