The Malta-based iGaming affiliate has strengthened its stateside assets following this latest acquisition. Raketech anticipates that US revenue will now reach up to 20% of the group’s total during the first quarter of 2022.
It also expects this purchase to further enhance its sports segment, which it estimates will now reach up to 35% of the group’s total.
“I am thrilled that we are able to follow up the latest acquisition of P&P Vegas Group with yet another strategically important acquisition in the US,” commented Oskar Mühlbach, Raketech’s CEO.
“This market is of specific interest to us as it is expected to grow substantially within the next years, and I believe that adding Raketech’s commercials and operational ability to the acquired assets is a great way to maximise this opportunity.”
ATS’ pre-game insights, alongside several high-performing assets such as Winnersandwhiners.com, Statsalt.com and Pickpapa.com, sealed Raketech’s decision to acquire the Baltimore-based company.
Of the purchase price, $12m will be settled in cash, with a further $1m delivered after closing, while the remaining $2.5m will be settled via the issuance of new shares. According to Raketech, the $15.5m total sum represents six times ATS’ EBITDA and 2.5 times its revenues for the past 12 months.
The company will continue to operate from its offices in Baltimore, and Chief Exec Jordan Abrams will stay on as CEO.
Mühlbach concluded: “I am also excited to have the talented ATS team on board, and I am looking forward to combining our commercial models and to share technology and know-how between us.”
