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Sportradar Reports First Quarter Results

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Sportradar Group AG (NASDAQ: SRAD) (“Sportradar” or the “Company”), a leading global sports technology company focused on creating immersive experiences for sports fans and bettors, today announced financial results for its first quarter ended March 31, 2025.

Carsten Koerl, Chief Executive Officer of Sportradar, said: “We had a strong start to the year with record quarterly revenue as we delivered broad-based growth across our leading product suite and diverse global footprint, while expanding margins and cash flow. The continued momentum we are generating builds upon our success from last year, demonstrating the durability of our business and our mission critical role in the expanding sports ecosystem. During the quarter we also further bolstered our leading content portfolio with the extension and expansion of our partnership with Major League Baseball and we signed an agreement to acquire IMG ARENA’s sports betting rights portfolio. We are excited by the unique opportunities these valuable properties will provide to our customers and look forward to generating additional value for our shareholders in 2025 and beyond.”

FIRST QUARTER FINANCIAL RESULTS

Revenue

Three-Month Period Ended
March 31,
in € thousands (unaudited) 2025 2024 Change %
Revenue by product
Betting & Gaming Content 193,807 171,588 22,219 13 %
Managed Betting Services 56,214 48,328 7,886 16 %
Betting Technology & Solutions 250,021 219,916 30,105 14 %
Marketing & Media Services 46,610 34,278 12,332 36 %
Sports Performance 11,411 9,306 2,105 23 %
Integrity Services 3,189 2,394 795 33 %
Sports Content, Technology & Services 61,210 45,978 15,232 33 %
Total Revenue 311,231 265,894 45,337 17 %
Revenue by geography
Rest of World 225,130 200,332 24,798 12 %
United States 86,101 65,562 20,539 31 %
Total Revenue 311,231 265,894

Total revenue for the first quarter was €311 million, up €45 million, or 17% year-over-year, driven by 14% growth in Betting Technology & Solutions and 33% growth in Sports Content, Technology & Services.

Betting Technology & Solutions revenues of €250 million were up 14% year-over-year primarily driven by a 13% increase in Betting & Gaming Content primarily from customer uptake of additional products and from U.S. market growth. Managed Betting Services revenues were up 16% driven by strong growth in Managed Trading Services from increased turnover and higher trading margins.

Sports Content, Technology & Services revenues of €61 million increased 33% year-over-year primarily driven by 36% growth in Marketing & Media Services led by higher ad:s revenue as several sportsbooks increased spending on marketing campaigns, and from contributions from the expansion of our affiliate marketing capabilities.

The Company generated strong revenue growth globally with Rest of World up 12% and the United States up 31%. As a percentage of total Company revenues, United States revenue represented 28% of total Company revenue in the first quarter as compared to 25% in the prior year quarter due to continued market growth and additional customer uptake of our products.

Customer Net Retention Rate of 122% further demonstrates our ability to cross-sell and up-sell to our clients, as well as the market growth in the United States.

Profit for the period

Profit for the period was €24 million, up €25 million, compared to a loss of €1 million in the same quarter a year ago, driven by strong operating results and a foreign currency gain of €28 million in the quarter as compared to a €14 million loss last year, due to unrealized currency fluctuations mainly associated with the U.S. dollar-denominated sport rights. These increases were partially offset primarily by higher share-based compensation and amortization of capitalized sport rights licenses expenses compared with the first quarter a year ago.

Adjusted EBITDA

First quarter Adjusted EBITDA was €59 million, up €12 million, or 25%, compared to €47 million in the same quarter a year ago. The increase was largely driven by the 17% revenue growth, partially offset by increased sport rights costs primarily related to the continued success of the ATP partnership deal, higher purchased services driven by investments in developing our product portfolio and increased personnel expenses to support growth initiatives.

Business Highlights

  • Announced agreement to acquire IMG ARENA and its global sports betting rights portfolio. Following receipt of regulatory approvals and the closing, which is currently anticipated to take place in the fourth quarter of 2025, IMG ARENA’s portfolio is expected to enhance Sportradar’s content and product offering and further strengthen its strategic position as a leading content provider in the most bet upon global sports, including tennis, soccer and basketball.
  • Announced the extension and expansion of our partnership with Major League Baseball (“MLB”) for 8 years, beginning with the 2025 season. Sportradar will exclusively distribute ultra-low latency official MLB data, media content, including MLB Statcast Data, and audiovisual content across our global client network. Additionally, Sportradar and MLB will collaborate on the creation of AI-driven products powered by player tracking data to create immersive, hyper-personalized fan experiences.
  • Expanded Alpha Odds, Sportradar’s AI-enabled premium odds calculation and risk management solution, into cricket, a sport that generates an estimated €80 billion in global betting turnover annually.
  • Signed multi-year partnership with the Brazilian Volleyball Confederation (CBV) to safeguard CBV competitions from corruption and match-fixing through Sportradar’s Universal Fraud Detection System (UFDS), and to supply metrics and dynamic visualizations for coaching teams.
  • Extended long-standing partnership with the Brazilian Football Confederation (CBF). Sportradar will deliver integrity monitoring for more than 8,200 men’s and women’s matches organized annually by the CBF, now including all Brazilian national championships.

