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
Genome and Chilli Partners join forces to revolutionize iGaming affiliate payouts
Leading the charge in the convergence of financial technology and iGaming, Genome, a cutting-edge electronic money institution, is thrilled to announce its strategic partnership with Chilli Partners, a prominent iGaming affiliate program specializing in casino games.
The collaboration marks a pivotal moment in the iGaming industry, bringing together Genome’s expertise in online financial services and Chilli Partners’ prowess in affiliate marketing. The partnership is set to redefine the landscape of affiliate payouts, offering an array of benefits to both affiliates and the iGaming community at large.
“We are excited to embark on this journey with Chilli Partners. By combining our financial expertise with their influential position in the iGaming affiliate space, we aim to set new standards for efficiency and innovation in affiliate payouts,” – noted Genome’s CEO Daumantas Barauskas.
For one, the partnership offers efficient payouts. Affiliates can now enjoy expedited and secure payouts through Genome’s state-of-the-art financial infrastructure, enhancing their overall experience and satisfaction.
It also provides global reach for Chilli Partners, as it can extend its reach to affiliates worldwide with Genome’s international payment capabilities. This allows Chilli Partners to foster a more diverse and expansive network.
The partnership streamlines financial workflows, ensuring seamless transactions and reducing administrative overhead for Chilli Partners, allowing them to focus on delivering top-notch affiliate services.
Genome is all about innovation in payments and online financial services. This approach brings new possibilities for payment options, providing flexibility and convenience for affiliates participating in the Chilli Partners program.
Lastly, the collaboration prioritizes compliance and risk management, assuring affiliates of secure and compliant transactions in accordance with industry regulations.
“This partnership aligns perfectly with our commitment to providing the best possible experience for our affiliates. Genome’s advanced financial services will play a crucial role in elevating our affiliate program to new heights”, – added Clayton Zammit Cesare, Head of Affiliates at Chilli Partners.
As the iGaming industry continues to evolve, Genome and Chilli Partners stand united in their dedication to driving positive change, innovation, and reliability. The partnership is poised to create a ripple effect, positively impacting the entire iGaming ecosystem.
About Genome
Genome is a leading EMI that provides innovative financial services, including batch payouts, SWIFT, and SEPA transfers. With a focus on efficiency and compliance, Genome empowers businesses across various industries, including iGaming, to streamline financial operations and enhance user experiences.
For more information, please visit https://genome.eu/
About Chilli Partners
Chilli Partners is a prominent iGaming affiliate program specializing in casino games. With a commitment to excellence, Chilli Partners connects affiliates with top-tier iGaming brands, offering a lucrative partnership that includes competitive commission structures and tailored support.
For more information, please visit https://chillipartners.com/
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.”
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.
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