Investment case

Acroud operates in a market that has historically shown long-term, stable growth. The outlook for iGaming appears positive and is expected to continue to show good, sustainable growth for many years to come. In addition Acroud has also entered the market for SaaS and BaaS solutions which also appears to have a bright future.

Strong market position in growth sector
Acroud has a strong position within iGaming Affiliation and is one of the leading companies in the sector. According to H2GC, the industry is expected to show global annual growth of 10 percent in the period 2021-2026. We have established long-term and strong customer relationships during more than 15 years in the industry, which gives us a head start against many of our competitors and the market as a whole.

Unique position on the market with SaaS and BaaS solutions
Acroud are operating two segments iGaming Affiliation and …As a Service. We are unique on the market being able to offer SaaS (“Software as a Service”) and BaaS (“Business as a Service”) solutions via our…As a Service segment. The SaaS and BaaS business is fast growing and we are moving in a high pace developing this part of the business, which has significantly higher entry barriers and high shareholder value.

Management team and Board with long experience
Both Acroud’s Management team and its Board have broad experience from developing iGaming Affiliation and high-growth companies. During 2020 a strong team has been formed. The CEO Robert Andersson has a solid track record from the industry and from developing growth companies in a high pace generating shareholder value. Through the recent acquisitions and recruitments some strong and experienced individuals in the industry have joined the ride.

Scalable business model
We have a scalable business model, which enables us to quickly and easily expand existing or new brands to new geographic markets or expand into new verticals. We have a unique own developed proprietary technical platform (“CAS”), allowing us to quickly develop our products and our offering to end consumers. This enables us to further scale our operations and achieve high margins and strong cash flow.

Operations excellence
With over 15 years of experience and knowledge of SEO and high quality content for our digital brands within our iGaming Affiliation segment, we reduce the underlying SEO risk while increasing user value. In most cases, our users find our websites through search engines. For many years, we have gathered experience and knowledge of what our users want, which means that we develop our brands according to the user’s actual needs and expectations.

Fast-growing Sports Betting vertical
Sports Betting accounts for about 50 percent of iGaming’s total global revenue. Acroud still generates the majority of its revenue from Casino and, to a lesser extent, also from Poker within the iGaming Affiliation segment. Acroud launched a Sports Betting vertical in 2018 and the vertical has been further developed in 2019 2020. Through the acquisition of RIAE Media in Q420 we have significantly strengthened the Sports Betting and we are prepared for rapid growth in Europe as well as in the US. The aim of the vertical expansion to Sports Betting is to add further long-term organic growth to our already existing operations.

Strong position in North America
Since the foundation of in 2003, the Company has built many years of experience and knowledge of the US market. In 2020 we have increased our focus and formed a strong US team simultaneously as we have ensured that we can operate in 12 states via business certificates and licenses. is a very strong brand and also helps drive traffic to non-Poker verticals. With other strong brands such as, and it will drive the growth over time in the US.

Financially flexible and prepared
Acroud’s operations will be conducted at low financial risk over time by continuously reducing net debt and maintaining good liquidity. Prioritising a good financial position and strong liquidity gives the Company flexibility and ensures it is ready to grasp opportunities and deal with future challenges.