Latest News
Raketech Streamlines US Operations with Sale of Non-core Advisory Business
Raketech announced that the Company has reached an agreement to divest its non-core US advisory business. The total sale proceeds amount to USD 2.25 million settled partially on closing and via an ongoing revenue share agreement.
In December 2021, Raketech acquired the US business ATS Consultants Inc (ATS). ATS consisted of several high-value lead-generating sports tipster websites, highly dependent on a manual lead conversion sales team.
Over the past year, the Company has successfully increased traffic to its US tipster websites and transitioned the business model from a manual, high-touch process to a fully digital lead conversion model for multi-capper picks and predictions (MCP).
This success led to a comprehensive review of the US business operations and assets, which resulted in the decision to divest the high-touch US tipster advisory sales business. The sale aligns with the Companyâs strategy to focus on its core digital strengths and maximise growth opportunities.
The Company will continue to leverage its flagship US assets, Winnersandwhiners.com and Statsalt.com, along with picksandparlays.com, which together attract approximately 50 million sessions annually.
Key highlights:
- The review, completed in Q2 2024, highlighted the significant potential for US digital subscription revenues and opportunities to increase affiliation revenues from our high-value tipster website assets.
- Strong traffic development has led to a significant increase in MCP sales and higher affiliation marketing revenue from leading US sportsbook operators.
- The review identified the underperforming high-touch advisory operations as increasingly non-core and subscale.
- An agreement has been reached to sell the tipster advisory operations to its management. Revenues for the 12 months to the end of Q1 2024 were USD 4 million with minimal EBITDA contribution. The total sale proceeds amount to USD 2.25 million settled partially on closing and via an ongoing revenue share agreement.
- In addition, the Company has signed an exclusive lead generation agreement guaranteeing a minimum fee of USD 250k over the next 12 months.
- The transaction is expected to close at the latest on 31 August 2024. The sale will result in a one-off non-cash impairment charge of approximately EUR 10m for the US assets.
Johan Svensson, CEO of Raketech, said: âThis strategic sale is an important step in streamlining our operations and focusing on our core strengths. By leveraging our high-quality US operations, our strategy is to maximize the growth potential in digitalized subscription and affiliate marketing revenues and expand our sub-affiliate marketing and partnership revenue streams. Despite the one-off non-cash impairment charge, we are confident that this move will enhance our focus, drive improved performance, and deliver long-term sustainable growth and value creation.â
Canada
Gift Responsibly: Lottery Tickets Arenât Childâs Play
While sharing gifts with family and friends is a wonderful tradition during the holiday season, Ontario Lottery and Gaming Corporation (OLG) reminds parents and adults that all lottery products, including INSTANT tickets, are a form of gambling and are not suitable gifts for children and minors.
While lottery products make great gift ideas for a variety of special occasions, these products are for adults only. Itâs vital that parents and adults understand the proven risks and impacts associated with underage gambling. If you decide to buy lottery gifts for friends and family, please ensure the recipients are at least 18 years of age and older.
There is extensive free information and various resources available dealing with youth and gambling:
The YMCA Youth Gambling Awareness Program (YGAP) is a free service funded by Ontario Ministry of Health and Long-Term Care to raise awareness among youth of gambling risks, how to make informed decisions, and healthy, active lifestyles.
The Gambling, Gaming and Technology Use (GGTU) program at the Centre for Addiction and Mental Health (CAMH) supports addictions and mental health service providers through continuing professional development, digital tools and resources, and facilitating knowledge mobilization activities related to problem gambling, video gaming, and internet addiction.
The Responsible Gambling Council (RGC), an independent non-profit organization focused on the prevention of problem gambling in Canada and worldwide, with information on Teens or Young Adults and gambling.
Also, OLGâs award winning PlaySmart.ca program can help parents understand the facts when it comes to games, and concepts like odds and randomness. Thereâs also a âFinding Helpâ section with links to the support resources above and more.
OLG has supported the Holiday Campaign from the National Council of Problem Gambling and the North American Association of State and Provincial Lotteries (NASPL) for many years, which encourages lotteries in Canada, US, and around the world to promote the important message that lottery products are not suitable for children at any time.
