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Sportradar Reports Strong Growth in Fourth Quarter and Full Year 2021

Published

4 years ago

March 30, 2022

Reading Time: 8 minutes

Fourth quarter revenue grew 41% while full year 2021 revenue grew 39%, exceeding Company’s outlook
Annual revenue surpasses €500 million for the first time in Company’s history
Company projects solid annual revenue growth of 18% to 25% in fiscal 2022
Secured multiyear partnerships with NHL, NBA, ITF, ICC, UEFA, Bundesliga

Sportradar Group AG, a leading global technology company enabling next generation engagement in sports, and the number one provider of business-to-business solutions to the global sports betting industry, today announced financial results for its fourth quarter and full year ended December 31, 2021.

Full Year 2021 Highlights and Annual Outlook

Revenue for the full year of 2021 increased 39% to €561.2 million ($634.2 million)¹ compared with the prior year, driven by strong growth across all business segments. Full year revenue exceeded the top end of the Company’s 2021 annual outlook range of €553 – €555 million.
Adjusted EBITDA² for the full year of 2021 increased 33% to €102.0 million ($115.3 million)¹ compared with the prior year. Full year Adjusted EBITDA exceeded the top end of the Company’s 2021 annual outlook range of €99.5 – €101.5 million.
Adjusted EBITDA² for 2021 excluding Sportradar’s September 2021 Initial Public Offering (IPO) costs was €113.7 million ($128.5 million)¹.
Adjusted EBITDA margin² for 2021 was 18% compared with 19% for 2020. Excluding IPO costs, Adjusted EBITDA margin was 20% for 2021.
Strong Dollar-Based Net Retention Rate² increased to 125% for fiscal 2021 compared with 113% for fiscal 2020 highlighting the continued success of the Company’s cross-sell and upsell strategy across its global customer base.
Cash and cash equivalents totaled €742.8 million as of December 31, 2021. Total liquidity available for use at December 31, 2021, including undrawn credit facilities was €852.8 million.
Sportradar extended multiyear partnerships with the National Hockey League (NHL), National Basketball Association (NBA), International Tennis Federation (ITF) and Bundesliga International, in addition to securing new deals with the International Cricket Council (ICC) and the Union of European Football Associations (UEFA). These deals reinforce Sportradar’s leadership as a trusted technology and data partner to the biggest leagues and federations around the world.
The Company provided an annual outlook for full-year 2022 for revenue and Adjusted EBITDA². Revenue is expected to be in the range of €665.0 million to €700.0 million and Adjusted EBITDA² is expected to be in the range of €123.0 million to €133.0 million. Please see the “Annual Financial Outlook” section of this press release for further details.

Fourth Quarter 2021 Highlights

Revenue in the fourth quarter of 2021 increased 41% to €152.4 million ($172.2 million)¹ compared with the fourth quarter of 2020, driven by robust growth across all business segments.
Continued strong performance in the U.S. market with U.S. revenue increasing by 92% to €23.2 million ($26.2 million)¹ compared with the fourth quarter of 2020.
Adjusted EBITDA² in the fourth quarter of 2021 increased 14.0% to €21.4 million ($24.2 million)¹ compared with the fourth quarter of 2020.
Adjusted EBITDA margin² was 14% in the fourth quarter of 2021, compared with 17% over the prior year primarily as a result of increased investment in content and technology, higher costs related to being a public company, as well as higher M&A costs.
Adjusted Free Cash Flow² in the fourth quarter of 2021 decreased to (€22.5) million which resulted in a cash flow conversion² of (105.1%) primarily as a result of additional interest from the Company’s senior secured term loan facility originating in November 2020, timing of sports data licensing payments to leagues, IPO related payments as well as higher costs associated with being a public company.

