Aspire Global to reinforce revenue growth with acquisitions
Solutions provider to capitalise on strong Q3 revenue growth with investment in casino and sportsbook venture Mr. Play
Aspire Global has reported strong growth for Q3 with revenues reaching €19.3m after a 26% year-on-year rise.
EBITDA also increased significantly by 44% to €4.2m, up from €2.9m in the prior corresponding period, while the firm’s B2B revenues shot up 31% to €10.1m.
It has been a busy year for the solutions provider after the firm listed on the NASDAQ First Northern Premier, pulled out of the Australian market in September due to regulatory changes, and entered Portugal in the same month through a strategic partnership with one of the country’s leading media groups, Cofina.
These business moves were in line with the firm’s long term strategy to “focus on strong partnerships in regulated markets”, with 68% of Aspire’s Q3 revenues coming from taxed, regulated and soon-to-be regulated markets.
“Going forward, we are focusing on obtaining additional gaming licences in regulated markets; a complex process indeed, but well worth our while as it creates a considerable competitive advantage,” said CEO Tsachi Maimon.
Aspire is hoping to capitalise on some impressive Q3 growth with a 40% stake in a company that will launch Mr. Play, a new regulated casino and sports betting brand managed by “industry veterans”.
The company said it hopes to generate further revenues by providing its technology and operational services to Mr. Play, after investing an initial €2m in the venture.
“We continue to actively look for acquisition opportunities and new projects, allowing us to migrate popular casinos to our own platform, like our investment in Mr. Play where we have identified an opportunity to team up with industry veterans with a proven track record,” added Maimon.
“We will continue to actively look for other acquisition opportunities.”