Aspire Global boosted by new sportsbook in Q1

Aspire Global cited the success of its new sportsbook as one of the key reasons behind a year-on-year rise in key financials during the first quarter.

Revenue in the three months to March 31 amounted to €18.4m ($21.9m), 14% higher than the €16.1m generated in the same period last year, with B2B revenue also up 24% year-on-year to €9.7m.

Earnings before interest, tax, depreciation and amortisation increased 6% from €2.6m in Q1 of 2017 to €2.4m in the most recent quarter, with a slightly lower margin of 15%.

Aspire also said that although earnings before interest and tax (EBITDA) remained level at €2.4m, earnings after tax from continued operations dropped from €2.5m to €2.2m.

Earnings per share after tax from continued operations slipped from €0.06 to €0.04.

Tsachi Maimon, chief executive of Aspire Global, said: “I am happy to present yet another positive quarter with continuous strong organic growth and EBITDA development compared to last year.

“2018 started off with the launch of sportsbook, a major event as the company entered into the largest field of iGaming and became the first provider of a full-service platform solution for casino and sports operators.

“The initial response exceeded expectations and we look forward to putting the product to the real test as the World Cup starts in just over a month.

“Meanwhile, we are exploring a number of M&A-opportunities and increase the focus on Karamba.”

Maimon added: “After a seasonal, slower start to the first quarter contrasting the strong year-end, volumes rebounded creating a very positive trend that lasted all the way in to the second quarter. We feel confident in reaching solid year-on year growth in line with previous performance.”

Related article: Aspire Global sees key financials surge in 2017