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
Latest News
Plaza Hotel & Casino again celebrates New Yearâs Eve with live fireworks show
Located in the heart of downtown Las Vegas, the Plaza Hotel & Casino will again celebrate New Year’s Eve with a full evening of celebrations in classic Las Vegas style, complete with a delicious dinner at Oscar’s Steakhouse, a special performance of the new and ever-changing variety show Mavericks, complimentary champagne toasts, and downtown’s only live fireworks show at midnight on Tuesday, Dec. 31.
The Plaza’s annual New Year’s Eve fireworks display is a spectacular show for people downtown and visible for miles.
The Plaza’s Carousel Bar located under the property’s iconic dome will be at the heart of the evening’s festivities. Carousel Bar will offer an unmatched location to celebrate the new year with handcrafted cocktails, and just steps away from the best vantage point downtown to watch the fireworks, the portion of Main Street in front of the Plaza that will be closed to vehicles during the show.
As part of its NYE Room Package, the Plaza will hold an all-ages viewing party of the fireworks for hotel guests only on its rooftop pool deck. The room package also includes 25% off room rates (two-night minimum stay) and complimentary early check-in and late check-out (based on availability). The NYE Room Package is available to book online.
Before the fireworks, the award-winning Oscar’s Steakhouse will offer a holiday a la carte menu with exclusive New Year’s Eve specials. Restaurant diners will also enjoy a complimentary champagne toast. at midnight while watching the fireworks show from under the dining room’s glass dome. Reservations are recommended and can be made online or by calling 702-387-7227.
Entertaining audiences with its fabulous blend of comedy, circus, burlesque and variety, Mavericks will offer an affordable 9:30 p.m. performance on New Year’s Eve without any holiday price hikes, proving that thrilling entertainment in Las Vegas doesn’t have to break the bank.
Home to downtown Las Vegas’ only bingo room, the Plaza Hotel & Casino will hold Las Vegas’ first-ever $160,000 New Year’s Eve Super Bingo event, Tuesday, Dec. 31 through Wednesday, Jan. 1. If booked by Dec. 16, participants can play and enjoy a 5-night stay from Sunday, Dec. 29 through Thursday, Jan. 2 for just $400, with no resort fees (after Dec. 16 the stay and play registration price rises to $600).
Super Bingo players also receive as a bonus $20 in free slot play.
Revelers can end the night with an after party at The Sand Dollar Downtown, which will welcome The Moonshiners playing live Great Gatsby/Prohibition Pop from 10:30 p.m. to 1:30 a.m. There is no cover for the live performance, which is open to guests 21 years or older.
Canada
Aviatrix enters North America for first time with Ontario launch
Award-winning crash game Aviatrix is now live in North America for the very first time, after securing a licence and certification in the Canadian province of Ontario.
Aviatrix has been granted a Gaming-Related Supplier (B2B) Licence by the Alcohol and Gaming Commission of Ontario (AGCO), meaning Ontario-licensed operators can now offer the game.
It’s the first time players in North America will be able to enjoy Aviatrix, marking another major milestone in the remarkable two-year journey of the game.
Aviatrix was helped through the AGCO licensing and certification process by BetComply.
Anastasia Rimskaya, Chief Account Officer at Aviatrix, said: âWe committed to expanding Aviatrixâs regulated footprint, and this is another huge step. Weâre already present in many markets across Europe, so it is fantastic to add a province in Canada to the list. We are sure that players in Ontario are going to find Aviatrix every bit as enjoyable as their counterparts elsewhere.â
Aviatrix has added multiple new regulated markets over the past few weeks, including Italy, Sweden and the Netherlands.
It was also recently named âGame of the Yearâ at the EGR Operator Awards 2024.
Arizona
Arizona Department of Gaming Cease-and-Desist: Bovada Online Gambling
The Arizona Department of Gaming (“ADG”) has taken action against an overseas gaming company in Curaçao that is allegedly operating illegal online gaming sites, Bovada.com and Bovada.lv (Bovada), accessible to Arizona residents. Following an investigation into the matter, the ADG sent a cease-and-desist letter to Harp Media B.V., which operates Bovada, on November 8, 2024.
The operation of Bovada in Arizona is alleged to be a felony criminal enterprise and Bovada has been directed to desist from any future illegal gambling operations or activities of any type in Arizona. Due to the unregulated and illegal online gaming offerings on Bovada, Harp Media B.V. is claimed to be in violation of Arizona gaming laws, including:
- Promotion of Gambling (Felony) — Ariz. Rev. Stat. Ann. § 13-3303.
- Illegal Control of an Enterprise (Felony) — Ariz. Rev. Stat. Ann. § 13-2312.
- Money Laundering (Felony) — Ariz. Rev. Stat. Ann. § 13-2317.
Harp Media B.V. has been directed to immediately cease all online (or other) gambling operations and activities in Arizona, and take the necessary steps to immediately prevent and exclude Arizona residents from gambling on their websites.
“We are actively monitoring the evolving landscape of online gaming and taking proactive steps like this helps us protect Arizonaâs communities and economy from illegal activities,â said Jackie Johnson, Director of the ADG. âOur enforcement team is committed to preventing unauthorized operations from establishing a foothold here. Arizona will not be a safe haven for unlicensed or unlawful gaming, nor will we allow unlawful entities to compromise the integrity of gaming within our state.”
In light of these developments, the Arizona Department of Gaming urges residents to exercise caution with online gaming activities. Only legal, regulated operations provide important consumer protections not found in the illegal market, helping ensure a safer experience for participants. Certain online event wagering is legal in Arizona. A list of all licensed and regulated event wagering operators legally taking bets in Arizona can be found on the Departmentâs website at gaming.az.gov.
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