Raketech, one of the biggest affiliate marketing firm, has effectively acquired American Gambler and followed to sell all of its consumer finance assets.
The acquisition came as a deal that involves the fee of €5 million that represents a 3.9x multiple of the projected earnings for the entire business withing the rest of 2020.
With the deal, also comes the ownership of remaining local state assets which will be sold in order to ramp up investment.
Raketech noted that the strategic move comes as they estimate a revenue stream of upwards of 5% to at least a 10% from the US for the remainant of the year.
Oskar Mühlbach commented about this, “The acquisition of American Gambler is an important strategic move for us, shifting the US from a strategic target to a strategic market.”
“And by expanding the American Gambler’s service offering to more and more states with the support from our strong core operations team and technology platform, I foresee great opportunities for growth.”
Alexander Kostin, American Gambler’s founder, also added, “With this partnership American Gambler have secured both financial muscles and a strong infrastructure in order to become one of the leading brands on the US market,”
“I am happy that Raketech identified the potential in American Gambler and gave a helping hand to realize its full potential for years to come.”
The acquisition fee will be settled using cash on hand together with funding raised through the sale of Raketech’s consumer finance assets.
