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Aspire Global: Interim Report Third Quarter 2021
REVENUE INCREASED 46% AND EBITDA 38% IN Q3 2021
THIRD QUARTER
- Revenues increased by 46.0% to €58.6 million (40.1).
- EBITDA increased by 38.0 % to €9.1 million (6.6).
- The EBITDA margin amounted to 15.5% (16.4%).
- EBIT increased by 38.7% to €6.8 million (4.9).
- Earnings after tax increased 68.1% to €6.4 million (3.8).
- Earnings per share increased 62.5% to €0.13 (0.08).
NINE MONTHS
- Revenues increased by 38.2% to €162.4 million (117.5).
- EBITDA increased by 46.0% to €27.5 million (18.8).
- The EBITDA margin increased to 16.9% (16.0%).
- EBIT increased by 45.7% to €21.1 million (14.5).
- Earnings after tax increased 79.0% to €19.4 million (10.8).
- Earnings per share increased 77.2% to €0.39 (0.22).
SIGNIFICANT EVENTS IN THE QUARTER AND AFTER THE END OF THE QUARTER
- Revenues increased 46.0% from Q3 2020 driven by strong development in all segments.
- Organic growth of 39.0% from Q3 2020.
- B2B revenues grew 40.5% from Q3 2020 with organic growth of 31.2%.
- Strong performance in sub-segments Aggregation and Games – Pariplay and Sports – BtoBet.
- Agreement to sell the B2C segment to Esports Technologies announced 1 October – closing expected by 30 November 2021 upon completion
of certain contingent terms. The total value of the transaction sums up to about €65 million. The transaction also includes a four-year platform and managed services agreement with an estimated gross value of €70 million. - Aspire Global signed a platform deal with Esports Technologies in September for its leading brand Gogawi.
- Pariplay further strengthened its position in the Americas – first contract in Brazil signed and granted full supplier license in West Virginia.
- Pariplay signed a deal to provide its proprietary games to Holland Casino in the newly regulated Dutch market.
- First brand live with BtoBet’s sportsbook on Aspire Global’s platform. To date six brands are already live.
- Two deals covering Aspire Global’s complete offering signed.
CEO COMMENTS
“WE CLEARLY EXECUTE OUR GROWTH STRATEGY TO BECOME A WORLD LEADING IGAMING SUPPLIER”
With the sale of the B2C segment, Aspire Global will become a clearly focused B2B company and even stronger and more profitable. The sale will also give us additional resources to further develop and enhance our B2B offering as well as the opportunity to explore new M&A activities. In Q3 2021, we have made key progress towards our objective of establishing strong positions in the US and Brazil. Our success in these markets will be important steps in reaching our goal to become a world leading B2B iGaming supplier.
The sale of the B2C segment – expected to take place at the end of November 2021 – will have a significant positive impact on Aspire Global’s position as a focused B2B company and profitability. Excluding the B2C segment, revenues increased by 36.1% to €118.9 million and EBITDA increased by 54.1% to €22.7 million in the first nine months 2021 with an EBITDA margin of 19.1%. B2B organic growth in the nine-month period amounted to 27.1%.
We initiated the review of our B2C segment in March this year, and on October 1 we announced the agreement with US-based Esports Technologies to acquire the B2C segment. The consideration sums up to about €65 million, consisting of €50 million in cash, €10 million in a promissory note and €5 million in common stock in the listed entity of Esports Technologies. The transaction also includes a four-year platform and managed services agreement with an estimated gross value of €70 million, based on present volumes. The transaction is expected to close by November 30, 2021, pending Esports Technologies receipt of financing, and other closing requirements.
A TRANSFORMATIVE, STRATEGIC MOVE
The divestment of the B2C segment is a transformative, strategic move for Aspire Global. First of all, the change in business mix will affect the revenue so that it will consist only of B2B revenues and, at the same time, the share of managed services will increase. The divestment will also provide Aspire Global with additional resources to further develop the technology platform as well as its offering in casino, sports and managed services. The managed services part of our business is essential to us, not only because it is recurring, but also because it will secure our continued deep knowledge about player behaviour. Furthermore, we expect that Aspire Global will have other peers as a focused B2B company and that investors will find it easier to value the company.
Following the divestment, we will also look into M&A possibilities with the aim to control even more of the value chain. Our successful acquisitions of Pariplay in 2019 and BtoBet in 2020 are proof of our ability to identify and integrate companies that complement our offering in the value chain. In the first nine months of 2021, Pariplay has grown by 79.4% to €21.7 million with an EBITDA margin of 27.9%. BtoBet has also demonstrated strong growth of 68.7% to €7.8 million in the nine-month period with an EBITDA margin of 23.1%.