________________________
¹ _{For the convenience of the reader, we have translated Euros amounts in the tables below at the noon buying rate of the Federal Reserve Bank of New York on December 30, 2021, which was €1.00 to $1.13.}
² _{Non-IFRS financial measure; see “Non-IFRS Financial Measures and Operating Metrics” and accompanying tables for further explanations and reconciliations of non-IFRS measures to IFRS measures.}

Key Financial Measures

In millions, in Euros €	Q4	Q4	Change	FY	FY	Change
	2021	2020 %		2021	2020 %

Revenue	152.4	108.0	41%	561.2	404.9	39%

Adjusted EBITDA²	21.4	18.8	14%	102.0	76.9	33%

Adjusted EBITDA margin²	14.0%	17.4%	–	18.2%	19.0%	–

Adjusted Free Cash Flow²	(22.5)	7.1	–	14.5	53.5	(73%)

Cash Flow Conversion²	(105.1%)	37.5%	–	14.3%	69.6%	–

Carsten Koerl, Chief Executive Officer of Sportradar said: “I am very pleased with our strong results, which illustrate how well we are delivering on our operational and growth plans. Importantly, we have good momentum going into our next fiscal year. We are continuing to invest in content, technology and people that will allow us to deliver profitable growth in line with our goals.

Koerl continued, “We are particularly pleased about more than doubling our year-over-year revenues in the United States, which continues its explosive sports betting growth story. Sportradar has been a leader in this market since 2014, and we’re now seeing the results of our early investment. We continue to see the enormous opportunity as sports betting becomes an increasingly integral part of the media entertainment fabric in the U.S.

Segment Information

RoW Betting

Segment revenue in the fourth quarter of 2021 increased by 30% to €82.2 million compared with the fourth quarter of 2020. This growth was driven primarily by uptake in our higher value-add offerings including Managed Betting Services (MBS) and Live Odds Services, which increased by 74% and 26% respectively. MBS experienced record turnover³ and Live Odds grew as a result of higher volume of sports coverage.
Segment Adjusted EBITDA² in the fourth quarter of 2021 increased by 58% to €45.7 million compared with the fourth quarter of 2020. Segment Adjusted EBITDA margin² improved to 56% from 46% compared with the fourth quarter of 2020 driven by growth in higher margin products.
Full year 2021 revenue grew 32% to €309.4 million compared with the prior year of 2020. Full year Adjusted EBITDA² increased 49% to €177.0 million. Full year 2021 Adjusted EBITDA margin² improved to 57% from 51% in the prior year.

¹ _{For the convenience of the reader, we have translated Euros amounts in the tables below at the noon buying rate of the Federal Reserve Bank of New York on December 30, 2021, which was €1.00 to $1.13.}
² _{Non-IFRS financial measure; see “Non-IFRS Financial Measures and Operating Metrics” and accompanying tables for further explanations and reconciliations of non-IFRS measures to IFRS measures.}
³ _{Turnover is the total amount of stakes placed and accepted in betting.}

RoW Audiovisual (AV)

Segment revenue increased in the fourth quarter of 2021 by 52% to €35.6 million compared with the fourth quarter of 2020. This growth was primarily a result of increased volume of streaming services across all major sports.
Segment Adjusted EBITDA² in the fourth quarter of 2021 increased by 77% to €9.9 million compared with the fourth quarter of 2020. Segment Adjusted EBITDA margin² improved to 28% from 24% compared with the fourth quarter of 2020.
Full year 2021 revenue grew 32% to €140.2 million compared with the prior year of 2020. Full year Adjusted EBITDA² increased 47% to €39.2 million. Full year 2021 Adjusted EBITDA margin² improved to 28% from 25% in the prior year.

United States

Segment revenue in the fourth quarter of 2021 increased by 92% to €23.2 million compared with the fourth quarter of 2020. This growth was driven by our increased sales of U.S. Betting services as the underlying market and turnover³ grew. We also experienced strong adoption of our ad:s product, growth in U.S. Media and a positive impact from the acquisition of Synergy Sports.
Segment Adjusted EBITDA² in the fourth quarter of 2021 decreased to (€7.6) million compared with the fourth quarter of 2020 primarily due to increased investment in the Company’s league and team solutions focused business. Segment Adjusted EBITDA margin² decreased to (33%) from 11% compared with the fourth quarter of 2020 reflecting the aforementioned increased investment.
Full year 2021 revenue grew 108% to €71.7 million compared with the prior year of 2020. Full year Adjusted EBITDA² decreased 38% to (€22.6) million. Full year 2021 Adjusted EBITDA margin² improved to (32%) from (48%) in the prior year.

