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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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Right in time for the Season of Love, Amusnet is glad to unveil its newest Online Casino portfolio addition, Diamond Plus – Valentine’s Edition.
The game offers a different perspective on one of the company’s most popular video slots, Diamond Plus. It will be available throughout the entire year, ready to bring some romance to everyone who needs it. The dazzling new game release combines a visually pleasing environment, enchanting ambient music, and a variety of vibrant symbols across the 5 reels and 10 fixed paylines.
Watch out for the Pink Diamond symbol, which is an Expanding Wild appearing on the second, third, and fourth reel to substitute for all symbols on the same reel. It also holds the reel that lands on and triggers a free respin of the other reels.
A selection of special features is also available to add an extra layer of excitement to the gameplay, making it more fun for players to engage with the game while on their journey to a world of romance.
Free Respins
The Expanding Wild symbol triggers a Free Resin. When it is activated, the reels where the Wild symbol appears are held, and the rest start to rotate automatically.
Bonus Spin Mode
During the base game, the player can receive free Bonus Spins. The Jackpot Cards feature cannot be triggered during this mode.
Gamble
Play the game and multiply your winnings through the Gamble feature!
Jackpot Cards
The Jackpot Cards bonus game is triggered at random during the gameplay to allow players to win impressive jackpots.
The post Celebrate the Season of Love with Amusnet’s Diamond Plus – Valentine’s Edition appeared first on European Gaming Industry News.
New and exciting game studio signs yet another top-tier operator to its unique subscription-based content model
BetCity, the popular online casino brand for players in the Netherlands, has become the latest big-name operator to add Cherry Play to its content offering.
Cherry Play is a new and exciting studio led by industry veteran Olga Bajela as Chief Executive Officer and has hit the market with a pioneering subscription-based commercial model.
BetCity is one of the first operators to join forces with Cherry Play, paying a licence fee instead of the standard revenue share to access the studio’s content and offer it to its players.
Cherry Play has been busy since making its market debut back in December, rolling out two classic slots like Multi Banks, Super Coin and Golden Cherry Jackpot system.
These titles are now available to players at BetCity with additional games landing in the operator’s lobby as soon as they leave the Cherry Play production line.
All of Cherry Play’s games are developed on the powerful Bragg Gaming technology stack, ensuring the highest quality of product and the most efficient operator integration.
Cherry Play is an ambitious provider on a mission to disrupt the slot provision space through great games and its unique commercial model with plans to secure licences beyond the Netherlands.
Olga Bajela, CEO of Cherry Play, said: “BetCity needs no introduction. This is one of the most successful online casino brands in the Netherlands and we are thrilled to see our first run of slot games land in its lobby.
“Studios live and die on the quality of their games, and that’s why we are committed to producing high-quality slots helped in part by the capabilities of the Bragg Gaming platform. But we also believe there are other areas in need of innovation and that’s why we offer a unique subscription model.
“We believe this combination of top-notch content and a smart commercial offering makes working with Cherry Play a no-brainer for operators in the Netherlands and soon, beyond.”
The post Cherry Play adds BetCity to growing roster of partners in the Netherlands appeared first on European Gaming Industry News.
As the UK Gambling Commission announces the launch of its consultation on proposed new rules for gaming machines, Nick Arron, lead partner for the Gambling Team at Poppleston Allen urges stakeholders to ensure they are heard
The UK Gambling Commission this week announced the launch of a 16-week consultation, seeking input on proposed new rules for gaming machines in retail venues.
The consultation focuses on technical standards and related testing strategy and aims to improve consumer protection through a number of proposed changes. The consultation is due to end on May 20.
Nick Arron, lead partner for the Betting and Gambling Team at Poppleston Allen, encouraged stakeholders such as operators and licensees to have their say on what impact these proposed changes will have, including the potential costs.
He said: “Robust stakeholder engagement is an important part of this progress. It’s important that operators have their say so that the regulatory framework balances both consumer safety and industry sustainability.
“Changes will require affected businesses to update their processes and technologies to ensure that any changes are not only implemented by the required date but also properly enforced.
“As this consultation progresses, operators will need to weigh the implications of adopting these new standards, not least the cost. While the intention is to enhance consumer protection, businesses must carefully assess the operational and financial implications of the proposed changes.
“While the Gambling Commission’s initiative is a positive step in prioritising consumer safety, the real challenge will be ensuring that the proposed regulatory adjustments are manageable for businesses already operating under thin margins.”
Tim Miller, Gambling Commission executive director for research and policy, said: “We recognise that regulatory changes that impact the design of machines can come with considerable costs.
“We are encouraging consumers, gambling businesses and other interested groups to share evidence that will assist us in measuring both the likely regulatory impacts of the proposed changes and the likely costs of implementing them.
“This evidence will be invaluable to helping make a robust assessment on whether the benefits to consumers are proportionate to the costs involved.”
The post Why stakeholders must be vocal as part of UKGC consultation on gaming machines appeared first on European Gaming Industry News.
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