Aspire witnessed a revenue surge of 16% in Q3, achieving €33.2 million (approximately $36.9 million), primarily fueled by the sustained prosperity of its B2B segment.
This segment generated an impressive €21 million, a remarkable 40% leap compared to the corresponding period last year, and now constitutes a substantial 63% of Aspire’s overall revenue. Profits (EBITDA) for the B2B division also experienced a robust 15% growth, reaching €4.3 million, despite the fact that the company’s overall EBITDA declined by 16% to €5.2 million. Following taxes, Aspire reported a profit of €4.4 million, a 17% reduction year-on-year. Regrettably for Aspire, their share price has been on a downward trajectory throughout Q3, commencing at SEK 43 (around $4.50) in July and concluding September at SEK 31.50.
Expanding our view, Aspire’s revenue for the initial nine months of the year reached €99.2 million, a considerable 38% increase compared to the same timeframe last year. The B2B segment played a pivotal role in this accomplishment, contributing 61% of the total revenue. Adding to the positive developments, Aspire secured a license extension in Sweden, effective until 2021, obtained a bingo license from the Gambling Commission, and executed a strategic acquisition of Pariplay for €13.1 million.
Tsachi Maimon, Chief Executive Officer of Aspire Global, remarked on the company’s trajectory, stating, “A key objective for 2019 was to unlock the value of our gaming assets, including through mergers and acquisitions. In early October, we successfully concluded the acquisition of Pariplay, a prominent content provider and aggregator, which is currently being integrated into the Group.”
Pariplay itself has demonstrated strong performance, generating €7.6 million in revenue and €1.2 million in EBITDA during the first nine months of the year. Aspire anticipates that Pariplay will experience significant growth in 2020, making substantial contributions to the group’s EBITDA from the fourth quarter of 2019 onwards.
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