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Aspire Global: Interim Report Second Quarter 2021

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ALL-TIME HIGH REVENUES AND EBITDA IN Q2 2021

SECOND QUARTER

  • Revenues increased by 27.7% to €55.8 million (43.7).
  • EBITDA increased by 40.1% to €9.9 million (7.1).
  • The EBITDA margin increased to 17.7% (16.1%).
  • EBIT increased by 37.5% to €7.8 million (5.7).
  • Earnings after tax increased 53.7% to €6.9 million (4.5).
  • Earnings per share increased 56% to €0.14 (0.09).

SIX MONTHS

  • Revenues increased by 34.2% to €103.9 million (77.4).
  • EBITDA increased by 50.3% to €18.4 million (12.3).
  • The EBITDA margin increased to 17.8% (15.8%).
  • EBIT increased by 49.3% to €14.3 million (9.6).
  • Earnings after tax increased 84.9% to €13.0 million (7.0).
  • Earnings per share increased 93% to €0.27 (0.14).

SIGNIFICANT EVENTS IN THE QUARTER AND AFTER THE END OF THE QUARTER

  • Revenues increased 27.7% from Q2 2020 driven by strong development in all segments and the acquisition of BtoBet, a leading sportsbook provider, in September 2020.
  • Organic growth of 21.6% from Q2 2020.
  • B2B revenues grew 24.4% from Q2 2020 with organic growth of 16.2%.
  • Significant progress in sub-segments Aggregation and Games – Pariplay and Sports – BtoBet.
  • Good progress in the US with deals covering game aggregation and proprietary games.
  • Platform and managed services deal with Ireland’s biggest land-based casino group.
  • Three deals covering Aspire Global’s complete offering for the launch of new brands in Europe and Latin America.
  • First brand live with BtoBet’s sportsbook on Aspire Global’s platform.
  • New license for games in Greece. Aspire Global now operates in 30 regulated markets.
  • Sports deals signed with, among all, esports operator Luckbox.
  • BuyWin, a new innovative tool, which addresses the new German regulation, was launched in July. BuyWin also gives a higher return to player and access to a wider range of content.

 

CEO COMMENTS

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“WE ARE CONFIDENT TO REACH OUR 2021 FINANCIAL TARGETS”

Aspire Global reports its sixth consecutive quarter with solid growth. 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.

Revenues increased by 27.7% from Q2 2020 to an all-time high €55.8 million, with organic growth of 21.6%. Growth was particularly strong in the UK and Ireland as well as in region rest of world which reflects our successful expansion in the Americas as well as the consolidation of BtoBet. It is especially gratifying to note the strong organic growth taking into account that Q2 2020 was positively impacted by the pandemic.

EBITDA increased by 40.1% to record high €9.9 million and the EBITDA margin improved to from 16.1% to 17.7%. The increased profitability is driven by strong topline growth, impressive performance in BtoBet and Pariplay, acquired in 2020 and 2019, respectively, as well as our continuous focus on cost control.

KEY WINS FOR OUR PLATFORM OFFERING

Our recent contract wins with new partners, covering Aspire Global’s complete iGaming offering, show that we are in the forefront of the industry. 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. In April, we signed the deal with Luckster.com, a new multi-vertical brand founded by industry veterans, for its upcoming launch in Europe and Latin America. Two weeks ago, we signed an agreement with JNS Gaming which we will support in building a new, global casino and sports brand.

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A key growth segment to us is landbased casinos that want to go online. We are proud to partner with Funfair Casino, Ireland’s biggest land-based casino group, and to support in taking their business online.

SUCCESS FOR BTOBET

Just shortly after our acquisition of BtoBet last fall, BtoBet announced a deal with Betfair in Colombia. Betfair launched its sportsbook in Q1 2021 and we can now see a satisfying development in deposits which demonstrates BtoBet’s capabilities. This mutually rewarding collaboration can open up for other opportunities and is a good case study of how Aspire Global approaches tier 1 operators.

