Information about the COVID-19 impact on Raketech
Raketech, the iGaming performance marketing partner, monitors the development of the COVID-19 virus and its potential effects on its industry closely. So far, the strategies as how to handle the outbreak have been different from country to country which makes the situation somewhat hard to predict. Raketech do not anticipate substantial negative effects on the iGaming industry in the long term, even though sports betting revenues most likely will be affected negatively during 2020 due to the many cancelled sports events. Q1 2020 is so far delivering revenues in line with expectations with January and February amounting to approximately EUR 4.0m in total. During March, Raketech expect to deliver revenues in line with the two previous months, excluding revenues from the newly acquired Lead Republik Ltd.
Worth mentioning is at the same time the fact that when access to most physical is limited and when people in general get more time in isolation, gambling revenues are to some extent directed towards digital gambling and in particular casino. Raketech has approximately 70% revenues from Casino, 25% from Sports and 5% from Other. Exactly how the combination of the reduced sports betting revenues for the industry and the increased interest for digital casino will affect Raketech during 2020 is at this stage too early to predict with certainty.
Oskar Mühlbach, CEO of Raketech said: “Currently we work hard to help our customers, the operators to reallocate their marketing investments from sports to our main product vertical Casino where we continue to see good demand. The situation furthermore confirms that our strategy to increase our global footprint, product offering and vertical spread is the way forward in terms of securing a healthy and balanced business risk set up.”
Raketech has since a few weeks back allowed its employees to work from home, banned all business travels and required staff that has been traveling in private matters to self-quarantine for a minimum of 14 days. From an internal perspective, Raketech has so far been able to maintain the operational efficiently thanks to these actions and its modern tech infrastructure and distributed work methodology that allows for this type of set up.
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This information is such that Raketech Group Holding P.L.C. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:30 CET on 27 March 2020.
About Raketech Group
Raketech is a leading online affiliate and content marketing company, with expertise in delivering comparison services for sports and gaming, online guides, communities and social media products. Raketech guides sports and gaming enthusiasts to the best possible services, while also delivering high-quality traffic and leads to its partners. Raketech grows both organically and via acquisitions and operates its business in accordance with a clear framework for responsible affiliate marketing services. The company’s shares are listed in Nasdaq First North Premier Growth Market with ticker RAKE. Erik Penser Bank AB is the company’s Certified Adviser: +46 8 4638300 / firstname.lastname@example.org. For more information, visit www.raketech.com.