Raketech enters the US market through acquisition of American Gambler
Raketech, the iGaming performance marketing partner, today delivered on an important milestone on the company’s strategy by announcing its acquisition of the US based organic affiliation marketing assets americangambler.com (“American Gambler”). As a result of the acquisition, Raketech’s revenues within the US are expected to reach approximately 5-10 percent of the group’s total revenues, already in Q4 of this year.
The agreed purchase price for American Gambler amounts to EUR 5m, representing a multiple of approximately 3.9x EBITDA and 3.5x revenues, based on current run rate. Complementing American Gambler is furthermore several local state assets which Raketech – in order to maximize the potential of the fast growing US market and thereby accelerate growth further – intends to increase investments into.
Oskar Mühlbach, CEO of Raketech said: “The acquisition of American Gambler is an important strategic move for us, shifting the US from a strategic target to a strategic market. And by expanding the American Gambler’s service offering to more and more states with the support from our strong core operations team and technology platform, I foresee great opportunities for growth.”
Alexander Kostin, Founder of American Gambler said: “To join forces with a larger professional player with a proven track record is the best choice for American Gambler, an already strong product on the US market. With this partnership American Gambler have secured both financial muscles and a strong infrastructure in order to become one of the leading brands on the US market. I am happy that Raketech identified the potential in American Gambler and gave a helping hand to realize its full potential for years to come.”
The acquisition will as at closing be settled using Raketech’s current cash together with funds received from the divestment of the consumer finance assets, which was announced through a separate press release 6 November 2020. The acquired assets will be an integrated part of Raketech as of today.