Aspire Global today published its 2021 report for the first quarter containing another quarter of record revenues in a trade update and profit before interest, taxes, depreciation (EBITDA) .
Technology solutions provider for the iGaming industry picked up 2021 exactly where it left 2020, posting revenue of € 48.1 million for the quarter, increase by 42. 6% compared to € 33.7 million for the relevant quarter of the previous year. Organic growth for the three months was 35. 6% .
Aspire Global said growth was "driven by strong growth across all segments" as well as the acquisition of a leading provider of sports betting BtoBet in September 2020, which strengthened Aspire Global's portfolio by adding a world-class bookmaker to the Pariplay game aggregation platform acquired in 2019.
In Q1 2021, EBITDA jumped to EUR 8.6 million , up 64. 2% compared to the 2020 reading in the first quarter EUR 5.2 million and the EBITDA margin increased from 15.5% in the corresponding quarter from 2020 to 17.8% now.
After taking into account depreciation, EBIT was EUR 6.5 million , compared with EUR 3.9 million in the first quarter of 2020, an increase by 66. 3% . After paying the tax, Aspire Global made an income of EUR 6.1 million , 140% increase in the result for the first quarter by 2020 2.5 million euros . Diluted per share in share capital, profit settled 0 euro. 13 , increase 160% with 0 EUR. 05 published in the first quarter of 2020.
Commenting on the financial performance, Aspire Global CEO Tsachi Maimon noted that "these consistent results demonstrate Aspire Global's ability to pursue growth and value creation strategies," explaining the group's significant progress with recent developments in the US and UK.
In the US, Aspire Global had its game studio and Pariplay aggregation platform, which received a temporary license from the iGaming provider in the West Virginia in January and then premiered in New Jersey with Rush Street Interactive.
Outside of the reported quarter, in April, Aspire Global signed an agreement with the GAN platform provider to see its impact on Pariplay to expand the platform available to New Jersey, Pennsylvania and Michigan. Aspire Global's CEO noted that the company has already filed applications for availability in Pennsylvania and Michigan.
In the UK, the largest European iGaming market, the company was certified for its betting brand BtoBet, which then signed a strategic partnership with the UK, Ireland and Ghana with Small Screen Casinos to highlight its ability to configure technology to meet operators' specific needs.
CEO Maimon stressed that prior to the acquisition of BtoBet, Aspire Global's sports revenue accounted for only 7.6% total in Q1 2020, while sports accounted for 15.2% total revenue in the quarter.
Aspire Global's Pariplay aggregation platform also strengthened its position in the UK by partnering with the country's largest independent bookmaker, Betfred.