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Aspire Global: Interim Report First Quarter 2022

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Aspire Global: Interim Report First Quarter 2022
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RECORD HIGH REVENUES OF €46.3 MILLION IN Q1 2022

  • Revenues increased by 31.7% to €46.3 million (35.2).
  • EBITDA increased by 18.7 % to €8.2 million (6.9).
  • The EBITDA margin amounted to 17.8% (19.7%).
  • EBIT increased by 13.6% to € 5.6 million (4.9).
  • Earnings after tax increased by 4.7% to €4.8 million (4.5).
  • Earnings per share amounted to €0.10 (0.10)

*B2C as discontinued operations in Q1 2021 and based on net royalties during Q1 2022.

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

  • GLI-19 certification received for launch of Aspire Global’s broad offering in the US and Canada.
  • The complete offering licensed in the Netherlands.
  • Key platform and managed services deals with BoyleSports for the Netherlands, with ITSP for Germany and with esports operator WIN Group.
  • Pariplay gained license in Ontario and provisional license in Michigan.
  • Pariplay signed multi-state deal with US operator Golden Nugget and agreement to supply its content to Alberta Gaming.
  • Aspire Global awarded sports betting license in Denmark.

UPDATE ON THE PUBLIC TENDER OFFER MADE BY NEOGAMES

  • On 17 January 2022, a public tender offer was made by NeoGames to the shareholders of Aspire Global to tender all their shares in the Company to NeoGames. An offer document regarding the Offer was published on 26 April 2022. The acceptance period for the Offer commenced on 27 April 2022 and ends on 25 May 2022. The expected settlement date is around 14 June 2022.

KEY FIGURES

CEO COMMENTS

“ASPIRE GLOBAL HAS CLEARLY ESTABLISHED ITSELF AS A LEADING IGAMING SUPPLIER IN REGULATED MARKETS”

We have a continued strong business momentum and the quarterly performance once again demonstrates the strengths of our offering and the capabilities of our highly motivated team. Aspire Global has set new records in the quarter with revenues of €46.3 million and EBITDA of €8.2 million. I´m especially proud to see the progress we have made in the quarter in North America as well as in regulated European markets by adding tier 1-operators to our client list and being awarded additional certifications. Aspire Global has clearly established itself as a leading iGaming supplier in regulated markets.

Today, after the divestment of the B2C segment in December 2021, Aspire Global is a clearly focused B2B company. It should be noted, that the numbers we provide in this report have been calculated on a discontinued basis and the divested B2C operation is reported as a B2B partner and also based on proforma basis for the comparison period according to the agreed commercial terms. We hope this transparency will help to increase the understanding of the development of our B2B operation.

STRONG COMBINATION WITH NEOGAMES

A key event in the quarter is of course the offer by NeoGames to Aspire Global’s shareholders. Aspire Global’s entire operations will form a new iGaming division within NeoGames. Together, our companies will generate significant long-term value by creating synergies and capitalizing on the key strengths of the entities by positioning them for expansion in both new and existing markets. We look forward to being a part of NeoGames and I’m very excited about our promising growth opportunities in this new strong business combination.

With a revenue growth of 31.7% in the quarter, driven by the strong business momentum, we have further strengthened our market position. In the quarter, Aspire Global has made significant progress in key targeted markets by signing partnership agreements with tier 1 operators and entering new regulated markets. This is a confirmation that our growth strategy is effective.

With a total of five deals signed for our Core platform (PAM) in the period, we have gained clear proof that new tier 1 operators are choosing Aspire Global’s full suite of products covering the PAM, games, sports and managed services. Our complete offering is now licensed in the Netherlands and already in the first quarter, we signed three deals with tier 1 operators for their Dutch rollout. The two other turnkey platform deals relate to the newly regulated German market and the overall .com-market.

READY FOR BROAD NORTH AMERICAN LAUNCH

Aspire Global has also made key progress in North America by obtaining the Gaming Labs International certification standard, GLI, for our offering. This enables us to launch our platform, sportsbook and managed services to the US and Canadian markets. We are now in a strong position to establish Aspire Global as a leading iGaming provider also in North America.

It is worth mentioning that Aspire Global is already established in North America through Pariplay, the leading content and aggregator provider, whose games are licensed in Michigan, New Jersey, West Virginia and Ontario. Pariplay has recently signed a number of deals in the US with operators or distributors such as Rush Street Interactive (RSI), Golden Nugget Online Gaming, Inc., PlayUp Group, Amelco, BetMGM and GAN. Pariplay is live with BetMGM as of March 2022 and excited by the opportunities the two parties have identified.

Pariplay will also together with NeoPollard Interactive LLC offer a wealth of gaming content on Play Alberta, the only regulated gambling website in Canadian Alberta. In total, Pariplay signed 17 new customers in the quarter, among all with operators in our targeted markets in North America and Latin America, an impressive advancement. Pariplay reported revenue growth of 39.0% in the quarter.

BtoBet, our proprietary sportsbook provider, also made significant progress in the quarter by being awarded certification in Denmark along with the GLI-certification for the North American market. In the quarter, BtoBet reported revenue growth of 88.3% and five new brands were launched on BtoBet’s sportsbook platform.

SAFEGUARDING OUR EMPLOYEES IN UKRAINE

With 118 employees in Kiev in Ukraine, the war has come very close to us. Our Ukrainian employees have all been part of our team for a long time and we have fortunately been able to ensure their and their families’ safety. In the quarter, we chose to terminate our contract with the National Russian Lottery’s operator Sports Lotteries LLC. The contract was announced in October 2020 and the termination have had immediate effect.

