Aspire Global Q3 revenues rise 16% on B2B spike

Malta-headquartered Aspire Global has reported a 16.2% year-on-year increase in Q3 2019 revenues to €33.2m (£28.6m), driven by growth in its B2B division.

Aspire’s B2B revenues increased 37% year-on-year to €21m, contributing 63% of all business revenues accrued during the quarter.

However, revenues from its B2C arm, which encompasses the Karamba brand, fell by 8% year-on-year to €12.2m from a previous Q3 2018 high of €13.3m, contributing the remaining 37% of Aspire’s Q3 revenues.

Aspire said it expects these B2C revenues to return to growth in Q1 2020.

The firm’s B2B EBITDA jumped 15% year-on-year to €4.3m, but overall EBITDA decreased by 16% to €5.2m.

The EBITDA decline was attributed to higher marketing expenditure in its B2C arm following expansion into several new markets outside the EU.

The number of first-time depositors increased by 24% during the quarter to 119,900 players.

Aspire Global CEO Tsachi Maimon said he was pleased with the period of “sustained growth” the business had achieved over the last two years, despite lower activity in the UK market and the absence of a World Cup.

“Nonetheless, during the two years that passed since the IPO, we have managed to double our revenues and EBITDA, demonstrating a sustained and profitable growth pattern for our shareholders,” Maimon added.

During the quarter, Aspire Global’s casino brand Mr.play launched its debut sportsbook, with the company also receiving a UK bingo licence from the UK Gambling Commission.

Aspire has confirmed it is looking to launch its first bingo product in the UK market over the coming year and is also targeting a launch of its sportsbook in Denmark.

In addition, the company finalised its €13.1m acquisition of fellow operator Pariplay, with the effects of this acquisition expected to register in Aspire’s Q4 revenue figures.

Last week, Pariplay entered into an agreement with 888casino which will see Aspire Global expand into the US market for the first time.