Aspire Global sees 26% increase in yearly revenue
Pariplay platform also acquired for €13.3 million
Aspire Global’s recently released yearly report for the year ending December 2019 said that the company saw an increase in yearly revenue of 26%, up to a total of €131.4 million.
This dramatic increase from €104.6 million was followed up by further increases in B2B revenues of 43.4% to €81.1 million, which constituted 62% of total revenues. EBITDA increased by 2.4% to €21.7 million, and EBITDA for B2B increased by 29% to €15.9 million, constituting 73.4% of total EBITDA.
Earnings after tax for the iGaming solutions provider amounted to €0.4 million. This total was impacted by a tax settlement of €13.7 million related to the fiscal years 2008-2018.
Perhaps one of the more eye-catching events to take place was the acquisition of the leading game aggregator platform Pariplay for €13.3 million in cash on October 7th, according to initial conditions.
Tsachi Maimon, CEO at Aspire Global.“With the acquisition Aspire Global has gained control of yet another crucial part of the iGaming value chain – creating synergies, broadening the game portfolio and providing a channel to distribute propriety games outside the partner network,’ the statement explained.
In the beginning of November, they also announced that they will be entering into the regulated US market as Pariplay signed an agreement for New Jersey with longstanding partner 888casino.
Tsachi Maimon, CEO at Aspire Global, said that the aforementioned results have proven that their strategy is efficient, and that they have a solid foundation to continue to expand their business through organic growth and M&A.
“We had a somewhat disappointing last quarter of the year due to new regulatory requirements in regulated markets, such as the UK, as well as markets to become regulated. Compliance is top on our agenda and we swiftly adapt to new regulatory requirements, knowing that our longer-term benefits are larger than the short-term impact.
“Our settlement with the Israeli tax authorities had a significant impact on net income and EPS in the quarter. Nonetheless, I am satisfied with the settlement as it provides the market with clarity around the outcome of the audit. The additional tax charge of €13.7 million is reported as a one-off tax item.”
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