iGaming platform provider Aspire Global has talked up its future growth prospects after reporting a 48% increase in revenue for the quarter ended September 30th. 

Group revenue grew to €28.6m, with a €15.2m contribution from the company’s B2B division (up 51% year-on-year) complemented by a 44% increase from the B2C arm to €13.4m. 

Total deposits made via the B2B platform jumped 54% to €28.8m, with first-time depositors rising to 56,300. B2C, meanwhile, saw deposits rise to €25.8m thanks to a 44% increase in first-time depositors to 40,300. 

Aspire noted that sports revenue grew to more than 10% of total B2C revenue. This, it said, suggested that the strong sportsbook performance seen in Q2 was not a one-off event resulting from the World Cup, and that it had the right infrastructure to grow in the vertical. 

This was reflected in BetRegal, a sportsbook-led operator, migrating to the Aspire platform in October, after the end of the quarter. 

Earnings before interest, tax, depreciation and amortisation also grew strongly in Q3, rising 48% to €6.2m. 

“Aspire Global developed strongly during the third quarter, as we have been doing consistently during the past year as a result of our growth strategy,” Aspire chief executive Tsachi Maimon said. “We see that revenues continue to reach record levels, but more importantly – profitability keeps up with the high pace.”

Operating income for the quarter amounted to €5.7m, with net income up 41% to €4.8m for the quarter. 

For the nine months of 2018 to date, Aspire Global saw revenue grow 36% to €71.7m, with EBITDA rising 40% to €14.6m. 

Maimon noted that the company now expected to meet its financial targets set for 2020, such as growing revenue to €120m, in 2019. As a result the board would revise its targets upwards. 

During the fourth quarter, the company aims to launch between two and four brands on its platform, and is also exploring additional M&A opportunities.