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Sportradar Reports Strong Growth In First Quarter 2022

Published

4 years ago

May 18, 2022

Reading Time: 6 minutes

Overall revenue increased 31%; U.S. revenue increased 124% year over year
Company reiterated annual outlook for fiscal 2022 projecting strong annual revenue growth of 18% to 25%

Sportradar Group AG, the 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 first quarter ended March 31, 2022.

First Quarter 2022 Highlights

Revenue in the first quarter of 2022 increased 31% to €167.9 million ($186.4 million)¹ compared with the first quarter of 2021, driven by strong growth across all business segments. In particular, the U.S. segment revenue grew by 124% to €25.7 million ($28.5 million) compared with the first quarter of 2021.
Adjusted EBITDA² in the first quarter of 2022 decreased 5% to €26.7 million ($29.6 million)¹ compared with the first quarter of 2021 primarily due to higher costs associated with being a public company as well as reversal of certain temporary COVID-19 related cost savings versus the first quarter of 2021.
Adjusted EBITDA margin² was 16% in the first quarter of 2022, compared with 22% over the prior year period.
Adjusted Free Cash Flow² in the first quarter of 2022 increased by 100% to €12.9 million, compared with the prior year period. The resulting free cash flow conversion² was 48% in the quarter.
Strong Net Retention Rate², based on the last twelve months, increased to 121% at the end of the first quarter of 2022 compared with 107% the same period in 2021 highlighting the continued success of the Company’s cross-sell and upsell strategy across its global customer base.
Cash and cash equivalents totaled €715.5 million as of March 31, 2022. Total liquidity available for use at March 31, 2022, including undrawn credit facilities was €825.5 million.
The Company reiterated its previously provided annual outlook for full-year 2022 for revenue and Adjusted EBITDA². Please see the “Annual Financial Outlook” section of this press release for further details.

Key Financial Measures	Q1	Q1	Change
In millions, in Euros €	2022	2021	%

Revenue	167.9	128.5	31%

Adjusted EBITDA²	26.7	28.2	(5%)

Adjusted EBITDA margin²	16%	22%	–

Adjusted Free Cash Flow²	12.9	6.5	100%

Free Cash Flow Conversion²	48%	23%	–

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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 March 31, 2022, which was €1.00 to $1.11.
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.

Carsten Koerl, Chief Executive Officer of Sportradar said: “Our fiscal 2022 is off to a fast start, with core, high-margin betting products driving growth around the world. Our U.S. business continues its tremendous growth story as more states legalize and sports betting becomes live, mainstream entertainment. As the market leader, our technology and data-driven insights continue to transform the converging media, entertainment and sports industries and fuel our consistent and long-term profitable growth story.”

Segment Information

RoW Betting

Segment revenue in the first quarter of 2022 increased by 25% to €86.7 million compared with the first quarter of 2021. This growth was driven primarily by increased sales of our higher value-add offerings including Managed Betting Services (MBS) which increased 51% to €26.4 million and Live Data/ Odds Services, which increased 16% to €46.8 million. MBS growth is attributable to increased turnover³ and Live Data/ Odds Services grew as a result of upselling content to existing customers. MBS includes Managed Trading Services (MTS) and Managed Platform Services (MPS). Additionally, increased content sales from the Synergy acquisition contributed to the growth.
Segment Adjusted EBITDA² in the first quarter of 2022 increased by 13% to €44.6 million compared with the first quarter of 2021. Segment Adjusted EBITDA margin² decreased to 51% from 57% in the first quarter of 2021 driven by temporary savings in sport rights and scouting costs in the prior year related to the COVID-19 pandemic as well as acquisition of new sport rights.

RoW Audiovisual (AV)

Segment revenue increased in the first quarter of 2022 by 17% to €45.9 million compared with the first quarter of 2021. This growth was primarily a result of increased content from Tennis Australia and the National Hockey League (NHL) as well as upselling content from the Synergy acquisition.
Segment Adjusted EBITDA² in the first quarter of 2022 was flat at €8.9 million compared with the first quarter of 2021. Segment Adjusted EBITDA margin² decreased to 19% from 23% compared with the first quarter of 2021 primarily due to higher sports rights costs driven by the easing of the COVID-19 pandemic versus prior year, and acquisition of new sports rights.

