Gross revenue for the three months to 30 September climbed to €40.1m, though had BtoBet – acquired in mid-September – been factored in, it would have been up 26.1% to €41.9m.
This broke down to €23.8m from Aspire’s B2B technology arm Core, up 13.6%, with a further €12.3m coming from its B2C operations. Games revenue, from developer and content aggregator Pariplay, contributed the remaining €4.0m.
“Aspire Global has recently passed several landmarks and is stronger than ever,” chief executive Tsachi Maimon noted.
Following the quarter end, Aspire, via BtoBet, signed up Flutter Entertainment’s Betfair as a partner in Colombia, which Maimon said highlighted the opportunities on offer through the acquisition. He said it showed the business was now capable of competing “for any deal, anywhere”.
“In Q3 2020 we had 129 active partners and by adding BtoBet we now count 150 active partners. This impressive number gives us a solid base for further growth and expansion. We see endless opportunities to grow with present partners as well as to establish Aspire Global as the prime supplier to new customers,” Maimon continued.
After paying value added tax (VAT) on European Union activities, Aspire’s net revenue for the quarter came to €39.0m, up 21.2%. However, this growth in revenue led to an increase in operating costs, which climbed 20.4% to €32.4m, as distribution, gaming duties, and administrative costs rose.
However, thanks to the revenue growth, Aspire’s earnings before interesting, tax, depreciation and amortisation (EBITDA) remained up year-on-year at €6.6m, a 25.7% improvement on Q3 2019. Looking ahead, October trading volumes, including BtoBet, increased to €14.1m, a 32% improvement on the average monthly trading volume in Q4 2019, Maimon said.
“The past twelve months have been very special to Aspire Global. We have made two strategic, important acquisitions — Pariplay and BtoBet. At the beginning of the year we quickly adapted to the Covid-19 outbreak. Growth has been good during the year and the company is now a true powerhouse for igaming operators and aim to become the world’s leading igaming supplier. We are confident in our ability to deliver on our 2021 financial targets and truly excited by Aspire Global’s future prospects,” Maimon concluded.
Source: GMB / iGB
