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Raketech Interim report Q1 2021
QUOTE FROM OSKAR MÜHLBACH, CEO
”The first quarter of 2021 was a solid quarter for Raketech. Despite Q1 traditionally being a slower quarter, revenues came in in line with Q4, totaling EUR 8.3m. This equals an annual growth rate of 27% whereof 5% was organic. EBITDA margin reached 39% which, considering continuously significant investments into R&D and geographical expansion, is comforting.
FIRST QUARTER 2021
- Revenues totalled EUR 8.3 million (EUR 6.5 million) representing an increase of 26.6%
- Organic growth amounted to 5.4% (-10.7%)
- NDCs (New Depositing Customers) amounted to 39,874 (32,278), representing an increase of 23.5%
- EBITDA amounted to EUR 3.2 million (EUR 2.6 million), corresponding to a margin of 38.7% (40.2%)
- Operating profit amounted to EUR 1.6 million (EUR 1.4 million), corresponding to a margin of 18.9% (20.9%)
- Profit for the period amounted to EUR 1.1 million (EUR 1.1 million)
- Earnings per share amounted to EUR 0.03 (EUR 0.03)
EVENTS DURING FIRST QUARTER 2021
- There were no significant events during the quarter
SUBSEQUENT EVENTS AFTER THE END OF THE PERIOD
- Revenues in April, 2021 of EUR 2.8 million (EUR 2.4 million).
CEO OSKAR MÜHLBACH COMMENTS ON THE QUARTER
“With regards to margin it is worth noticing that our lower margin network revenues now represent a fair share of our total revenues and that our Finance vertical, which was on the contrary very strong with regards to margin, no longer are in the numbers. In practice this means that our operational efficiency continues to be high, and that growth from our core operations can be expected to have positive impact on margin over time, alternatively to be used to further accelerate growth by developing new products, offerings, enter into new geographies and more.
Primary growth drivers in the quarter were our Japanese and US efforts, as well as continuously solid performance from our Network sales. Once again Japan stands out positively, delivering record numbers on all KPIs, spanning from traffic/sessions to monetization. And in the US, the Superbowl in combination with our newest licenses in the states of Virginia and Michigan, significantly pushed the needle, mid quarter. However, this needle was to some extent, but as expected, slightly pushed back by low seasonality on other markets, increased gambling tax in Denmark, Casinofeber still being lower than previously and payment blocks in Norway.
Our sports share of total revenues increased to 17%, representing an annual growth of 27%, much thanks to our US assets. And our non-Nordic revenues furthermore increased to 35%, which not only is all time high, but also a major strategic milestone in our quest to lower our dependency on the Nordics by expanding geographically. Sweden, which currently represents 38% of the group’s total revenues, compared to 55% last year same period is however still by far our largest market, even though the dependency has decreased significantly. Primarily, the development is supported by acquired additional revenues on new markets as well as strong performance on other markets – with Japan leading the way. After experiencing an extraordinary growth during 2020, which continued the first quarter 2021, it is satisfying to conclude that Japan now is representing 11% of the group’s total. Additionally, the US is representing 6% of total, which considering the short time frame should be interpreted as a sign of Raketech having high ambitions on the American market.
Outlook
I am pleased to be able to conclude that the positive momentum we showed in Q4 continued into Q1 and resulted in yet another stable quarter. Furthermore, April revenues amounted to EUR 2.8m, despite the US slowing down slightly after the Superbowl peak.
The Raketech team is currently focusing on ensuring we maximize the potential from the European Championships in Football coming up in June in addition to our continuous efforts to ensure we deliver on strategic goals with regards to geographical expansion and commercial diversification, through R&D as well as M&A.
Finally, I want to take the opportunity to thank the Chairman of the Board; Christian Lundberg, who has declined re-election as of this year’s AGM in May. Thank you Christian, for sharing your wisdom and for being such a great support, to me personally and to the whole team at Raketech. And also, a warm welcome to industry veteran Ulrik Bengtsson who is nominated to take on the role after Mr Lundberg. I am very much looking forward to taking Raketech to new levels together!
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Baltics
All Gambling Halls in Riga Threatened with Closure – Industry Raises Alarm

