Yes, racket is a Scrabble word!

Verb

1. Celebrate noisily, often indulging in drinking; engage in uproarious festivities

2. Make loud and annoying noises

3. Hit (a ball) with a racket

Noun

1. A loud and disturbing noise

2. An illegal enterprise (such as extortion or fraud or drug peddling or prostitution) carried on for profit

3. The auditory experience of sound that lacks musical quality; sound that is a disagreeable auditory experience

4. A sports implement (usually consisting of a handle and an oval frame with a tightly interlaced network of strings) used to strike a ball (or shuttlecock) in various games