Costs and Expenses

Personnel expenses in the fourth quarter of 2021 increased by €12.7 million to €47.0 million compared with the fourth quarter of 2020 primarily resulting from additional hires in the Company’s product and technology organizations (2,959 FTE in the fourth quarter of 2021 vs 2,366 FTE in the fourth quarter of 2020).
Other Operating expenses in the fourth quarter of 2021 increased by €13.3 million to €27.2 million compared with the fourth quarter of 2020 mainly driven by higher travel and entertainment and marketing costs as pandemic restrictions eased, higher M&A costs as well as increased costs to implement a new enterprise resource planning (ERP) system.
Total Sport rights costs in the fourth quarter of 2021 increased by €8.8 million to €38.5 million compared with the fourth quarter of 2020, primarily resulting from a normalized schedule in sports such as NBA, NHL and MLB, as COVID-19 pandemic restrictions eased.

² _{Non-IFRS financial measure; see “Non-IFRS Financial Measures and Operating Metrics” and accompanying tables for further explanations and reconciliations of non-IFRS measures to IFRS measures.}
³ _{Turnover is the total amount of stakes placed and accepted in betting.}

Fourth Quarter Business Highlights

Sportradar and the NBA announced an expansive multiyear partnership agreement that will see the NBA, Women’s National Basketball Association (WNBA) and NBA G League use Sportradar’s global and wide-ranging capabilities to grow U.S. operations, increase their international footprint and drive fan engagement. This new partnership begins with the 2023-24 NBA season and provides the NBA with an equity stake in Sportradar.
The Company extended its long-term partnership with Bundesliga International, a subsidiary of DFL Deutsche Fußball Liga, featuring a suite of AI-driven fan engagement tools which enable Genrmany’s top football league to better engage fans.
Sportradar also extended its partnership with Kambi, a leading global sports betting supplier. The deal reestablishes Sportradar as Kambi’s exclusive supplier of NBA, NHL, MLB, and college sports data in the US market.
Sportradar announced a new multi-year partnership with PointsBet, a premier global online gambling operator, that establishes Sportradar as PointsBet’s US supplier of choice for MLB, NBA, NHL, college football, and college basketball data.
Sportradar announced a partnership with UEFA’s as their exclusive authorized collector and distributor of data for betting purposes, as well as extending its role as UEFA’s official integrity partner. The Company secured this landmark agreement following UEFA’s first competitive tender process for its data distribution rights for betting purposes.
The Company strengthened its existing partnership with ITF with a three-year extension to serve as the ITF’s official data partner.
Sportradar was selected by the ICC making Sportradar its Official Data Distribution and Official Betting Live Streaming Partner. The partnership will create more opportunities for the ICC to engage with its fan base through Sportradar’s network of 1,000 media and sports-betting clients across 80 countries.
The Company underlined its commitment to protecting the integrity of sport with the launch of Universal Fraud Detection System (UFDS) free of charge. Sportradar Integrity services has utilized UFDS, to detect suspicious activity in 12 sports across more than 70 countries. Sportradar will begin delivering its UFDS bet monitoring service free of charge, to sports federations, sports leagues, and state authorities around the world, in its continued commitment to protecting the integrity of global sport and making the system accessible to all.
Sportradar announced significant high-profile hires to further strengthen its US team, including Andrew Bimson as North American Chief Operating Officer, Jim Brown as Head of Integrity Services & Harm Prevention and Rima Hyder as Head of Investor Relations.

Annual Financial Outlook

Sportradar is providing its outlook for fiscal 2022.

