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spire Global revealed that revenues increased 42.6% to €48.1 million from Q1 2020 driven by strong development in all segments. Growth was particularly strong in the UK and Ireland in both the casino and sports verticals.
During the first quarter, the EBIT increased 66.3% to €6.5 million as the Earnings after tax increased 140%to €6.1 million (2.5) as earnings per share, basic and diluted, increased 160% to €0.13 (0.05).
“EBITDA increased by 64.2% to €8.6 million with an EBITDA margin of 17.8%, well above our financial target of 16%. This improved profitability is driven by the revenue growth across all segments as well as strict cost control,” stated Tsachi Maimon, Aspire Global CEO.
Through several events in the quarter, the organic growth was 35.6% compared to Q1 2020 as B2B revenues grew 46.2% from Q1 2020 with organic growth of 36.6%.
Some of the key highlights from the report include:
- BtoBets sportsbook platform licensed in the UK and the first sportsbook deal signed with a UK-based operator.
- Strengthened presence in the US through game deals with Rush Street Interactive (RSI) in New Jersey and US-based platform provider GAN.
- Pariplay granted an Interim iGaming Supplier License for the state of West Virginia.
- Announced a review of the B2C segment to assist Aspire Global to focus on its growing B2B ambitions and its while also accelerating the B2C’s growth.
- In March 2021, the company’s major shareholders funded the company with a €10.3 million bridge loan to enable the redemption of the senior secured bond due on 6 April 2021.
Before the acquisition of BtoBet, sports´ revenues represented only 7.6% in Q1 2020, one year later, sports represents 15.2% of revenues.
Tsachi Maimon, Aspire Global CEO said: “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. It is also satisfying to see that both BtoBet and Pariplay contribute significantly to Aspire Global’s profitability.”
“BtoBet has established a strong position in Latin America and Africa. In the quarter, BtoBet further expanded its global footprint by being awarded certification in the UK. Pariplay also strengthened its position in the UK in the quarter by going live with Betfred, the largest independent betting brand in the UK.”
“We have recently accomplished the integration of BtoBet’s sportsbook to Aspire Core’s cutting-edge technology platform. This, in combination with Pariplay’s leading game offering, provides Aspire Global with crucial competitive advantages,” stated Tsachi Maimon.
