Latest News
Sportradar Reports Strong Growth In First Quarter 2022
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% | – |
____________
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.
____________
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
____________
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.
Powered by WPeMatico
Gambling in the USA
Digicode at NEXT.io Summit NYC 2026: Driving the Future of iGaming Technology
Digicode, a leading provider of next-generation iGaming solutions, announced its participation in NEXT.io Summit NYC 2026: Innovation in iGaming, one of North America’s most influential iGaming and sports betting events taking place March 10–11, 2026, at Convene, 225 Liberty Street, Downtown New York.
NEXT.io Summit NYC 2026 brings together more than 1,200 senior executives, investors, technology leaders, operators, and innovators from across the global iGaming and sports betting ecosystem to explore breakthrough technologies, partnerships, and growth opportunities shaping the future of online gaming.
“At a time when the industry is rapidly evolving, NEXT.io Summit NYC serves as the premier stage for strategic conversation, innovation, and partnership,” said Elkhan Shabanov, CEO of Digicode Americas. “We’re excited to showcase our cutting-edge solutions that empower operators and suppliers to build faster, scale smarter, and take ownership of their technology stack.”
During NEXT.io Summit NYC 2026, Digicode will demonstrate how the Diger Suite empowers iGaming businesses to modernize their technology stack, offering a modular ecosystem of advanced solutions engineered to replace legacy systems with flexible, scalable, and performance-driven infrastructure:
- DigerRGS – Next-generation iGaming platform with full IP control and capacity for high throughput performance
- DigerPAM – Cross-market ready player account management system
- DigerPay – PSP-agnostic payment gateway supporting 200+ methods with real-time fraud protection
- DigerClick – Fully owned affiliate management platform with customizable tools and analytics
- DigerCompanion – AI-driven assistant for multilingual support, responsible gaming automation, and compliance management
During the event, Digicode experts will share real-world use cases and actionable frameworks to help industry leaders transition from legacy constraints to competitive advantage. Key topics include scaling rent-to-own iGaming platforms, automating support and compliance with AI, building resilient payment stacks, owning affiliate systems, and operating in regulated markets with adaptive technology.
The post Digicode at NEXT.io Summit NYC 2026: Driving the Future of iGaming Technology appeared first on Americas iGaming & Sports Betting News.
Latest News
NFL LEGEND ROB GRONKOWSKI TAKES ON HIGH-STAKES POKER PROS ON POKERSTARS BIG GAME ON TOUR IN LAS VEGAS
Gronk makes high-stakes debut taking on poker legends Phil Hellmuth and Antonio Esfandiari
Four-time Super Bowl champion and FanDuel Ambassador Rob Gronkowski is competing in a new arena as the former NFL tight end makes his high-stakes poker debut in Las Vegas on PokerStar’s The Big Game on Tour. Gronk goes head-to-head with some of the game’s best-known pros.
Known for his dominance on the football field and his larger-than-life personality, Gronk tests his competitive instincts at the poker table, where he is reading opponents, attempting a poker-face, cracking jokes and cracking aces when trying to take down pots worth thousands.
Gronk joins a table that includes:
- Phil Hellmuth, 17-time World Series of Poker champion
- Antonio Esfandiari, one of poker’s most recognisable high-stake pros
- Rania Nasreddine, a rising star known for fearless play
- Nick Wright, sports broadcaster and analyst
- Luke Waekelin, the loose cannon who earned his seat playing online on PokerStars
Season 2 of The Big Game on Tour features high stakes cash game action filmed in Las Vegas during the PokerStars North American Poker Tour and blends established poker players with celebrity competitors and ambitious qualifiers. The result is an unpredictable mix of elite gameplay, competitive ego and real money drama. Gronk’s appearance highlights the crossover appeal between professional sports and poker where competitors use skills in psychology, risk-taking and performance under pressure.
New episodes air weekly beginning Sunday, March 8 with the season culminating on April 5. Episodes are available via PokerStars’ YouTube channels.
Season 2 Release Schedule:
- Sunday, March 8 – BGOT Season 2 Episode 11
- Sunday, March 15 – BGOT Season 2 Episode 12
- Sunday, March 22 – BGOT Season 2 Episode 13
- Sunday, March 29 – BGOT Season 2 Episode 14
- Sunday, April 5 – BGOT Season 2 Episode 15
The latest season arrives just in time to celebrate the launch of FanDuel and PokerStars in the US, marking the coming together of the two brands.
To find out more, head to the PokerStars Blog.
For more details, please contact [email protected].
More information on responsible gaming can be found at: pokerstars.com/about/responsible-gaming/
The post NFL LEGEND ROB GRONKOWSKI TAKES ON HIGH-STAKES POKER PROS ON POKERSTARS BIG GAME ON TOUR IN LAS VEGAS appeared first on Americas iGaming & Sports Betting News.
Aleksandra Rudis CEO at Heaven of 7
Nurturing Female Leaders in iGaming
VeliTech is considered one of the best companies for welcoming and developing female leaders. We speak to three members of its team to find out more.
