The Condor Affiliates Team wishes you a very successful 2017!
During the holidays they have been working on interesting promotions for your players to help you increase your revenues. Condor Affiliates brands have a full list of reloads, free spins and cashbacks ready for your customers!
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- LAC is coming up – have you scheduled a meeting?
The London Affiliate Conference is knocking on the door and Condor Affiliates are anxious to meet you in person! This year the LAC will be held in a new venue – the Excel, from the 9th till the 12th of February. So hurry up and make sure to schedule a meeting with your Affiliate Manager!
We have a lot more in store for you and your players. Stay tuned!
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LAC – SCHEDULE A MEETING
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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.
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.
AstroPay expands services with the launch of Global Affiliates Programme
AstroPay, the online payment solution of choice for millions of users worldwide, has launched a flagship global Affiliate Programme to provide revenue generating opportunities to individuals and businesses that want to generate online income and grow their business. The new programme is aimed at increasing AstroPay’s consumer base worldwide, while ensuring that those who are professionally dedicated to affiliate marketing can rely on a solid partner to thrive.
AstroPay launched the programme to enable affiliate partners access to special deals where they can generate income on an ongoing basis for every new user that joins the payment platform. The programme offers up to 20% revenue share commission, as well as dedicated teams and expertise on sales conversion. Affiliate partners will be able to rely on multilingual support and local experts for any of their needs and will also benefit from the AstroPay payment platform/solutions that have been tested and optimised for cross-border payments.
AstroPay will welcome a diverse range of partners including platforms, comparison sites and content creators in the payment industry as well iGaming, forex trading, and many others.
The programme will be available across countries in Asia, Africa, Latin America and Europe where AstroPay is available, and through hundreds of merchants that offer AstroPay as a payment option.
Leonardo Alonso, Head of Affiliates at AstroPay, said: “I am excited to see our new programme go live today. The Affiliate Programme is a new way of doing business with AstroPay. All those who are professionally dedicated to affiliate marketing will be very welcome and we look forward to working together and rewarding partners with a robust partnership that provides added value through an alternative way to continue growing their business.”
MiFinity launches the most competitive affiliate programme in the industry
MiFinity Affiliates affirms the company’s commitment to growth with the highest revenue commission in the industry, adding more value for merchants and affiliates, and complementing its growing portfolio of payment solutions.
MiFinity, the secure iGaming eWallet, has launched its affiliate programme with the highest revenue commission in the industry. Paying up to 35%, and with commission paid on all transfer to and FX fees, the MiFinity team has already attracted significant interest in pre-launch sign-ups from new affiliates. To celebrate its launch, MiFinity Affiliates will be offering an additional 10% commission on all rev-share fees for affiliates that sign up before the 15th July 2022!
“We’re very excited to launch MiFinity Affiliates,” said MiFinity CEO Paul Kavanagh. “In the last 18 months, we have experienced rapid growth in terms of customers, transactions, operators, services, and market penetration. So, it’s the perfect time to launch the affiliate programme and add another great service to our offering”.
“MiFinity Affiliates is integral to our ambitious growth plans for 2022 and beyond. Our success is intrinsically linked to the success of our merchants and affiliate partners, which is why we’ve designed an affiliate programme that offers the highest commission rates, paying lifetime commissions, to help them achieve more.”
MiFinity Affiliates supports the growth of MiFinity’s merchants and industry affiliates, helping companies increase conversions and generate additional revenue. With the potential to earn more with MiFinity than any other eWallet provider, MiFinity backs up its impressive commission rate with rock-solid affiliate tools and marketing support.
Kieron Nolan, MiFinity’s CFO, explains, “Our dedicated affiliate marketing team has years of experience helping companies drive conversions and revenue through bespoke campaigns and their expert support. As well as investing in talent, we have also invested significantly in our enterprise affiliate platform to help our affiliate partners manage their programmes, track conversions and access payments. We think it’s a fantastic opportunity for our affiliate partners to accelerate their growth, along with ours.”
MiFinity’s eWallet has already disrupted the payment space by going above and beyond to lower transaction costs for its users. As well as super low fees for standard transactions, MiFinity provides users in the EU and UK with a free virtual IBAN that allows transfers to the eWallet with no fees to pay.
Paul Kavanagh said, “Our users are global customers who can use their eWallet at any of our merchants’ online sites, currently over 300 live iGaming brands. However, they can also use it to send money to almost anywhere globally with instant eWallet to eWallet transfers and via money transfer.”
The MiFinity eWallet is available in 20 languages and 15 currencies and has the greatest geographic reach of any iGaming wallet, with a global network of payment partners and over 40 integrated payment methods for fast and secure transactions.
Paul Kavanagh attributes MiFinity’s focus on user experience and innovation in the payment space to the company’s record growth. He said, “I’m proud to say that as well as seeing significant growth in new customer acquisitions, we also have the highest customer retention rate in the industry. I believe that’s because we’ve focused on making transactions easy and secure, and building great relationships with our user community.”
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