Revenue is expected to be in the range of €665.0 million to €700.0 million ($752.0 million to $791.0 million)¹, representing growth of 18% to 25% over fiscal 2021.
Adjusted EBITDA² is expected to be in the range of €123.0 million to €133.0 million ($139.0 million to $150.0 million) ¹, representing growth of 21% to 30% over fiscal 2021.
Adjusted EBITDA margin² is expected to be in the range of 18.5% to 19.0%, an improvement over the prior year.

iGP

TaDa Gaming Announces New Partnership with iGP

Published

29 minutes ago

May 11, 2026

Wladimir P.

tada-gaming-announces-new-partnership-with-igp

TaDa Gaming has announced a new partnership with full service B2B iGaming technology provider, iGP.

The new deal will enable more players in multiple European facing markets to access TaDa’s award-winning casino content, including latest release 3 Lightning Blitz, part of its “triple pots” Triluck slots series.

With a portfolio comprising 230+ titles across genres, four new releases added monthly and an award-winning suite of gamification tools, TaDa’s brand is well-known for its innovative approach, especially through its unique, multiplayer fish-shooting games.

Founded in 2016 and headquartered in Malta, iGP has built a reputation for turnkey platform solutions, game aggregation and enterprise lottery. It recently introduced VIBE (Value Incentive Bonus Engine), its all-in-one-place loyalty and retention tool.

iGP is purely a B2B provider ensuring full alignment with operator partners. GLI-19 certified, the platform is built on modern architecture designed to enable a clear focus on delivering operator control and growth, fast market entry, scalable infrastructure and real-time data intelligence across markets.

Ray Lee, Director of Business Development at TaDa Gaming, said: “TaDa’s successful growth has come through strategic partnerships with a wide network of proven operators alongside our expertly localised and immersive content. Choosing the right partner fit is critical and we are delighted to have found that in iGP. We look forward to working together.”

Jovana Popovic Canaki, CEO of iGP, said: “iGP’s evolution in iGaming continues and through partnerships like this, we can expand the offer to match industry and operator needs. TaDa’s individual style and proven performance more than align with those demands and we are happy to be onboard with them.”

The post TaDa Gaming Announces New Partnership with iGP appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Apple

Brazil’s regulated betting market faces its most turbulent week since launch

Published

29 minutes ago

May 11, 2026

GamingAmericas.com

brazil’s-regulated-betting-market-faces-its-most-turbulent-week-since-launch

From App Store access to police budget disputes, four developments this week reshaped the regulatory and commercial landscape for licensed operators in Brazil

One in ten Brazilian teenagers bet on licensed platforms in 2025

A study commissioned by identity verification platform Unico and conducted by Ipsos with 1,200 young Brazilians between the ages of 10 and 17 revealed that 11% of that population placed bets on betting platforms during 2025.

The highest concentration occurred in the final four months of the year, when 9% of respondents reported having wagered. The data was first reported by Estadão.

The numbers are concentrated in the older age groups and among male respondents. Among boys aged 16 and 17, 20% said they had placed bets online at some point.

Among girls aged 14 and 15, the figure was 14%, more than three times the rate recorded among girls aged 10 to 13, where 4% reported accessing betting platforms or games such as “tigrinho.”

The findings are significant not because they point to failures in the regulated market, but because they highlight what lies beyond it.

Brazil’s licensed operators have been required since January 2025 to implement real-time facial recognition as part of their Know Your Customer procedures, making it virtually impossible for anyone under 18 to register on an authorised platform.

Pix transactions are restricted to accounts matching the platform registration, closing off the use of parents’ credentials.

Operators found in breach face fines of up to R$2 billion and licence revocation.

Luis Felipe Monteiro, CEO for Latin America at Unico, identified the core vulnerability.

“The main challenge today is that much of the internet still operates under fragile age verification mechanisms, based only on self-declaration.

In practice, clicking a button saying ‘I am over 18’ is enough to access different types of content or services,” he says.

Curiosity was the primary reason cited by young respondents for placing bets, mentioned by 41%.

