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Sportradar Reports Strong Growth In First Quarter 2022

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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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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.

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RESPWNED partners with LOTUS 8 to bring GIRLGAMER festival to Winnipeg in 2026

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RESPWNED and LOTUS 8 have signed a partnership to launch the GIRLGAMER Winnipeg Festival in 2026, marking the GIRLGAMER Esports Festival brand’s expansion into Canada.

RESPWNED manages the GIRLGAMER Esports Festival brand, while LOTUS 8 is a Canada-based company focused on event development and partnerships. The companies said they will jointly develop and deliver the Winnipeg event, combining global esports IP management, event production, commercial partnerships, and local execution.

“This partnership represents an exciting milestone for GIRLGAMER as we continue to expand globally and bring our platform to new audiences,” said Tiago Fernandes, Managing Partner at RESPWNED. “Canada is a dynamic and fast-growing Esports market, and we are proud to collaborate with LOTUS 8 to deliver a meaningful and impactful event experience.”

Steven Vuong, representing LOTUS 8, added: “We are thrilled to partner with RESPWNED to bring the GIRLGAMER Festival to Canada. This collaboration reflects a shared vision of building inclusive, high-quality esports experiences while creating strong commercial and community value. Together, we are laying the foundation for a standout event in 2026.”

The GIRLGAMER Winnipeg Festival is planned as a family-oriented event with business networking, brand activations, and community programming, and is expected to include international and local talent. Additional details, including dates, venue, and participating partners, will be announced in the coming months.

The post RESPWNED partners with LOTUS 8 to bring GIRLGAMER festival to Winnipeg in 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Boomerang Partners

Boomerang Partners’ case study: exploring the new rules of sports marketing

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Sports marketing used to be relatively straightforward. Major sports events – from international tournaments to league finals – meant big audiences, and visibility was often enough to drive results.

By 2026, that model is no longer enough. Competition for sports traffic has intensified, acquisition costs have increased, and audiences have become more selective in how they engage. Being present around major sports events is no longer a differentiator – everyone is there.

What matters now is not just how brands capture attention, but how they choose to work with it.

This shift is especially visible in affiliate-driven environments. As brands rethink how they engage sports audiences – and face tighter regulation and greater competition – affiliate strategies have to adapt just as quickly.

Performance is measured in real time, with teams competing under the same conditions and reacting to the same events.

This is where new formats and mechanics start to matter. Earlier this year, Boomerang Partners, a sports-focused affiliate program, brought together affiliate teams as part of the TIME TO WIN affiliate tournament.

The insights in this article come from real partner activity – from day-to-day campaign work to what teams tested during the TIME TO WIN tournament.

It’s no longer campaign-driven

The way sports marketing works is no longer built around campaigns. It’s built around behavior. What used to be planned weeks in advance now shifts during the event itself. Timing changes. Messaging changes. Sometimes, even the format changes.

The shift is simple: marketing is no longer planned around events – it adapts to them continuously, with messaging, concepts, and storytelling evolving from one moment to the next. These shifts don’t just affect how brands work with players – they also reshape how affiliate partners operate. As a result, partners have to adapt their strategies, formats, and approaches to engagement.

Personalization plays a big role here. Not as a feature, but as a baseline. Generic offers don’t hold attention anymore. If it’s not relevant to what the user is watching or reacting to, it gets ignored.

This is also changing how sponsorships work. Visibility still matters, but it’s no longer enough on its own. Brands are moving into formats that go beyond the match – content, integrations, and ongoing digital touchpoints.

At the same time, the space has expanded. Sports, esports, streaming – they now compete for the same attention, alongside a much broader set of content and digital experiences.

That makes timing harder. Big tournaments still drive peaks, but the build-up and the drop-off matter just as much. Planning around these moments is becoming more data-driven. Earlier this year, Boomerang Partners introduced its Sports Marketing and Betting Calendar 2026, built to map those patterns and help affiliates align campaigns with key moments and make more informed decisions around their strategy. In practice, partners use it to plan ahead for major events, streamline research, and structure content around both high-demand and niche sports.

From watching to reacting

Audience behavior has changed faster than most strategies – and it becomes especially visible in live, competitive environments.

During the TIME TO WIN tournament, this shift was hard to miss. Affiliate teams worked with sports traffic in real time, around live events, where attention moved constantly, and decisions were made on the spot.

Watching sport is no longer passive. During major matches, users follow the game while checking odds, reacting to moments, and switching between platforms. The second screen is no longer secondary – it’s part of the experience.

In practice, this meant that teams competing in the tournament had to adapt quickly – reacting to live moments, adjusting content, and aligning campaigns with audience behavior in real time.

That changes how campaigns are built. Timing matters more. Missing the moment often means losing the user.

Content is changing as well – and fast. Short-form formats capture a growing share of attention, especially among younger audiences. The full match is no longer the only point of engagement.

Behavior is becoming more social. Communities form around events – not just around teams, but around the experience itself.

