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Aspire Global: Interim Report Fourth Quarter 2021

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Record High Revenues of €213 Million in 2021

FOURTH QUARTER*

·        Revenues increased by 14.7% to €50.9 million (44.4).

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·        Revenues Pro-Forma basis increased by 24.0% to €42.6 million (34.4).

·        EBITDA decreased by 9.1 % to €7.5 million (8.3).

·        EBITDA Pro-Forma basis increased by 24.0% to €7.7 million (6.2).

·        The EBITDA margin amounted to 14.8% (18.6%).

·        EBITDA margin Pro-Forma basis amounted to 18.1% (18.1%)

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·        EBIT decreased by 18.7% to €5.1 million (6.3).

·        EBIT Pro-Forma basis increased by 25.1% to €5.3 million (4.3).

·        Earnings after tax (before €59.7 million net capital gain on B2C divestment) increased by 38.9% to €4.2 million (3.1).

·        Earnings per share amounted to €0.09 (0.07) and €1.37 incl. capital gain from divestment of the B2C segment.

FULL YEAR*

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·        Revenues increased by 31.8% to €213.3 million (161.9).

·        Revenues Pro-Forma basis increased by 31.9% to €166.5 million (126.2).

·        EBITDA increased by 29.2% to €35.0 million (27.1).

·        EBITDA Pro-Forma basis increased by 45.2% to €30.4 million (20.9).

·        The EBITDA margin amounted to 16.4% (16.7%).

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·        EBITDA margin Pro-Forma basis amounted to 18.2% (16.6%)

·        EBIT increased by 26.2% to €26.3 million (20.8).

·        EBIT Pro-Forma basis increased by 47.7% to €21.6 million (14.7).

·        Earnings after tax (before €59.7 million net capital gain on B2C divestment) increased 72.0% to €22.6 million (13.1).

·        Earnings per share increased 64.3% to €0.49 (0.28) and €1.77 incl. capital gain from divestment of B2C segment.

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*B2C as continued operations and based on net royalties in December 2021. Pro-Forma basis of B2C based on net royalties for the presented period and a specification is found on page 8 in the report.

SIGNIFICANT EVENTS IN THE QUARTER

·        Aspire Global divested its B2C segment effective on 1 December, 2021.

·        Further expansion in the US by Pariplay’s deal with BetMGM, the leading US online casino operator.

·        Strengthened position in Latin America through BtoBet’s deal with FanDuel, part of Flutter Entertainment, to provide its PAM for Daily Fantasy Sports in Brazil. Pariplay signed deal to supply its proprietary games to Holland Casino in the Netherlands. BtoBet signed deal with BestBet24 to provide its sports platform in Poland.

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·        Agreement to acquire 25% of bingo supplier END 2 END with option to acquire all shares.

·        The Board of Directors proposes that no dividend is paid for the financial year 2021.

SIGNIFICANT EVENTS AFTER THE END OF THE QUARTER

·        On 17 January 2022, a public tender offer was made by NeoGames to the shareholders of Aspire Global to tender all their shares in the Company to NeoGames for a consideration consisting of a combination of cash and newly issued shares in NeoGames in the form of Swedish depository receipts. The shares in NeoGames are admitted to trading in the US on the Nasdaq Stock Exchange, Global Market tier. Aspire Global’s main shareholders, who in aggregate own shares corresponding to 66.96% of all shares and votes in Aspire Global, have entered into irrevocable undertakings that enable the other shareholders in Aspire Global to tender their shares to NeoGames and receive 100% cash consideration corresponding to SEK 111.00 per share tendered in Aspire Global representing a premium of 41.40% compared to the closing price 17 January 2022 of SEK 78.50 for Aspire Global’s share. The Bid Committee of Aspire Global unanimously recommends the shareholders of Aspire Global to accept the full cash consideration alternative of SEK 111.00 per Aspire Global share.

