Esports Technologies sets $70m revenue target after Aspire B2C acquisition

| By Robert Fletcher
Sports wagering technology provider Esports Technologies said it expects to achieve $70.0m (£51.4m/€61.7m) in revenue during the 10 months to September, helped by its acquisition of Aspire Global's B2C business.

In November last year, the provider purchased the B2C assets for $75.9m, as per the terms of an agreement struck in October 2021, and took ownership of Aspire Global’s B2C online content portfolio and sportsbook brands.

The brands include Karamba, Hopa, Griffon Casino, BetTarget, Dansk777 and GenerationVIP, which have more than 1.25 million deposited customers in over 15 countries around the world.

As the assets were acquired two months into its 2021-22 fiscal year, Esports Technologies has now provided an update as to how it expects to perform for the remainder of the year.

For the period from 1 December 2021 through to 30 September 2022, the provider said that revenue is likely to reach $70.0m.

“As we begin a successful 2022, we remain committed to increasing our operational and financial performance,” Esports Technologies chief executive Aaron Speach said. 

“We expect to deliver consistent cash flow for the remainder of 2022 by growing esports revenue in regulated markets, as well as continued growth from our portfolio of online sportsbook and casino brands.”

Shortly after the deal was completed, Esports Technologies also secured a British gambling licence via an agreement signed alongside its acquisition of the Aspire Global assets.

This deal, Esports Technologies said, would allow it to enter into tier one regulated markets including Great Britain, Germany and Denmark, with the acquisition having given it access to Aspire’s licences in those countries.

The provider confirmed it had reached an operator services agreement to launch in Great Britain, utilising the Karamba, Hopa, and Griffon Casino online sportsbook and casino brands.

Earlier this month, Esports Technologies also filed a patent for a new betting system, which will allow players to place wagers on price increases and decreases on groups of financial instruments.

Players will be able to bet on how participants in a number of financial instruments perform over a period of time- such as which participant will experience the largest or smallest change in price.

The system will then place all wagers in a pari-mutuel pool, and calculate odds based on the sizes of the bets. Winning players will then receive payouts from the pari-mutuel pool.

The supplier noted that the technology could also be used for bets on other items with a price or numerical value that changes over time.

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