Balance Sheet and Liquidity

The Company’s cash and cash equivalents were €358 million as of March 31, 2025 as compared with €348 million as of December 31, 2024. The increase was primarily driven by net cash generated from operating activities of €102 million due to the strong operating performance, partially offset by net cash used in investing activities of €66 million, primarily from the acquisition of additional sport rights and from net cash used in financing activities of €19 million, due primarily to share repurchases related to employee stock grants. Free cash flow for the first quarter was €32 million, an increase of €32 million compared to the same period a year ago.

Including its undrawn credit facility, the Company had total liquidity of €578 million at March 31, 2025 as compared to €568 million as of December 31, 2024, and no debt outstanding.

2025 Annual Financial Outlook

Sportradar reiterated its fiscal 2025 outlook as follows:

  • Revenue of at least €1,273 million, representing year-on-year growth of at least 15%
  • Adjusted EBITDA of at least €281 million, representing year-on-year growth of at least 26%
  • Adjusted EBITDA margin expansion of at least 200 basis points
  • Free cash flow conversion1 rate above the 2024 level of 53%

The 2025 guidance does not include any impact from the pending acquisition of IMG ARENA given the uncertainty around the timing of close. Guidance will be updated to incorporate the anticipated uplift resulting from this acquisition following the closing of the transaction.

Share Repurchase Plan

In March 2024, the Board of Directors approved a $200 million share repurchase plan. As of May 9, 2025 the Company has repurchased 4.8 million shares under the plan for a total of $86 million, including 3.0 million shares in conjunction with the recently completed secondary offering.

Conference Call and Webcast Information

Sportradar will host a conference call to discuss the first quarter results today, May 12, 2025, at 8:30 a.m. Eastern Time. Those wishing to participate via webcast should access the earnings call through Sportradar’s Investor Relations website. An archived webcast with the accompanying slides will be available at the Company’s Investor Relations website for one year after the conclusion of the live event.

The post Sportradar Reports First Quarter Results appeared first on European Gaming Industry News.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Groove Technologies and BetOnGames Forge Strategic Partnership

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In a landmark move, platform and aggregator Groove Technologies has announced a strategic partnership with BetOnGames, the RNG game provider arm of BETCORE. This collaboration brings together Groove’s enterprise-grade platform, boasting over 15,000 games from 150+ top-tier providers, and BetOnGames’ lightweight, high-performing content, optimised for real-world conditions.

The alliance promises to deliver unparalleled scalability, engagement, and profitability for operators worldwide.

Groove’s cutting-edge platform is renowned for its precision, scalability, and advanced player engagement tools, making it a powerhouse for operators who demand excellence. By integrating BetOnGames’ portfolio featuring 100+ fast-loading, low-data titles across slots, crash, and instant-win formats, Groove further solidifies its position as the go-to solution for diverse markets, including regions with limited internet coverage.

Rachel Tourgeman, Head of Partnerships at Groove, emphasised the strategic value of the partnership: “BetOnGames’ adaptability and high-converting content perfectly complement Groove’s mission to deliver unmatched performance for operators. Their lightweight design, multilingual UI, and seamless payment integrations, including UPI, QR-wallets, and crypto, make them an ideal partner for both emerging and mature markets. Together, we’re setting a new standard for player engagement and operational efficiency.”

BetOnGames has built a reputation for reliability, offering RNG-certified titles with competitive RTPs (96–97%) and 24/7 technical support. Popular titles like Aerobet (crash-style, 97% RTP), 100 Mega Hot (classic slot, 97.12% RTP), and Bicho da Sorte 25 (lottery-style, 92.26% RTP) cater to a broad spectrum of player preferences, ensuring high retention and conversion rates.

Peter Korpusenko, CEO of BETCORE, highlighted the significance of the collaboration: “Partnering with Groove allows us to expand our reach exponentially while maintaining the speed, fairness, and lightweight efficiency that define BetOnGames. Groove’s robust backend and analytics tools empower operators to maximise our content’s potential, driving growth in even the most competitive markets.”

With full licensing under the Curaçao Gaming Control Board, integrated responsible gaming tools, and AML compliance, BetOnGames provides a secure and scalable foundation for operators. Combined with Groove’s industry-leading platform, the partnership ensures seamless onboarding via Groove’s single-API, optimised cash flow, and data-driven decision-making.

As iGaming continues to evolve, Groove and BetOnGames are poised to lead the charge, delivering a dynamic, player-centric experience that transcends borders and technical barriers. For operators seeking a competitive edge, this collaboration represents the future of iGaming today.

Yahale Meltzer, Co-Founder and COO at Groove, underscored the long-term vision: “This partnership isn’t just about adding games, it’s about enhancing ecosystems. BetOnGames’ performance in low-bandwidth environments and localised payment options align perfectly with our commitment to inclusivity and innovation. Together, we’re not just meeting operator needs; we’re anticipating them.”

The post Groove Technologies and BetOnGames Forge Strategic Partnership appeared first on European Gaming Industry News.

