Raketech boosted by Lead Republik and US expansion in Q3

Raketech boosted by Lead Republik and US expansion in Q3

Raketech was boosted by income from recent acquisition Lead Republik and US growth as it posted a double-digit increase in revenue during the third quarter.

Published 11th November 2020

In a trading update for the three months to 30 September, the Stockholm-listed online affiliate and content marketing provider said revenues were up 23.9% year-on-year to €7.4m.

Casino remained the operator’s strongest segment, contributing 85.5% of total revenue compared to 67.3% in Q3 2019.

Raketech said that while sport has not yet returned to pre-Covid 19 levels, there was a significant upswing towards the end of the reporting period, most notably in relation to flagship assets TVsportsguide and Denmark’s BetXpert. Sport contributed 11.1% of revenues, compared to 27.5% in Q3 2019.

In terms of geographical footprint, revenue from the Nordics reduced from 90.4% to 80.4%, as Raketech welcomed greater input from other markets, including the US, where TVsportsguide went live ahead of schedule. It now has licences in seven US states, with Pennsylvania, Michigan and West Virginia added during Q3.

Read the full story on iGB.

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