United States

Segment revenue in the first quarter of 2022 increased by 124% to €25.7 million compared with the first quarter of 2021. This growth was driven by increased sales of U.S. Betting services primarily as a result of new states legalizing betting. We also experienced growth from increased sales to media companies and a positive impact from the acquisition of Synergy Sports.
Segment Adjusted EBITDA² in the first quarter of 2022 was (€6.4) million compared with the first quarter of 2021 of (€3.6) million, primarily due to increased investment in the Company’s league and team solutions focused business. Segment Adjusted EBITDA margin² improved to (25%) from (32%) compared with the first quarter of 2021 reflecting an improvement in the U.S. segment operating leverage.

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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.

Costs and Expenses

Personnel expenses in the first quarter of 2022 increased by €13.7 million to €52.3 million compared with the first quarter of 2021 primarily resulting from additional hires in the Company’s product and technology organizations across high and low-cost locations. Employee headcount increased by 620 to 3,075 full time employees at the end of the first quarter of 2022 compared with the first quarter of 2021.
Other Operating expenses in the first quarter of 2022 increased by €5.0 million to €19.5 million compared with the first quarter of 2021 mainly driven by higher costs associated with being a public company, and the reversal of temporary COVID-19 related cost savings versus the prior year.
Total Sport rights costs in the first quarter of 2022 increased by €13.1 million to €54.0 million compared with the first quarter of 2021, primarily resulting from new rights for 2022 for ICC, UEFA, ATP and a normalized schedule in sports such as NBA, NHL and MLB, as COVID-19 pandemic restrictions eased.

Recent Business Highlights

In April 2022, Sportradar acquired Vaix, a pioneer in developing AI solutions for the iGaming Industry. Vaix’s innovative AI technology allows betting and gaming operators to gain a personalized view of their customers, which provides a more targeted, player-friendly experience. Sportradar has partnered with Vaix previously and incorporated its technology into its Managed Trading Services (MTS) offering. Sportradar’s MTS solution is a sophisticated trading, risk, live odds and liability management offering that helps betting operators boost margins and profits, while increasing efficiency and managing risk.
Sportradar was awarded a supplier registration for online/mobile wagering in Ontario. With this registration for online/mobile wagering from the Alcohol and Gaming Commission of Ontario, Sportradar now holds over 36 licenses in North America across states, territories, tribes, and Canada. Additionally, Sportradar Integrity Services and the Canadian Hockey League announced a multi-year education and bet monitoring services agreement. This new relationship increases Sportradar Integrity Services’ portfolio of ice hockey partners to nine different leagues and federations around the world and strengthens its leadership position across North American sports leagues.
The Company continued to strengthen its U.S. leadership by appointing former Fiserv executive Michael Gandolfo as Group Head, Regional Sales. Gandolfo led Fiserv’s Large Financial Institution Sales and Service Team, responsible for over 300 top financial institutional clients.
Norwegian state gaming operator, Norsk Tipping, will deploy Sportradar’s internet-based Self-Service Betting Terminal (iSSBT) into 245 retail outlets across Norway to support the gaming operator’s growth. iSSBT is deployed in over 500 retail outlets, enabling Norsk Tipping to establish a mobile-first and online digital strategy, along with a retail presence.
Sportradar continued to advance its mission to detect, investigate and prevent betting-related match-fixing, doping and other threats to the integrity of sport by announcing a multi-year integrity partnership with NASCAR, an expansion of a previous agreement to provide bet monitoring and reporting with its Universal Fraud Detection System (UFDS), launching a Sportradar Integrity Exchange, a network that enables bookmakers to report suspicious betting activity and extended its work with the Austrian Federal Criminal Police on anti-doping.
The Company also announced that it will act as an advisor to Bowl Season on the sports betting space in a responsible manner, with a focus on educating the organization’s membership on the rapidly evolving world of sports betting, as well as the opportunity to expand the scope to include Sportradar’s Integrity Services.

