Aspire trades above expectations as group readies to turbocharge Btobet and Pariplay
Aspire Global remains confident in achieving all financial and operating objectives, after the Nasdaq Nordic igaming systems provider registered its sixth consecutive quarter of corporate growth.
Publishing its Q2 Interim Report (period ending 30 June), Aspire tracked year-to-date revenues of €104 million, up 34% on H1 2020 results of €77 million.
Strong Q2 trading saw Aspire register peak performance revenues of €56 million in Q2 – up 28% on corresponding Q2 results of €44 million.
Period growth was attributed to strong commercial developments in new and established markets for Aspire’s product catalogue of platform systems, managed services and games aggregation.
Of significance, Aspire saw its UK-&-Ireland income increase to €20 million (+123%), helping the company overcome a 2.3% income decline in the Nordics to €4.2 million.
“Our recent contract wins with new partners, covering Aspire Global’s complete iGaming offering, show that we are in the forefront of the industry,” said CEO Tsachi Maimon.
“In June, we signed a deal with Stake.com for its upcoming launch of a new brand in the UK. Stake.com is an international, fast-growing casino and betting site with more than 30 billion bets every year.
“We are happy to support Stake.com with our complete offering in launching its new casino and betting site stake.co.uk in the large UK market.”
Period trading benefited from the continued integration of BtoBet sportsbook assets, marked as a further ‘value-creating asset’ bolstering Aspire’s product portfolio.
BtoBet has helped Aspire launch a new sub-segment ‘Sports’, which grew in revenues by 105% to €2.7 million during Q2 – helping support the fast growth asset of PariPlay ‘Games-&-Aggregation’ which generated a period income of €7.4 million.
Aspire plans to bolster BtoBet and Pariplay’s commercial reach across new markets in which the tech group is now licensed to operate within 30 regulated markets.
Further trading positives saw Aspire’s earnings results track ‘well above expectations’ as the company registered a Q2 EBITDA increase of 40% to €9.9 million (Q2 2020: €7.1m).
Year-to-date results saw Aspire track an EBITDA increase of 50.3% to €18.4 million (YTD2020: €12.3m), as the company maintains a slightly lowered cash flow of €13.3 million attributed to BtoBet consolidation costs.
“Aspire Global reports its sixth consecutive quarter with solid growth,” said Maimon. “We made significant progress in the quarter by growing our business with both existing as well as new partners in the US, Europe, Latin America and Africa.
“Taking into account our strong business momentum and deal flow, we are confident to reach our 2021 financial targets.”