Olha Yatsyna — CMO at VeliTech & Chief Communications Officer at Veli Group
The VeliTech group of companies have earned a reputation for nurturing female leaders in iGaming. Talk us through your approach to this.
We want to attract the absolute best talent to VeliTech, and don’t believe that a person’s gender should have any impact on their suitability for a particular role. We are a committed equal opportunity employer and provide support and career development opportunities for all our employees. That said, the industry has a bit of a reputation for being male-dominated, so we have made it our mission from day one to make it clear that we want to welcome female leaders to the business, and that we will provide them with the support and development opportunities they need to achieve their full potential. This approach has seen us build out a balanced team, with some truly exceptional females in senior positions across the organisation.
Have you faced challenges in creating a culture where you can welcome and then nurture female leaders? If so, how were these challenges overcome?
The challenge has been mostly around getting the message out to female leaders that VeliTech offers the career opportunities they are seeking. The skills, qualities and qualifications required for most of the roles across the organisation can also be applied to other industries, so we have done a lot of work around engaging and communicating with female leaders to make them aware of the opportunities the global iGaming industry presents, and why VeliTech is the right company for them to join. One of the most effective ways of doing this has been to celebrate the success of the female leaders we have across the organisation, and use their stories to inspire others to apply for the open roles we have or just to connect with us and find out more about the business.
How do you attract top talent, and how do you make it known that a core aspect of your culture is supporting female leaders?
Attracting top talent, whether female or male, comes down to several factors. It starts with offering an engaging and interesting role that will allow them to develop their skills and competencies, challenge them in the right way, and provide a clear path of progression. It’s then about making them aware of the company culture and how the organisation will support them in achieving their own goals and aspirations. I think it’s important for potential candidates to get a feel for the types of people the organisation employs so they can determine if they would fit in well with the team. As for female leaders specifically, we do a lot to promote what our female leaders are doing and achieving, and to celebrate their successes. This helps others to see that we are true to our word when it comes to supporting female leaders, nurturing their talents and providing them with the opportunities to develop and secure senior roles within the organisation.
What are the upsides to having a diversified team where employees are provided with an environment to achieve their full potential?
We have the absolute best people working in any given role. A diversified and balanced workforce also brings new perspectives, different approaches to problem-solving and even unlocks unexpected opportunities for the business. By embracing female leaders and giving them the environment to succeed, VeliTech has grown at scale and pace, driven by the brightest minds and creative talents, regardless of their gender. I think we have also created a blueprint for other companies to follow when it comes to empowering female leaders, creating a culture based on equality, hiring individuals based on merit and ensuring they fit within the wider organisation.
What would you say to female leaders considering a career in the global iGaming industry?
Go for it. This is a fascinating industry that evolves at a fast pace. Things are always changing, and this is what makes it so interesting. It’s an industry that takes in everything from technology and law to consumer behaviour, data, marketing, engineering, creativity, finance and compliance, with a wide range of roles for individuals to explore and consider. It’s great for career development, and there are some truly fantastic organisations that you can work for, and in desirable locations across the world. For me, VeliTech has been the pinnacle of my career and has ultimately become my work home – a home that I would love to share with more like-minded female leaders.
VeliTech is a pioneering company in many respects, but especially when it comes to its approach to diversity and inclusion, and nurturing female leaders.
To find out more about the company culture that’s driving this, we spoke to two female leaders, Aleksandra Rudis, CEO at Heaven of 7 and Yevheniia Bocharova, CEO at VeliPlay.
We speak to both about their experience at VeliTech and how the company has supported their career aspirations.
How has the VeliTech culture allowed you to achieve your career goals and reach your full potential?
AR: What I value most about the VeliTech culture is that it recognises individuality. It’s a place where ideas can come from anyone, not just from titles. This has given me the freedom to lead Heaven of 7 in a way that feels authentic, combining business logic with creativity and empathy. I’ve always worked across different industries, from finance to tech and AAA gaming, and this variety shaped how I lead today. Veli’s environment supports that diversity of thought and lets you apply it without limits.
YB: When I joined VeliTech, I started as a Product Manager. From the very beginning, I experienced a culture that values initiative, innovative ideas and the courage to take risks, regardless of your position. Leadership didn’t just support me, they believed in me and my vision, giving me the freedom to take ownership and deliver results. Thanks to this culture of trust and openness, I was able to grow, take on new challenges, and expand my impact. Today, as CEO of VeliPlay, I see that the VeliTech focus on respect, transparency and equal opportunities has allowed me to fully realise my potential and inspire others to do the same. This environment nurtures leaders at all levels and encourages the entire team to contribute, innovate and excel.
What challenges have you faced as a female in the iGaming industry, and how has VeliTech helped you overcome these challenges?
AR: In the early years, I often felt that women in gaming had to over-explain their competence before being trusted with responsibility. Within the Veli ecosystem, that narrative changes. I’ve never had to prove my worth because of gender, only through the work itself. That’s a powerful shift. I’m surrounded by colleagues who value skill, commitment and results above everything else, and that creates a culture where you can truly grow.