Annual Financial Outlook

Sportradar is reiterating its outlook for fiscal 2022 provided on March 30, 2022 as follows:

Revenue is expected to be in the range of €665.0 million to €700.0 million ($738.2 million to $777.0 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 ($136.5 million to $147.6 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.⁴

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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 March 31, 2022, which was €1.00 to $1.11.
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.

Brazil

Brazil advances integrity agenda amid strong market growth

Published

3 days ago

April 3, 2026

GamingAmericas.com

brazil-advances-integrity-agenda-amid-strong-market-growth

Brazil’s regulated betting market continues to gain structure and momentum, as the country balances regulatory consolidation, integrity safeguards, and commercial growth.

Over the past week, key developments, from federal policy implementation to strategic partnerships and product innovation, highlight how the ecosystem is maturing ahead of major global sporting events.

Government launches national policy to combat match-fixing

A major regulatory milestone was reached with the creation of the National Policy for the Prevention and Combating of Sports Manipulation (PNPEMR). Established through a joint ordinance by the Ministries of Sports, Finance, and Justice, the policy introduces a comprehensive national framework designed to address integrity risks in sports.

The initiative is structured around four central pillars: regulation, prevention, monitoring and enforcement, aiming to protect the credibility and unpredictability of sporting competitions in Brazil.

The policy emphasizes interinstitutional cooperation, bringing together public authorities, sports organizations, betting operators and international bodies.

Among its key measures are:

Standardization of reporting flows for suspicious betting activity
Continuous education programs for athletes, referees and sports officials
Protection mechanisms for whistleblowers
Strengthening of criminal investigations targeting organized match-fixing networks

Under the framework, the Ministry of Sports will coordinate implementation, while the Ministry of Finance will oversee betting regulation and operator compliance. The Ministry of Justice and Public Security, alongside the Federal Police, will lead intelligence-sharing and enforcement efforts, particularly in cases with interstate or international scope. See DOU

A multi-stakeholder governance committee will be responsible for monitoring progress and proposing adjustments, ensuring that the policy evolves alongside the market.

This move reinforces Brazil’s intention to align regulatory oversight with global integrity standards, particularly relevant as the country prepares for high-volume betting scenarios during major international competitions.

Sportradar expands iGaming strategy with Playradar launch

On the corporate front, Sportradar announced the launch of Playradar, a new brand dedicated to its iGaming vertical, signaling a strategic shift toward more integrated and immersive betting experiences.

The new offering is built around hybrid gaming concepts, combining real-time and historical sports data with live streaming and casino content.

Among the key features is a 24/7 live experience hub, where users can engage simultaneously with sports events and interactive gaming formats.

The initiative will be led by Edo Haitin, a seasoned executive with over two decades of experience in live gaming and product development.

The company plans to roll out Playradar starting in 2026, initially targeting regulated markets in the UK, North America and Latin America.

According to CEO Carsten Koerl, the move represents a natural evolution of the company’s capabilities, leveraging its existing infrastructure in data, streaming and user behavior analytics to enhance engagement and monetization across the player lifecycle.

Haitin also emphasized the strategic vision behind the launch, highlighting the ability to combine technology and content in line with evolving market demands, particularly as operators look for differentiated and immersive user experiences.

Importantly, Playradar will operate exclusively in regulated environments, maintaining a strong focus on responsible gaming and integrity, aligning with broader industry and regulatory trends.

Playson strengthens Brazilian footprint through Betnacional partnership

Further reinforcing Brazil’s position as a high-growth market, Playson expanded its regional presence through a new partnership with Betnacional, a leading local operator owned by Flutter Entertainment.

The agreement will see a portfolio of Playson’s top-performing titles integrated into Betnacional’s platform, including 4 Pots Riches, Diamonds Power, and Sugar Teddy x1000, all recognized for their strong performance in regulated markets and engaging gameplay mechanics such as Hold and Win.

The partnership reflects a broader industry trend toward localization and mobile-first strategies, as operators seek to better align content with regional player preferences.

Cristhian Zito, Head of LatAm at Playson, highlighted the strategic importance of the deal:

“Partnering with Betnacional is an important milestone for us in Brazil. It is a highly respected local brand with a deep understanding of its audience, and we are confident our content will resonate strongly with its players.

