Affiliate Industry
Raketech strengthens its global sports portfolio and footprint in the fast-growing US market
Raketech, the iGaming performance marketing partner, announced a sports focused acquisition, delivering growth on strategically important markets such as the US. With the acquisition of P&P Vegas Group Inc, Raketech significantly strengthens its sports footprint on the fast-growing US market with assets such as the US betting tipster community; Picksandparlays.net. Furthermore, the company acquires all assets from QM Media AB, including the leading cricket betting website; Onlinecricketbetting.net with majority of its traffic from India. The total purchase price amounts to EUR 16m, payable in cash and issuance of new shares as at closing.
As a result of the acquisition, Raketech’s revenues originating from the US are expected to approximately double and the Indian revenues to reach 5-10 percent of the group’s total, already in Q4 of this year. Furthermore, Raketech’s sports vertical is expected to reach approximately 30 percent of the group’s total revenues in Q4 of this year.
The agreed purchase price amounts to EUR 16m on a cash and debt free basis which will be settled in a cash payment of EUR 9m and an issuance of 3,881,968 new Raketech (RAKE) shares amounting to EUR 7m. The number of Raketech shares issued has been determined by the volume-weighted RAKE share price 30 trading days up until 5 July 2021. Further, the issued RAKE shares will be subject to a lock-up of 24 months following completion of the transaction. The purchase price represents a multiple of approximately 5.6x EBITDA and 3.8x revenues for the last twelve months.
Through the acquisition of P&P Vegas Group, headquartered in Ohio, Raketech will be reinforced with a network of sports betting experts and a local team of 6 FTEs, bringing valuable knowledge about the local US sports market to the group. Picksandparlays, with strong presence in Social Media, Web and Video, has provided high quality sports betting content in the US market for over a decade and attracts around half a million unique monthly users. Current revenue streams are primarily relating to user subscriptions, sale of picks (tips), which is something Raketech aims to keep, while at the same time monetizing on Raketech’s existing commercial relationships with all major US sports book operators, with the aim to generate additional growth by adding traditional affiliation as well.
Oskar Mühlbach, CEO of Raketech said: “With these acquisitions we are delivering on several strategically important goals. Significant sports revenues, revenues from high growth markets, boots on the ground in the US and asset diversification and new revenue streams. Furthermore, by adding such a strong brand as PicksandParlays, Raketech will be able to add significant value to the US business through the implementation of the affiliate marketing sales in all licensed states. And with the talented and committed team that comes with the acquisition, I am very much looking forward to having them join forces with our central operations team to accelerate growth even further.”
The popularity of Cricket is growing globally with India being one of the most important markets. QM Media AB holds the position as the largest cricket sports betting affiliate with an impressive track record of profitable growth. The brand; Onlinecricketbetting.net reach over a million unique users during major events such as IPL. With the acquisition of Onlinecricketbetting.net, Raketech will not only gain a significant position within affiliation of cricket betting, but also take a leading position in the Indian market. In addition to the cricket assets, a portfolio of sports assets targeting the Nordics is part of the acquisition.
Marcus Egstam, CEO of QM Media said: “By partnering with Raketech we gain access to their well-established infrastructure that will help leverage our strong brands and market positions. We are enthusiastic to become shareholders in Raketech and to be a part of the exciting future we have planned.”
The acquisition will, as at closing as per 15 September 2021, be settled using Raketech’s current cash together with funding from Raketech’s credit facility. The employees of P&P Vegas Group Inc will become integrated part of Raketech as of 15 September 2021.
Affiliate Industry
BALLY’S ENTERS INTO MERGER AGREEMENT WITH AFFILIATES OF STANDARD GENERAL L.P.
Bally’s Corporation announced that it has entered into a definitive merger agreement (the “Merger”) pursuant to which Standard General L.P. (“Standard General”), the Company’s largest common stockholder, will acquire the Company’s outstanding shares for $18.25 per Bally’s share (the “Cash Consideration”). The price represents a 71% premium over the Company’s 30-day volume weighted average price per share as of March 8, 2024, the last trading day before the public disclosure of Standard General’s initial cash acquisition proposal of $15.00 per share. In lieu of receiving the Cash Consideration, Bally’s stockholders may elect to retain all or a portion of their Bally’s stock by means of a rollover election. Bally’s stockholders electing to retain all or a portion of their Bally’s investment will continue as stockholders of the Combined Company (as defined below). The transaction values Bally’s at approximately $4.6 billion in enterprise value. The Combined Company will remain a publicly traded registrant under the Securities Act of 1934.
