NeoGames posts $31.3m in revenue for Q2
The provider formed 12 partnerships during the quarter to expand its US footprint.
NeoGames has published its financial report for this year’s second quarter, which ended June 30. The iLottery and iGaming solutions provider, and parent company of Aspire Global, also reported on its expansion throughout North America and Latin America.
Company revenue during the second quarter reached $31.3m, reflecting a 46.4% increase year-over-year.
Comprehensive loss in Q2 totaled $12.9m, the equivalent of $0.49 per share, when compared to $2.8m in comprehensive income for the second quarter of 2021.
Adjusted EBITDA reached $10.3m for Q2, an increase of 24%. Aspire Global contributed $1.3m in adjusted EBITDA to the overall total during the quarter.
The company made significant strides in its global expansion, particularly within the LatAm and North American markets. NeoGames acquired Gaming Laboratories International’s GLI-33 Events Wagering System certification for the BtoBet sportsbook platform. The deal paved the way for NeoGames to deploy the sportsbook in North America.
During the second quarter, the company signed 12 deals through Pariplay to provide games and content aggregation. Among those partnership were agreements with BetMGM to launch in Michigan and New Jersey, as well as a deal with DraftKings.
In the US and Ontario, the company also expanded its partnership with Caesars Entertainment through Pariplay.
NeoGames CEO Moti Malul said: “During the quarter, we were excited to complete our tender offer for the shares of Aspire Global, a truly transformative transaction that positions us as a leading global provider in technology and content across iLottery, online sports betting and iGaming.
“Strategically, we are already realizing benefits from the combination. We recently announced a multi-year turnkey project, leveraging our iLottery and BtoBet offerings in Brazil, which marks our entry into the market with an end-to-end solution of iLottery and online sports betting.”
In addition to its growth throughout Latin America and the US, NeoGames has expanded its Canadian footprint during the quarter through its Pariplay partnership with Atlantic Lottery. Through the collaboration, Pariplay offers users content from its in-house brand Wizard Games.
Players across Atlantic Canada have access to many aggregated third-party games through the Fusion platform.
Malul elaborated about the company’s progress in Canada: “Furthermore, as Pariplay continues to grow in Alberta, we entered a partnership with the Atlantic Lottery in Canada through Pariplay to offer its aggregation platform and a wide variety of its games content to the Canadian regional lottery organization.”
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