The Collaborative International Dictionary of English v.0.48:

Rakehell \Rake"hell`\, Rakehelly \Rake"hell`y\
   (r[=a]k"h[e^]l`[y^]), a.
   Dissolute; wild; lewd; rakish. [Obs.] --Spenser. B. Jonson.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Rakehell \Rake"hell`\ (r[=a]k"h[e^]l`), n. [See Rakel.]
   A lewd, dissolute fellow; a debauchee; a rake.
   [1913 Webster]

         It seldom doth happen, in any way of life, that a
         sluggard and a rakehell do not go together. --Barrow.
   [1913 Webster] Rakehell

WordNet (r) 3.0 (2006):

rakehell
    n 1: a dissolute man in fashionable society [syn: rake,
         rakehell, profligate, rip, blood, roue]