Aspire Global Praise ‘Solid Growth’ In Q1

Aspire Global has praised “solid growth” in a quarter that is “historically the weakest of the year,” with Q1 sales up 42.6 percent to €48.1 million (2020: €33.7 million), thanks to a “particularly strong” casino and sports showing in the UK and Ireland.

According to the group, total revenue growth reflects continued good business momentum related to the attractiveness of the large igaming offering, as well as expansion into markets outside of Europe and solid growth across all segments.

Geographically, the Nordics dropped 20 percent to €3.6 million (2020: €4.5 million), while the UK and Ireland increased 142 percent from €5.9 million to €14.3 million due to “strong growth in all segments.”

Aspire’s revenue from the majority of Europe increased 13 percent to €24.5 million (2020: €21.7 million), while revenue from the rest of the world increased 256 percent to €5.7 million (2020: €1.6 million), reflecting the group’s global growth plans and the merger of BtoBet.

During Q1 2020, EBITDA increased by 64.2 percent to €8.6 million from €5.2 million, and operating income increased by 66.2 percent from €3.92 million to €6.51 million.

Strong growth and robust profitability

Aspire’s CEO, Tsachi Maimon, stated: “Aspire Global reports another record quarter with strong growth of 42.6 per cent and robust profitability well above our financial target. This consistent performance demonstrates Aspire Global’s ability to execute its growth strategy and create value. 

“All segments reported strong development in the quarter, and the group made significant progress, especially in the US and the UK with new deals and the receipt of new licenses.”

Adding: “Aspire Global is a powerhouse for igaming operators and is ready to compete for any deal, anywhere, at any time. In addition to the huge growth opportunities we see by entering new regulated markets and gaining new customers, there are substantial opportunities to expand our business with existing partners.”

B2C and B2B division

The group’s B2C division achieved an all-time high in net gaming sales of €15.7 million, up 43.3 percent from €11 million, and EBITDA increased 14.4 percent to €1.6 million (2020: €1.4 million).

According to reports, the rise was stifled by “significant marketing investments” made after the Griffon brand was launched, as well as additional material expenses in the UK market.

B2B sales increased by 46.2 percent to €35.7 million, and EBITDA increased by 82.9 percent to €6.9 million (2020: €3.8 million), owing to sustained strong market momentum in all B2B segments.

Revenue increased 26 percent and 51 percent to €26.8 million (2020: €21.3 million) and €2.4 million (2020: €1.6 million), respectively, while EBITDA increased 45.7 percent and 30.2 percent to €4.4 million (2020: €3 million) and €711,000 (2020: €555,000).

Revenue increased 108.4 percent in the firm’s aggregation and games sub division, which includes Pariplay, and EBITDA increased 134.9 percent to $1.8 million (2020: €800,000).

Company prospects

Maimon went on to say about the company’s prospects: “We see tremendous growth opportunities for Aspire Global. With our complete igaming offering, we will target both new customers and broaden our presence with existing partners. 

“We have proven our ability to gain tier one operators as customers with names such as Rush Street Interactive, Betfair, William Hill and 888casino. The strategy to grow in regulated markets is proven efficient, and we will continue to license our offering in more regulated markets and enter new markets. 

“We remain confident in our ability to deliver on our 2021 financial targets and are truly excited by Aspire Global’s future prospects.”