YB: Early in my career, the industry often questioned women in leadership roles. At VeliPlay, the focus is always on competence, contribution and accountability, not gender. The company fosters a culture where anyone can express ideas freely and have their performance evaluated based on results. This support has allowed me to focus on growth and impact rather than overcoming stereotypes, and it encourages all employees to thrive.
Why is it so important for organisations to embrace diversity and equality, and to give female talent the same opportunities as their male counterparts?
AR: Because innovation doesn’t happen in echo chambers. The best ideas often come from the friction of different experiences, and gender balance is part of that equation. Women bring different instincts, such as emotional intelligence, holistic thinking and resilience, all of which are vital in industries built on understanding people. I’ve seen that firsthand, both in gaming and in tech startups, where diverse teams consistently outperform homogeneous ones.
YB: Diversity strengthens teams and drives innovation. Leaders of any gender bring unique perspectives and skills, but women often contribute flexible thinking, critical analysis and the ability to evaluate multiple possible outcomes, which enhances decision-making and strategic planning. Additionally, women frequently bring empathy and strong awareness of team dynamics, helping prevent conflicts and fostering a positive, collaborative environment. Providing equal opportunities ensures that all talent, regardless of gender, can contribute fully, making teams stronger, more resilient and more innovative.
Can you give an example of how having females in senior positions has benefited your company?
AR: At Heaven of 7, women hold key leadership roles across product, design and operations, and I’ve seen how that directly shapes both our culture and the games we create. In the iGaming industry, there’s often pressure to focus on short-term results. Having strong female leaders at the table naturally brings more balance and more attention to player psychology, emotional pacing and long-term retention alongside commercial performance. For me, the biggest benefit is perspective. We stay competitive and ambitious, but we also build with sustainability and responsibility in mind. That balance influences how we design our products and how we collaborate as a team.
YB: Female leaders have strengthened the VeliPlay culture of collaboration, communication and support. Their empathy and attention to team dynamics improve understanding across departments and help anticipate challenges before they escalate. This approach creates a harmonious, productive workplace, reduces employee turnover and encourages team members to stay longer than average, contributing to greater stability and continuity. As a result, teams work more cohesively, engagement increases and business outcomes improve.
How do you approach supporting other female colleagues in reaching their full potential, both within the VeliTech group of companies and the wider industry?
AR: I believe support starts with visibility and real responsibility. In the iGaming industry, women are still less represented in product and executive roles, so it’s important that we actively create those opportunities. When Forbes Cyprus recognised me as one of the Women in Tech Award winners, it reinforced how meaningful representation can be. It shows that leadership in our industry is possible and accessible. Within VeliTech, I encourage women to take ownership by leading projects, managing budgets and joining strategic discussions. Confidence grows with responsibility. Beyond the organisation, I’m always open to mentoring and honest conversations about both the opportunities and the challenges of leadership.
YB: I aim to lead by example, showing that leadership is defined by competence, confidence and accountability, not gender. I actively support colleagues by sharing experience, offering guidance and encouraging them to embrace challenges and take initiative. Our team is evenly balanced by gender, with a strong representation of women in core leadership, and I actively advocate for hiring talented women into managerial roles to ensure they have opportunities to grow and lead. Supporting each other and recognising achievements is essential, and this collective encouragement strengthens the entire team.
Any final thoughts or anything else you’d like to add?
AR: The global iGaming industry is evolving rapidly, and that evolution requires thoughtful and diverse leadership. Women bring perspective, resilience and strong people awareness – qualities that matter in a fast-moving, regulated environment. At Heaven of 7, I’m proud that we are building products that balance performance with player respect, while contributing to an industry where female leadership feels natural and visible.
YB: iGaming is a fast-paced, rapidly evolving industry where success depends on adaptability, openness and continuous learning. I am proud to work in a company that nurtures these qualities and creates equal opportunities for all employees, allowing talent to flourish regardless of background or gender. Diverse leadership, combined with collaboration and shared vision, makes VeliPlay and VeliTech stronger, more innovative and ready to achieve ambitious goals.
The post Nurturing Female Leaders in iGaming appeared first on Eastern European Gaming | Global iGaming & Tech Intelligence Hub.
-
Canada5 days agoPointsBet Canada to Contest Proposed 5-Day Suspension by AGCO
-
Africa5 days agoEGT showcases African growth strategy at SiGMA Africa 2026
-
Ben Bradtke Co-Founder of ThrillTech5 days agoThrillTech enters Brazilian market with EstrelaBet
-
BIG Cyber5 days agoBMM INNOVATION GROUP TO SPONSOR AND EXHIBIT AT SBC RIO 2026 MARCH 3–5 AT RIOCENTRO, RIO DE JANEIRO
-
Denmark5 days agoELA Games Strengthens Danish Market Presence via Stake.dk Tie-Up
-
ANJ5 days agoWhat’s up and what’s next on the French gambling market ?
-
Brasil5 days agoBrasil ante una encrucijada: match-fixing e impuesto rechazado
-
bets5 days agoRegulatory crossroads: Anti-match-fixing bill and betting tax rejection