Olesea Naidion, Brand Manager at Nightrush, TIME TO WIN participant, noted:

“The biggest shift I’ve noticed is that audiences don’t just ‘watch’ sports anymore – they’re actively participating. During major matches, people react to every moment – every corner, every substitution, every momentum shift.

The second-screen behavior is fascinating. Fans have their phones out the entire time – checking odds, chatting, and reacting on social media while the match is happening.

The traditional ‘sit back and watch’ experience is no longer how a large part of the audience engages with sport.”

What actually matters now

Not all traffic is equal anymore. Volume still matters, but it no longer defines success. What matters is what happens after the click – how fast users convert, how long they stay, and whether they come back.

This shift was clearly visible during the TIME TO WIN tournament. When campaigns ran around real-time events, performance was measured differently. There was no long funnel – the decision happened immediately, or not at all.

In practice, traffic and performance closely followed the sports calendar. Early peaks aligned with major tournaments, while quieter periods – such as international breaks – led to visible slowdowns. Consistent spikes on weekends also highlighted how closely user activity tracked live-event density.

Conversion has become time-sensitive. Delays cost results.

Retention matters more now. Acquiring users is more expensive, and users have more options. If they don’t see value quickly, they move on.

As a result, performance is evaluated differently. Impressions and reach are no longer enough to justify spending. What matters is whether activity turns into deposits, bets, and repeat engagement.

Olesea Naidion, Brand Manager at Nightrush, TIME TO WIN participant, commented:

“Engagement rate, conversion velocity, and customer lifetime value have become the most critical metrics. Impressions don’t pay the bills — action does.

We need to understand if content drives real behavior in real time, especially during live events when the conversion window is minutes, not days.”

What defines success

Sustaining results has become harder. Strong performance can still happen in short bursts. But without consistency, it doesn’t hold. The gap between short-term gains and long-term growth is becoming more visible.

What separates teams now is not access to traffic or events. It’s how that traffic is handled – how quickly it converts, how long it stays, and whether it returns.

That shifts the focus from individual campaigns to the full user journey. Acquisition, conversion, and retention are no longer separate – they have to work as a single system.

This is also reflected in how partners performed in the TIME TO WIN tournament. Even beyond the initial launch phase, participation continued to build, showing that sustained performance – not just early momentum – defines success.

When that connection breaks, performance drops just as quickly as it grows.

Anete Dunina, Head of Sales at Revpanda Group, TIME TO WIN participant, noted:

“Success in sports marketing will be defined by control over the full user journey. It’s about acquiring, converting, and retaining the right users, not just traffic.

Short-term wins don’t build long-term business.”

The shift is already visible across the market. It goes beyond marketing – reflecting broader changes in how sport is consumed, how brands operate, and how affiliate ecosystems evolve. Those who can adapt to it consistently will shape what sports marketing looks like next.

About Boomerang

Boomerang Partners is a rapidly growing global marketing agency offering a wide range of services. Boomerang Partners is an Official Regional Partner of AC Milan. In 2024, it launched the inaugural Golden Boomerang Awards – a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. Partners of the Agency launched six new products in 2024-2025, contributing to a nearly 1.5-fold increase in product users.

The Agency’s clients’ portfolio contains 10+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide incentive programs and 24/7 multilingual support.

The post Boomerang Partners’ case study: exploring the new rules of sports marketing appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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Kaizen Gaming wins three operator awards at SBC Awards Europe 2026

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Kaizen Gaming has won three operator awards at the SBC Awards Europe 2026, held during SBC Summit Malta on Thursday, 30 April. The company, which owns the Betano online sports betting and gaming brand, picked up “Sportsbook Operator of the Year”, “Casino Operator of the Year” and “Operator Innovation in Gaming”.

Christos Tzalavras, Kaizen Gaming’s Chief Product Officer, said: “Customer experience has been the foundation for Betano’s international success over the years. We concentrate our efforts in optimising it and bringing in new innovations that advance our capabilities, differentiate us from the competition and make the Betano experience unique for our users. These awards represent that exact philosophy. Managing to stand out among fierce competition within the European igaming landscape is a great honour. We would like to thank the awards’ judges for the recognition and our people for making it possible. We are more driven than ever, and are working to ensure that we provide a top-tier experience for everyone who entrusts us with their entertainment, across every market where we operate.”

Earlier in 2026, Kaizen Gaming announced it had acquired UK-based, AI-driven sports trading and analytics provider GameplAI. The company said it will integrate GameplAI’s features to strengthen its in-house capabilities across sports trading, player markets and performance analytics for Betano.

Kaizen Gaming also highlighted Betano’s European sponsorship portfolio, including the UEFA Europa League and the UEFA Conference League, plus club deals with FC Bayern München, Aston Villa FC, FC Porto, Sporting CP, SL Benfica, AC Sparta Praha, FCSB and Brøndby IF.

The post Kaizen Gaming wins three operator awards at SBC Awards Europe 2026 appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.

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