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SPORTRADAR REPORTS SECOND QUARTER 2024 FINANCIAL AND OPERATING RESULTS

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Sportradar Group AG (NASDAQ: SRAD) (“Sportradar” or the “Company”), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced financial results for its second quarter ended June 30, 2024.

Carsten Koerl, Chief Executive Officer of Sportradar, said: “Our strong second quarter results, including another quarter of record revenues are a testament to the operating momentum we are generating across our business and the clear execution against our strategies to drive outperformance versus the market. We delivered robust growth across our high-value product portfolio and strong client uptake, while continuing to strengthen our business by driving efficiencies and significant cash flow.  I am pleased to once again raise our full year guidance as we continue to build long-term shareholder value through strong topline growth, a focus on delivering additional operating leverage and increasing cash flow generation.”

 

Second Quarter 2024 Financial Highlights

  • Revenue was €278.4 million, up 29% year-over-year demonstrating continued momentum in the business.
  • Betting Technology & Solutions revenues were €229.1 million, up 30% year-over-year, and Sports Content, Technology & Services revenues were €49.3 million, up 22% year-over-year.
  • Delivered strong revenue growth globally with Rest of World up 22% and the U.S. up 59%.
  • The current quarter generated a loss of (€1.5 million) compared to a de minimis profit for the same quarter last year.
  • Adjusted EBITDA[i] was €48.8 million, up 22% year-over-year.
  • Net cash generated from operating activities since the beginning of the year was €152.6 million, up 17% year-over-year.
  • The Company’s customer Net Retention Rate[ii] was 117%, demonstrating the strength in cross selling and upselling to clients, and increasing sequentially.
  • As of June 30, 2024, the Company had total liquidity of €542.2 million as compared to €483.7 million as of June 30, 2023, benefitting from strong cash flow generation in the first half of 2024.
  • During the quarter, the company repurchased approximately 588,000 shares, for a total amount of $6.2 million. As of August 9, 2024, the Company has repurchased approximately 748,000 shares with a total value of $8.0 million.
  • The Company further raised its full-year 2024 outlook and now expects to deliver 22% year-over-year growth in revenue and Adjusted EBITDA.

 

Key Financial and Operating Metrics

 

Q2 Q2 Change   Change
in €’000 (unaudited) 2024 2023   %
Total Revenue 278.4 216.4 62.0   29%
Profit (loss) for the period from continuing operations (1.5) 0.0 (1.6)   n/a
Profit (loss) for the period from continuing operations as a percentage of revenue (0.6%) 0.0% -57 bps   n/a
 
Adjusted EBITDA 48.8 40.1 8.7   22%
Adjusted EBITDA Margin1 17.5% 18.5% -98 bps   n/a
Net Retention Rate 117% 120% -360 bps   n/a
 
Supplemental Revenue Analysis  
 
Revenue Grouping  
Betting Technology & Solutions 229.1 176.1 53.0   30%
Sports Content, Technology & Services 49.3 40.3 9.0   22%
278.4 216.4 62.0   29%
 
Revenue Grouping as % of Total Revenue  
Betting Technology & Solutions 82% 81%   1%
Sports Content, Technology & Services 18% 19%   -1%
 
Geographic  
Rest of World 217.8 178.4 39.4   22%
United States 60.6 38.0 22.6   59%
278.4 216.4 62.0   29%
Geographic as % of Total Revenue  
Rest of World 78% 82%  
United States 22% 18%  
 

Recent Business Highlights

 

Revenue

Total revenue for the current quarter was €278.4 million, up 29% year-over-year driven by growth across the portfolio, in particular Betting Technology & Solutions.

 

Betting Technology & Solutions

Betting Technology & Solutions revenues were €229.1 million, up 30% year-over-year primarily driven by:

  • Streaming & Betting Engagement, up €26.2 million or 41% year-over-year, and Live Data and Odds up €18.6 million or 27% year-over-year, with both benefitting from existing and new customer uptake of our products and premium pricing, as well as from the strong U.S. market growth.
  • Managed Betting Services, up €8.5 million or 21% year-over-year, primarily driven by strong growth in Managed Trading Services due to higher trading margins and increased betting activity from existing and new customers.
  • As a percentage of total company revenues, Betting Technology & Solutions represented 82% of total company revenue in the current quarter as compared to 81% in the prior year quarter.

