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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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N1 Insights April’s iGaming Trends You Shouldn’t Miss

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April reflects changes that began taking shape in iGaming back in the first quarter, but are only now becoming systemic. The market is gradually shifting away from short-term optimization toward more complex strategies, where performance sustainability, GEO diversification, and a reassessment of affiliate model efficiency play a key role.

In this issue of N1 Insights, N1 Partners experts analyze how traffic structures are evolving and which scaling approaches continue to deliver results amid increasing competition.

Part 1 

1. Traffic and performance

1.1 Traffic sources most likely to show the highest volatility in April
The highest volatility is expected from Facebook, TikTok, and PPC channels, as they are directly affected by changes in moderation, algorithms, and competitive activity. Additional fluctuations are anticipated in Google UAC, where auction costs traditionally increase in April due to intensified brand activity following the end of the first quarter.

1.2 Will brands shift their priorities between traffic volume and quality in April?
In April, many brands will begin shifting their focus toward traffic quality, based on first-quarter performance insights. Priority will be given to deeper metrics – from FTD to deposits and LTV – rather than simply chasing registration volume and initial conversions.

At the same time, in certain high-growth GEOs, there will still be a willingness to invest in volume in order to capture market share more quickly, even at the expense of short-term efficiency.

1.3 What will be more challenging in April: finding new scalable setups or maintaining current volumes?
Most likely, maintaining current volumes will become more challenging, especially in highly competitive GEOs. After an active first quarter, many proven setups are already overheated, while traffic costs continue to rise.

Finding new setups remains possible; however, scaling them will take more time due to increased competition and higher requirements for traffic quality.

1.4 Changes in testing strategies for new GEOs and traffic sources in April
Affiliates are likely to shift toward shorter testing cycles and reduce test budget volumes in order to adapt more quickly to changing market conditions.

“At the same time, interest in traffic source diversification will increase: beyond the classic Facebook and Google channels, we expect a growing number of tests in alternative social platforms,” comments Vlad Chernov, Deputy Head of Affiliates at N1 Partners.

1.5 Key metrics for scaling up or cutting caps
Key metrics will continue to include CR, ROAS, ARPU, retention, and player LTV, but their role in decision-making will become even more significant. Teams will increasingly shift from evaluating “input” metrics to analyzing audience quality and long-term value.

In particular, scaling decisions will be based on early LTV signals and user behavior patterns, rather than solely on FTD volume. This will allow teams to identify underperforming setups earlier and reallocate budgets toward more sustainable traffic sources.

2. GEO priorities

2.1 GEOs that may see the highest traffic growth in April
In April, several Tier-1 countries are expected to show the strongest growth, primarily Canada, Germany, and Australia, where demand for online gambling remains stable and major brands continue to increase their marketing budgets. Growth may also be observed in Latin America (Brazil, Peru, Chile).

At the same time, some affiliates will continue scaling in Eastern Europe and CIS countries, where competition is lower than in Tier-1 markets and it is easier to test new setups.

2.2 Will the approach to Tier-1 markets change compared to Q1 2026?
The approach to GEO selection will become more selective and pragmatic. Many teams will maintain their focus on Tier-1 markets, but with stricter ROI control amid rising traffic costs and decreasing predictability of results.

At the same time, a partial budget reallocation is expected in favor of GEOs with more favorable scaling conditions – lower competition and more affordable auction dynamics. As a result, strategies will increasingly balance between the stability of Tier-1 markets and growth opportunities in less saturated regions.

2.3 Regions where the cost of player acquisition is expected to change the most
The most noticeable increase in CPA is expected in Tier-1 markets – primarily Canada, Germany, and Australia. In these GEOs, player acquisition costs are likely to continue rising amid intense competition and increasing pressure from large media buying teams.

“An additional factor will be the concentration of budgets after the first quarter: major players are scaling more aggressively, which overheats the auction and reduces the effectiveness of standard traffic acquisition approaches,” notes Vlad Chernov, Deputy Head of Affiliates at N1 Partners.

As a result, the entry threshold for new campaigns is rising, and achieving target metrics will require more precise optimization and stronger setups.

2.4 Key GEOs for growth at the beginning of Q2
Key GEOs may include several Tier-1 markets such as Canada, Germany, and Australia, as well as a number of Tier-2 and Tier-3 countries, including Brazil, India, Turkey, Kazakhstan, and Chile.

These countries remain a priority for many brands due to strong purchasing power, higher player LTV, and stable demand for licensed products. Despite high competition and traffic costs, Tier-1 markets continue to attract large affiliate teams, as with proper optimization they offer the most sustainable long-term profitability.

