Raketech published its financial results for the final quarter of 2022, highlighting its performance. The company experienced good organic growth and recorded record-breaking revenues.

Revenues for the period sat at $16.7 million (converted to USD) thanks to the performance of Raketech’s core portfolio of affiliation marketing. Revenues from the United States increased to $2.45 million, while overall sports revenues totaled $4.5 million, or 26.7% of the company’s total revenues for the period.

Organic growth amounted to 23.1%, driven by an increase in affiliation and sub-affiliation revenues. Adjusted EBITDA, meanwhile, amounted to $6.7 million with the adjusted EBITDA margin being somewhat lower than last year at 40.3%.

Raketech’s board proposed a dividend of EUR 0.094 per share to be distributed to shareholders.

Following the publication of its Q4 results, Raketech also released details about its performance in January 2023. During the first month of the year, the company recorded revenues of $5.3 million. The company also highlighted the addendum it recently entered for the acquisition of Casumba Media. The payment is payable in installments of up to $16 million throughout 2024. Any remaining amount can be deferred up until September 16, 2026, Raketech informed readers.

Raketech Hopes to Maintain Its Momentum

Following the publishing of its 2022 results, Raketech also posted its 2023 guidance. The company’s board has decided to replace the targets with near-term guidance for revenues, EBITDA and free cash flow.

The company expects revenues of around $64-69 million in 2023, driven by strategic growth initiatives. Raketech also expects an EBITDA of around $21-$25.5, as well as operational costs of $2.1 million.

The company also noted that it expects free cash flow to increase substantially to around $12-14 million by the end of 2023.

Mühlbach Happy with the Results

Oskar Mühlbach, Raketech’s chief executive officer, commented on the results, saying that he is very satisfied with the company’s performance in Q4 2022.

Our core affiliation assets are performing according to plan or better, including those handed over to us after earn-out periods. With our diversified portfolio within Affiliation marketing, Sub-affiliation and Betting Tips & Subscriptions, we believe we are well-positioned to capture the many opportunities presented by the rapidly growing global digital gambling market.

Oskar Mühlbach, CEO, Raketech

Mühlbach added that he was very pleased to see the company’s US revenues more than double year-on-year.

In 2023, Raketech will focus on its flagship products, Mühlbach said. He noted that fewer but better consumer products will provide his company with the advantage it needs.

Better Collective has published its interim report for Q4 2022. In the period between October 1 and December 31, the company’s metrics rose across the board, contributing to the record-breaking results it already expected.

In Q4 2022, the company’s revenue reached around $91.6 million (converted to USD), which represents a growth of 63% year-on-year. Recurring revenue almost doubled, sitting at almost $44 million at the end of the quarter. Revenue share income went up by 81% year-on-year to $32.1 million.

EBITDA before special items was $37.4 million representing a stellar growth of 115% year-on-year and a margin of 41%.

Better Collective also recorded its highest number of new depositing customers yet at 580,000. This translates into a growth of 117%, 78% of which was sent on revenue share contracts.

Better Collective concluded that January was also a very successful month for the company, during which it managed to rake in revenue of $39.4 million. This was favorably impacted by Better Collective’s launch in Ohio.

In Q4, Better Collective initiated a share buyback program for up to 5 million Euros, seeking to cover future payments related to completed acquisitions and LTI programs. It managed to buy 394,645 of its shares back and is planning another buyback program.

2022 Was a Great Year for the Company

Overall, 2022 was a very successful period for Better Collective, which recorded annual revenue of $286.5 million, a figure that is 52% higher than the one recorded in 2021. The company also reported an EBITDA before special items of $90.5 million.

Better Collective’s new depositing customers count skyrocketed to 1,680,000, representing a growth of 96%. In addition, earnings per share increased by over 150% year-on-year.

Better Collective targeted organic revenue growth of 20-30%. In reality, the company surpassed this number, recording organic revenue growth of 34% instead. The company also met its EBITDA and net debt to EBITDA targets.

