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In-play, mobile, virtual games, eSports and artificial intelligence are just a few of the digital trends driving the worldwide sports betting industry – NSoft offers it all, and much more, in its product portfolio palette
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NSoft, sports betting and gaming software company located in Mostar, Bosnia, and Herzegovina creates virtual games, sportsbook software, and a turnkey gaming management platform for retail betting shops, gaming terminals, web and mobile application channels. Games include virtual races and sports matches, lottery games, virtual draw-based games, and sports betting.
Lucky Six represents one of NSoft’s most popular products, even in the African market. Apart from the omnichannel support (retail, terminal, mobile, and web) NSoft provides the possibility to integrate Lucky Six to third party websites as a widget.
Being one of the most popular games in the casino world, NSoft wanted to bring roulette closer to the betting players. The brand new Roulette, available in two versions European & American has instantly become very popular among players in the African market.
As the online betting industry has grown exponentially in recent years, so too has NSoft’s global footprint. Deloitte has consecutively named NSoft a Fast 50 tech company in Central Europe in the past three years.
Africa’s rising opportunities
Especially in high-growth markets such as Africa, understanding new technologies will be essential to scalable success and differentiation in an increasingly crowded market. Beyond developing games and applications, NSoft must follow strict country-by-country legal compliance, tax policy, and security protocols. NSoft, by having its Data Protection office, does not solely ensure the company’s compliance with the GDPR, but promotes the importance of data integrity and data protection.
Doing Business captured a record 314 regulatory reforms between June 2, 2017, and May 1, 2018. Worldwide, 128 economies introduced substantial regulatory improvements making it easier to do business in all areas measured by Doing Business.
The economies with the most notable improvement in Doing Business 2019 are Afghanistan, Djibouti, China, Azerbaijan, India, Togo, Kenya, Côte d’Ivoire, Turkey and Rwanda.
One-third of all business regulatory reforms recorded by Doing Business 2019 were in the economies of Sub-Saharan Africa. With a total of 107 reforms, Sub-Saharan Africa once again has a record number this year.
“We’re traditionally very strong in Central and Eastern Europe, but the fastest growth we’re experiencing in Africa’s large market and we are fully aware of the huge potential that this region has. Africa as the rising star on the iGaming market has been especially interesting when it comes to a real omnichannel experience, explains Davor Konjevod, Regional Sales Manager.
‘’African countries are high on the agendas of all important operators due to their infrastructure, mobile penetration and legislation already in place. Even though the sportsbook is very popular, and will continue to grow, all aspects of the African industry will continue to register a growth of the mobile and online channels and NSoft is closely monitoring the market movements.’’, Davor adds.
‘’Nevertheless, the players’ interest in Sportsbook is undoubted, we have been closely collaborating with 100+ of our customers across the world in order to deliver the best Self Managed Pre-Match Application out there. We mostly work with Betradar’s MTS which is brilliant for small and medium customers – it reduces their operational costs, provides certainty in terms of profit and they only need to focus on marketing. Once they get to the point they are big enough that they want to take risk management in their own hands, we provide the option to continue working with us through Self Managed. So, Self Managed at its core is not revolutionary towards the players, it’s revolutionary for the betting operators because now – it is a sophisticated application that helps create small, fine details within customer’s Pre-Match sports betting operations, providing an extra mile in front of competition without jeopardizing player’s habits. As an alternative of printed Pre-Match betting offers NSoft has developed on-screen rotating visualizations with GUI¸ based configuration depending on different and specific clients’ needs.” adds Aluwani Mukhudwana, Regional sales manager.
Commenting on NSoft’s advancements for Africa’s market, Konjevod adds: ‘’Africa’s low internet speed coverage represents one of the main issues for betting businesses around the continent. This is why NSoft adjusted its products for the satellite stream solution, which is currently in the testing phase by NSoft’s selected clients.’’
Omnichannel presence as the imperative
NSoft creates interactive games played in a variety of settings, from users’ phones and computers to retail terminals and betting shops. The games and apps are developed in-house and licensed to providers and retailers across the world.
“Our games can be easily integrated into other platforms and we can customize our games to clients in their native language across the 30-plus countries we serve,” said Davor.
Notably, NSoft developed Seven – a comprehensive, turnkey platform for managing core betting business operations. Betting operators who were previously juggling a plethora of games and sportsbooks from different providers can now consolidate everything on NSoft’s platform.
Explaining the Seven’s power, Aluwani emphasizes: ‘’Seven includes modules, applications, and APIs that serve as a foundation for stacking products and offering them to their operator clients. The platform handles users, transactions and reporters on an intuitive framework to aggregate betting and gaming products from third-party vendors like NSoft. To simplify implementation and lower the client’s investment in new hardware needed for retail channel, NSoft has developed a preinstalled mini PC that satisfies all client requirements to run NSoft Seven products. Nevertheless, with the Internet era, web and mobile betting solutions have become very popular, and it demands multiple payment methods for players, so NSoft is developing a service that aims to implement easy integration of payment methods into Seven Platform enabling the integration of more than 200 different payment methods.’’