3. Affiliate Marketing Dynamics

3.1 How will the balance between new partners and established affiliate teams change in April?
The market will continue to consolidate around large and experienced teams that have the resources for scaling, optimization, and rapid budget reallocation. Their advantage will strengthen due to accumulated expertise, access to data, and more stable traffic acquisition processes.

At the same time, new teams will continue to emerge; however, the barrier to entry will keep rising. Without access to unique traffic sources, technological advantages, or niche expertise, it will become increasingly difficult for them to compete with established players and reach comparable volumes.

3.2 Changes in affiliates’ approach to selecting partner brands
Affiliates are increasingly shifting their focus toward non-financial factors when choosing partners – primarily brand reputation, payment reliability, and transparency of statistics. These criteria are becoming critical amid rising risks and the instability of certain offers.

As a result, the trend toward long-term partnerships is strengthening: more teams are favoring sustainable collaboration models over short-term offers with potentially high but unpredictable payouts.

“This approach reduces operational risks and enables building a more stable long-term unit economics,” says Vlad Chernov, Deputy Head of Affiliates at N1 Partners.

3.3 Types of partners that will see the most active growth in April
Media buying teams working with paid traffic will continue to grow most actively, along with content affiliates and SEO-driven projects focused on long-term organic traffic acquisition. These models remain key due to their scalability and more predictable long-term economics.

At the same time, growth in alternative sources is accelerating – particularly influencer and Telegram traffic, which attract affiliates with help of flexibility, a lower barrier to entry, and the ability to test hypotheses more quickly.

3.4 What changes in partner behavior are likely to be most noticeable in April?
Partners will increasingly diversify their traffic sources and GEOs to reduce dependence on any single channel. More cautious scaling and deeper analysis of unit economics can also be expected, especially in light of first-quarter results.

Part 2

1. PR trends

1.1 Top PR trends in April 2026
In the second quarter, PR activity noticeably picks up: after revisiting strategies at the beginning of the year, brands start engaging more actively with media and building more structured communication. Against the backdrop of increasing competition, having a strong offer alone is no longer enough – what matters is how the brand presents itself and what it communicates.

“At the same time, formats are also evolving: traditional press releases are gradually taking a back seat, giving way to case studies, interviews, and more ‘authentic’ content,” says Maria Bobrovskaya, Team Lead PR, Event, Production at N1 Partners.

The market is saturated, so those who deliver real value and communicate with their audience not in abstract terms, but through experience and concrete results, are the ones who win.

2. Brand marketing strategy

2.1 Which aspects of marketing strategy should brands focus on in April amid increasing competition?
The key focus should be on differentiation through brand positioning, not just through offer terms. In a market saturated with similar propositions, partners begin to make decisions based not only on numbers, but also on trust and stability.

This is reflected in affiliate behavior: strong partners are more likely to work with brands that have a clear reputation and predictable processes.

2.2 What changes in marketing strategy should brands consider in April to maintain a competitive advantage?
Companies are gradually shifting their focus from short-term acquisition to long-term partner retention, strengthening efforts in content, PR, loyalty programs, and community development. This approach not only reduces dependence on a constant influx of new affiliates but also improves the quality of engagement with existing partners.

This shift is largely driven by market saturation: acquisition costs continue to rise, while competition for active affiliates intensifies.

“In such conditions, retaining and developing the existing partner base becomes strategically more effective than aggressively acquiring new partners, especially given the increasing demands for transparency, support, and level of service,” notes Maria Bobrovskaya, Team Lead PR, Event, Production at N1 Partners.

2.3 How can marketers find the right balance between short-term results and long-term brand development?
The balance is achieved through a combined strategy: performance drives immediate results, while brand communications ensure long-term stability. If a brand focuses only on short-term gains, it becomes vulnerable in a highly competitive environment.

2.4 The most effective approaches to marketing budget allocation in Q2
In the second quarter, many companies begin reallocating budgets toward a more diversified strategy. In addition to performance channels, there is increased investment in PR activities, content marketing, and event participation.

This shift is driven by the fact that relying solely on paid traffic is becoming less stable, prompting brands to seek ways to strengthen their organic presence and build trust.

  1. Marketing challenges

3.1 What new challenges may marketing teams face at the beginning of Q2?
The key challenge remains the growing competition for partner attention, making it increasingly difficult for brands to differentiate themselves amid similar terms and offers. In an oversaturated market, standard acquisition tools are no longer delivering consistent results.

