Acroud Investor Relations Material

Acroud’s core business is based on operating affiliate sites for companies in the iGaming industry. The company has a portfolio of 30+ comparison and news sites, where the main purpose is to assist other companies to generate more traffic and enhance their search engine optimization. In addition, Acroud offers SaaS services to other affiliates, which enables them to reach larger client bases and campaign pools.

Acroud was founded in 2003, with the idea of making it easier to find, compare and choose different digital services. Since then, the company has undergone a couple of mergers and acquisitions, a public listing on the Nasdaq First North Growth Market in June, 2018, and a name change from Net Gaming to Acroud in 2020.

The company now has over 70 employees with offices in Denmark, United Kingdom, Sweden, and is headquartered in Malta. Acroud has grown rapidly during the last years, as it grew sales from approximately 50 million SEK in 2016, to roughly 250 million in 2022, with a mix of organic and acquired growth.

The iGaming industry is expected to grow from roughly $450 billion in 2022 to $765 billion in 2027, corresponding to a compounded annual growth rate (CAGR) of 11%. This rapid growth is in part attributable to the constantly ongoing regulations of the industry, which obstructs the black iGaming market – forcing the market towards regulated and legal services.

For instance, several states in the U.S have now passed legislation that allows certain types of online gambling such as online poker, live casino, slots, and sports betting. More states are expected to open up for iGaming during the coming years which contributes to the industry growth.

However, regulations within iGaming can also be considered a risk for companies such as Acroud since the whole industry is heavily relying on governmental decisions, which could be completely decisive for many companies and the industry as whole. Other notable affiliate companies that faces similar potential challenges, and opportunities, are Better Collective, Raketech, and Catena Media.