Raketech Plc has struck a €12m deal to sell its Casumba asset, as the Stockholm-listed igaming media publisher refocuses its strategy on the growth of its core media network and new tech services.
Agreed yesterday, the sale of Casumba comes with no upfront payment. Deal terms cite that an ‘unnamed buyer’ will pay in monthly instalments until December 2029 at an 8% interest rate to acquire Casumba and related assets outright. At closing, the deferred consideration was valued at around €7m, with €5m of value reflecting credit risk and the extended schedule.
Casumba, which generated annualised revenues of €4m and EBITDA of €2.9m, is being divested as Raketech reorients toward regulated, sustainable growth. The company warned it will book a non-cash €10m loss in Q3 due to the gap between Casumba’s book value and the fair value of the consideration, though stressed there will be no cash flow impact.
Q2 trading saw Raketech generate revenues of €7.8m a sharp decline from €17m in the same period last year. Leadership blamed weaker performance in its paid publisher segment, in which it highlighted “ongoing challenges for Casumba in Japan”, and the earlier sale of its US advisory business.
Casumba is a Malta-registered business running affiliate sites in Japan, which Raketech acquired in 2020 for €2m upfront to gain exposure to the Japanese iGaming market, long regarded as a grey area for online betting services.
Despite the pressures, management pointed to signs of momentum in its core business. The group’s Affiliation Marketing portfolio ‘excluding Casumba’ — grew 5% quarter-on-quarter, with EBITDA at €2.0m and Adjusted EBITDA at €2.1m.
Chief executive Johan Svensson framed the Casumba sale as a strategic pivot. “This sale marks another step in refining our portfolio and concentrating on our core goal of creating the top commercial platform for iGaming affiliation. By divesting Casumba, we eliminate regulatory exposure and unlock resources for growth opportunities,” he said.
Raketech will book a non-cash loss of roughly €10m in Q3 2025, which management stressed is a one-off accounting hit with no bearing on day-to-day operations.
Closing the sale, Chief executive Johan Svensson said “the deal reflects our dedication to sustainable shareholder value and financial discipline.”
At the close of 2025, Raketech will move to accelerate the development of its in-house AffiliationCloud platform, which leadership calls central to its long-term strategy to diversify core services beyond igaming media. The shift in strategy comes after a bruising quarter marked by structural changes in Google’s ad ecosystem impacting all igaming media publishers.
Even so, its platform-first approach delivered growth in the core affiliation segment, underlining management’s argument that the pivot will set up a leaner, more resilient growth story.