This launch further strengthens our position in the market and reflects our commitment to delivering engaging, high-performing games to operators across Latin America.”

From the operator’s perspective, Frederico Cunha, Head of Commercial at Betnacional, also emphasized the value of the collaboration:

“We are delighted to welcome Playson’s portfolio to Betnacional. Their games are recognised for their quality, strong mechanics, and consistent performance, making them a valuable addition to our offering.

We look forward to working closely together and bringing an enhanced entertainment experience to our players.”

A market balancing integrity and growth

Taken together, this week’s developments illustrate a clear dual trajectory in Brazil’s betting sector: strengthening institutional and integrity frameworks while simultaneously attracting investment, innovation and international partnerships.

As regulatory structures become more sophisticated and collaboration between stakeholders deepens, Brazil is positioning itself not only as a compliant and secure market, but also as a central hub for growth in Latin America’s gaming industry.

SportyBet appoints DJ Khaled as global ambassador to expand connection between sports, culture and entertainment

SportyBet has announced DJ Khaled as its new global ambassador, strengthening its positioning at the intersection of sports, music, and contemporary culture.

He joins a global roster that includes José Mourinho and Éder Militão, reinforcing the company’s strategy of connecting with audiences through entertainment. The partnership will roll out across key markets such as Brazil, the United States, Mexico, and parts of Africa, supporting SportyBet’s expansion as an experience-driven platform.

According to Elias Gallego, Vice President of Sporty Group, the collaboration reflects the company’s focus on partnering with culturally relevant figures to engage diverse audiences, particularly in markets like Brazil where sports and lifestyle are closely linked.

Deeper push into music and entertainment

The move also signals a broader effort by Sporty Group to integrate music into its entertainment ecosystem. Earlier this year, the company partnered with Burna Boy on the “For Everybody” project, blending music, football, and global culture.

In this context, DJ Khaled’s appointment further strengthens a strategy centered on storytelling and fan engagement, especially in regions where sports and music are deeply connected.

Global mindset and brand evolution

DJ Khaled highlighted the shared vision behind the partnership, emphasizing mindset, authenticity, and global connection with fans.

The agreement reinforces SportyBet’s evolution beyond sports betting, positioning the brand within a broader entertainment ecosystem. In Brazil, it aligns with the company’s ongoing growth and its focus on delivering integrated experiences that combine content, culture, and user engagement.

The post Brazil advances integrity agenda amid strong market growth appeared first on Americas iGaming & Sports Betting News.

affiliate automation

ReferOn Shortlisted for “Best Affiliate Software 2026” at SiGMA Awards South America

Published

3 days ago

April 3, 2026

Wladimir P.

referon-shortlisted-for-“best-affiliate-software-2026”-at-sigma-awards-south-america

ReferOn, the next-generation affiliate management platform, has been shortlisted for the “Best Affiliate Software 2026” category at the upcoming SiGMA Awards South America.

The nomination recognises ReferOn’s continued growth and the platform’s ability to support operators with scalable, transparent, and efficient affiliate management solutions in increasingly complex markets.

ReferOn has become a trusted foundation for businesses worldwide looking to scale their operations. With rapid adoption across the globe, the platform is now the go-to choice for companies that need to scale quickly and reliably. Because the platform handles large volumes of data with ease, it is a vital tool for teams that need speed and precision. In such a competitive market, we provide the accuracy and simplicity required to stay ahead, allowing our users to focus on their goals without the technical stress.

A New Chapter: The Era of “Refie”

This nomination arrives at a defining moment for the company, after the 2025 launch of Refie, the latest evolution of ReferOn. We have humanized B2B software with Refie, an integrated assistant that acts as a helpful navigation layer for our users. This milestone completely removed the struggle of getting started on the platform by visually guiding people through complex steps, making sure everyone can find their way without any stress or confusion.

Refie transforms repetitive daily tasks into an engaging experience that actively minimizes human error. It was specifically designed to eliminate the manual bottlenecks affiliate managers have traditionally faced, making their daily operations much faster and more efficient.

