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Sportradar Announces Additional Strategic Actions to Streamline Organizational Structure and Drive Growth and Innovation

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Sportradar Group AG (NASDAQ: SRAD) (“Sportradar” or the “Company”) today announced additional strategic actions as part of its previously announced initiatives to streamline its organizational structure to enhance focus on clients and partners, drive global innovation and product development, and propel long-term growth, profitability, and shareholder value.

“I am excited to announce this new global organization and leadership structure, which aligns our teams on our strategic priorities, promotes agile execution and better positions Sportradar for future growth,” said Carsten Koerl, CEO of Sportradar. “By centralizing our key business functions, we will foster greater collaboration and faster decision making, enabling us to drive further operating efficiencies and increased innovation across our business. These decisive steps will enable us to better serve our clients and partners as well as capture the significant market opportunities ahead of us. I am confident we have the right leaders in place, intently focused on executing on our strategic priorities. For 2023, we remain on track to deliver on our strong growth targets and are well positioned to maintain that momentum into 2024.”

Effective immediately, the new organizational structure consists of six business functions:

  • Product Delivery and Operations combines and centralizes content, product development and engineering globally to seamlessly deliver best-in-class products and solutions to clients and partners, led by Warren Murphy, previously Chief Product Officer and now Chief Delivery and Operations Officer.
  • Growth and Innovation combines growth, strategy and innovation to facilitate a unified vision for identifying and capitalizing on market opportunities, thereby ensuring a well-defined growth strategy fueled by continuous innovation, led by Nick Maywald, previously Chief Content Officer and now Chief Growth and Innovation Officer.
  • Commercial combines the Company’s go-to-market functions, including sales, client services and care, sports partnerships, marketing and communications to further drive revenue opportunities while enhancing its client- and partner-centric approach, led by Chief Commercial Officer Eduard Blonk.
  • Legal, Risk and Administrative Services, led by Lynn McCreary, Chief Administrative Officer, Chief Legal Officer and Corporate Secretary.
  • People, led by Severine Riviere-Gerstner, Chief People Officer.
  • Finance, led by Gerard Griffin, Chief Financial Officer.

As part of these organizational changes, Ulrich Harmuth, Chief Strategy Officer, will be departing the Company to pursue other endeavors.

Separately, Griffin has informed the Company that he will be leaving for personal reasons. Griffin will continue as CFO until May 31, 2024, or the appointment of a permanent successor, if earlier. The Company has initiated a search for its next CFO, whom it expects to announce prior to Griffin’s departure.

Sportradar also reaffirmed its fiscal 2023 guidance of revenue in the range of €870 million to €880 million, representing year-over-year growth between 19% and 21%, Adjusted EBITDA1 in the range of €162 million to €167 million, representing year over-year growth between 29% and 33%, and Adjusted EBITDA margin in the range of 18.4% and 19.2%. The Company also reaffirmed its fiscal 2024 outlook for revenue and Adjusted EBITDA growth of at least 20%.

Koerl continued, “I want to thank Ger for his contributions to Sportradar. He has meaningfully strengthened our finance team with a deep and talented bench that will continue to contribute to the Company as we look to drive growth and profitability into the future. We look forward to continuing to benefit from his leadership while we search for a permanent successor.”

Koerl concluded, “I also want to thank Ulrich for his contributions to our company, clients and partners that have positioned Sportradar for continued success. For over a decade, he held various leadership roles, contributing to our growth. We wish him the best in his future endeavors.”

Avanti Studios

Avanti Studios signs live casino content deal with bet365

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Launch starts in Spain with Blackjack and other titles, with additional regulated markets planned.

Avanti Studios has signed an agreement with bet365 to launch its live casino content with the operator, starting in Spain.

Under the deal, bet365 will add a suite of Avanti games in Spain, including Blackjack, expanding its casino offer in the market beyond roulette. Avanti said its games are hosted by “lifelike digital clones” and designed to support localisation and scaling.

Avanti said the rollout will extend beyond Spain, with bet365 planning to introduce the supplier’s content in additional regulated markets over the coming months.