Sports Content, Technology & Solutions

Sports Content, Technology & Solutions revenues were €49.3 million, an increase of 22% year-over-year primarily driven by:

  • Marketing and Media Services were €7.7 million, up 28% year-over-year, with strong growth in European and North America ad:s revenue as several sportsbooks launched marketing campaigns.
  • Sports Performance was broadly flat year-over-year.
  • As a percentage of total company revenues, Sports Content, Technology & Solutions represented 18% of total company revenue in the current quarter as compared to 19% in the prior year quarter.

 

Costs and Expenses

  • Purchased services and licenses were €72.6 million, up €22.0 million or 44% year-over-year. Of the total purchased services and licenses, €28.9 million was expensed sport rights. Excluding expensed sport rights, purchased services were €43.7 million, up €10.5 million or 32% year-over-year driven primarily by the Company’s investments in its product portfolio.
  • Personnel expenses were €89.1 million, up €4.7 million or 6% year-over-year and down approximately 700 bps as a percentage of revenue, as we continue to closely manage our resources and focus on delivering operating leverage.
  • Other Operating expenses were €22.6 million, up €1.6 million or 8%, down approximately 160 basis points as a percentage of revenue, as we further leveraged our existing infrastructure.
  • Total sport rights costs were €95.9 million, up €43.6 million or 83% year-over-year, driven by new rights, in particular our ATP and NBA partnership deals.

 

Share Repurchase Program

In March of this year the Board of Directors approved a $200 million share repurchase program and commenced purchases during the second quarter. As of August 9, 2024, the Company has repurchased approximately 748,000 shares under the plan for a total of $8.0 million.

 

Updated 2024 Annual Financial Outlook

Sportradar is further raising its fiscal 2024 outlook for revenue and Adjusted EBITDA as follows:

  • Revenue of €1,070 million compared with prior outlook of €1,060 million, up 22% year-over-year and representing a 1-percentage point improvement in our full year growth rate outlook.
  • Adjusted EBITDA of at least €204 million compared with prior outlook of €202 million, up 22% and representing a 1-percentage point improvement in our full year growth rate outlook.
  • Adjusted EBITDA margin of approximately 19%.

 

Conference Call and Webcast Information

Sportradar will host a conference call to discuss the second quarter 2024 results today, August 13, 2024, at 8:30 a.m. Eastern Time. Those wishing to participate via webcast should access the earnings call through Sportradar’s Investor Relations website. An archived webcast with the accompanying slides will be available at the Company’s Investor Relations website for one year after the conclusion of the live event.

[i] Non-IFRS measure. See the sections captioned “Non-IFRS Financial Measures and Operating Metric” and “IFRS to Non-IFRS reconciliations” for more details.

[ii] Non-IFRS Operating Metric. See the section captioned “Non-IFRS Financial Measures and Operating Metric” for more details.

The post SPORTRADAR REPORTS SECOND QUARTER 2024 FINANCIAL AND OPERATING RESULTS appeared first on European Gaming Industry News.

American gambling industry

Gaming Americas Weekly Roundup – September 29-October 5

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Jackpot Digital Inc. has announced that it has been granted a Manufacturer and Distributor License by the Mississippi Gaming Commission. This approval authorizes Jackpot Digital to supply gaming equipment to licensed casino operators throughout Mississippi. This marks the Company’s second state-level manufacturer’s license in the US. Additional licensing applications are currently pending in other jurisdictions as part of the Company’s ongoing growth strategy. Mississippi is one of the nation’s premier destination gaming markets, generating over $2.4 billion in gross gaming revenue in 2023. The state’s Gulf Coast and Biloxi regions are particularly well known for their vibrant casino tourism and established gaming brands.

iDEA (iDevelopment and Economic Association), the leading trade association representing the U.S. online gaming industry, launched the definitive online destination for all things online gambling: ideagrowth.org. The new website provides the media, and U.S. legislators and regulators, a comprehensive resource for data-driven research, policy insights, and responsible gaming resources. The new website provides the industry’s most vital statistics and research — from consumer protections to economic development — in an engaging, accessible format designed for maximum impact.

