Results

Streamlined Aspire Global business targets US growth amid 31.7% revenue rise in Q1 2022

By Conor Mulheir - 4 May, 2022

Aspire Global will continue to pursue expansion in North America after recording revenue of €46.3m in Q1 2022 at a growth rate of 31.7% year-on-year.

Following the divestment of its B2C segment in December 2021, Aspire has provided figures in its latest report calculated on a discontinued basis, with the divested B2C operation now reported as a B2B partner.

On this basis, EBITDA for the period came to €8.2m, 18.7% ahead of Q1 2021, at an EBITDA margin of 17.8%. EBIT, meanwhile, totalled €5.6m, 13.6% ahead of the prior year period.

The firm’s earnings after tax came to €4.8m, up 4.7%, to give earnings per share of €0.10.

“We have a continued strong business momentum and the quarterly performance once again demonstrates the strengths of our offering and the capabilities of our highly motivated team,” said Aspire Global CEO Tsachi Maimon.

“Aspire Global has set new records in the quarter with revenues of €46.3m and EBITDA of €8.2m. I’m especially proud to see the progress we have made in the quarter in North America, as well as in regulated European markets, by adding tier-one operators to our client list and being awarded additional certifications.”

Commenting on the agreed acquisition of Aspire Global by NeoGames, Maimon added: “Aspire Global’s entire operations will form a new iGaming division within NeoGames.

“Together, our companies will generate significant long-term value by creating synergies and capitalising on the key strengths of the entities by positioning them for expansion in both new and existing markets. We look forward to being a part of NeoGames and I’m very excited about our promising growth opportunities in this new strong business combination.”

The firm continued to turn its attention to North America during the quarter after obtaining the Gaming Labs International (GLI) certification standard for its offering.

This enables the business to launch its platform, sportsbook and managed services in the US and Canadian markets.

It is worth noting that Aspire Global already boasts a presence in several North American markets – including New Jersey, Michigan, West Virginia and Ontario – through its iGaming content and aggregator provider Pariplay.

Looking to the future, Maimon concluded: “Aspire Global is today clearly positioned as a leading iGaming supplier in regulated markets. As part of the NeoGames Group, Aspire Global will continue to take advantage of its key strengths.”