Following applications by three companies, the Constitutional Court (CC) has initiated a case concerning restrictions on gambling operations in Riga, the court announced.
This is not the first time the issue of gambling regulation in Riga has reached the CC. Just last year, the court ruled in another case that a blanket ban on gambling across the entire administrative territory of Riga was unconstitutional. Afterwards, the city council promised to propose a new mechanism for restricting gambling. That mechanism is now also under review by the court.
The new case was initiated on the basis of applications by SIA Alfor, SIA Klondaika and SIA Olympic Casino Latvia regarding sections 2 and 3 of the Riga City Council’s binding regulations “On Restrictions of Gambling Operations in the Administrative Territory of Riga” adopted on the 26th of March.
The contested provisions define the places and areas in Riga where gambling is not allowed, as well as the municipality’s actions in cases where permits have already been issued for locations where gambling is now prohibited.
Gambling is prohibited in municipal-owned properties, neighbourhood centres, educational institution premises and within 300 meters of them, as well as in railway stations, bus stations, airports and passenger ports, within 500 meters of such transport hubs and within 300 meters of other public transport stops. Restrictions also apply to certain functional zones, cultural monuments and protected areas defined in Riga’s spatial plan. However, the restrictions do not apply to four- and five-star hotels.
In addition, the contested provisions stipulate the cancellation of previously issued permits if gambling takes place in prohibited areas, and that any issued permit automatically expires five years after the relevant Riga City Council decision comes into force.
The applicant companies, which hold permits to operate gambling halls in Riga, argue that although the contested rules define specific places and areas where gambling is prohibited, in practice they amount to a blanket ban on such business throughout the city.
They argue that the restrictions limit business activity and property rights, and violate the principles of legal certainty and legitimate expectations. Therefore, they claim the rules are inconsistent with Articles 1 and 105 of the Constitution.
Article 1 states that Latvia is an independent democratic republic. Article 105 provides that everyone has the right to property, that property must not be used against the public interest and that property rights may only be restricted by law.
The Constitutional Court has invited the Riga City Council to submit a written response by the 27th of October, outlining the facts and legal reasoning. The case preparation deadline is the 27th of January, 2026. The court will decide on the type and date of proceedings after preparation.
As previously reported by LETA, the new gambling restriction rules in Riga entered into force on the 1st of April.
A five-year transition period is provided for the cancellation of previously issued permits.
After adopting the rules, municipal officials admitted that all currently known gambling halls are located in areas where gambling will be banned, meaning the new regulations foresee the closure of all existing gambling halls in Riga.
At the same time, the municipality emphasized that the restrictions do not cover the entire city and do not affect operators’ rights to open or expand gambling facilities in four- and five-star hotels.
The council also claimed that the rules were developed based on Constitutional Court recommendations and the results of public consultations held in February this year.
The Latvian Licensed Gambling Association had already announced in the spring that it would most likely challenge the new restrictions in the Constitutional Court, arguing that they are “neither proportionate nor lawful.”
Source: bnn-news.com
The post All Gambling Halls in Riga Threatened with Closure – Industry Raises Alarm appeared first on European Gaming Industry News.
Latest News
French Regulator Launches New Responsible Gambling Campaign

The French gambling regulator ANJ, in partnership with the sports management platform SportEasy, has launched a campaign aimed at raising awareness about the risks of sports betting and promoting responsible gaming practices. As announced by SportEasy, the initiative focuses on amateur sports and seeks to educate players and clubs about the potential dangers associated with betting.
As part of the campaign, 14 unnamed amateur clubs across France will be selected to participate. These clubs will act as prevention ambassadors by sharing key messages with their members. To support their efforts, the organisers will provide sports kits featuring awareness messages, along with financial assistance of €450 per club to help fund operations and projects.
In total, 196 kits will be distributed, and €6,300 will be allocated to the participating clubs. The campaign underlines a broader commitment to protecting athletes and reducing the influence of gambling on amateur sports. Applications for club participation are currently open.
SportEasy, which holds an official French gambling-related license granted in 2018, has been recognised for its expertise in managing amateur sports clubs and teams. The platform’s experience in coordinating large-scale campaigns and engaging thousands of clubs nationwide positions it as a key partner for ANJ in implementing effective prevention measures against gambling-related risks.
The post French Regulator Launches New Responsible Gambling Campaign appeared first on European Gaming Industry News.
Latest News
8th Safer Gambling Week: Young People in the Spotlight

This year, the National Betting Authority (NBA) is adopting a fresh and youthful communication style, speaking directly to young people and young adults.
The campaign’s core aim is to remind everyone that gambling responsibly is not only the smartest choice—it’s also the coolest. By encouraging people to set limits before they play, the NBA is showing what is truly safer to do than gambling without control.
Now an established annual institution, Safer Gambling Week brings together all stakeholders in the gambling sector to prevent harmful behaviours and strengthen protective measures. It also gives the public the chance to learn about safe betting practices and the risks associated with excessive gambling. Throughout the week, a series of awareness-raising initiatives will highlight the self-protection tools available to players, the harmful effects of problem gambling, as well as the support and treatment services that anyone can access if they feel their gambling has gone beyond safe limits.
As in previous years, the Week will open with the Safer Gambling Conference, featuring leading academics, industry professionals and representatives from both the public and private sectors. Throughout the week, the agenda will include presentations, seminars, hands-on workshops, and interactive activities—all designed to give the public practical knowledge and effective prevention tools.
Panayiotis Trisokkas, President of NBA, said: “Safer Gambling Week is one of our flagship awareness and prevention actions under the NBA’s Safer Gambling Strategy. Each year, we see growing interest from both the public and organisations supporting the campaign. Society is now more aware and better informed about the importance of safe gambling. Our goal remains to foster a culture of prevention and build a strong network of protection for players and society as a whole.”
The post 8th Safer Gambling Week: Young People in the Spotlight appeared first on European Gaming Industry News.
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