 

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CEO COMMENTS

“WE HAVE SUCCESSFULLY DELIVERED ON OUR GROWTH STRATEGY AND EXCEEDED OUR FINANCIAL TARGETS”

Aspire Global has made an amazing journey in recent years with substantial organic growth supplemented by value creating acquisitions. NeoGames’ bid of SEK 111 per share means that our share has increased by 270% since the introduction on Nasdaq First North Growth Market in July 2017. The offer by NeoGames, a technology-driven provider of end-to-end iLottery solutions, is a natural step for Aspire Global and a strategic fit.

Aspire Global’s entire operations will form a new iGaming division within NeoGames. The objective of the combination is to generate significant long-term value for both sets of shareholders, by creating synergies and capitalizing on the key strengths of our two companies and positioning them both for expansion in new and existing markets.

We believe that the irrevocable commitment by a significant portion of our shareholders to elect to receive the entirety of the equity component of the deal, subject to proration, suggests strong conviction in the future of the two companies. Not only is this a strategic fit, it is also a strong cultural fit, as significant parts of both management teams worked together extensively during NeoGames’ inception.

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RECORD HIGH B2B PERFORMANCE

By the divestment of our B2C segment 1 December 2021, we made additional significant strategic move to become a clearly focused B2B company. By this streamlining of the business, we not only become stronger but also more profitable. During the year, excluding the B2C segment, revenues increased by 31.5% to €158.3 million and EBITDA increased by 45.2% to €30.4 million in 2021 with an EBITDA margin of 19.2%. B2B organic revenue growth in 2021 amounted to 26.6%. These are record high numbers that we are proud of and they reflect the professionalism, drive and commitment of the Aspire Global team. It is also with satisfaction that I can note that we have well exceeded our financial targets for 2021.

We had a strong development during all quarters in 2021 and revenues, excluding B2C, increased 24.4% in Q4. The numbers in Q4 2021 were impacted negatively by new regulations in certain European countries as well as unusually favourable player results in Sports during October, while the inclusion of the divested B2C brands on a “net royalties” basis in December 2021 had a positive impact.

GERMAN AND DUTCH PLATFORM DEALS

We have recently made significant progress in the execution of our growth strategy by adding new tier 1-operators to our customer base and entering new regulated markets. Our turnkey platform deals with ITPS for Germany and BoyleSports for the Netherlands clearly shows the recognition we have in supplying our platform in regulated markets to tier 1-operators. Both Germany and the Netherlands are expected to become very big iGaming markets with a large growth potential.

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At the end of 2021, we completed the migration of all major partner brands to BtoBet’s proprietary sportsbook platform and we could phase out our previous third-party supplier. The rapid execution of the migration is an important proof of Aspire Global’s strong technological, managerial and operational skills.

PARIPLAY – KEY PROGRESS IN NORTH AMERICA

Pariplay, the leading content and aggregator provider, shows over and over again its strengths by delivering successfully on its growth strategy. By striking important deals in North America, we are on our way to establish ourselves as a key iGaming supplier in this fast-growing market. Pariplay is now certified in Michigan, New Jersey and West Virginia and has signed deals for all three states with leading US operator Golden Nugget Online Gaming and the top-three US online casino operator BetMGM. Through the collaboration with NeoPollard Interactive, Pariplay will enter the Canadian market after signing a deal to offer its content on Play Alberta, the province’s only regulated online gambling site.

In Q4 2021, Pariplay extended its successful partnership with Rush Street Interactive (RSI) and launched its proprietary games with RSI in Colombia. Pariplay also signed a deal to supply its proprietary games to Holland Casino, the biggest Dutch operator.

BTOBET STRIKES FURTHER DEAL WITH FLUTTER

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BtoBet, our proprietary sportsbook, has recently been awarded certification in Denmark and the Netherlands. After having received Dutch certification for not only the sportsbook and games but also the platform, we will now provide our complete offering in the Netherlands. In Denmark, we add sports to our present casino offering.

In Q4 2021, BtoBet entered Poland by a deal with Warsaw-based BestBet24. BtoBet will provide BestBet24 its sportsbook platform for both retail and online channels. BtoBet has also extended its collaboration with Flutter Entertainment by providing FanDuel its cutting-edge PAM platform as the operator enters the Brazilian market with its Daily Fantasy Sports (DFS) offering.

