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Aspire Global: Interim Report Third Quarter 2021

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Aspire Global: Interim Report Third Quarter 2021
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REVENUE INCREASED 46% AND EBITDA 38% IN Q3 2021

THIRD QUARTER

  • Revenues increased by 46.0% to €58.6 million (40.1).
  • EBITDA increased by 38.0 % to €9.1 million (6.6).
  • The EBITDA margin amounted to 15.5% (16.4%).
  • EBIT increased by 38.7% to €6.8 million (4.9).
  • Earnings after tax increased 68.1% to €6.4 million (3.8).
  • Earnings per share increased 62.5% to €0.13 (0.08).

NINE MONTHS

  • Revenues increased by 38.2% to €162.4 million (117.5).
  • EBITDA increased by 46.0% to €27.5 million (18.8).
  • The EBITDA margin increased to 16.9% (16.0%).
  • EBIT increased by 45.7% to €21.1 million (14.5).
  • Earnings after tax increased 79.0% to €19.4 million (10.8).
  • Earnings per share increased 77.2% to €0.39 (0.22).

SIGNIFICANT EVENTS IN THE QUARTER AND AFTER THE END OF THE QUARTER

  • Revenues increased 46.0% from Q3 2020 driven by strong development in all segments.
  • Organic growth of 39.0% from Q3 2020.
  • B2B revenues grew 40.5% from Q3 2020 with organic growth of 31.2%.
  • Strong performance in sub-segments Aggregation and Games – Pariplay and Sports – BtoBet.
  • Agreement to sell the B2C segment to Esports Technologies announced 1 October – closing expected by 30 November 2021 upon completion
    of certain contingent terms. The total value of the transaction sums up to about €65 million. The transaction also includes a four-year platform and managed services agreement with an estimated gross value of €70 million.
  • Aspire Global signed a platform deal with Esports Technologies in September for its leading brand Gogawi.
  • Pariplay further strengthened its position in the Americas – first contract in Brazil signed and granted full supplier license in West Virginia.
  • Pariplay signed a deal to provide its proprietary games to Holland Casino in the newly regulated Dutch market.
  • First brand live with BtoBet’s sportsbook on Aspire Global’s platform. To date six brands are already live.
  • Two deals covering Aspire Global’s complete offering signed.

CEO COMMENTS

“WE CLEARLY EXECUTE OUR GROWTH STRATEGY TO BECOME A WORLD LEADING IGAMING SUPPLIER”

With the sale of the B2C segment, Aspire Global will become a clearly focused B2B company and even stronger and more profitable. The sale will also give us additional resources to further develop and enhance our B2B offering as well as the opportunity to explore new M&A activities. In Q3 2021, we have made key progress towards our objective of establishing strong positions in the US and Brazil. Our success in these markets will be important steps in reaching our goal to become a world leading B2B iGaming supplier.

The sale of the B2C segment – expected to take place at the end of November 2021 – will have a significant positive impact on Aspire Global’s position as a focused B2B company and profitability. Excluding the B2C segment, revenues increased by 36.1% to €118.9 million and EBITDA increased by 54.1% to €22.7 million in the first nine months 2021 with an EBITDA margin of 19.1%. B2B organic growth in the nine-month period amounted to 27.1%.

We initiated the review of our B2C segment in March this year, and on October 1 we announced the agreement with US-based Esports Technologies to acquire the B2C segment. The consideration sums up to about €65 million, consisting of €50 million in cash, €10 million in a promissory note and €5 million in common stock in the listed entity of Esports Technologies. The transaction also includes a four-year platform and managed services agreement with an estimated gross value of €70 million, based on present volumes. The transaction is expected to close by November 30, 2021, pending Esports Technologies receipt of financing, and other closing requirements.

A TRANSFORMATIVE, STRATEGIC MOVE

The divestment of the B2C segment is a transformative, strategic move for Aspire Global. First of all, the change in business mix will affect the revenue so that it will consist only of B2B revenues and, at the same time, the share of managed services will increase. The divestment will also provide Aspire Global with additional resources to further develop the technology platform as well as its offering in casino, sports and managed services. The managed services part of our business is essential to us, not only because it is recurring, but also because it will secure our continued deep knowledge about player behaviour. Furthermore, we expect that Aspire Global will have other peers as a focused B2B company and that investors will find it easier to value the company.

