Sportnco is preparing for its next stage of enterprise growth, as the French sports betting technology group doubled its corporate earnings to €6.1 million during 2020.
Providing a breakdown of its 2020 trading, Sportnco revealed a ‘balanced split ‘between its B2B and B2C activities’. B2B revenues were up 89% to €10m, whilst Sportnco’s ‘consumer-facing revenues’ rose 3% to €9m.
Closing its 2020 accounts, the Toulouse-based company declared post-tax net profits of €1.8 million, up 50% on 2019 results.
Moving forward, Sportnco detailed that its sportsbook technology services would be significantly deepened by its acquisition of Tecnalis, providing a best-in-class player account management solution for its B2B and B2C customers.
“The positive contribution of the Tecnalis acquisition has already been felt on Sportnco’s revenues, which rose 37% in 2020 to €19m vs. €14m in 2019,” the operator detailed in its update to investors.
Further 2020 highlights saw Sportnco reveal that it had grown its client portfolio to 36 real money gaming brands operating across 13 regulated markets in Europe, LatAm and North America.
Hervé Schlosser, CEO of Sportnco, commented: “The past 12 months have demonstrated the strength of the Sportnco group. As a business we were Covid- resilient and provided further proof of our ability to accelerate growth through M&A operations with the acquisition of Tecnalis and its award-winning Alira player account management platform this year.
“Regulation of sports betting and gaming markets continues to spread worldwide and we are extremely excited by the opportunities that Sportnco will have to benefit from these developments in the coming months and years.”