Sportnco reveals revenue and earnings growth in 2020
Revenue in 2020 amounted to €19m (£16m/$23m), up 35.7% from $14m in the previous year.
Sportnco said while there was a relatively even split between B2B and B2C revenue in 2020, it experienced significantly more growth within its B2B segment.
Revenue from B2C activities in the 12-month period climbed by 89% year-on-year to €10m, whereas B2C revenue edged up 3% to €9m.
Sportnco also noted the impact of its acquisition of Spanish igaming platform provider Tecnalis, which it said helped drive revenue growth in 2020.
Aside from revenue, Sportnco reported a 68% year-on-year rise in earnings before interest, tax, depreciation and amortisation (EBITDA) from €3.7m to €6.1m, while post-tax net profit increased 50% to €1.8m.
By the end of the year, Sportnco was managing 36 real-money gaming clients across 13 regulated markets in Europe, Latin America and the US.
“The past 12 months have demonstrated the strength of the Sportnco group,” Sportnco chief executive Hervé Schlosser said.
“As a business we were Covid-resilient and provided further proof of our ability to accelerate growth through M&A operations with the acquisition of Tecnalis and its award-winning Alira player account management platform this year.
“Regulation of sports betting and gaming markets continues to spread worldwide and we are extremely excited by the opportunities that Sportnco will have to benefit from these developments in the coming months and years.”
Earlier this year, Sportnco also took its first step into the US igaming market with the launch of a free-to-play sportsbook app for daily fantasy sports provider SuperDraft.
SuperDraft is the official draft fantasy sports platform of Caesars Entertainment, which invested in the company in January of this year.