Following the divestment, we will also look into M&A possibilities with the aim to control even more of the value chain. Our successful acquisitions of Pariplay in 2019 and BtoBet in 2020 are proof of our ability to identify and integrate companies that complement our offering in the value chain. In the first nine months of 2021, Pariplay has grown by 79.4% to €21.7 million with an EBITDA margin of 27.9%. BtoBet has also demonstrated strong growth of 68.7% to €7.8 million in the nine-month period with an EBITDA margin of 23.1%.

KEY PROGRESS IN THE US AND BRAZIL

The B2C divestment also provides us with increasing opportunities to continue to invest in establishing a considerable position in above all the big and quickly growing Brazilian and US markets. In Q3 2021, we have made key progress in the US and Brazil. Pariplay signed a deal with FansUnite Entertainment, entailing that Aspire Global enters the Brazilian market for the first time. FansUnite is a Canadian sports and entertainment company, and Pariplay will supply its wide portfolio of proprietary and third-party content, via its Fusion™ aggregation platform, to FansUnite’s B2C brands and B2B solutions in Europe and Americas and thereby allows Pariplay to enter Brazil for the first time.

Pariplay also further strengthened its position in Latin America by a deal with the world-famous land-based and online games provider Ainsworth Game Technology. The deal will see Ainsworth partnering exclusively with Pariplay for all new online releases in Latin America, with making its titles available to players through Pariplay’s Fusion™ aggregation platform.

Pariplay reached another milestone in its US expansion strategy during Q3 2021 after being granted a full iGaming Supplier License in West Virginia. Pariplay made its debut in the fast-growing US market when its content went live in New Jersey in February 2021 and Pariplay has applied for licenses in several states.

DEEPER ESPORTS RELATIONSHIPS

We are also proud and happy with the relationship we have established with Esports Technologies. Esports Technologies is a leading global operator and provider of products and marketing solutions in the quickly growing esports market. Beside the B2C deal, we also signed a strategic license agreement with Esports Technologies in Q3 2021. As part of the deal, Esports Technologies will launch its esports/sportsbook Gogawi.com in certain key markets on our platform and intends to launch an additional brand on the platform in the future. In addition, we will make the Esports Technologies proprietary esports feed available to our partners around the world.

Esports Technologies are at a rapid growth phase and aim to become the world’s number one esports company. As part of the B2C agreement, Karamba and our other B2C brands will join our B2B network, and will become one of our biggest B2B partners. I’m sure that the experience and excellence of our B2C team, together with the ambition and investment of Esports Technologies, will take the brands to new heights.

PROFITABLE GROWTH IN REGULATED MARKETS

In the quarter, Germany introduced a new regulation with higher gaming duties. Despite this regulatory change, the EBITDA margin in the B2B segment increased to 18.7% from 18.0% in Q3 2020. This clearly demonstrates Aspire Global’s ability to manage a profitable operation in regulated markets.

In October, the Netherlands opened for online gaming and Pariplay just a few days ago announced a deal to supply its proprietary games to Holland Casino. Holland Casino has a leading presence within the new regulated digital ecosystem in the Netherlands.

OUTLOOK

Aspire Global has consistently demonstrated its ability to execute its growth strategy, reaching its financial targets and create value. We see great growth opportunities by expanding with existing partners, gaining new partners and entering new markets. With the divestment of the B2C segment we will further enhance investments in our technology and product offering as well as geographic presence with focus on Brazil and the US. We will also put even more energy on increasing the M&A pipeline. We clearly execute our growth strategy to become a world leading iGaming supplier.

Tsachi Maimon, CEO.

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7-Eleven selects Jackpot.com as their official lottery partner

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Online Lottery Courier Service Jackpot.com Announces Exclusive Collaboration with 7-Eleven, Inc.

Jackpot.com will serve as the official lottery courier service of 7-Eleven, Inc., initially launching in Ohio and Massachusetts  

Jackpot.com – the online lottery courier service that allows consumers to purchase official state lottery tickets on their phone, tablet, or computer – announced today an exclusive collaboration with 7-Eleven Inc., the largest convenience store chain in the world, to serve as their official lottery courier service.

As part of the collaboration, 7-Eleven customers in Ohio and Massachusetts will be able to sign up and play lottery games and scratchers on the Jackpot.com app or website. The program will initially be launched in over 600 7-Eleven and Speedway stores in Ohio and Massachusetts, with a special launch promotion that gives 7-Eleven customers a free lottery ticket on their first deposit by using promo code, “7Eleven”.