Esports is a quickly growing segment and we are excited to team up with the award-winning esports operator Luckbox. BtoBet will be providing Luckbox with its cutting-edge sportsbook in European and Latin American countries. This will enable Luckbox to build an entirely bespoke player journey, customizing the sportsbook experience to its liking and providing players with a unique customer experience.

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 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.

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SIGNIFICANT PROGRESS IN THE US

Our expansion plans for the US market are running according to plan. Since early August, we have Quincy Raven in place as the Managing Director of Aspire Global’s US operations. The US iGaming market is growing at an impressive rate, and we want to be at forefront of the developments. Quincy has vast experience and will focus on accelerating sales and setting up the relevant operations in order to make sure Aspire Global can establish a significant presence in the US.

In May, Pariplay signed a deal with Amelco that will integrate Pariplay’s premium Fusion platform into its US offering. This partnership will boost both parties’ US operations across multiple states. In April, Pariplay signed a deal with the platform provider GAN to provide its games across New Jersey, Pennsylvania and Michigan.

GROWTH IN NEW MARKETS

Aspire Global today operates in 30 regulated markets spanning Europe, the Americas and Africa. Our objective is to continue our growth in regulated markets, both with existing and new partners. We have a strong focus on gaining more certifications and licenses mainly in Europe and the Americas. In the Americas, we focus especially on the US and Brazil. In Europe we see a huge potential for our sportsbook. The introduction of our sportsbook offering has just started in the UK and we have certification processes ongoing in other key European markets. In June, Pariplay was granted a Greek suitability license and the license allows us to enter the Greek market for the first time.

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NEW INNOVATIVE FEATURES

To stay at the forefront of the industry development, innovation is important to us. In order to meet the new requirements in the German market, we launched BuyWin in July. BuyWin addresses the new German regulation by a unique bet contribution on transactions, enabling operators to offer all the games German players are used to, at the standard, high RTP of 95-96%. The innovative tool delivers better player acquisition opportunities due to the higher RTP and wider range of gaming content. AspireEngage, our new CRM tool, was launched earlier this year and is a key contributor to the strong growth.

VALUE CREATING ACQUISITIONS

In Q2 2021, Pariplay reported revenue growth of over 72% and BtoBet of more than 105% with good profitability. These two acquisitions have significantly contributed to Aspire Global’s strong performance and have been essential in positioning Aspire Global as the powerhouse for iGaming operators. It is satisfying to see that Aspire Global has so clearly demonstrated its ability to make value creating acquisitions.

STRONG B2C GROWTH

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Also in this quarter, the B2C segment demonstrated strong revenue growth. In March 2021, we initiated a review of the role of the B2C segment within the Group structure and we expect to finalize the review during the fall. The review will assist us to better assess our options to further accelerate its growth. Such a move could help improve Aspire Global’s overall margins and EBITDA and potentially support us in accelerating new B2B initiatives and enter fresh markets.

OUTLOOK

Aspire Global has consistently demonstrated its ability to execute its growth strategy and create value. We see tremendous growth opportunities by expanding with existing partners, gaining new partners and entering new markets. Aspire Global’s financial targets for 2021 are €200 million in revenue and €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.

Tsachi Maimon, CEO

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QiH Group completes C-suite hiring spree with new CFO appointment

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QiH Group has been in the betting and gaming trade press frequently for its exciting yet steady growth the past few months – mainly in scouting and appointing the best-in-class talent from within the industry.

The latest talent acquisition in the iGaming group’s repertoire is finance and industry stalwart Simon Winder, who joins after seven years with Spotlight Sports Group (SSG). Winder, who has an impressive record in finance, including half a decade with the Football Association as well as time in the music and television industry.

As part of the new C-suite layer in the UK side of QiH’s business, Winder will use his growth-oriented financial expertise to support the business’s rapid growth, set out longer-term finance strategies and work with each department to achieve overall P&L goals.

Jamie Walters, CEO and co-founder of QiH Group, said that Winder’s appointment completes the C-level scaling the business set out to achieve at the beginning of FY 2024-2025.