The prospect of easy money was cited by 34%, while the influence of content creators registered at just 9% , a figure that complicates the prevailing narrative around influencer-driven gambling among minors.

The regulatory framework is tightening further.

Brazil’s Digital Child and Adolescent Statute, in force since March 17, requires digital platforms to implement mechanisms to prevent excessive or compulsive use among young people, a provision that explicitly covers betting and digital gaming.

Apple opens the App Store to licensed betting operators in Brazil

In a development the industry had been pushing for since the regulated market launched, Apple updated its App Store policies on May 8 to allow the distribution of fixed-odds betting applications in Brazil.

The change applies exclusively to operators holding a valid licence issued by the Secretariat of Prizes and Betting of the Ministry of Finance.

The move ends a period in which the iOS ecosystem maintained stricter restrictions for betting apps in the Brazilian market than in comparable regulated markets in Europe.

Those limitations had pushed licensed operators to prioritise mobile web versions and Progressive Web Apps over native applications, a structural disadvantage in a market where smartphones are the primary access point for bettors.

For operators seeking to list their applications, Apple has established a specific review process. Submitting updated app information in App Store Connect without uploading a new version will not trigger a review.

Developers must include Brazilian licence details in the App Review Information section, insert the information in the Notes field and attach supporting documentation confirming operational authorisation.

Applications classified as gambling content must carry an 18+ age rating in Brazil, applied automatically when developers confirm gambling content in the age rating questionnaire.

Apple’s guidelines state that applications must comply with all disclosure and notice requirements under Brazilian law, including age restrictions and gambling risk warnings.

Developers are directed to consult legal counsel on their specific obligations.

The industry’s reading of the update is clear: it represents international recognition of Brazil’s regulatory framework by one of the world’s largest technology companies.

The practical implications extend across commercial strategy.

Mobile already accounts for the dominant share of user access in Brazil, and the availability of native iOS applications opens new possibilities for conversion optimisation, user retention, CRM strategies and push notification campaigns, tools that web-based solutions cannot fully replicate.

The update brings Brazil closer to the operating conditions of established regulated markets in Europe, where licensed operators have long distributed native applications through official mobile ecosystems without restriction.

The full update is available on the Apple Developer News portal.

Brazil’s betting regulator takes the national experience to Bogotá

Daniele Cardoso, Secretary of Prizes and Betting at Brazil’s Ministry of Finance, represented the country at the 10th Ibero-American Gaming Summit, which concluded on May 6 in Bogotá, Colombia.

The event, held under the theme “Latin America: a regulated market driving opportunities,” brought together authorities and representatives from 15 Ibero-American countries alongside global companies and industry associations.

The host institution was Coljuegos, the Colombian gaming regulator linked to the Ministry of Finance and Public Credit.

Cardoso participated in the panel “Regulation and Licensing in Latin America: the stability framework,” where she outlined the trajectory of Brazil’s regulatory process and the challenges of building a framework for a market already in full operation at the time the rules were being written.

She traced the legal foundation from Law 13.756/2018 through to Law 14.790/2023, which established the fixed-odds betting regulatory regime, defining the rules for market entry and permanence, the sanctions process, consumer protection measures and mechanisms to address the negative externalities of the activity.

“Participating in international meetings allows us to learn from the experiences of other countries, exchange good practices and improve legal and technological regulatory tools,” Cardoso said.

“This contributes to a safer, more transparent and better protected environment for the bettor.”

The panel also included:

Luis Filipe Coelho, director of the Gaming Regulation and Inspection Service of Portugal;
José Luis Pérez, director of Regulation and Registration at Peru’s General Directorate of Casino Games and Slot Machines;
Juan Carlos Santaella Marchán, director of Puerto Rico’s Gaming Commission;
Maria de Lourdes Ramírez, General Director of Games and Lotteries of Mexico;
Marco Emilio Hincapié, president of Coljuegos.