As a result, marketing teams are forced to shift their focus from purely commercial terms to building reputation, improving communication quality, and shaping overall brand perception. This includes more systematic work with content, greater transparency in interactions, and the development of long-term relationships with partners.

3.2 Which marketing strategies may become less effective in April?
Approaches based solely on financial terms are gradually losing effectiveness. When many programs offer similar payouts, partners begin to pay attention to other factors – such as brand reputation, quality of support, and operational stability.

3.3 Will it become more difficult to attract strong partners amid the large number of affiliate programs on the market?
This is largely due to the fact that strong affiliates have already formed a stable pool of partners and have become significantly more selective when choosing new brands. Decisions are increasingly made not only based on terms, but also considering reputation, stability, and quality of interaction.

In practice, this results in a longer onboarding cycle: new programs require more time to pass the evaluation stage and build trust. As a result, partnership launches slow down, and affiliate expectations become more demanding.

3.4 What signals in April may indicate that brands should reconsider their marketing strategy?
A decline in partner engagement, weak response to new products, and lack of brand visibility in the media are key signals.

“This is due to the fact that in a highly competitive environment, even a slight drop in activity quickly impacts a brand’s position,” says Maria Bobrovskaya, Team Lead PR, Event, Production at N1 Partners.

April confirms a key shift in the iGaming market: increasing competition and rising traffic costs are driving higher demands for quality, sustainability, and a more strategic approach to marketing. Quick tactics and short-term solutions are gradually giving way to more systematic efforts – with a focus on LTV, partner retention, and traffic source diversification.

Join the first tournament of the N1 Traffic Cups 2026 series – the N1 SEO Traffic Cup by N1 Partners!

Period: March 1 – April 30, 2026
Results: by May 10
Entry: from 20 FTD per brand

Why N1 Partners:

  • 14+ casino and sportsbook brands with Reg2Dep up to 70%
  • 10+ Tier-1 GEOs
  • CPA up to €700 and RevShare up to 45% + NNCO for top partners + hybrid models

Be number one with N1!

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Join N1 SEO Traffic Cup by N1 Partners: Only Performance Wins the Game

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N1 SEO Traffic Cup – the first tournament in the N1 Traffic Cups series by N1 Partners is gaining momentum. Throughout 2026, N1 Partners’ affiliates can expect a full-scale competitive roadmap: from individual cups to a global championship. The traffic tournament series will expand opportunities for teams focused on systematic performance growth and scaling their results.

The season kicks off with the N1 SEO Traffic Cup is an exclusive tournament for SEO teams featuring a level-based system and brand coefficients. Drive SEO traffic to N1 Partners’ casino and betting brands, earn points, and level up in the tournament – because the higher your Level, the better the prizes!

Current N1 Partners affiliates already driving SEO traffic to brands within the portfolio are automatically enrolled and registered in the tournament – for full registration details, please contact your account manager. 

New partners should register via the following link: https://n1.partners/traffic-cups

Tournament period: March 1 – April 30, 2026
Results: May 10, 2026
Participation requirement: generate at least 20 FTDs per product during the tournament period to be included in the list of participants.

Tournament Mechanics 👇🏼

  • The N1 SEO Traffic Cup features a level-based system where rewards depend on your N1 Cup Score – the total number of points earned.
  • The more brands you work with, the higher the coefficient – and the higher your final N1 Cup Score.
  • N1 Cup Score = FTD × Brand Coefficient
  • 1 point = 1 FTD

More brands – higher results 👇🏼

The number of brands affects the coefficient as follows: https://bit.ly/n1seotrafficcup_launch_europeangaming

  • 1 active brand: coefficient 1x
  • 2–3 brands: coefficient 2x
  • 4–5 or more brands: coefficient 5x

Prizes & Rewards 👇🏼

There are 4 prize levels in total. Each team that earns the required number of points and reaches Level 1, 2, 3, or 4 will be able to choose a prize from the corresponding prize pool or receive its cash equivalent:

Level 1: 7,000+ points – €25,000 per team

Level 2: 3,500–6,999 points – €15,000 per team

Level 3: 1,500–3,499 points – €7,000 per team

Level 4: 500–1,499 points – €5,000 per team

Among the prizes: trips to the world’s top sporting events – from Formula 1 in Monaco to the 2026 FIFA World Cup matches in the USA, a zero-gravity flight experience, an all-inclusive dream vacation in the Maldives, BMW and Ducati bikes, Apple gadgets, Cartier jewelry, Rolex watches, and much more.

