Raketech has announced the appointment of Kathryn Baker as Chair of the Board following Ulrik Bengtsson’s departure to Sun International.
Raketech has also nominated Magnus Alebo, founder of Casumba Media, as a new member of the Board of Directors. Both appointments, along with Bengtsson’s official departure from the board, will take effect on July 30, 2025.
Johan Svensson, CEO of Raketech, commented: “On behalf of everyone at Raketech, we are delighted about Kathryn’s proposed appointment as Chair of Raketech and welcoming Magnus to the Board.
“Their leadership experience and deep sector expertise will be a significant asset, and I look forward to working with both of them as we focus on executing our strategy and delivering sustainable growth for our shareholders.”
Proven Leadership
Baker brings 25 years of experience in private equity, venture capital, and serving on the boards of public companies.
In particular, she served as Chair of the Board at Catena Media from 2016 to 2020 and was a board member of Gaming Innovation Group from 2021 to 2023.
Raketech’s nomination committee believes that Baker’s appointment will provide the company with “proven leadership and deep professional expertise,” helping to return the company to growth.
Meanwhile, Magnus Alebo founded the Japan-focused Casumba Media in June 2016 and sold it to Raketech for €2 million ($2.17 million) in 2019. In April 2024, he joined Raketech as Business Development and Interim Head of the Japan division.
He has also previously held senior marketing positions at Mr Green and William Hill.
Raketech divests non-core US tipster assets
Two new members have joined Raketech’s board amid ongoing cost optimization efforts in response to weak financial results.
Last week, Raketech announced the sale of its non-core US tipster and subscription business for €1.25 million ($1.35 million). Earlier, in July 2024, the company sold its US offline advisory operators for €2.1 million ($2.27 million).
Svensson noted that this decision aligns with Raketech’s commitment to financial discipline by focusing on core business areas and divesting non-core assets. The company estimates that these measures will reduce expenses by €150,000 ($161,000) per month.
Last month, the company reported nearly a 50% decline in revenue in Q1 2025, attributing it to a 48% drop in new depositing customers, especially within the SubAffiliation division.
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