Pursuant to the Merger, Bally’s will combine with The Queen Casino & Entertainment Inc. (“QC&E”), a regional casino operator majority-owned by funds managed by Standard General (together, the “Combined Company”). QC&E is a regional gaming, hospitality and entertainment company that currently owns and operates four casinos across three states, including DraftKings at Casino Queen in East St. Louis, IL, the Queen Marquette in Marquette, IA, and the Queen Baton Rouge and the Belle of Baton Rouge in Baton Rouge, LA. QC&E is in the process of executing on transformational redevelopment projects at two of its four properties which are expected to be completed in 2025 and generate meaningful organic growth. The combination will expand the Company’s Casino & Resorts segment to 19 gaming, entertainment and hospitality facilities across 11 U.S. states and enhance the Company’s development pipeline with several exciting projects.
Jaymin Patel, Chairman of the Special Committee, said, “After a detailed consideration by the Special Committee, with the assistance of our outside financial and legal advisors, it was determined that the Cash Consideration from Standard General delivers a meaningful and immediate value to stockholders. We look forward to working with the team at Standard General and QC&E as we move through the process to complete the merger.”
Robeson Reeves, Bally’s Chief Executive Officer, said, “Our team is well positioned to continue to execute on our initiatives to drive growth across all our segments including in our International Interactive business, North America Interactive and our Casinos & Resorts (“C&R”) segments, while proceeding with our development pipeline, including construction of our permanent casino resort in Chicago, for which we recently announced a comprehensive financing plan. The addition of four complementary properties through this merger to our existing 15 domestic casino properties will add further geographic and market diversity to our portfolio. With QC&E’s development pipeline recently completed or already well underway, we see a path toward additional revenue and EBITDAR growth and value accretion as those projects are completed in 2025. We look forward to bringing our ultimate vision to bear and to working closely with the Standard General team to execute on that vision.”
Soo Kim, Managing Partner of Standard General, said, “The Transaction provides Bally’s stockholders with a significant cash premium along with certainty of value for their investment or, if they elect to retain their shares, the opportunity to participate in the longer-term growth prospects of our expanded portfolio and significant development pipeline. The addition of the complementary QC&E assets builds upon the Company’s attractive growth profile. We look forward to working with the Board of Directors and the Company’s senior management team as they continue to execute on their business plan.”
In connection with the transaction, in addition to Standard General, Sinclair Broadcast Group, Inc. (“Sinclair”), and Noel Hayden have committed to support the Merger and to make rollover elections. As a result, at least 47% of Bally’s outstanding fully-diluted equity interests will be rolled over into the Combined Company.
A special committee of independent and disinterested directors (the “Special Committee”) of Bally’s Board of Directors, which has been advised by its own independent financial and legal advisors in evaluating the Merger and the Cash Consideration, determined that the Merger is in the best interest of Bally’s and its stockholders (aside from Standard General, Sinclair and Noel Hayden) and unanimously recommended that the Company’s Board of Directors approve the Merger. Acting upon the recommendation of the Special Committee, Bally’s Board of Directors approved the Merger and recommends that stockholders approve the Merger. The factors considered by the Special Committee in arriving at its unanimous decision will be outlined in public proxy filings to be made by Bally’s. The Bally’s Special Committee and Board of Directors are making recommendations with respect to the Cash Consideration and are not making recommendations with respect to the rollover election.
Affiliate Industry
MightyTips and Marathonbet collaborate on a new partnership deal to conquer the Brazilian market
Affiliate website MightyTips and betting platform Marathonbet are entering into a new partnership that covers the Brazilian market to dominate the booming iGaming scene.
This strategic partnership will help Marathonbet to skyrocket its presence in the giant South American country with a population of over 215 million, boosting acquisition numbers in an increasingly competitive market.
A recent report by SOFTSWISS estimated that Brazilians participating in sports betting-related activity and online casinos in 2022 exceeded 46%.
The report also suggested the sports betting market in Brazil is significantly larger than that of online casinos. It is with these figures in mind that Marathonbet will seek to capitalise on.
Launched in 1997, Marathonbet has a rock-solid reputation and primarily operates under a licence issued by the Government of Curaçao. It was one of the first sportsbooks to launch an online betting service back in 2002.
Its brand is associated with some of the biggest names in football thanks to a deep-rooted commitment to the sport. In the past ten years, it has sponsored the likes of Real Madrid, Manchester United, Sevilla, and Lazio.
