Aspire Global revenues grow by 46% in Q3
Q3 numbers, on the back of a strong year, come amid a refocus from B2C to B2B.
Sportsbook and casino Aspire Global has released a strong Q3 2021 earnings report that has seen revenue increase by 46% and EBITDA by 38%. This growth was driven by a number of factors across the board, not least a strong performance in aggregation and games as well as the sale of its B2C arm to Esports Technologies.
It was also able to strengthen its American arms by being granted a full supplier license in West Virginia as well as signing its first contract in Brazil.
The Malta-based Aspire reported increases across the board for the third quarter: revenues’ 46% increase tallied up to €58.6m ($67.7m); EBITDA’s 38% increase came to €9.1; earnings after tax saw a 68.1% increase which came to €6.4m; and earnings per share increased by 62.5% to €0.13.
Overall, this is in keeping with the overall direction of the fiscal year, which has seen a similar growth trajectory. The first nine months have seen revenues increase by 38.2% (€162.4m), EBITDA increase by 46% (€27.5m), earnings after tax have increased by 79% (€19.4m), and earnings per share by 77.2% (€0.39).
Group CEO Tsachi Maimon ascribes this success to a refocus – through the sale of Aspire’s B2C segment – on the areas that maximize the company’s profitability.
“We clearly execute our growth strategy to become a world leading iGaming supplier,” he said in a statement.
“With the sale of the B2C segment, Aspire Global will become a clearly focused B2B company and even stronger and more profitable. The sale will also give us additional resources to further develop and enhance pour B2B offering as well as the opportunity to explore new M&A activities.”
Maimon also noted the steps that have been taken to broaden international viability: “In Q3 2021, we have made key progress towards our objective of establishing strong positions in the US and Brazil. Our success in these markets will be important steps in reaching our goal to become a world leading B2B provider.”
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