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“We’ve made no secret of the fact that our business is growing fast. FY2023 delivered 75 percent growth in both revenue and profit and 2024 is on track to achieve the same again,” Walters explains. “Simon is an integral part of the formula we need to support this growth and to help take QiH Group into the next phase of our business. Massive thanks to our incredible HR Director, Andrea Talreja, and her incisive and insightful executive search that has brought us the support at C-level that we need to forge ahead.”

Winder, who will take up his post 1 November 2024, said: “After a wonderful and rewarding seven years with SSG, it’s great to be moving to a young company with the reputation for  innovation, growth and compliance that QiH Group has. Having watched the affiliate’s progress from the outside these past four years, it will be extremely fulfilling to be part of the action!”

Winder joins newly appointed CMO David Murphy, CTO Sachin Saxena and COO Andrew Lee in managing the company from the London office, but across both the Skopje and London teams.

* * *

For more information on QiH, Simon or to arrange an interview, please contact: [email protected] or [email protected]

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About QiH Group

Founded in 2014, QiH is an innovative and industry-leading digital marketing business in the iGaming industry. With offices in London, UK and Skopje, North Macedonia, we specialise in digital marketing within the iGaming industry in multiple markets around the globe. Our companies include: Digital Adventures, with its suite of iGaming aggregator brands that deliver traffic to the biggest operators in the industry; Wizard Interactive, an affiliate partner for top-tier US-based online casinos looking for high-quality traffic and Tau Marketing Services, a suite of three consumer-facing, multi-geo casino brands run through the Aspire network.

The post QiH Group completes C-suite hiring spree with new CFO appointment appeared first on European Gaming Industry News.

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VIRGIN BET AND PRESENTING STAR NATALIE PIKE BRING ‘WOMEN’S DAY’ TO DONCASTER RACECOURSE

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Virgin Bet is excited to announce the second iteration of its ‘Women’s Day’ event, which will take place at the Virgin Bet November Handicap on Saturday, 9th November, at Doncaster Racecourse.

 

The day will serve as a platform to celebrate women in racing, making it the latest effort in Virgin Bet’s long line of social impact initiatives to help create a more inclusive environment.

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 Building on the success of the inaugural Women’s Day at Ayr Racecourse last season, this celebration aims to further highlight and honour the invaluable contributions of women in racing.

The event at Doncaster Racecourse is open to everyone, embodying Virgin Bet’s brand mission, ‘A Good Bet’. This campaign emphasises the brand’s dedication to breaking down pre-existing barriers within sports and culture at large.

As part of the day’s proceedings, in addition to enjoying Doncaster’s spectacular race offerings, attendees can attend two panels led by presenter Natalie Pike, with the first starting at 10:45 am in the Exhibition Hall. Combining celebration with insight, these discussions will encourage reflection and spark conversation, connecting racing fans with legendary women transforming horse racing while also addressing diversity in the sport.

Panellists will include:

 

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Panel 1: Women of Horse Racing

  • Sophie Green (Trainee Clerk of the Course, Southwell Racecourse)
  • Charlotte Russel (General Manager, Go Racing In Yorkshire)
  • Rachel Harwood (Executive Director, Doncaster Racecourse)

 

Panel 2: Creative Inclusivity in Racing

  • Dawn Goodfellow (CEO, Racing Welfare)
  • Emma Kay (Founder, WalkSafe)

 

Additionally, as part of Virgin Bet’s raceday sponsorship, a donation will be made to Racing Welfare. Their work ensures the well-being and success of British horseracing’s workforce. Virgin Bet’s support for Racing Welfare highlights the importance of giving back to the community that keeps the industry running.

The Virgin Bet November Handicap marks the beginning of Virgin Bet’s continued partnership with Arena Racing Company (ARC) for a series of key meetings throughout the 2024/25 season. This partnership extends to fellow LiveScore Group brand LiveScore Bet.

Virgin Bet’s Personal Safety Partner, WalkSafe, will also be integrated into the race day. Founded in 2020, WalkSafe was developed to give the public as much information about their surroundings as possible. The app, WalkSafe+, enables users to plan the safest route home, along with a host of additional features to help ensure a safer experience for all.