Jonas Delin, Co-Founder at Avanti Studios, said: “We’re very excited to be partnering with one of the industry’s leading operators in bet365. The deal will allow them to host new games like Blackjack in Spain.”

Clement Le Scanff, Head of Gaming – Commercial & Operations at bet365 said: “We’re pleased to partner with Avanti to bring innovative, differentiated content to Spain, enhancing our offering and introducing new entertainment experiences for our players.”

The post Avanti Studios signs live casino content deal with bet365 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Peter & Sons adds GR8 TECH to expand casino distribution

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The studio’s slot portfolio will be integrated into the GR8 Casino platform for access by GR8_TECH operator partners in regulated markets.

Peter & Sons has signed a distribution partnership with GR8_TECH to integrate its games into the GR8 Casino platform, extending reach across the platform provider’s operator network in regulated markets.

Under the agreement, GR8_TECH will add Peter & Sons’ portfolio to its casino offering, making the studio’s titles available to operators using GR8_TECH’s technology stack. Games referenced in the announcement include Barbarossa Dragon Empire, Ghostfather Awakened, Zombie Road, and Sand of Destiny.

Yann Bautista, Founder and Commercial Director at Peter & Sons, said: “Partnering with GR8_TECH represents another important step in expanding the reach of our portfolio across regulated markets. Their platform combines strong technology with a clear understanding of what modern casino operators are looking for, making them a very exciting partner for us. We’re looking forward to seeing our games introduced to new audiences through their growing network.”

Lusine Khudaverdyan, Head of Casino Business at GR8_TECH, said: “Excited to welcome Peter & Sons to our partner pool. They are genuine storytellers, creating incredibly immersive, cinematic worlds that players truly want to inhabit. By integrating their content, we provide our clients with bold, artistic experiences that satisfy a new generation of players craving high engagement and fresh aesthetics.”

The post Peter & Sons adds GR8 TECH to expand casino distribution appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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St8 cements Ontario content offering through latest partnership with RubyPlay

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Casino games aggregator and full-service technology provider St8 has partnered with RubyPlay to further expand its Ontario offering, adding the studio’s popular slot portfolio to its growing aggregation platform across the Canadian province.

As part of the agreement, operators in Ontario will gain access to a range of titles from across RubyPlay’s studio ecosystem, including content from RubyPlay Studio, Koala Games, Mad Hat Games and Firerose, through St8, with upcoming releases from Xslots also expected to go live through the platform. Standout games include J Mania® Lucky Pyggs, Mad Hit® Mr. Coin and Diamond Explosion® 7s SE. The integration strengthens St8’s content portfolio with a range of proven, high-performing slot titles tailored to the region.

RubyPlay has continued to grow its footprint across regulated jurisdictions through its studio-based ecosystem and tailored content strategy, earning key tier one recognition for developing high-performing games that resonate with players in key markets worldwide. The supplier’s games offering has proven appeal in Ontario, resonating well with local players in the region.

The partnership strengthens St8’s proposition in Ontario, a market that has quickly become a key part of the company’s growth strategy as it continues to establish itself as a leading technology provider around the globe.

David Fall, Business Development Manager at St8, said: “Partnering with RubyPlay in Ontario is an exciting addition to our growing content offering in North America.

“The supplier has built strong momentum across regulated markets through its engaging portfolio and player-focused approach, and we are delighted to bring its high-performing content from across its studio ecosystem to operators in Ontario through the St8 platform.”

Dima Reiderman, Chief Commercial Officer at RubyPlay, said: “Ontario is a market we have been focused on for some time, so teaming up with St8 feels like a natural step in our North American expansion.

“St8’s aggregation platform provides an excellent route for our diverse portfolio of content to reach more operators in Ontario. Through our studio ecosystem, we are able to deliver a broad range of experiences tailored to different audiences and market needs, making this partnership a strong fit for both companies”

The post St8 cements Ontario content offering through latest partnership with RubyPlay appeared first on Americas iGaming & Sports Betting News.

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