“We’re thrilled to work with 7-Eleven, the leading retailer of lottery tickets in the country,” said Akshay Khanna, CEO and co-founder of Jackpot.com. “Leveraging our technology and innovation, we can provide additional convenience for their customers, while adding an additional source of revenue. A true win-win relationship for all.”

By launching in Ohio and Massachusetts in 2023 and 2024, respectively, Jackpot.com aims at adding another avenue for player convenience with one of the most widely recognized brands in the convenience-retailing space. With a presence in Ohio, the nation’s seventh-largest lottery market, and Massachusetts, whose state lottery produced $1.2 billion in net profit for the Commonwealth during the 2024 fiscal year, Jackpot.com’s collaboration with 7-Eleven represents an added layer of accessibility for players.

Jackpot.com remains committed to responsible play and has significantly invested in protocols by allowing customers of legal age to set spend limits and limits on daily deposits, all while providing access to local and national responsible gambling resources, self-exclusion, self-suspension and automated notifications that offer help should problematic behavior be detected. Jackpot.com is also the only lottery courier service to launch with an iCap certification from the National Council on Problem Gambling.

To learn more, visit jackpot.com. First-time users can also download the official Jackpot.com Lottery App on the iOS or Android App Stores, where available.

 

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eSports

The World Esports Summit 2024 Is Here!

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The IESF World Esports Summit returns this December to Busan, South Korea. Hosted at the Busan Esports Arena (BRENA) from December 5-6, the Summit will bring together prominent figures from Esports, global brands, government officials, and sports executives for a deep dive into the current Esports trends, its rapid transformations, and future challenges.

This year’s theme, “Building Bridges, Not Barriers, Through the Power of Esports,” will highlight the role of Esports in uniting cultures, ideas, and industries. Under the slogan “We Empower Success,” the

Summit provides a great platform for Esports experts to engage in meaningful discussions and sessions, sharing their insights on trends and presenting forward-looking ideas for our industry.

The event, strategically timed at the close of the competitive season, presents a perfect environment for reflection on the year’s biggest events, industry shifts, and the next steps for Esports. Attendees can follow the expert’s perspectives on topics like:

  • (R)Evolution in Esports
  • East Meets West
  • Esports Integrity: The Role of Referees
  • The Rise of International Esports Competitions
  • (In Korean) Korea’s Secret Sauce etc.

Also, featured at this year’s event are the IESF World Esports Training Camp and the World Esports Referee Academy.

These are very important IESF programs that are aimed at advancing the skills and professional standards of the next generation of Esports leaders.

Join us in Busan for two days designed to inspire, connect, and empower the international Esports community.

Registration for the World Esports Summit is free and open to all interested attendees.

To register, please complete our online registration form: iesf.formstack.com/forms/wes2024_participation_registration

See you in Busan!

 

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eSports

Akhil Sarin CMO at Easygo named as key note at ICE Esports Conference

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Clarion Gaming has confirmed that Akhil Sarin CMO at Easygo, the technology powerhouse behind the success of global brands Stake and Kick will headline the Esports & Games Conference (EGC) taking place on 21 January as part of the ICE Barcelona experience.

As a key member of the executive team, Akhil Sarin has been instrumental in securing the high-profile partnerships that have accelerated Stake’s growth, including the Stake F1 team, UFC, Drake, and Premier League Everton FC.

Through these strategic alliances he has amplified Stake’s brand presence at the same time as creating unique, immersive player experiences, in the process setting new industry benchmarks.

Announcing the high profile speaker Will Harding, Head of Esports at Clarion Gaming said: “Securing Akhil Sarin as EGC  key note at ICE Barcelona represents a remarkable opportunity for our attendees to gain invaluable insight into cutting-edge strategies in digital and influencer marketing .

“Akhil’s expertise with Stake and Kick.com embodies the forward-thinking, innovative approach that defines the digital marketing landscapes. His participation underscores the calibre of knowledge-sharing that we are  committed to delivering at ICE and he is sure to both inspire our attendees and elevate their strategic perspective.” 

Looking ahead to ICE Barcelona, Akhil Sarin stated:  “Collaborating with Clarion Gaming at ICE Barcelona is an exciting opportunity to showcase Stake’s journey and continued focus on bold partnerships and creative marketing strategies that resonate with audiences.”

He added “The EGC is a vital platform for exchanging transformative ideas and shaping the future of gaming and entertainment. I look forward to discussing Stake’s vision and collaborating with industry leaders to inspire growth and innovation across the sector.”

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