Aspire notes ‘key progress’ in North America as Q1 revenues soar

Aspire Global CEO, Tsachi Maimon, has lauded the ‘strong position’ the company has made in obtaining the relevant certifications to establish itself in North America in Q1
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Aspire Global CEO, Tsachi Maimon, has lauded the ‘strong position’ the company has made in obtaining the relevant certifications to establish itself in North America in Q1.

Publishing its interim report for the first quarter of 2022, Aspire highlighted that securing GLI-19 certification for its US and Canada expansion will ‘enable’ the launch of its platform, sportsbook and managed services in the region. 

On North American progress, Maimon remarked: “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.”

Revenues for the quarter increased by 31.7% YoY to $48.7m, attributed to the ‘progress’ made in North America and the addition of tier-1 operators to its client list in its various European markets.

Profitability improved throughout the quarter as EBITDA increased by 18.7% to $8.6m with an EBITDA margin of 17.8% compared to 19.7% in Q1 of 2021. Furthermore, EBIT was favourable compared to Q1 last year with a 13.6% increase to $5.9m, whilst earnings per share remained constant at $0.11.

Maimon commented on the company’s performance: “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.

“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.”

A key event from Q1 was the offer placed by NeoGames to acquire the company for SEK 111 per share. Maimon noted that the acquisition will ‘generate significant long-term value by creating synergies and capitalizing on the key strengths of the entities’. 

Finally, Aspire made steps to become an exclusively B2B organization by divesting its B2C division. 

Concluding his message to stakeholders, Maimon stated: “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.”