It was re-released in the 2003-2004 incarnation of the line. Recently in 2010, it was released again, this time as the "Yomega StormTiger".
As can be easily seen, the Hyper Raider is the Hyper Yo-Yo adaptation of the Yomega Raider, distributed in Asian countries by Bandai, especially in Japan, where the Hyper Yo-Yo boom was in full swing at the time. It features pretty much the same shape, ball bearing axle, and performance, but with edited side cap art now reading "Yomega-Bandai 1998 Made in USA Hyper Raider". It was noted by some to be a little more responsive than the original Raider.