The listed affiliate announced the divestment of its Casumba assets in a fixed €12 million ($14 million/ £10 million) deal with an unnamed buyer amid Japan’s gambling crackdown.
Closed on 24 September 2025, the transaction will be paid in monthly instalments with an 8% interest through December 2029, without any upfront cash payment. Under IFRS 9 standards, the deferred consideration was measured at a fair value of about €7 million at closing. The €5 million gap between the fixed consideration and fair value reflects ongoing credit risk and the extended payment schedule.
Commenting on the sale, Johan Svensson, Raketech CEO, said it represents another step in refining the group’s portfolio and concentrating on its “core goal of creating the top commercial platform for iGaming affiliation”.
“By divesting Casumba, we eliminate regulatory exposure and unlock resources for growth opportunities. This transaction reflects our dedication to sustainable shareholder value and financial discipline,” added Svensson.
Bought for an initial €2 million in 2019, the Malta-registered assets consist of a number of Japan-facing affiliate websites. Raketech later established that it would need to pay an additional €46.5 million based on the uncapped earnout deal agreed with the founders. Since 2024, the assets continued to underperform, mainly impacted by Google core updates and regulatory changes in the country.
According to a March 2025 survey by the National Police Agency, an estimated 3.37 million Japanese residents had used overseas online casinos with around 60% of users reported addictive symptoms. The country’s latest regulation came into force on 25 September 2025, banning all gambling advertisements and prohibiting the launch of new online casinos.
Based on the Q2 2025 run rate, the Casumba assets generated annualised revenues of approximately €4.0 million with an EBITDA of €2.9 million. The affiliate will record a one-off non-cash loss of about €10 million in Q3 2025, reflecting the gap between Casumba’s book value and the IFRS 9 fair value of the consideration. The loss will not affect cash flow or operations.
Raketech recently reported a 53.8% year-on-year slump in its Q2 2025 revenue from €17.0 million to €7.8 million and divested its non-core US tipster assets. Moving forward, it will focus on developing its iGaming affiliation platform AffiliationCloud.