Following a record sixth consecutive quarter of growth, Aspire Global says it anticipates “tremendous growth opportunities” heading forward.
Due to “strong business momentum” and “significant progress” in the US, Europe, Latin America, and Africa, the company is optimistic about meeting its financial projections for the year.
Revenue grew 27.7 percent to €55.8 million in the second quarter of the year (2020: €43.7 million), boosted by “good growth” across all segments. Positive impacts from Pariplay and BtoBet boosted EBITDA by 40.1 percent to €9.9 million (2020: €7.1 million).
Aspire Core, the platform and managed services business line, increased by 7.7 percent, BtoBet, which was consolidated as of October 1, 2020, and comprises sub-segment sports, increased by 105 percent to €2.7 million, and B2C increased by 45.5 percent to €19.5 million (2020: €13.4 million).
Continued good business momentum
Of the performance Aspire said: “The total revenues growth is reflecting a continued good business momentum in both the casino and sports verticals in existing markets as well as the geographic expansion to new regulated markets, mainly in the Americas and Europe.”
The UK and Ireland segment increased by 123.6 percent to €19.9 million (2020: €8.9 million), while the rest of the world segment increased by 135.7 percent to €6.6 million (2020: €2.8 million), reflecting the group’s expansion in the Americas and Africa, which was aided by the consolidation of BtoBet.
Due to new laws implemented in Germany, the Nordics fell 2.3 percent to €4.2 million (2020: €4.3 million), while the rest of Europe fell 9.1 percent to €25.1 million (2020: €27.6 million).
Tsachi Maimon, CEO of Aspire Global said: “Our recent contract wins with new partners, covering Aspire Global’s complete igaming offering, show that we are in the forefront of the industry.”
Revenue is up 34.2 percent year to date at €103.9 million (2020: €77.4 million), with EBITDA up 50.3 percent to €18.4 million from €12.3 million.
The remainder of Europe remained stable at €49.6 million (2020: €49.4 million), with the UK and Ireland and the rest of the world increasing by 131.1 percent and 175.9 percent, respectively, to €34.2 million (2020: €14.8 million) and €12.3 million (2020: €4.4 million).
Tremendous growth opportunities
On the group’s outlook, Maimon added: “Aspire Global has consistently demonstrated its ability to execute its growth strategy and create value. We see tremendous growth opportunities by expanding with existing partners, gaining new partners and entering new markets.
“Aspire Global’s financial targets for 2021 are €200m in revenue and €32m in EBITDA which implies an EBITDA margin of 16 per cent. Taking into account our strong business momentum and deal activity, we are confident that Aspire Global will reach its 2021 financial targets.”