ENHANCING OFFERING WITH BINGO

In December 2021, we took an important step in our strategy to control the entire B2B value chain by acquiring a minority share of the bingo supplier END 2 END with an option to acquire all the shares. END 2 END and its certified bingo product provides us with access to a real omni channel technology and a proprietary offering in one of the biggest verticals in the iGaming industry. Bingo is especially important in regulated markets where operators request the opportunity to offer more than one vertical. We are very satisfied with END 2 END’s performance and the opportunities we have identified so far.

THE AMAZING ASPIRE GLOBAL TEAM

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During 2021, we increased investments in the further development of our team’s skills by introducing an advanced leadership program. It will be exciting to follow the development of our leaders and how the program can contribute to even higher motivation and creativity.

I would like to take this opportunity to thank everyone on the Aspire Global team for their fantastic efforts in 2021. It is also good that we will keep the relationship with our great Karamba team, who constituted the B2C segment, as they continue as one of our major partners.

OUTLOOK

Aspire Global is today a focused B2B company with a leading offering in the iGaming industry. We have over the past years made significant progress in building a strong position and adding tier 1-operators to our partner base, not at least after the value creating acquisitions of BtoBet and Pariplay. We are now looking forward to the next step in our journey and I am very excited by the opportunities the combination of Aspire Global and NeoGames offers.

Tsachi Maimon, CEO

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Industry Awards

Soft2Bet’s Quickcasino Wins at EGR Europe Awards 2025

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Soft2Bet’s Quickcasino has been awarded “The Nordics and Baltics – Rising Star” at the prestigious EGR Europe Awards, reinforcing its status as one of the region’s most innovative and fast-growing online gaming brands.

This recognition is a testament to Soft2Bet’s commitment to market-leading technology, data-driven gamification, and player-first experiences. By combining cutting-edge mechanics with a highly localised approach, Quickcasino has established itself as a force in Sweden’s competitive iGaming landscape.

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A Market Leader in Innovation and Gamification

Quickcasino.se has redefined the Nordic and Baltic iGaming experience, blending seamless UX, high-speed transactions, and a unique gamification ecosystem to keep players engaged. Powered by Soft2Bet’s proprietary MEGA (Motivational Engineering Gamification Application) solution, the platform delivers dynamic challenges, real-time progression, and personalised incentives, creating an experience that is both immersive and rewarding.

Beyond gamification, Quickcasino’s commitment to top-tier security, lightning-fast payments, and market-driven customisation has resonated strongly with Swedish players. Its ability to merge high-performance technology with a player-centric approach, via MEGA, has driven remarkable growth, reinforcing its status as a market leader.

Uri Poliavich, Founder and CEO of Soft2Bet, commented: “Receiving European recognition from one of the leading industry awards is a proud moment for Quickcasino and Soft2Bet. This achievement not only recognises Quickcasino’s rapid success but also highlights how our B2C experience acts as a proof of concept for B2B partners. As we investigate new ways to enhance our offerings, the results we achieve with our brands showcase the power of our technology and help operators elevate player engagement, retention, and performance in highly competitive markets. This award reinforces our ability to drive success for our brands and partners.”

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A Future Focused on Growth and Innovation

Quickcasino’s latest accolade adds to Soft2Bet’s growing list of industry recognitions. Looking ahead to 2025, the company is preparing for major market expansions, new strategic partnerships, and continuous advancements in gamification technology. With innovation at its core, Soft2Bet remains committed to pushing boundaries and delivering industry-leading solutions that shape the future of iGaming.

The post Soft2Bet’s Quickcasino Wins at EGR Europe Awards 2025 appeared first on European Gaming Industry News.

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Baltics

The Lithuanian Gaming Control Authority (LPT) has completed its inspection: Olympic Casino has been fined almost 8.4 million euros

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The company Olympic Casino Group Baltija (OCGB) did not take sufficient steps to identify the origin of Šarūnas Stepukonis’ losing funds, and the monitoring of his financial transactions was only formal and ineffective. Such violations were identified by the Gaming Supervisory Authority, which conducted an inspection of OCGB’s activities in Lithuania. The company was fined almost 8.4 million euros.

