BtoBet consolidation helps Aspire to record Q2 returns
BtoBet’s proprietary sportsbook is becoming a key competitive advantage when talking to new as well as existing partners, said Aspire Global as it reacted to recording ‘all-time high’ revenues and EBITDA in Q2 2021 (April to June).
Aspire’s platform and managed services business line grew by 7.7%, with the sub-segment Aggregation and Games (Pariplay) up 72.2%, while BtoBet – consolidated as of 1 October and now constituting the sub-segment Sports – grew by 105% to €2.7 million (compared to Q2 2020 numbers that were not consolidated).
In total, the online casino and sportsbook platform provider posted quarterly revenues of €55.8 million, up 27.7% from the corresponding period of 2020 (43.7). You can find the full breakdown HERE.
Aspire Global’s revenue target for the whole of 2021 is €200 million, with €32 million in EBITDA which implies an EBITDA margin of 16%.
“Taking into account our strong business momentum and deal activity, we are confident that Aspire Global will reach its 2021 financial targets,” said CEO Tsachi Maimon.
The total revenue growth might have reflected the business momentum across both the casino and sports verticals, but there were decreases to highlight.
Income from the Nordics was down by 2.3% to €4.2 million (€4.3) and ‘Rest of Europe’ dropped by 9.4% to €25.1 million (€27.6), mainly due to new German regulations.
On 8 July 2021, the Group moved to offset the damage in Germany by launching BuyWin, a new tool for the country’s casino operators which gives a higher return to players as well as access to more content.
The Nordic and ‘Rest of Europe’ Q2 losses were more than compensated by an increase to revenue from the ‘Rest of the World’ (up by 135.7% to €6.6 million), which reflected Aspire’s expansion in the Americas and Africa – enhanced by the consolidation of BtoBet.
Meanwhile, revenues for the Group’s second biggest region, UK and Ireland, reached €19.9 million – up 123.6% from €8.9 million in Q2 2020.
Maimon said: “Growth was particularly strong in the UK and Ireland, as well as in the rest of the world, which reflects our successful expansion in the Americas as well as the consolidation of BtoBet.”
Expanding on Aspire’s new sportsbook addition, he added: “BtoBet’s proprietary sportsbook is a key competitive advantage when talking to new as well as existing partners.
“In the quarter, we initiated the first projects where partner brands will replace their existing sports solution with the BtoBet sportsbook and in mid-August the first brand went live with BtoBet’s sportsbook on our platform.
“We expect the shift of partner brands to the BtoBet proprietary platform to positively impact revenues and margins throughout 2021.”