Eugene Ravdin, MightyTips Communications and Marketing Manager said: “Marathonbet is one of the biggest names in betting. Its long and storied evolution from the beginning of iGaming is incredible and we can’t wait to work alongside them.”
A Marathonbet spokesperson said: “We are pleased to announce the beginning of a long and fruitful cooperation with MightyTips. We are sure this will bring us and the players only positive emotions, and we wish all the players good luck and many victories.”
Affiliate Industry
How Casino.org is helping players go beyond the hype
Gaming Americas takes a closer look at how the popular online casino affiliate is educating players and putting the power in their hands to find the best online casinos
Players are always looking for new casinos to play at and bonuses to claim. But in a market where there are literally hundreds of brands to explore, finding reputable sites that offer the experiences they are seeking is easier said than done.
While casinos spend big on branding and marketing, a lot of players turn to affiliate sites to get the lowdown on each brand so that they can decide if it’s the right casino for them or not. These sites also act as an additional layer of trust as players know they have already been vetted by the affiliate.
One of the most established and trusted affiliates is Casino.org which has been helping players to go beyond the hype being generated by casino brands and educate players in terms of what they need to consider before deciding to sign up and play at a site for almost 20 years.
The site has earned a reputation among players for the quality of its casino reviews. Each brand listed on the site is put through an extensive 25-step process to determine the score it receives including security and trust, games, bonuses, banking, mobile, localisation and customer support.
This is to ensure that all aspects of the player journey and experience are taken into account and so that the casino receives a fair score for what it has to offer.
Casino.org’s team of reviewers are always objective when putting a casino through its paces and is not afraid to highlight any areas where it has been marked down. This is because the site believes that transparency and honesty is key to fostering player trust.
Alexander Korsager, General Manager at Casino.org, says: “There remains a lack of trust between players and the online casinos they sign up to and play at, and that’s why we have developed such a comprehensive review process.
“We want players to be able to have all the information they need about a casino so they can decide whether it’s right for them or not. This means being honest about what is good and bad about each brand. Of course, we only list the top brands in each market.”
Beyond its casino reviews, Casino.org has built a comprehensive “learning hub” packed with articles, features, interviews and guides so that players can further educate themselves about playing at online casinos.
Topics covered include how to play casino games, how to gamble responsibly, how live dealer works and a vast FAQ section that answers some of the most common questions players have.
It’s also rolled out a dedicated video series that talks players through how to play the game of roulette including how to get started, six betting strategies and the difference between European and American roulette.
“Our learning hub has proved to be incredibly popular with players,” says Korsager. “It arms them with the knowledge and understanding they need to make the most of the time they have at an online casino, especially when it comes to playing games like blackjack and roulette.
“Player education is an area where we are looking to stand out and our learning hub is a very effective way of going about this.”
All of the content written and published by Casino.org – including its famous casino reviews – is produced by gambling experts. The team is made up of online casino players with deep experience and an unrivalled understanding of what makes for a good online casino.
This is a major factor in the affiliate’s rise to the top of the industry and why it is so deeply trusted by players in more than 100 countries across the world.
“Casino.org is on the side of the player and our team of experts ensure that we produce content that is detailed, accurate and correct, says Korsager. “Players come to us for our honest opinions and insights, and we can only deliver this because of the truly incredible team that we have in place.
“We have been supporting players on their mission to find new online casinos and bonuses for almost 20 years now and plan to be doing it for the next two decades and beyond.”
-
Interviews7 days ago
Behind Rubystone’s Rise: How PeakPlay is Set to Shake Up the Social Gaming Market
-
Canada3 days ago
Great Canadian Entertainment and Petroglyph Development Group Announce Agreement for Purchase and Sale of Elements Casino Victoria
-
Latest News3 days ago
Fanatics Sportsbook & Washington Spirit Launch Groundbreaking Partnership For Market Access in Washington, D.C.
-
Latest News4 days ago
Kambi Group plc signs multi-year online sportsbook partnership with fast-growing Brazilian operator KTO Group
-
Canada5 days ago
British Columbia Lottery Corporation and Future Anthem partner to establish Artificial Intelligence and Data Innovation Hub in Vancouver
-
Latest News5 days ago
GR8 Tech Expands in LatAm with Jugabet Partnership
-
Latest News5 days ago
Sleeper joins forces with Birches Health for Responsible Gaming Education Resources and Care
-
Latest News5 days ago
SCCG Announces the Launch of SCCG NextGen: Redefining Possibilities in Gaming with Brand Influence and IP