Establishing a ‘broad geographical footprint’ has been lauded as a significant driver of growth for Aspire Global, with further expansion plans in the pipeline for 2021.
Publishing its Q4 results for 2020, Aspire recorded a 37.6% increase in revenues, rising from €32.2 million in Q4 2019 to €44.4 million.
EBITDA also received a boost, with the iGaming solutions provider reporting figures of €8.3 million – up 89.9% from €4.4 million in the corresponding period in 2019
This growth, said Aspire, is a reflection of ‘continued good business momentum related to the attractiveness of the broad iGaming offering combined with the company’s market know-how and expansion to markets outside Europe’.
Income from the Nordics decreased by 30% to €3.7 million during the quarter. However, Aspire noted that following ‘significant investment by the B2C segment’, revenues within the UK and Irish markets saw a 155% growth to €11.2 million.
The Rest of Europe generated 15% growth in revenues during the period. But it was the ‘Rest of the World’ which was highlighted as a major growth area for the company, with revenues growing by 325% to €5.1 million.
Aspire believes that this growth was a reflection of ‘the group’s geographic expansion plans and the consolidation of BtoBet’, with the provider now present in four continents – marking a shift from its previous focus on the European markets.
During Q4 2020, Aspire noted that ‘all segments’ of the business showed strong growth with the Aspire Core division and Games growing by 26.8% and 61.7% respectively. Meanwhile, the recently acquired BtoBet – reported as a sub-segment of the company’s Sports segment – added €2.2 million in revenues in the quarter.
Praising the group’s results, Aspire Global CEO Tsachi Maimon commented: “We have succeeded in establishing Aspire Global as a powerhouse for iGaming operators and see great opportunities for continued profitable growth.
“Our recent wins with tier 1 operators, our broad geographic footprint in four continents and outstanding offering provide us with a solid base for further expansion.
“In 2021, our top priorities are to roll out our sports offering in Europe, Africa and Latin America, and to certify the sports platform for future US deals. This will enable us to continue to grow our customer base with tier 1 operators and to build a strong market presence in the US for our B2B offering.”
Looking at 2020 as a whole, Aspire revealed that full-year revenues increased by 23.2% from €131.4 million to €161.9 million.
During 2020, Aspire stated that ‘the pandemic impacted revenues positively’, with its Aspire Core and Pariplay performance highlighted as two drivers for growth.
The company said: “In addition, several more payment methods have been made available, the speed of the sites has improved following significant investments in IT infrastructure and Aspire Core’s partners can now offer their players additional currencies.
“These improvements have contributed to the attractiveness of the Aspire Core offering and the increase in revenues during the period.”
EBITDA also grew during the 12 month period, rising by 24.8% to €27.1 million – up from €21.7 million in 2019. Pariplay had a positive impact on profitability over the year, as EBITDA from the Aggregation and Games segment amounted to €4.2 million with an EBITDA margin of 23.3%.
Maimon continued: “Over the past twelve months we have created a new Aspire Global and established the company as a powerhouse for iGaming operators. I dare to be bold and say that Aspire Global has unique assets that give the company a strong position with huge growth potential.
“Prior to the acquisitions of BtoBet and Pariplay, Aspire Global was a European focused company with revenues mainly from casino. Today Aspire Global is present in four continents and we provide a complete, leading iGaming offering with proprietary games and games aggregation along with a sportsbook, gaming platform and managed services.
“This is key to our partners when they develop their expansion plans and provides us with competitive advantages.”