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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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Player protection focus for ITL at London’s Autumn Coin-op Show (ACOS)

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The Autumn Coin-op Show (ACOS) celebrates its 10th anniversary this month taking place on 21-22 October at ILEC Conference Centre, Earls Court, London. Innovative Technology (ITL) will be showcasing their latest cash validators and age & identity technology on stand 11.
Commenting on ITL’s involvement, Andy Bullock, Senior Business Development Manager said, “ACOS is a great networking opportunity for the coin-operated amusement and entertainment industry and it’s always good to connect with our customers and partners at the show.  A key focus this year will be on player protection and we look forward to showing how we can assist operators comply with the new age verification regulations coming into force.  Our tech can help prevent underage gambling and manage self-exclusion schemes. MyCheckr performs accurate and anonymous age checks and is ideal when placed at the entrance to 18+ gaming zones FECs and bingo halls to stop underage access.  ICU Lite can be fully integrated within a gaming machine to give an automated on-machine AV solution for land-based gambling venues including pub retailers. When our devices are linked via the MyConnect Hub, operators have full control and monitoring, and can remotely respond to alerts on a tablet or mobile for any underage access or play attempts which improves staff efficiency. Using facial recognition technology we can also help implement self-exclusion schemes, supporting player protection and safer gambling.”
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The post Player protection focus for ITL at London’s Autumn Coin-op Show (ACOS) appeared first on European Gaming Industry News.

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Unforgettable Networking in Warsaw: HIPTHER Announces Venues for the European Gaming Congress 2025

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HIPTHER is excited to announce the official networking venues for the European Gaming Congress (EGC) 2025 – HIPTHER Warsaw Summit, taking place between 29–31 October 2025 in Warsaw.

This year’s networking program is sponsored by PICANTE PR HUB – HIPTHER’s PR Distribution Hub powered by PICANTE Today with a reach of 200,000+ articles and Human-reviewed content trusted by thousands of startups.

The networking agenda combines sophistication, celebration of excellence and Halloween tradition – creating the perfect backdrop for meaningful connections, business discussions, and unforgettable memories.

First Handshakes & Catch-ups: Welcome Meet (Day 0)

  • Date: 29 October 2025
  • Time: 19:00 – 22:00 (local time)
  • Venue: Charlie Bar (Mokotowska 39, 00-551 Warszawa, Poland)

We kick off the Summit with a cozy pre-conference gathering at Charlie Bar, where attendees are invited to reconnect with old friends and meet new ones in a relaxed, family-like atmosphere. With complimentary drinks (Open Bar), laughter, and good company, the Welcome Meet sets the stage for two inspiring days ahead. Raise your glass to new beginnings and shared adventures!

EiGE Awards Ceremony & Evening Social Gathering Sponsored by PICANTE PR HUB (Day 1)

  • Date: 30 October 2025
  • Time: 19:30 – Late night (local time)
  • Venue: Podwale Bar and Books (Wąski Dunaj 20, 00-256 Warszawa, Poland)

Celebrate excellence in iGaming at the EiGE Awards Ceremony and our exciting Evening Social Gathering, hosted at the iconic Podwale Bar and Books. Nestled in Warsaw’s historic “White House,” this New York–style venue blends elegance and intimacy across two floors: a cozy ground floor with an outdoor patio and an upstairs cigar lounge with plush seating, a fireplace, and balcony views.

Known for its refined British colonial style, Podwale Bar and Books offers an outstanding drinks variety: from Scotch and Japanese whiskies to premium spirits, fine champagnes, wines, and signature cocktails. Cigar lovers will appreciate a curated selection of world-renowned brands alongside the bar’s own handmade exclusives.

This evening promises an atmosphere perfect for networking, celebrating achievements, and connecting with industry peers in one of Warsaw’s most distinctive lounges.