The Gaming Supervisory Authority (LPT) investigated the actions taken by OCGB in response to Š. Stepukonis’ transactions on the company’s gaming website from December 2016 to the end of June 2021. The law obliges gaming operators to ensure that customer funds are not obtained from criminal activities or through participation in such activities. It is also mandatory to verify the origin of the funds. LPT found that the measures applied by OCGB were poor and insufficient, and the monitoring of Š. Stepukonis’ transactions was formal.

Gambling organizers must report suspicious transactions to the FNTT. Š. Stepukonis’ transactions had obvious signs that should have raised suspicions for the gambling organizer. However, the FNTT was not informed about this.

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During the inspection, evidence was also collected that Š. Stepukonis’ gambling was irresponsible. The gambling company should have noticed this, especially since the client was assigned a personal manager who saw all of his transactions.

“Instead of finding out whether Š. Stepukonis had a gambling problem or informing the supervisory authority, Olympic Casino encouraged him to gamble even more. An individual incentive package was prepared for him. A total of 1.3 million euros was allocated for this. This “bonus” could only be spent on gambling. Other incentives were also allocated,” – comments on the results of the inspection by LPT Director Virginijus Daukšys.

Since mid-2021, gambling companies in Lithuania have no longer been allowed to offer incentives to their customers that they would later lose. Just before this tightening came into effect, Š. Stepukonis’ virtual gambling was moved from Lithuania to Estonia, where it was still allowed to encourage gamblers.

In this way, it was possible not only to maintain incentives for gambling, but also to avoid supervision by the LPT. If an ordinary gambler from Lithuania tried to go and register on the Estonian Olympic Casino website, he would be redirected to the Lithuanian website. However, in the case of Š. Stepukonis, the redirection was not carried out. These circumstances are part of the pre-trial investigation.

During the inspection, a total of five violations of the provisions of the Law on the Prevention of Money Laundering and Financing of Terrorism and the Law on Gambling were identified.

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The law allows for a fine of up to twice the amount of damage caused. The damage was determined to be 6.4 million euros – the amount Š. Stepukonis lost at the Olympic Casino in Lithuania. When calculating the fine, an aggravating circumstance was taken into account – the company did not cooperate during the inspection.

According to V. Daukšys, after this story came to light, steps were taken to prevent similar cases from recurring. The most important change is the law, proposed by the LPT, which obliges gambling companies to take action upon noticing irresponsible gambling and to provide information about it to the LPT.

“Until now, there was no such obligation. Therefore, the LPT did not have information that would allow it to take preventive actions in advance,” says V. Daukšys.

The new Gambling Law will come into force in November this year. Its aim is to reduce the accessibility, attractiveness and potential harm to personal health of gambling.

LPT also reviewed its procedures, adjusted internal procedures, allowing for more frequent scheduled inspections of the activities of gambling companies. In addition, the Ministry of Finance conducted an audit of LPT’s activities. No significant operational deficiencies were identified during the audit. LPT took into account the audit recommendations and allocated more human resources to money laundering prevention functions.

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Source: Gambling Supervisory Authority under the Ministry of Finance of the Republic of Lithuania

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Conferences in Europe

Forging Strong Partnerships: SYNOT Games on Market Growth & Client Success

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HIPTHER, organizer of the Prague Gaming & TECH Summit 2025, is proud to present SYNOT Games, our Lanyards Sponsor, and a leading force in the iGaming industry. SYNOT Games has built a reputation for innovative, high-quality slot content, boasting a portfolio of 180+ certified games and “unleashing digital delights” across over 40 jurisdictions.

In this exclusive Sponsors Spotlight interview, we sit down with Dagmar Cvrckova, Head of Strategic Partnership, to discuss their expansion across global markets, business-oriented approach to clients, and what’s next for their growing portfolio.

 

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SYNOT Games has successfully expanded into multiple regulated jurisdictions, from Europe to emerging markets. What factors drive your decision-making when entering new territories, and what challenges do you see in the current regulatory landscape?