Better Collective expects revenue of $308-319 million for 2023. Its EBITDA before special items target is between $95.8 and $106.4 million. Finally, the company hopes to reduce its net debt to EBITDA from <3 to <2.

In 2023, the company will also make additional investments in the LATAM region and other emerging markets. Better Collective will also continue to consolidate its presence in the United States.

CEO Søgaard Applauded His Team’s Efforts

The company’s founder and chief executive officer, Jesper Søgaard, addressed his company’s performance. He praised the Q4 2022 results, saying that the quarter was a strong period for diversification and cementing synergies.

Søgaard noted that the year saw Better Collective continue its strife to become the “Leading Digital Sports Media Group.” The group delivered strongly on revenues and operating earnings and is poised to do just as well if not better in 2023.

Søgaard pointed out that the FIFA World Cup greatly benefited the company, which began preparing for the event many months ahead.

The CEO noted that he is very optimistic about 2023.

After the overwhelmingly good start to January, I look forward even more to 2023. January was boosted by the Ohio launch – giving us our best month ever – with revenues of >37 mEUR – implying growth of >40%, despite tough comparisons to the New York launch in January 2022, where we doubled the revenue from 2021.

Jesper Søgaard, CEO, Better Collective

Søgaard concluded that he would like to round off 2022 by thanking all his dedicated colleagues and partners for their hard work.

The news comes after the business-to-solution provider of premium iGaming products announced that it would add NOWPayments to its roster of supported crypto payment methods earlier in the week. The newly inked deal with V8Poker, the popular content provider on the Asian continent, will help NuxGame continue to provide top-grade content to its clients. 

NuxGame to Harness V8Poker’s Innovative Solutions

Commenting on the new decision, NuxGame’s chief executive officer Daniel Heywood expressed their excitement for being able to access the Asian gaming market which he described as a “dynamic and diverse market.” He also spoke about the rising growth opportunities that he called “boundless” in the context of the new partnership with their highly experienced and innovative partner. 

The latter specializes in offering state-of-the-art, localized card and table titles for customers on the lookout for an enhanced gaming experience and adding more variety.

According to the landmark content agreement, the 2018-launched iGaming platform provider will take advantage of V8Poker’s unique game formats and top game picture quality, alongside their application programming interface (API) that is distributed without limits to generate visual impacts never seen before. 

Since V8Poker’s titles are customized to cater to the needs of a wide plethora of users at the same time, NuxGame along with its partners in Asia will benefit from a lot of scaling opportunities for their operations. This is essential in the constantly growing Asian markets where offering eye-catching content that can stick its head above the crowd and draw all the attention is mandatory to differentiate oneself. 

Operators here are, therefore, busy finding new ways to stimulate players’ interests and convince them to return to their platforms and access even more content. This in itself has represented one of the main reasons why NuxGame decided to ink the new content deal with V8Poker. 

V8Poker’s Intelligently Engineered Games, Part of the Deal  

As a result of the new deal, the company that offers sport engine, retail, legal services, turnkey, and website API solutions is hoping to offer its partners from Asia the most entertaining games possible.

V8Poker’s generous list of games features excellent designs and spectacular mechanics created with the help of intelligent engineering. These games are expected to offer NuxGame’s Asia-oriented partners customized gaming experiences suitable for Asian players’ expectations. Among V8Poker’s most sought-after games that are likely to turn into crowd favorites we can mention Sic Bo, Blackjack, Texas Hold’em Poker, and Fan-Tan.

Niagara Falls Review reported that the OLG Stage at Fallsview Casino opened its doors to the media for a tour of the new theatre in order to showcase the venue and its unique features.

All 5,000 Seats Are No More Than 150 Feet Away from the Stage

The 5,000-seat theatre was built on top of the Hilton Hotel parking garage and required 685,000 work hours to complete. It cost CAD 130 million ($96 million) and was built in the period from 2017 to 2020.
The new theatre was delayed by the pandemic, which either canceled or postponed several shows. The delay gave designers the chance to fine-tune the venue to optimize the acoustics. OLG spokesman Tony Bitonti explained that there were operational requirements that needed to be addressed and that fine-tuning was necessary, as is the case with all facilities of this size around the world.

