Aspire closes on double digit year-on-year growth after Q3 success

Aspire closes on double digit year-on-year growth after Q3 success

Friday, November 24, 2017 Posted by Luke Massey
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The platform provider increased revenues by 26% to €19.3 million

Aspire Global has taken a big step towards achieving double digit year on year (YOY) growth after confirming a revenue increase of 26% in Q3 2017 (July to September).

As part of this overall revenue jump from €15.3 to €19.3 million, the established casino platform provider posted B2B revenues of €10.1 million, an increase of 31% from the corresponding quarter in 2016, while EBITDA climbed 44% from €2.9 to €4.2 million.

Aspire Global CEO Tsachi Maimon commented: "I am pleased to report yet another quarter of strong growth in both revenue and profit; quarter on quarter as well as year on year. We have also expanded our customer base, complementing original key accounts with several new partnerships that have quickly reached sizable levels.

“As we execute on our strategy; broadening our offering with new verticals (sport) and entering new regulated markets through strong local partnerships, we are well on our way of reaching double digit growth year-on-year.”

The company also secured an eye-catching end to the quarter after signing a partnership to enter the newly regulated Portuguese market with Cofina, one of the largest media groups in the country. The initiative is in line with Aspire’s long term strategy to focus on strong partnerships in regulated markets.

Maimon added: “We are currently monitoring the development in Portugal and the upcoming launch of Sportsbook, while preparing to enter additional regulated countries as they become accessible. We continue to look actively for acquisition opportunities and new projects, allowing us to migrate popular casinos to our own platform or leverage our strong position in new profitable ways.”

This desire for new profitable ventures is exemplified by the 40% acquisition of Mr. Play, a new fully regulated casino and sports betting brand. Aspire Global will provide the technology and become a material shareholder, backing the new company with up to €2 million along with various investors.

Totally Gaming says: It is an exciting time for Aspire Global, as the company revels in its Q3 successes and the imminent launch of its new sports betting product. Moving forward, Aspire believes that entering new regulated markets will boost revenues even further and help to sustain the significant rise in first time depositors (40% increase to 63,900 in Q3).

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