A second panel, focused on responsible gambling as a long-term business sustainability driver, addressed consumer protection as a central pillar of industry operations, with emphasis on the implementation of policies and tools capable of ensuring the viability of the business model while prioritising client protection.

Brazil’s presence in Bogotá reflects the growing weight the country carries in regional regulatory conversations.

With one of the most comprehensive licensing frameworks in Latin America now in its second year of operation, Brazilian regulators are increasingly sought as reference points by counterparts across the region.

Police forces dispute control of betting tax revenues as provisional measure creates internal friction

A provisional measure signed by President Luiz Inácio Lula da Silva in early April has generated significant tension within Brazil’s federal security forces over the distribution of revenues derived from fixed-odds betting taxation.

The measure directs up to R$200 million to the Fund for Equipment and Operationalisation of the Federal Police’s Core Activities, known by its Portuguese acronym Funapol, with the stated objective of covering health benefits for officers across three federal police forces: the Federal Police, the Federal Highway Police and the Federal Penitentiary Police.

The political framing presented the measure as a shared victory for all three forces.

The legal reality is more complicated. Funapol is structurally and exclusively linked to the Federal Police.

The provisional measure contains no legal guarantee that the funds will be distributed proportionally among the three institutions, a gap that has generated sustained concern within the Federal Highway Police and Federal Penitentiary Police, according to CNN Brasil.

The background to the measure matters.

The government had originally pursued a Constitutional Public Security Fund as the vehicle for this funding, but that project stalled in Congress with insufficient time for approval before electoral legislation restrictions came into force.

The provisional measure , which carries immediate legal force, was the alternative solution. It resolved the bureaucratic obstacle without resolving the underlying dispute over distribution.

The model established by the measure provides for the government to transfer, progressively through 2028, up to 3% of total fixed-odds betting tax revenues to Funapol.

With Brazil’s regulated market recording a GGR of R$37 billion in 2025, the potential scale of those transfers is substantial.

Congressional allies of the Federal Highway Police and Federal Penitentiary Police have responded by introducing amendments seeking to broaden the scope of distribution and prevent the Federal Police from being the sole beneficiary.

The dispute has transformed the measure’s passage through Congress into a legislative battleground, with both forces maintaining active lobbying operations in Brasília to secure equal treatment.

For the betting industry, the episode illustrates a dynamic that has become increasingly visible since the market launched: tax revenues from licensed operators are now large enough to attract political competition over their allocation, a development that underlines both the scale the regulated market has reached and the institutional complexity of managing it.

The post Brazil’s regulated betting market faces its most turbulent week since launch appeared first on Americas iGaming & Sports Betting News.

AB Trav och Galopp

Richard Woodbridge Elected to ATG Board of Directors

Published

1 hour ago

May 11, 2026

Wladimir P.

richard-woodbridge-elected-to-atg-board-of-directors

At the Annual General Meeting of AB Trav och Galopp (ATG) on Thursday, May 7, 2026, Richard Woodbridge, CEO of Scandinavian Heritage AB, was elected as a new independent member of ATG’s board. He succeeds Mårten Forste, who left the board at the end of 2025.

“We welcome Richard to ATG’s board. His solid experience from the gaming market will add significant value to the board’s work,” said Peter Norman, chairman of ATG.

“I am pleased and grateful for the trust in me to take a seat on ATG’s board. ATG is a very strong company and brand with an important role in both gaming and horse racing, and I look forward to future collaboration with the rest of the board,” said Richard Woodbridge.

The Nomination Committee’s proposal for re-election of other board members was approved by the meeting.

ATG’s board thus consists of:

• Peter Norman (Chairman, independent)

• Boris Lennerhov (Vice Chairman, trotting representative)

• Katarina G. Bonde (Board member, independent)

• Marie Osberg (Board member, independent)

• Richard Woodbridge (Board member, independent)

• Marie Thelander Dellhag (Board member, trotting representative)

• Anders Lilius (Board member, galloping representative)

Employee representatives on the board:

• Björn Haglund (Board member, employee representative)

• Camilla Hasselström (Board member, employee representative)