Latest News
WSOP Issues Major Rule Change to Electronic Device Use Ahead of Paradise Series
The World Series of Poker (WSOP) Paradise series is just days away, and poker players attending need to be made aware of a rule change that will impact the use of electronic devices at the table.
Play begins in the Bahamas Dec. 6, and the series features 13 live gold bracelet events (plus two online). The second annual festival at the Atlantis Paradise Island is highlighted by the record-setting $25,000 WSOP Super Main Event starting Dec. 9, the first ever $50 million guaranteed prize pool.
Jonathan Tamayo won the WSOP Main Event for $10 million this past summer in Las Vegas. Controversy surrounded the victory after poker fans noticed his rail, which included poker pros Joe McKeehen and Dominik Nitsche, had a laptop open with apparent real-time assistance (RTA) software visible.
Tamayo would occasionally converse with his rail during the final table, and that led some to question if he had an unfair advantage. But no one has presented any evidence to prove he broke any rules or won the tournament because of an edge gained from his rail. Still, the WSOP didnât have a rule in place to prevent potential controversies such as this to arise. They do now, however.
Kevin âkevmathâ Mathers shared a screenshot of a new rule on Electronic Assistance and Coaching that would essentially prevent rail assistance, at least during the WSOP Paradise series.
âPlayers and spectators are not allowed to use charts, apps, or any other form of electronic assistance in the tournament room. Failure to adhere to this policy will result in a penalty up to disqualification for the player and removal from the tournament room for the spectator. Spectators are also prohibited from providing live assistance or coaching. Failure to adhere to this rule will result in a penalty for the player and removal from the rail for the spectator. Non-players on the rail must adhere to the WSOP Terms & Conditions, including no viewing of live streams on an electronic device,â Rule 63b reads (full WSOP Paradise rulebook).
The rule, however, does not specify the penalty a player would receive should they use RTA tools during play. It only states the player would be penalized âup to disqualification,â meaning the tournament director or floor supervisor on duty at the time would likely have sole discretion to determine the severity of the penalty.
If this rule had been in place during the 2024 WSOP Main Event final table, Tamayoâs rail would have been removed from the tournament area. The same can be said about any person in the crowd viewing a feature table livestream.
There are a few other additional new rules for the series in the Bahamas, including banning electronic devices at the table altogether when a tournament is down to three tables. Players are also not permitted to place their cell phones or any electronic devices on the table or table rail during play.
Compliance Updates
Golden Matrix Group Subsidiary Meridianbet Enters Final Phase of Brazil Licensing
Golden Matrix Group, Inc. (Nasdaq: GMGI) is pleased to announce that its subsidiary Meridianbet has received formal notice from Brazil’s Ministry of Finance, through its Secretariat of Prizes and Betting (SPA) division, that it may proceed with the licensing process to operate in the country. This critical milestone affirms Meridianbet’s compliance with Brazil’s regulatory requirements and marks a significant step toward entering one of the worldâs most promising gaming markets.
The notice enables the company to move forward with paying the licensing fee and submitting additional documentation, including proof of certification.
Meridianbet has already allocated the necessary funds to finalize the licensing payment and will now move forward with fulfilling all conditions to ensure its place on the list of licensed operators authorized to serve Brazilian customers beginning January 1, 2025.
âWe are thrilled to be moving forward with an operating license in Brazil and are committed to swiftly meeting the final requirements set forth by the government,â said Brian Goodman, CEO of Golden Matrix Group. âThe Brazilian market represents an extraordinary growth opportunity and a key milestone in our global expansion strategy. We are confident that entering the Brazilian market will lead to2025 being a transformational year for the company as we establish a strong presence in one of three most dynamic global growth markets. This milestone reinforces our strategy of entering regions with high growth potential while continuing to deliver gaming experiences that set new quality standards for the industry.â
Golden Matrix is committed to maintaining the highest standards of compliance and innovation, and intends to strengthen its presence in Brazil over the near and long term while continuing to deliver value to its stakeholders.
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