The iGaming solutions provider Aspire Global chose to focus on its B2B operations, which immediately improved the company’s performance, as indicated in its latest interim report.
Aspire Global Had Impressive 2021 Results
The company’s success in 2021 was significant. Aspire saw a 14.7% increase in its Q4 revenues and a 29.2% annual EBITDA growth.
The company’s most notable growth was in the UK and Ireland betting markets, where it saw a whopping 122.2% increase. Aspire Global was also very successful outside of Europe, with its rest of the world earnings increasing more than twofold thanks to its extended presence in Africa and the Americas.
During the fourth quarter of 2021, Aspire took a blow from the restructuring of several European markets, which negatively impacted its income from the Rest of Europe – something that other companies in the sector felt as well.
Despite that, the year proved fruitful, earning the company a total of $242 million – a 31.8% year-on-year increase compared to 2020.
According to Aspire itself, this success is thanks to its decision to sell its business-to-customer business to Esports Technologies and focus primarily on B2B operations. Tsachi Maimon, the chief executive of Aspire Global, elaborated:
“By this streamlining of the business, we not only become stronger but also more profitable. During the year, excluding the B2C segment, revenues increased by 31.5% to €158.3 million and EBITDA increased by 45.2% to €30.4 million in 2021 with an EBITDA margin of 19.2%. B2B organic revenue growth in 2021 amounted to 26.6%.”
Aspire Global CEO Tsachi Maimon
Maimon Insists the NeoGames Acquisition is the Right Path
The CEO congratulated his team on successfully achieving and surpassing the company’s revenue goals. He noted that Aspire Global is now a B2B-focused company that is in a great position for further growth.
Maimon added that he is happy with the results of its proprietary sportsbook, BtoBet, and is delighted to see Pariplay grow and reach new markets. The brands saw 44.2% and 60.1% increases in revenue, respectively.
The CEO urged its stakeholders to back NeoGames’ takeover bid amid a favorable growth period. The offer was initially put forward by NeoGames on January 17 this year. The proposal envisions NeoGames paying $465 million to acquire Aspire Global’s business. While the latter agreed to the deal, it is still awaiting shareholder approval.
“We are now looking forward to the next step in our journey, and I am very excited by the opportunities the combination of Aspire Global and NeoGames offers,” Maimon said.
He added that should the deal receive shareholders’ favor, Aspire Global will become a new iGaming division within NeoGames. Maimon promised that this merger would be beneficial to all parties involved as it will help Aspire and NeoGames combine their key strengths, which will deliver more value to the shareholders.
“Not only is this a strategic fit, but it is also a strong cultural fit, as significant parts of both management teams worked together extensively during NeoGames’ inception,” he added.