KEY PROGRESS IN THE US AND BRAZIL
The B2C divestment also provides us with increasing opportunities to continue to invest in establishing a considerable position in above all the big and quickly growing Brazilian and US markets. In Q3 2021, we have made key progress in the US and Brazil. Pariplay signed a deal with FansUnite Entertainment, entailing that Aspire Global enters the Brazilian market for the first time. FansUnite is a Canadian sports and entertainment company, and Pariplay will supply its wide portfolio of proprietary and third-party content, via its Fusion Pariplay also further strengthened its position in Latin America by a deal with the world-famous land-based and online games provider Ainsworth Game Technology. The deal will see Ainsworth partnering exclusively with Pariplay for all new online releases in Latin America, with making its titles available to players through Pariplay’s Fusion Pariplay reached another milestone in its US expansion strategy during Q3 2021 after being granted a full iGaming Supplier License in West Virginia. Pariplay made its debut in the fast-growing US market when its content went live in New Jersey in February 2021 and Pariplay has applied for licenses in several states. DEEPER ESPORTS RELATIONSHIPS
We are also proud and happy with the relationship we have established with Esports Technologies. Esports Technologies is a leading global operator and provider of products and marketing solutions in the quickly growing esports market. Beside the B2C deal, we also signed a strategic license agreement with Esports Technologies in Q3 2021. As part of the deal, Esports Technologies will launch its esports/sportsbook Gogawi.com in certain key markets on our platform and intends to launch an additional brand on the platform in the future. In addition, we will make the Esports Technologies proprietary esports feed available to our partners around the world.
Esports Technologies are at a rapid growth phase and aim to become the world’s number one esports company. As part of the B2C agreement, Karamba and our other B2C brands will join our B2B network, and will become one of our biggest B2B partners. I’m sure that the experience and excellence of our B2C team, together with the ambition and investment of Esports Technologies, will take the brands to new heights.
PROFITABLE GROWTH IN REGULATED MARKETS
In the quarter, Germany introduced a new regulation with higher gaming duties. Despite this regulatory change, the EBITDA margin in the B2B segment increased to 18.7% from 18.0% in Q3 2020. This clearly demonstrates Aspire Global’s ability to manage a profitable operation in regulated markets. In October, the Netherlands opened for online gaming and Pariplay just a few days ago announced a deal to supply its proprietary games to Holland Casino. Holland Casino has a leading presence within the new regulated digital ecosystem in the Netherlands.
OUTLOOK
Aspire Global has consistently demonstrated its ability to execute its growth strategy, reaching its financial targets and create value. We see great growth opportunities by expanding with existing partners, gaining new partners and entering new markets. With the divestment of the B2C segment we will further enhance investments in our technology and product offering as well as geographic presence with focus on Brazil and the US. We will also put even more energy on increasing the M&A pipeline. We clearly execute our growth strategy to become a world leading iGaming supplier.
Tsachi Maimon, CEO.
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THE MONEYMAKER TOUR RETURNS TO HARD ROCK CINCINNATI WITH MORE THAN $1 MILLION UP FOR GRABS
Following a hugely successful first event in Cincinnati, Ohio in September 2023, the Moneymaker Tour is returning to the Hard Rock Casino Cincinnati on September 17 – 30, 2024 with a packed schedule that will guarantee more than $1 million across 15 trophy events.
In September 2023’s inaugural stop at Hard Rock Cincinnati, the $1,500 Main Event was contested by 788 players and won by Joseph Bakun for $208,034. He was joined at the final table by Chris Moneymaker himself and WSOP Champion Joseph McKeehen and as well as the top cash prize, he also took home a crystal Moneymaker Tour trophy and a guitar trophy.
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The Tour has also recently announced new venues including a first visit to the birthplace of the Moneymaker boom with an event in Las Vegas from June 28 – July 6 at MGM Grand and its first international Main Event at Casino Aruba in October.
“Hard Rock Casino Cincinnati will team up with the Moneymaker Tour for a return in 2024” said Christopher Herbert, Hard Rock Cincinnati Manger of Poker & Sportsbook. “Hard Rock Cincinnati is grateful to be a part of the fastest growing poker tour in 2023. Chris Moneymaker, Tony Burns and their staff delivered an incredible experience for our guests during the 2023 Moneymaker Tour stop. There’s no better place to be in September 2024 than Cincinnati Ohio!”
