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Raketech makes double acquisition

| By iGB Editorial Team
RakeTech Group has announced the acquisitions of sports-betting platform BetXpert.com and gambling affiliate company Turtle Gaming.

RakeTech Group has announced the acquisitions of sports-betting platform BetXpert.com and gambling affiliate company Turtle Gaming.

RakeTech, one of Europe’s most prominent igaming affiliates, said the deals are part of a European growth strategy that was formed since it attracted €70m ($75m) of investment earlier this year.

BetXpert.com offers betting advice and live scores from sports across the world, available in both Danish and English.

Turtle Gaming is based in Malta and operates numerous casino and sports-betting media outlets, including leading Finnish websites TurtleBet.com and Nettikasinot.Casino.

Michael Holmberg, RakeTech group chief executive, said: “The acquisitions of BetXpert and Turtle Gaming has advanced our position as a leading provider of gaming affiliate content in Europe.

“BetXpert is a well-known brand who are renowned for quality journalistic content and an objective view of the gambling industry. The Turtle Gaming acquisition provides us with multiple high-quality online gambling media websites, that will further enhance our position in Finland.”

Malta-based RakeTech was launched in 2010 and now operates more than 1,500 affiliate sites across Sweden, Denmark, Finland, Norway, the UK and Spain. In Denmark gross gaming revenue (GGR) from sports betting and online gambling over the past 12 months amounted to DKK3.7 billion (€5 billion/$5.3 billion), up 13% on the amount generated by the end of 2015.

Sweden's market is strong and a February 2017 Mediavision report covering the second half of 2016, found that offshore companies took approximately 70% of Swedes’ total monthly spend on sports betting, even though they only attracted 35% of all sports gamblers.

Tue Lumbye, founder and chief executive of BetXpert, said: “BetXpert has come a very long way since we launched back in 2003. RakeTech’s plans for the future are really impressive and will help strengthen our longstanding position as Denmark’s leading sports-betting media platform.”

Mika Levaniemi, founder and chief executive of Turtle Gaming, said: “I’m very pleased that Turtle Gaming will be joining the RakeTech family, becoming part of a great company and office culture, that I have heard so many good things about.”

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