CT Interactive has further strengthened its international presence by expanding its certified game portfolio on the regulated Peruvian market with 20 new titles. This milestone underscores the company’s commitment to delivering high-quality, engaging gaming content tailored specifically to regional markets. The newly certified portfolio features titles from CT Interactive’s popular Buy Bonus product line, including fan favorites such as Duck of Luck, Fruits & Sweets, Doctor Winstein, and Nanook the White Ghost. These enhanced editions deliver dynamic gameplay with one- or three-level Buy Bonus options, giving players new tools for diverse strategies and greater control over the game’s pace and excitement. A highlight of the newly certified titles is the launch of Lucky Clover 10, the latest addition to the acclaimed Clover-themed series.

Partnerships

CT Interactive has entered a new phase of its Latin American growth by launching its complete portfolio of games on Rushbet in Mexico and Peru. This collaboration with Rush Street Interactive—one of the region’s leading online casino and sportsbook operators—marks a significant step in the company’s international expansion. Players on Rushbet now have access to proven favorites like Lucky Clover, 40 Treasures, Win Storm and Big Chilli, along with the engaging Hot Luck three-level jackpot, designed to enhance player excitement and retention. This partnership underscores CT Interactive’s commitment to long-term collaboration and delivering tailored gaming solutions across diverse Latin American markets.

Hard Rock International has announced its 26th annual PINKTOBER campaign in partnership with Sports Illustrated Swimsuit ahead of this Breast Cancer Awareness Month. As a global entertainment and hospitality brand guided by the principle “All is One,” Hard Rock is leveraging every touchpoint to support the cause throughout October, from a limited-edition retail collection to special menu items and events. A portion of proceeds from PINKTOBER sales each year are donated to the Hard Rock Heals Foundation, the charitable arm of Hard Rock, to support breast cancer awareness and research worldwide. The program has raised over $13 million for breast cancer research since its inception.

The post Gaming Americas Weekly Roundup – September 29-October 5 appeared first on European Gaming Industry News.

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Emilia Kurzynska Team Lead of Responsible Gambling

SOFTSWISS Handles 16,000 Responsible Gambling Cases in 2025

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SOFTSWISS, a global tech provider of iGaming software solutions, reports strong results from its Responsible Gambling team for 2025, helping operators strengthen compliance, protect players, and adapt to evolving regulatory demands.

In the first half of 2025, the SOFTSWISS Responsible Gambling team reviewed around 16,000 cases, including self-exclusion requests, proactive interventions, and behavioural checks. Beyond measurable cases, the team continued to support ongoing monitoring and compliance across multiple jurisdictions.

Key initiatives of the team’s 2025 work included:

  • The launch of a Responsible Gambling Video Digest, a monthly animated series explaining RG policies and updates for operators and internal teams
  • Bilingual training modules for First Line Support and CRM teams, improving collaboration and consistency
  • Active cooperation with AML, Legal, and Complaints teams to ensure a unified approach to player protection
  • Participation in external training programmes, with certified learning for employees across departments

The Responsible Gambling team continues to enhance its Risk Scoring Tool in collaboration with the Research and Development unit. The tool applies machine learning algorithms to detect risky behaviour more effectively, ensuring compliance with regulatory standards.

Emilia Kurzynska, Team Lead of Responsible Gambling, comments: “Our mission is to ensure that player well-being is always a priority embedded in every process. The growing number of Responsible Gambling cases shows that awareness is rising, and we meet this demand with reliable tools and timely interventions to effectively support every operator.”