Zoltan Tündik, Co-Founder & Head of Business at HIPTHER, shared his thoughts: “We’re thrilled that PICANTE PR HUB is sponsoring all three evening networking parties at this year’s European Gaming Congress. From the Welcome Meet at Charlie Bar, to the EiGE Awards Ceremony and social gathering at Bar & Books, and closing with our traditional Halloween Party at Steam Bar, we’ve lined up incredible venues. What started as a Halloween tradition in Warsaw has grown into a full series of memorable nights, and we can’t wait to take the networking experience to the next level.”

EGC Closing Party: Halloween Edition 🎃

  • Date: 31 October 2025
  • Time: 19:30 – 24:00 (local time)
  • Venue: Steam Bar (Nowogrodzka 23, 00-511 Warszawa, Poland)

The Summit wraps up in true HIPTHER style with the 3rd annual Halloween Closing Party at the beloved Steam Bar. Once again falling on October 31st, this year’s edition invites attendees to embrace the spooky spirit and dress to impress (or scare!) in their best Halloween costumes.

And while costumes are optional, conversations are mandatory! Expect a night of great company, delicious food, flowing drinks, and a lively atmosphere as we close out EGC 2025 with fun, flair, and celebration.

Join us in Warsaw

The European Gaming Congress 2025 – HIPTHER Warsaw Summit is not just about premium learning opportunities, panels and discussions – it’s about the people, the stories, and the connections made to last beyond the conference halls. With these three unique venues, attendees are guaranteed an unforgettable networking experience in the heart of Warsaw.

Don’t Miss Out – Secure Your European Gaming Congress Tickets Today!

The post Unforgettable Networking in Warsaw: HIPTHER Announces Venues for the European Gaming Congress 2025 appeared first on European Gaming Industry News.

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BetterGambling Exclusive Report: 800+ UK Casino Operators Face Closure as 2026 Regulations Trigger Industry Apocalypse

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BetterGambling, the UK’s independent gambling industry think tank, released its comprehensive Market Intelligence Report, indicating over 800 casino operators will be forced out of the UK market by 2027, the largest industry slump in British gambling history.

The study, authored by BetterGambling’s stable of former casino bosses and regulatory experts, projects a precipitous 30-40% drop in authorised operators as the 2026 regulatory landscape renders continued operation economically non-viable for the low-to-midsized players.

“We are witnessing the greatest scale of change since the Gambling Act 2005. Our analysis proves that this is not just market consolidation – it’s a structural realignment of an industry that today supports 2,262 licensed operators as of March 2024,” said Diana Tunsu, Reviewer at BetterGambling.

Key findings from the BetterGambling report include:

• 680-900 operators anticipated to exit the market by the end of 2027 (30-40% of the current market)

• New casino launches will drop by 60-70% relative to 2024 levels

• White-label operations will see a 45-55% closure rate as a result of shifts in platform economics

• Stand-alone casinos will see 40-50% market consolidation as a result of compliance barriers

• Total first-year compliance investment of £800,000-2.8 million per operator.

The Compliance Investment Reality

BetterGambling’s in-depth analysis of operators reveals the true cash investment required for 2026 compliance. The regulatory fee alone will remove £100 million from the industry annually, and technology infrastructure upgrades will cost individual operators between £500,000 and £2 million.

“The economics are straightforward. Operators with GGY below £3 million per year are faced with a stark choice: spend significantly on compliance or consider strategic options including withdrawing from the market,” explained Diana Tunsu.

For more detailed analysis of the impact on different forms of casinos, see our in-depth UK Casino Reviews section.

White-Label Market Transformation

White-label casino businesses are recognized as being severely tested in this report, with 45-55% predicted to merge or close down. Of the estimated 350-450 current white-label businesses, BetterGambling predicts 200-300 will survive past 2027.

“White-label operators have a complex equation,” said the BetterGambling research team.

“They must navigate through the same compliance for independent operators when handling revenue-sharing arrangements with platform providers.”

The post BetterGambling Exclusive Report: 800+ UK Casino Operators Face Closure as 2026 Regulations Trigger Industry Apocalypse appeared first on European Gaming Industry News.

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