The OLG Stage boasts four levels of seating, and no seat is more than 150 feet away from the stage. The facility further features cutting-edge sound and lighting technologies. Two glass-enclosed walkways connect the venue to Fallsview Casino.

To test the sound system, Toronto band The Beaches played an eight-song set for about 100 media members and social media influencers that was followed by a Q&A session. The media were impressed with the 6,400-foot stage and audio system.

The Beaches also praised the sound quality on stage, with drummer Eliza Enman-McDaniel commenting that it was the most notable thing that made an impression on her. Lead singer Jordan Miller said that it felt like being back in high school doing a matinee, while guitarist Kylie Miller suggested that The Beaches were the first all-girl band to play at the new venue. Miller further added she was blown away by the facility, saying that it was new but sounded amazing.

Niagara Casinos President Expects a Visitation Boost Prompted by the New Theatre

According to Niagara Casinos’ President Richard Taylor, the new facility will boost tourism in Niagara, prolong hotel stays, improve customer satisfaction, and attract more visitors to Fallsview Casino.

Senior property asset manager Rob Divencha noted that the new theatre has received positive feedback from the handful of artists who have already played there. The first production to use the new venue was “Canada’s Got Talent,” which rented the OLG Stage for a week in October 2022 to film the show. Since then, the stage has seen concerts by The Lumineers, Don Felder, LIVE, and a few others.

Upcoming shows at the new theatre include Bret Michaels, Rod Stewart, and a grand opening night with Billy Joel. The Fallsview Casino Resort is also home to the 1,500-seat Avalon Theatre, which will remain open despite the new venue opening.

In its latest trading update released Tuesday, the company revealed that its net revenues for the period between January and December 2022 hit $10.8 billion. When compared to the $9.6 billion reported for the corresponding period in 2021, this result marked a strong increase.

Judging by the recent report, Caesars’ net loss in 2022 was $899 million. This result marked a decrease when compared to the $1.0 billion in net loss for the same period the prior year. Same-store adjusted EBITDA in 2022 hit $3.2 billion, marking an increase when compared to the $3.0 billion reported in 2021. Caesars revealed that excluding its Digital segment, same-store adjusted EBITDA in 2022 was $3.9 billion, versus $3.5 billion for the same period the prior year.

A breakdown provided by the company revealed that its Digital segment, Las Vegas and regional operations helped drive revenue growth in 2022. Caesars Las Vegas’ operations revenue hit $4.3 billion in 2022, marking an increase when compared to the $3.4 billion result from the previous year.

Similarly, regional revenue increased from $5.5 billion in 2021 to $5.7 billion in 2022. Caesars Digital also reported strong growth with the revenue from this segment increasing to $548 million. The figure marked a significant growth considering the 2021 result which was $337 million.

The Company Enjoyed a Stellar Fourth Quarter

Besides its full year results, Caesars released data regarding its fourth quarter performance. In Q4, 2022, the company reported net revenues of $2.8 billion, marking an increase when compared to the $2.6 billion result for the corresponding period in 2021. The new report reveals that the net loss for the fourth quarter was $148 million, compared to a net loss of $434 million for Q4 in 2021.

“Our fourth quarter delivered another set of strong operating results as both our Las Vegas and Regional segments each set a new fourth quarter record for Adjusted EBITDA.“

Tom Reeg, CEO at Caesars Entertainment

Caesars’ CEO, Tom Reeg, acknowledged that the company enjoyed a successful fourth quarter and pointed out that the results were driven by its regional and Las Vegas operations. At the same time, he explained that Q4 marked a new record for adjusted EBITDA that hit $957 million.

Speaking about Caesars Sportsbook, Reeg said that it has “delivered significantly improved operating results during the fourth quarter which sets the foundation for a strong 2023.” Finally, the CEO predicted a successful year ahead, considering that consumer demand is strong within all operating segments of the company.