SOFTSWISS places responsible gambling at the heart of its approach, enabling operators to enhance compliance, protect players, and adapt to regulatory changes. With rising awareness and increasing Responsible Gambling cases, the company provides reliable tools and timely interventions to ensure player well-being remains a top priority.

Partners and visitors are welcome to the SOFTSWISS Stand 4016 G at the SiGMA Central Europe Summit 2025 on 3–6 November to explore collaboration opportunities and share industry best practices, as well as take part in the live car assembly experience, explore innovative solutions, and discuss the key findings of the 2026 iGaming Trends Report.

 

About SOFTSWISS

SOFTSWISS is an international technology company with over 15 years of experience in developing innovative solutions for the iGaming industry. SOFTSWISS provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Casino Platform, the Game Aggregator with over 35,000 casino games, Affilka Affiliate Platform, the Sportsbook Platform and the Jackpot Aggregator. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.

The post SOFTSWISS Handles 16,000 Responsible Gambling Cases in 2025 appeared first on European Gaming Industry News.

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Redefine the Rules: GR8 Tech’s Heavyweight Rulebook Lands at SiGMA Central Europe 2025

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GR8 Tech is stepping into SiGMA Central Europe 2025 with a new playbook for iGaming leadership: The Heavyweight Rulebook. Built on the code of champions, the Rulebook defines the discipline, consistency, and relentless drive it takes to dominate the toughest arenas in iGaming. To create it, GR8 Tech gathered insights directly from iGaming’s top performers—the industry’s real heavyweights—turning their winning principles into a set of Champions’ Rules.

From November 3–6 in Rome, operators will find GR8 Tech at booth 5028-2, ready to share the rules and the technology that makes champions.

The Champion’s Rules: Heavyweight Results, Proven Standards

Attendees will see Heavyweight rules in action through demos, experiences, and conversations designed for operators who refuse to settle for average. Every Champion’s Rule translates into measurable business results with GR8 Tech.

  • Champions don’t wait. They launch first, and it shows: ULTIM8 Sportsbook can go live in as little as 7 days via iFrame integration.
  • Technology is the champion’s armor. Strong tools deliver strong results: +30% engagement uplift powered by AI-driven personalization, +50% GGR uplift with advanced sportsbook features and cross-vertical engagement tools.
  • Success belongs to the consistent. Resilience is built in with 99.99% uptime across global markets and the biggest world events, ensuring performance under pressure.
  • Partnership multiplies strength. With a revenue-share alignment model, GR8 Tech’s success is directly tied to that of its clients.

“In an industry as volatile as ours, no one wins alone. Champions don’t let one crisis consume everything—they keep moving, adapting, and performing under pressure. At GR8 Tech, we see partnership as the ultimate rule of the game: it multiplies strength, resilience, and results. That’s how real champions are made and that’s exactly what we’re bringing to SiGMA this year,” said Yevhen Krazhan, CSO at GR8 Tech.

ULTIM8 Sportsbook: Two Paths to Victory

At the center of GR8 Tech’s SiGMA Central Europe showcase is the ULTIM8 Sportsbook, a high-performance solution designed to help operators rule new markets and dominate existing ones. In Rome, attendees will see the dual power of its integration modes:

  • iFrame — For lightning-fast launches with customizable branding. Get to market in days without compromising speed or margin.
  • API — A new addition for operators who want to build their own champion’s frontend. Unlock maximum flexibility with GR8 Tech’s rock-solid trading, risk, and data systems.

No matter the path, the result is the same: precision, performance, and profitability at scale.

The next chapter of iGaming is written by champions who play by the Rulebook.

Meet GR8 Tech at booth 5028-2, SiGMA Central Europe 2025 in Rome, November 3–6. Discover how the Heavyweight Rulebook can help you scale, localize, and dominate with confidence—and add your own Champion’s mark to the hall of fame.

The post Redefine the Rules: GR8 Tech’s Heavyweight Rulebook Lands at SiGMA Central Europe 2025 appeared first on European Gaming Industry News.

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