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Racegoers will be able to learn more about the innovative and free-to-download app over the course of the raceday, and get the chance to speak with its founder, Emma Kay, who strives every day to educate and highlight the importance of safety in all walks of life. Emma will also feature on one of the panels, sharing her insights and experiences as part of the discussions.

This second iteration of Women’s Day, now making its debut at Doncaster, serves as a potential alternative to traditional Ladies’ Day. Virgin Bet, in partnership with Doncaster Racecourse, is proud to continue fostering a celebratory environment, reminding everyone that racing truly welcomes all.

 

Dominic Vye, Marketing Director, Virgin Bet, said:

“Horse racing owes much of its success to the incredible women who contribute so much behind the scenes, and it’s time we celebrate their achievements. At Virgin Bet, as part of our ‘A Good Bet’ brand campaign, we want to make sport more accessible and highlight brilliance, no matter who the subject is, and this initiative is doing exactly that.”

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Presenter and ‘Women’s Day Sponsored by Virgin Bet’ collaborator, Natalie Pike, added:

“It’s been amazing to return and once again be part of this fantastic initiative with the teams at Virgin Bet and Doncaster Racecourse. I hope this year’s event will continue to inspire and uplift the incredible women in horse racing. Creating an inclusive and safe environment for everyone in the sport is so important, and I’m proud to help bring attention to that.”

Rachel Harwood, Executive Director of Doncaster Racecourse, continued:

“We are proud to celebrate Women’s Day here at Doncaster Racecourse. This initiative shines a spotlight on the essential role women play in our sport. It’s also a fantastic opportunity to remind everyone that racing is for everyone, and we hope all racegoers feel that sense of inclusivity and belonging.”

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“We’re also delighted to have Virgin Bet’s Personal Safety Partner WalkSafe integrated as part of their sponsorships with us. The experience and safety for all spectators at our racecourses is a priority, so it’s fantastic to see this as part of Virgin Bet’s ‘A Good Bet’ initiatives, which aims to create a more inclusive and welcoming environment for all.”

 

To purchase tickets, please visit: www.tickets.doncaster-racecourse.co.uk

The post VIRGIN BET AND PRESENTING STAR NATALIE PIKE BRING ‘WOMEN’S DAY’ TO DONCASTER RACECOURSE appeared first on European Gaming Industry News.

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NSW Govt Appoints New Board Members to ILGA

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The NSW Government has made appointments to the board of the Independent Liquor and Gaming Authority (ILGA), including a deputy chairperson and two new members.

Associate Professor Amelia Thorpe and Nicholas Nichles have been appointed following a rigorous public expression of interest selection process. Additionally, existing member Chris Honey has been appointed deputy chairperson.

ILGA is a statutory decision-maker responsible for a range of liquor, registered club and gaming machine regulatory functions including determining licensing and disciplinary matters.

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The appointments follow the end of the term of appointment for outgoing deputy chairperson Sarah Dinning, and also fill vacancies that existed on the board.

Mr Honey, who was appointed a member of ILGA earlier in 2024, has been named deputy chairperson until the end of his current appointment term (11 February 2027).

Mr Honey has extensive experience in the advisory and restructuring field, including working extensively in highly regulated sectors.

Associate Professor Thorpe and Mr Nichles have both been appointed for four years commencing 6 November 2024.

Associate Prof Thorpe is with the Faculty of Law & Justice at the University of New South Wales and an Acting Commissioner of the NSW Land and Environment Court.

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Mr Nichles was previously a Consul General and Senior Trade and Investment Commissioner for Australian Government agency Austrade, based in the US.

The new appointments bring the ILGA board membership to seven. The new appointments will join chairperson Caroline Lamb, new deputy chairperson Mr Honey and current members Cathie Armour, Jeffrey Loy APM and Dr Suzanne Craig.

The post NSW Govt Appoints New Board Members to ILGA appeared first on European Gaming Industry News.

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