“After an amazing series last September, we are excited to return to Hard Rock Casino Cincinnati”, said Tony Burns, Executive Manager of the Moneymaker Tour. “Continuing to partner with one of the most recognisable brands in the world amplifies our reach, resonates with our audience, and rocks our business to a whole other level.”
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Week 20/2024 slot games releases
Here are this weeks latest slots releases compiled by European Gaming
ELA Games is thrilled to announce the release of its latest slot machine game, Big Wave Delight. This new game features an advanced design, original mechanics, and a unique “Bonus Purchase” feature, setting a new standard in the gaming industry. Players can also hit the waves with Free Spins, scoring 10 thrilling spins with random multipliers (up to 10x) on each whirl. With up to 3 Wild Surfboards on every spin, players can expect epic wins!
Habanero, invites players for an icy adventure in its new title Arctic Hunt, offering expanding wilds with multipliers of up to 50x. Set against a snowy forest, this 5×3 game hosts a variety of wildlife such as fish, rabbits, deer and beavers as its symbols. Arctic foxes can also appear as wilds and substitute other icons to help form wins. Regular symbols can land with crystal gems attached which are accumulated in a counter at the top of the board.
Yggdrasil has released Boomerang Games’ (under license to ReelPlay) newest game Goblin’s Bargain MultiMax™, a vault packed with features ready to tempt those looking for the biggest of wins. The glittering gold belonging to the nefarious mythical creatures is under lock and key unless players can make the most of MultiMax. The popular Game Engagement Mechanic (GEM) sees a multiplier build up on each reel which can be multiplied together, leading to exponentially large wins.
R. Franco Digital is inviting players to double their winnings in its latest mythical-themed release, Game of Chronos Unicorn. Immersing players in a fantasy universe, a 5×3 grid is filled with a host of mythical symbols which create matching combinations across the slot’s 40 paylines. Helping to form wins are Witch wilds, which substitute other symbols on the board, while three or more unicorn Scatters pay out an instant reward.
Play’n GO pits Woodrow and Jačova against one another in a race against bolts in Spark of Genius. In this dynamic 6×6 grid slot, players are transported to the dawn of the 20th century, where the clash between industry pioneers Maynard Woodrow and Tess Jačova ignites. Players will harness the power of Resonant Energy and Manifest Energy as these characters vie for dominance over the grid.
Spinomenal has unveiled its hotly anticipated game, Quest to the Underworld. This game is part of the popular Spinomenal Adventure series. Quest to the Underworld lures players in with its macabre setting that’s underscored with a chilling soundtrack. Medium symbols are made up of a vial, crossbow, goblet, and scroll. Two Wild symbols, a glamorous lady and black gear, will substitute for any symbol except the Free Spins and Bonus symbols, hitting five Wild symbols on a winning line gives players a x1000 multiplier.
Yggdrasil and YGG Masters partner Bang Bang Games have combined to deliver thrilling gameplay in toxic new release Mutant Trawlers. Players must navigate a contaminated nuclear lake to fish up wins worth a maximum of 3,000x by way of Trawler Respins, Mutant Cash and Meltdown Free Spins. Trawler respins can be triggered whenever a boat lands on the same reel as a Mutant Cash symbol, automatically igniting a chain of respins where multipliers increase after every successful spin.
Wizard Games is ready to deliver magic and mystery in its enchanted new release, Wynmor’s Tales – The Rise. Players are faced with a 5×4 matrix, situated within an eerie mansion, looking to land mystic items across the slots 40 paylines. If a spellbook lands on the fifth reel, then all Cash Symbols are collected, paying out magical rewards.
Games Global’s exclusive studio OROS Gaming, has unveiled Magnificent Power Wolf Fire Spirit™, its latest slot utilising the popular Magnificent Power mechanic that promises captivating gameplay and 4,096 ways to win on a 5×4 grid. Adorned with bear, eagle and dreamcatcher symbols, this Native American-inspired slot immerses players with every spin of the expanding reels, providing ample opportunity to discover the hidden riches with two or more adjacent high-paying symbols awarding a win.
The post Week 20/2024 slot games releases appeared first on European Gaming Industry News.
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Šimon Vincze, a staunch advocate for responsible gambling, leads Casino Guru’s efforts in sustainable and safer gambling. He spearheads the Global Self-Exclusion Initiative, driving forward best practices in player protection and operator responsibility. Recognizing gaps in existing tools, Šimon is committed to ensuring a safer gambling environment for all.
The post Casino Guru Launches “Safer Gambling Talks” Webinar Series with Šimon Vincze appeared first on European Gaming Industry News.
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