Technology solutions provider for the iGaming industry Aspire Global released its fourth quarter and full 2020 earnings report, posting record-high revenues and EBITDA.
“We have succeeded in establishing Aspire Global as a powerhouse for iGaming operators and see great opportunities for continued profitable growth.”
Tsachi Maimon, CEO, Aspire Global
Q4 2020
During the fourth quarter, Aspire achieved an increase in revenues by 37.6%, to €44.4 million, compared to the €32.2 million for the fourth quarter in 2019, mainly driven by strong demand from the B2B segment and the acquisition of BtoBet in September 2020.
Increased revenues led to an increase in earnings before interest, tax, depreciation and amortization (EBITDA) to €8.3 million, up nearly 90% from the €4.4 million in the respective 3-month period for the prior year.
EBITDA margin increased to 18.6% for the quarter, from 13.5% for the fourth quarter in 2019, while earning after tax reached €4.2 million profit, compared to the €11.6 million loss reported by Aspire in Q4 2019. 2020 fourth quarter earnings diluted per share amounted to €0.07.
The number of first time depositors during the quarter increased marginally by 0.3% to 105,900 from the 105,600 for the respective quarter the year prior.
Full Year 2020
For the full calendar 2020, Aspire Global experienced an increase in revenues by 23.2%, to €161.9 million, compared to €131.4 million in 2019. Increased revenues led to EBITDA of €27.1 million, an increase by 24.8% from the €21.7 million posted in the 2019 full year report.
The company achieved an increase in EBITDA margin from 16.5% for the previous year to 16.7% for 2020, and earnings after tax jumped nearly 7 times to €15.0 million, compared to the €1.9 million in 2019. Earnings diluted per share of capital amounted to €0.28.
While the number of first time depositors in Q4 remained almost flat year-over-year, throughout 2020 customers who made their first deposit to experience gaming with Aspire increased by 16.9%, to 519,900, from the announced in 2019 444,500.
Future Outlook
“In 2021, our top priorities are to roll out our sports offering in Europe, Africa and Latin America, and to certify the sports platform for future US deals.”
Tsachi Maimon, CEO, Aspire Global
Prior to the acquisition of BtoBet, sports betting represented a minor part of the company’s revenues, Aspire CEO Maimon outlined, pointing to the significant opportunities for growth in European and Latin American markets.
Maimon further noted Aspire has license applications underway and is seeking to offer its proprietary sportsbook in time for the European Championship.
In the fourth quarter, Maimon continued, BtoBet showed its value in signing tier 1 operators such as Betfair and William Hill in Colombia, to further strengthen Aspire’s position on the continent.
With regards to the US, Aspire had a breakthrough in New Jersey via the partnership between Rush Street Interactive (RSI) and Aspire’s leading game aggregator Pariplay, as the gaming operator already launched a selection of Pariplay’s online casino games in the Garden State. In addition, Pariplay received an interim iGaming supplier license in West Virginia.