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Week 37/2025 slot games releases

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Here are this weeks latest slots releases compiled by European Gaming

Leroy wakes up every day with a smile on his face! Why you may ask? Well executing is a dirty job but Leroy just loves to swing his axe in Nolimit City’s latest release, Dead Men Walking. The chopping block features a 3-3-3-3-3reel setup with three Fire Pits above the reels each linked to a unique base game feature.

Amusnet has released 100 Art of Gold. This new online casino release brings together the elegance of art and the dynamic feel of modern slot design. Built on a 5-reel layout with 100 fixed paylines, the game stands out with its refined aesthetic and carefully crafted details.

 

Play’n GO heads skyward with Rosy Orbit Treasure Turn™, a radiant slot where gravity is optional and innovation is key. A mysterious princess, a faithful fox, and a cherished rose – Play’n GO blends character-driven charm and fresh mechanics in Rosy Orbit Treasure Turn™.

Burning Classics 2 is here to ignite your winnings with all the fiery thrills of the original, plus even hotter rewards. The sequel to Booming Games’ most popular game, Burning Classics, keeps the classic 5×3 grid and 20 variable paylines, along with the iconic stacked symbols, including stacked wilds.

Blueprint Gaming™ takes one of its strongest internationally performing series to new heights in Cash Strike Hotstepper 2, with Super Strike and mystery symbols among the new additions designed to elevate the gameplay experience on offer.

BGaming is excited to announce the launch of Bonanza Trillion, the highly anticipated sequel to the hit slot, Bonanza Billion. The game builds on the success of its predecessor while also upping the ante with a range of captivating features, enhanced visuals, and higher volatility. Bonanza Trillion upgrades the classic fruit and crystal theme that players loved from the original title.

Step into the heart of the untamed frontier in Bison Moon – Power Combo, a slot from Northern Lights Gaming that captures the rugged beauty and boundless thrill of the Great Plains with plenty of big wins in store. This action-packed slot introduces the provider’s latest mechanic, Power Combo, where three unique Scatters unlock incredible bonus features via its proprietary Link&Win feature.

The vast plains are alive with the sound of rampant hooves, the roar of predators, and helpful animals along the way. ELA Games proudly presents its latest release, Buffalo Force, an energetic game that celebrates the sheer power of nature.

 

Spinomenal is welcoming players to ascend to Valhalla with its latest mythology-inspired slot, Majestic Odin. The game joins Spinomenal’s hugely popular Demi Gods series. Majestic Odin is set against a breathtaking Nordic landscape of towering mountains, deep fjords, and glowing torches that frame the game with mythic grandeur.

 

The post Week 37/2025 slot games releases appeared first on European Gaming Industry News.

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GR8 Tech’s Bet It Drives Wraps Season 1 with Stephen Crystal—From Las Vegas Legends to Global Gaming Leadership

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GR8 Tech’s drive-time podcast Bet It Drives closes out its debut season in the fast lane with Stephen Crystal, Founder of SCCG Management and a 30+ year veteran of the gaming world. From reshaping tribal and riverboat gaming to owning iconic Las Vegas casinos and driving more than $3 billion in finance, M&A, and technology projects, Stephen has spent his career at the center of the industry’s biggest moves.

In the passenger seat with host Yevhen Krazhan, GR8 Tech’s CSO, Stephen takes listeners from the glitter of Vegas to the global stage—where he has advised 120+ client-partners across 100 countries, built US operations for the UK’s largest bookmaker, and cut high-profile sports betting deals with teams like the Cincinnati Bengals and Vegas Golden Knights.

On this ride, Stephen opens up about:

  • Whether industry events really bring the business
  • Why he believes in connecting people to people above everything else
  • How he’d reshape iGaming conferences (hint: more case studies, less fluff)
  • The single-sentence keynote he’d deliver if given the mic
  • The people and principles that shaped his journey
  • The art of closing deals and the mindset behind his business approach
  • Which song he cues up when it’s deal-done time
  • His take on when it’s “network” and when it’s definitely “not work”

“Stephen brought the kind of wisdom you only get from decades at the very top of gaming and a career spent building, betting, and believing in people,” said Krazhan. “It was a very inspirational, motivational talk—and Stephen officially earned a Bet It Drives seatbelt of honor.”

As always, Bet It Drives trades the studio for the streets of London, filming each episode entirely on the move with a multi-camera crew capturing both the ride and the real talk. The result is a podcast that has blended insider insights with unscripted, human moments all season long—from Alex Pratt and Helen Walton to Rohini Sardana, and now Stephen Crystal in the finale.

Watch Episode 4 with Stephen Crystal now on YouTube, Spotify, and Apple Podcasts.

That’s a wrap for Season 1. But don’t unbuckle just yet—Bet It Drives will be back soon. Follow GR8 Tech and stay tuned: Season 2 is already on the horizon, promising more bold voices, more candid conversations, and more reasons to hit play.

The post GR8 Tech’s Bet It Drives Wraps Season 1 with Stephen Crystal—From Las Vegas Legends to Global Gaming Leadership appeared first on European Gaming Industry News.

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