NEXT STEPS

Aspire Global was introduced on Nasdaq First North Growth Market in July 2017 and the offer by NeoGames proves the value the company has created over these four and half years. NeoGames’ bid of SEK 111 per share means that Aspire Global’s share has increased by 270% since the introduction on Nasdaq First North Growth Market. The offer by NeoGames, a technology-driven provider of end-to-end iLottery solutions, is a natural step for Aspire Global and a strategic fit.

Aspire Global is today clearly positioned as a leading iGaming supplier in regulated markets. As part of the NeoGame’s Group, Aspire Global will continue to take advantage of its key strengths. Beside the cutting-edge, technology advanced offering, and skilled teams, Aspire Global’s foremost asset is the long-term commitment to its partners. On top of our agenda is always the success of our partners and our ability to support in the fulfilment of their potential. Through our strong partnerships with leading operators and distributors, we will continue to build long-term value.

Tsachi Maimon, CEO.

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Ixia launches $20 million global gaming venture Fund and Studio

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Ixia launches $20 million global gaming venture Fund and Studio
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Ixia Capital, a venture capital fund and studio, has launched with an investment of $20 million focused on high-growth companies across gaming, esports, digital assets, and complementary technologies.

The fund has been founded by partners with deep firsthand iGaming industry experience, enabling entrepreneurs to realise innovative ideas, technologies, and transform business models into profitable companies.

Ixia Capital is a global fund with a focus in India, Africa and UAE where the mission is to accelerate development and manage risks to help ventures succeed in specialised fields. The fund is based in the Cayman Islands, while the Ixia Studio is headquartered in the USA.

Ixia Capital CEO and Venture Partner Mona Motwani, said: “It’s a proud moment for us to officially launch Ixia Capital. Our mission is partnering with driven entrepreneurs to equip them with resources, expertise, exposure and capital that allow them to build the best ideas into great companies. Through this hands-on approach, Ixia is all about accelerating ideas and mitigating risks.”

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SPOTLIGHT SPORTS GROUP AGREES NEW DEAL WITH HONG KONG JOCKEY CLUB

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SPOTLIGHT SPORTS GROUP AGREES NEW DEAL WITH HONG KONG JOCKEY CLUB
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Spotlight Sports Group (SSG), a world-leading technology, content, and media company specialising in sports betting, has signed a deal to extend a multi-year agreement with the Hong Kong Jockey Club (HKJC).

The long-term partnership, powered by the Racing Post, will promote Hong Kong racing to a worldwide audience through the provision of full racecards for the Hong Kong Jockey Club meetings at Sha Tin and Happy Valley, editorial and tipping content. The partnership will also enable free-to-view live streams and replays of all Hong Kong racing via Racing Post digital platforms.

The collaboration also sees the promotion of the HKJC’s World Pool initiative, specifically with editorial, tipping and signposting of World Pool meetings. Spotlight Sports Group is delighted to have this agreement in place before Royal Ascot, a meeting that not only features high-class horse racing, but five days of World Pool betting.

James Fitzpatrick, Account Director for B2B Content Services at Spotlight Sports Group, said: “The Hong Kong Jockey Club is one of our key partners and I’m delighted we will be continuing our relationship. Extending this deal ahead of Royal Ascot will allow us to continue to promote World Pool days to a global audience during one of the biggest international meetings of the year.”

The view was shared by Michael Fitzsimons, Executive Director, Wagering Products of the HKJC: “The HKJC and Racing Post are two of the most powerful and respected brands in the horse racing industry and we can see many great opportunities to work together to achieve our goals and longer-term vision throughout the life of the agreement.”

 Spotlight Sports Group aims to support the global betting, horse racing and fantasy sports industries.

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EGT’s Gods & Kings Link with first installation in Bulgaria

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EGT’s Gods & Kings Link with first installation in Bulgaria
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EGT’s jackpot Gods & Kings Link made its debut in Bulgaria. The first local gaming establishment to install the product is the largest casino in the country GoldenEye, located in Svilengrad.

“We are very happy to once again have the opportunity to support our partners from GoldenEye by providing them with one of the latest developments from our slot portfolio,” commented Biserka Draganova, Sales Manager for the Balkans and Egypt at EGT. “The fact that out of a total of 500 machines in the casino, 320 are EGT’s is a testament to the great confidence they have in us, and I believe that Gods & Kings Link will show the excellent results expected from it.”

The product is currently available on several cabinets of the G 50 J2 St model, and will be installed on more by the end of June. Gods & Kings Link has 4 levels of jackpot: Minor and Mini, that are fixed for each machine and Grand and Major, which are progressive and can be won with every bet made on any of the 4 games Rise of Ra, Olympus Glory, Ape of luck and Glorious Alexander. The Grand and Major levels are common with EGT’s bestseller jackpot Bell Link, thus creating even greater chances for wealth.

Gods & Kings Link has definitely caught the attention of our customers and in the short period of time we’ve been offering it, we’ve seen a lot of interest in it,” said Mert Caliskan, Casino Operation Director. “The titles in the mix are extremely interesting and provide lots of bonuses and fun during play. This in combination with the possibility of getting even bigger winnings thanks to the connection to Bell Link, which is very popular in our casino, is a guarantee that this will be another very successful EGT product.”

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