Gambling affiliate Raketech has nominated former Catena Media chair Kathryn Baker to be the new chair of its board.
As well as previously being chair at Catena, Baker is also a former board member of Gaming Innovation Group (GiG).
If approved, she will take over from outgoing chair Ulrik Bengtsson, who is stepping down at the end of next month. In addition to nominating Baker for the position, the company has also namedMagnus Alebo as a new member of its board.
Alebo is the former head of marketing at Betsson Group and has also served in directorial roles at UK sports betting site William Hill and Hero Gaming. He will take up his position at the start of August.
Experienced board members to steady ship
“On behalf of everyone at Raketech, we are delighted about Kathryn’s proposed appointment as Chair of Raketech and welcoming Magnus to the Board,” said Raketech CEO Johan Svensson. “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.”
Baker has served on over 20 companies’ boards, including Norges Bank, Akastor ASA, Sevan Marine ASA, and Agasti Holding ASA.
The company is hoping her financial experience can lead to an upturn in fortunes after reporting a 48% drop in revenue for the first quarter this year. The business announced it would be moving away from its US tipping service and favoring partnerships in other areas.
Commenting on the Q1 results, Svensson stated,“Q1 2025 marked a period of strategic consolidation and operational focus for Raketech.
“Despite a year-on-year revenue decrease we have made good progress in aligning the business around our platform-first model and long-term growth priorities.
“With AffiliationCloud now at the core of how we operate, and a strengthened financial position following key decisions, we are confident in our ability to scale efficiently and deliver sustainable value.”
The company has been introducing cost-saving measures and has reduced the number of employees and contractors by 41% since last year. Operating expenses were down 34% from Q1 last year.
Other gambling affiliates struggling this year
Catena Media, where Kathryn Baker served as chair from 2016 to 2020, also reported a difficult Q1 with earnings dropping by 40% compared to the first quarter of 2024.
The company is focusing on sweepstakes casinos as an area to recover the business. However, more and more states are clamping down on the platforms.
Montana and Connecticut have successfully passed bans on the platforms, while New York only needs Governor Kathy Huchal’s signature to enact its own ban.
Q2 results should reveal whether the companies are moving back in the right direction after recent struggles due to increased regulations and misguided investments.
Adam is an experienced writer with years of experience in the gambling industry. He has worked as a content writer and editor for five years on sites such as Oddschecker, CoinTelegraph and Gambling Industry News, bringing excellent knowledge of the world of sports betting and online gambling. Adam focuses on emerging stories in the ever changing landscape of betting in the US. Read the latest on prediction markets, changing legislation, and sweepstakes.
