Aspire Global has reported a successful first quarter for 2021 having achieved key objectives across multiple verticals and recorded a total revenue increase of 42.6%, driven by the global market presence of BtoBet.
Publishing its Q1 2021 trading report, the group revealed that revenue had increased to €48.1 million (€33.7 million Q1 2020), attributed largely to the acquisition of BtoBet, which enabled the firm to establish a strong presence in the UK, Latin America and Africa.
Additionally, EBITDA increased by 64.2% year-on-year (YoY) to €8.6 million from €5.2 million, while EBITDA margin rose to 17.8% from the previous quarterly figure of 15.5%.
The acquisition of BtoBet and its proprietary sportsbook drove a significant increase in Aspire Global’s sports revenues from 7.6% of total group income in Q1 2020 to 15.2%.
Further highlighting the successful integration of the sportsbook platform, Aspire noted that BtoBet had allowed the firm to enhance its presence in the UK – ‘the biggest European iGaming market’ – stating that this was ‘an important strategic step in expanding our sports vertical to new markets’.
Meanwhile, the firm’s Pariplay brand also strengthened its position in the UK sector via an agreement with high street retailer Betfred. Pariplay has doubled its revenues in the 12 months since Q1 2020, reporting an EBITDA margin of 30%, whilst BtoBet has experienced revenue growth of 51% and similar EBITDA margins in the same time period.
Aspire added that combination of BtoBet’s international sportsbook expansion and Pariplay’s ‘leading game offering’ has provided the firm with ‘crucial competitive advantages’.
Outside of the UK and Europe, Aspire has advanced its commercial strategy in the US, having secured an Interim iGaming Supplier License in West Virginia and launching Pariplay’s games in New Jersey via an agreement with Rush Street Interactive.
Additionally, the group’s status in New Jersey has been strengthened via its partnership with platform provider GAN, allowing Pariplay to further entrench its presence in the Northeastern state as well as in Michigan and Pennsylvania.
Heading south, Aspire has signed up Mexico’s Grupo Television as a local partner, with the media outlet – which had a market cap of over $7 billion – utilising the firm’s gaming platform and sports solution.
“We see tremendous growth opportunities for Aspire Global,” said CEO Tsachi Maimon in the report. “With our complete iGaming offering, we will target both new customers and broaden our presence with existing partners.”
Having achieved B2B revenue growth of 46.2%, Aspire Global’s targets for 2021 include the continued development of its B2C capabilities, having invested in its Aspire Engage CRM tool and Pay N Play solution – launched in December 2020 – as well as additional payment methods and KYC processes.
Although acknowledging that progress has been made with B2C initiatives, Aspire has identified the need for a review to assist the company with assessing its options ‘to further accelerate growth’ and maintain successful results for the remainder of 2021.
“We have proven our ability to gain tier 1 operators as customers with names such as Rush Street Interactive (RSI), Betfair, William Hill and 888casino,” Maimon continued.
He concluded: “The strategy to grow in regulated markets is proven efficient, and we will continue to license our offering in more regulated markets and enter new markets. We remain confident in our ability to deliver on our 2021 financial targets and are truly excited by Aspire Global’s future prospects.”