Alex Bukin, General Manager at ReferOn, commented: “Being shortlisted for the SiGMA Awards South America is a strong recognition of the progress our team has made. We are focused on building technology that simplifies affiliate management and gives operators clearer, faster access to the data they need to grow. With Refie and our upcoming developments, we’re continuing to move in that direction”.

Ambitious Plans for 2026

In 2026, ReferOn will upgrade Refie with sophisticated gamification to boost user engagement and streamline daily tasks for affiliate managers. These updates will introduce personalized, smart features, establishing a new industry benchmark for affiliate technology.

Cast Your Vote

We invite all industry peers and partners to support the work we’re doing. If you are a registered delegate attending SiGMA South America 2026, your voice matters.

Award Category: Best Affiliate Software 2026
How to Vote: Voting is open exclusively to delegates who hold valid event tickets. Please visit the official SiGMA Awards portal to cast your vote for ReferOn.

The post ReferOn Shortlisted for “Best Affiliate Software 2026” at SiGMA Awards South America appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

Latest News

ELA Games Contributes to Discussions on Scalable iGaming Ecosystems and Studio Innovation at HIPTHER Prague Summit

Published

3 days ago

April 3, 2026

Wladimir P.

ela-games-contributes-to-discussions-on-scalable-igaming-ecosystems-and-studio-innovation-at-hipther-prague-summit

ELA Games recently took the stage at the HIPTHER Prague Summit, joining top industry leaders to discuss the rapidly evolving landscape of the iGaming sector. Represented by Yaroslav Soloshenko, Head of Business Development, the studio participated in a forward-looking panel focused on building a more scalable iGaming ecosystem and advancing game innovation for 2026 and beyond.

Rather than just looking at incremental changes, the panel challenged speakers to envision an ideal, universal platform of the future before tackling everyday industry challenges. From there, the conversation shifted to real-world strategies, exploring how enhanced operator-supplier collaboration, gamification, and advanced platform architecture will shape the next generation of iGaming.

One focus of the session was the ongoing evolution of game development and distribution. The group highlighted the necessity of building bespoke, trust-based relationships with operators to secure the best visibility in increasingly crowded game libraries. Tied to this was the critical importance of early operator feedback and MVP (Minimum Viable Product) testing, with panelists noting that smaller studios often have a distinct advantage in implementing operator-driven changes faster than larger competitors.

The topic of artificial intelligence was also raised, with the point made that some studios already have proof-of-concept for fully AI-generated slots. This led the panelists to tackle the relationship between AI and traditional game design, weighing the balance between mass-produced, AI-generated content and the slower, human-led craftsmanship required to build higher-value games.

Addressing the realities of market distribution, the panel discussed how operators are becoming much stricter about the number of games they release to prevent market oversaturation. They also examined how rigorous testing rules in regulated regions can significantly delay product launches. Weighing in on these challenges, Soloshenko brought ELA Games’ forward-thinking perspective to the table, advocating for the ideal of a single global license to reduce regulatory barriers and accelerate market entry.

During the session, Soloshenko emphasized the necessity of uniting departments to achieve complete, A-to-B game design. He stressed the fundamental alignment required between product and business teams, noting that because the business division operates on the frontline of the market—tracking industry changes and operator demands—they must actively help guide the product’s direction. To achieve this, he advocated for transitioning away from a factory-line style of production in favor of a “boutique” approach, where all teams collaborate intimately from the initial project kick-off all the way to release day.

“Participating in the HIPTHER Prague Summit gave us a great opportunity to explore how development strategies must adapt to current industry realities,” said Yaroslav Soloshenko, Head of Business Development at ELA Games. “The foundation of our approach is continuous collaboration, both internally and externally. By working as closely as possible with operators to share early MVPs, we gather invaluable feedback. When those insights are handed directly to a unified development team, it allows us to consistently develop titles crafted exactly for what the market needs at any given time.”

Being a part of these high-level industry talks is part of ELA Games’ strategy to remain closely aligned with operator needs and player expectations as the market evolves.

Play the demo and other games here: www.elagames.com/our-games

The post ELA Games Contributes to Discussions on Scalable iGaming Ecosystems and Studio Innovation at HIPTHER Prague Summit appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.