Attention: multiple teams can qualify within each level. This means your final result depends solely on your own performance – the volume of traffic generated and the number of brands you work with. Each team receives the reward assigned to its respective prize level.

Even if you don’t hit a prize level, you’re still in the game – three bonus prizes will be raffled: an iPhone, a PlayStation 5 Pro, and exclusive merch.

“N1 SEO Traffic Cup is not just a tournament, but a systematic growth tool for SEO teams. We set out to create a mechanic that rewards not only volume, but also a strategic approach to working with brands. The level-based system and brand coefficients allow partners to directly influence their results and scale them consciously. In 2026, we are focusing on performance, transparency, and long-term partnerships – and this tournament marks a new chapter in N1 Partners’ large-scale promotional strategy,” – Alexa Bond, Head of Affiliates at N1 Partners.

Tournament details and registration are available via the link: https://bit.ly/n1seotrafficcup_launch_europeangaming

N1 SEO Traffic Cup – only performance wins the game!

Continue Reading

News

Join N1 SEO Traffic Cup by N1 Partners Only Performance Wins the Game

Published

on

N1 SEO Traffic Cup – the first tournament in the N1 Traffic Cups series by N1 Partners is gaining momentum. Throughout 2026, N1 Partners’ affiliates can expect a full-scale competitive roadmap: from individual cups to a global championship. The traffic tournament series will expand opportunities for teams focused on systematic performance growth and scaling their results.

The season kicks off with the N1 SEO Traffic Cup is an exclusive tournament for SEO teams featuring a level-based system and brand coefficients. Drive SEO traffic to N1 Partners’ casino and betting brands, earn points, and level up in the tournament – because the higher your Level, the better the prizes!

Current N1 Partners affiliates already driving SEO traffic to brands within the portfolio are automatically enrolled and registered in the tournament – for full registration details, please contact your account manager. 

New partners should register via the following link: https://n1.partners/traffic-cups

Tournament period: March 1 – April 30, 2026
Results: May 10, 2026
Participation requirement: generate at least 20 FTDs per product during the tournament period to be included in the list of participants.

Tournament Mechanics 👇🏼

  • The N1 SEO Traffic Cup features a level-based system where rewards depend on your N1 Cup Score – the total number of points earned.
  • The more brands you work with, the higher the coefficient – and the higher your final N1 Cup Score.
  • N1 Cup Score = FTD × Brand Coefficient
  • 1 point = 1 FTD

More brands – higher results 👇🏼

The number of brands affects the coefficient as follows: https://bit.ly/n1seotrafficcup_launch_europeangaming

  • 1 active brand: coefficient 1x
  • 2–3 brands: coefficient 2x
  • 4–5 or more brands: coefficient 5x

Prizes & Rewards 👇🏼

There are 4 prize levels in total. Each team that earns the required number of points and reaches Level 1, 2, 3, or 4 will be able to choose a prize from the corresponding prize pool or receive its cash equivalent:

Level 1: 7,000+ points – €25,000 per team

Level 2: 3,500–6,999 points – €15,000 per team

Level 3: 1,500–3,499 points – €7,000 per team

Level 4: 500–1,499 points – €5,000 per team

Among the prizes: trips to the world’s top sporting events – from Formula 1 in Monaco to the 2026 FIFA World Cup matches in the USA, a zero-gravity flight experience, an all-inclusive dream vacation in the Maldives, BMW and Ducati bikes, Apple gadgets, Cartier jewelry, Rolex watches, and much more.

Attention: multiple teams can qualify within each level. This means your final result depends solely on your own performance – the volume of traffic generated and the number of brands you work with. Each team receives the reward assigned to its respective prize level.

Even if you don’t hit a prize level, you’re still in the game – three bonus prizes will be raffled: an iPhone, a PlayStation 5 Pro, and exclusive merch.

“N1 SEO Traffic Cup is not just a tournament, but a systematic growth tool for SEO teams. We set out to create a mechanic that rewards not only volume, but also a strategic approach to working with brands. The level-based system and brand coefficients allow partners to directly influence their results and scale them consciously. In 2026, we are focusing on performance, transparency, and long-term partnerships – and this tournament marks a new chapter in N1 Partners’ large-scale promotional strategy,” – Alexa Bond, Head of Affiliates at N1 Partners.

Tournament details and registration are available via the link: https://bit.ly/n1seotrafficcup_launch_europeangaming

N1 SEO Traffic Cup – only performance wins the game!

Continue Reading

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