Raketech Sells Non-Core U.S. Advisory Business for $2.25M
Ziv Chen • News Editor15+ years betting experience
Updated:
Jul 8, 2024 , 03:24 PM ET
• 4 min read
Online affiliate announces sale of ATS Consultants Inc.
Photo By - USA TODAY Sports
Gambling affiliate Raketech has announced the sale of advisory business ATS Consultants Inc. for $2.25 million. Raketech acquired the company in December 2021, gaining several high-value, lead-generating sports tipster websites.
Over the past year, Raketech successfully boosted traffic by transitioning these sites to a fully digital lead-conversion model focused on multi-capper picks and predictions.
In the second quarter of 2024, the company conducted a comprehensive review of its U.S. operations and assets, revealing the potential for increased U.S. digital subscription revenues and greater affiliation revenues from the tipster sites. As a result, Raketech decided to divest its high-touch U.S. tipster advisory sales arm to focus on its core digital strengths and maximize growth opportunities.
“This strategic sale is an important step in streamlining our operations and focusing on our core strengths. By leveraging our high-quality U.S. 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,” said Johan Svensson, CEO of Raketech.
“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."
The acquisition is expected to close by Aug. 31 at the latest, and will result in a one-off cash impairment charge of roughly €10 million (a bit over US$10.8 million). Raketech will continue to leverage its flagship U.S. assets, sites that draw in approximately 50 million sessions each year.
Zivhas been deep in the iGaming trenches for over 20 years, long before most people could spell "geolocation compliance." With a background in marketing and business development at some of the biggest names in gambling tech, Ziv knows the industry from the inside out. Since joining Covers, he's turned his sharp eye (and sharper keyboard) toward everything happening in the fast-moving world of online gambling. Whether it's new state launches, the latest twists in regulation, or what the big operators and game providers are cooking up next, Ziv breaks it all down with clarity, context, and just the right amount of snark. He covers the business side of betting, from affiliate trends and revenue reports to the tech powering your favorite slots. His motto in writing is “let’s make it make sense without putting you to sleep.”
When he’s not tracking gambling legislation or looking for the next breaking story, Ziv is living and dying with every pitch and play from his beloved Pittsburgh Steelers, Pirates, and Penguins. As a Pitt graduate, it’s a city loyalty forged in heartbreak, but one he wouldn’t trade for anything, except maybe a few more playoff wins.
When away from the keyboard, Ziv loves to hit the road and soak up the energy of casinos. Whether strolling the neon jungle called the Vegas Strip, or wandering into a smoky riverboat casino in the Midwest, Ziv’s in his element. He’s the guy chatting with players, blackjack dealers, and asking pit bosses way too many questions, all in the name of “research,” of course. The casino floor isn’t just his workplace, it’s a weird and wonderful ecosystem of flashing lights, wild characters, and pure sensory overload, and he wouldn’t have it any other way.
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