Aspire Global revenue jumps by a third as Q2 2020 financials hit record levels

Aspire Global has reported a 33.5% year-on-year (YoY) increase in revenue during the second quarter to €43.7m (£39.4m) as the company benefited from players switching to online during Covid-19. The supplier confirmed a 16.4% YoY rise in its company EBITDA, which increased to €7.1m (£6.4m), however its EBITDA margin slightly decreased to 16.1% from a prior Q2 2019 high of 18.5%. Operating cashflows within the business rose by 233% YoY to €12m (£10.8m) from a prior 2019 high of just €3.6m. First-time depositors increased by more than half (58.9%) as players switched from land-based gaming to online, with the firm netting 158,600 new players during the period. The company attributed this increase in revenue to a “continued good business momentum” and players switching platforms from land-based to online during the lockdown period. At a H1 level, Aspire Global revenue increased by 17.4% to €77.4m (£69.8m) during the first six months of 2020, with company EBITDA rising just over 1% to €12.3m (£11m) in the period. First-time depositors grew by 28.7% during H1 to 282,000 players. Aspire Global CEO Tsachi Maimon hailed the firm’s growth strategy of targeting so-called tier-one and tier-two operators as paying dividends for the supplier. The targeting strategy has seen the group ink supply deals with Mexico’s largest sportsbook, Caliente, as well as BetVictor. Aspire has also expanded into the Portuguese, Romanian and Swiss markets during H1. “The first half year of 2020 has been very special for everyone. One of our conclusions from the pandemic is that Aspire Global was able to swiftly adapt to dramatic changes in society,” said Maimon. “We were successful in securing business continuity during the pandemic and to continue the execution of the growth strategy, capitalising on our broad igaming offering,” the Aspire CEO added. The supplier said trading volumes increased to €13.1m (£11.8m) in July, 19% higher than its average monthly trading volume in Q3 2019. Aspire Global confirmed that its acquisition of fellow operator Pariplay had boosted revenue by 39.9% following the deal, allowing the firm to expand its footprint into the US market. “This makes us confident in our ability to perform M&A activities and integrate new operations,” said Maimon. Following this expansion, Aspire has confirmed it is looking to open its first US branch in 2021.