Our expansion strategy rests on three core pillars: market potential, regulatory stability, and demand for unique content we develop. Before entering a new jurisdiction, we conduct comprehensive research to assess the player base, competitive landscape, regulatory requirements and operator demands.

Navigating compliance is one of the biggest challenges in the iGaming industry, as regulations are constantly evolving and changing. We take proactive steps by working closely with regulators, ensuring our games meet all certification standards, and staying ahead of legal changes. This approach ensures robust compliance and keeps us well positioned to capitalize on emerging opportunities in new markets.


With a portfolio of over 180 certified games, how does SYNOT adapt its content to meet the preferences of diverse player demographics across various regions?

Player preferences vary widely across regions, and our game development strategy is deeply rooted in data-driven decision-making. For example, while European players often favor classic slot mechanics and high-volatility games, Latin American markets prefer vibrant themes and engaging bonus features.

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We analyze player behavior, session data, and engagement rates to fine-tune our content. Our localization goes well beyond language translation; it encompasses a complete adaptation of the gaming experience, including themes, payout structures, and bonus mechanics – to align with regional trends. But we’re not afraid to experiment either.

This approach allows us to deliver games that resonate with a global audience while staying true to the distinctive SYNOT Games style.


Strategic partnerships are a key focus for SYNOT Games. How do you approach collaborations with operators to ensure mutual success and long-term growth?

Strong and strategic partnerships are built on flexibility, customization, and shared goals. We don’t believe in a one-size-fits-all model. Instead, we work closely with our partners to deliver customized offerings – including exclusive games and tailored promotional tools – that drive player engagement and retention.

The key to our success is our ability to adapt, whether through customized game offerings, innovation, marketing support or technical solutions. This collaborative approach ensures sustainable growth for both parties.

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SYNOT Games prides itself on “unleashing digital delights”: delivering original content adaptable to any operation configuration and needs.  How do you balance innovation with maintaining a consistent and engaging player experience?

Innovation is at the heart of everything we do, but our approach is always player-first. We continuously experiment with new mechanics, themes, and features, but we also maintain the core elements that players love – intuitive gameplay, engaging graphics, and rewarding experiences. However, it is essential to strike a balance between innovations and solutions that are both effective and engaging for players, whether they are directly part of the games or retention tools.

The PEAK (Player Engagement & Acquisition Kit) is a prime example of a powerful retention tool that unlocks exciting new reward options and simplifies promotion management. It allows operators to set promotions according to their needs. And the best part? We’re continuously enhancing it with new features to keep engagement at its peak.

Of course, every innovation must be developed with a deep understanding of the regulatory landscape, ensuring compliance while delivering an exceptional gaming experience across different markets.

 

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As a Lanyards Sponsor and key participant in this year’s Summit, what insights will SYNOT Games bring to the discussion, and what makes this event an essential platform for industry collaboration?

Innovation is at the heart of everything we do, but our approach is always player-first. We continuously experiment with new mechanics, themes, and features, but we also maintain the core elements that players love – intuitive gameplay, engaging graphics, and rewarding experiences. However, it is essential to strike a balance between innovations and solutions that are both effective and engaging for players, whether they are directly part of the games or retention tools.

The PEAK (Player Engagement & Acquisition Kit) is a prime example of a powerful retention tool that unlocks exciting new reward options and simplifies promotion management. It allows operators to set promotions according to their needs. And the best part? We’re continuously enhancing it with new features to keep engagement at its peak.

Of course, every innovation must be developed with a deep understanding of the regulatory landscape, ensuring compliance while delivering an exceptional gaming experience across different markets.

 

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With SYNOT Games leading the way in market expansion and client partnerships, the Prague Gaming & TECH Summit 2025 is set to offer exclusive insights into the evolving iGaming landscape. Don’t miss the chance to connect with top industry professionals, explore the latest trends, and engage in thought-provoking discussions.

Join us on 25-26 March 2025 in Prague – Register now and explore the full agenda!

 

The post Forging Strong Partnerships: SYNOT Games on Market Growth & Client Success appeared first on European Gaming Industry News.

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