NSoft’s perennial innovation – NSoft Vision
NSoft’s development team is currently working on new AI facial recognition and video management solution, NSoft Vision, that will be available to all niches, regardless of business type or industry.
NSoft Vision is a facial recognition application that harvests the power of AI to improve security and data collection for retail-oriented businesses. Aluwani explains: ‘’Simply put, Vision is an AI video management software created with the user experience as a top priority providing support for easy-to-use tools for feature management, analysis, and utilization of video data and image data.’’
On the top of conventional video surveillance features built into the software, NSoft Vision is encompassed with the number of artificial intelligence inputs. An effective video surveillance system is a crucial component of a comprehensive security strategy including the diverse reporting insights of overall business performance, customer relationship and profit generation.
Powerful features such as Facial Recognition with the addition of age and gender prediction enable software users to identify their customers in relation to their business. Utilizing AI features allows businesses to do a thorough player profiling, get an overall understanding of customer behavior, obtain a wide range of demographic insights, adjust the decision-making process to customer needs and thus scale their business.
NSoft is pioneering with its innovative technologies and naturally wants to showcase its extensive product portfolio at Africa’s market where the gaming industry is growing exponentially.
For more information contact NSoft sales team at [email protected]
Source: Latest News on European Gaming Media Network
This is a Syndicated News piece. Photo credits or photo sources can be found on the source article: In-play, mobile, virtual games, eSports and artificial intelligence are just a few of the digital trends driving the worldwide sports betting industry – NSoft offers it all, and much more, in its product portfolio palette
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Sportradar Reports Fourth Quarter and Full Year 2024 Results and Announces Agreement to Acquire IMG Arena and Its Strategic Portfolio of Global Sports Betting Rights
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 fourth quarter ended December 31, 2024.
Carsten Koerl, Chief Executive Officer of Sportradar, said: “We are pleased with our strong execution in 2024, achieving record revenue, operating margins and free cash flow generation. Importantly, we continued to build on our key competitive advantages including enhancing the depth and breadth of our content portfolio and further innovating on our product offerings. On the content front, with the extension and expansion of our Major League Baseball partnership, we now have all our existing major rights locked in for an average of six years, providing us with great cost visibility. And with the announced agreement to acquire IMG ARENA’s sports rights portfolio, we will further enhance our sports coverage in some of the most bet on sports globally. This past year we also grew our product offering, launching a number of award-winning products that expand our best-in class product suite and bring fans closer to their favorite sports. Importantly, as we grow our topline, we are at an inflection point for multi-year margin expansion and increasing cash flow, positioning us to deliver meaningful shareholder value for years to come.”
FOURTH QUARTER AND FULL YEAR REVENUE BY PRODUCT GROUP
Revenue
| Three-Month Period Ended December 31, |
Year Ended December 31, |
||||||||||||||||||
| in € thousands (unaudited) | 2024 | 2023 | Change | % | 2024 | 2023 | Change | % | |||||||||||
| Revenue by product | |||||||||||||||||||
| Betting & Gaming Content | 191,783 | 147,747 | 44,036 | 30 | % | 707,119 | 530,099 | 177,020 | 33 | % | |||||||||
| Managed Betting Services | 55,145 | 55,870 | (725 | ) | (1 | )% | 199,871 | 173,391 | 26,480 | 15 | % | ||||||||
| Betting Technology & Solutions | 246,928 | 203,617 | 43,311 | 21 | % | 906,990 | 703,490 | 203,500 | 29 | % | |||||||||
| Marketing & Media Services | 44,282 | 36,445 | 7,837 | 22 | % | 146,919 | 126,629 | 20,290 | 16 | % | |||||||||
| Sports Performance | 11,051 | 10,608 | 443 | 4 | % | 40,366 | 39,758 | 608 | 2 | % | |||||||||
| Integrity Services | 4,809 | 1,916 | 2,893 | 151 | % | 12,281 | 7,744 | 4,537 | 59 | % | |||||||||
| Sports Content, Technology & Services | 60,142 | 48,969 | 11,173 | 23 | % | 199,566 | 174,131 | 25,435 | 15 | % | |||||||||
| Total Revenue | 307,070 | 252,586 | 54,484 | 22 | % | 1,106,556 | 877,621 | 228,935 | 26 | % | |||||||||
| Revenue by geography | |||||||||||||||||||
| Rest of World | 232,298 | 199,738 | 32,560 | 16 | % | 843,791 | 711,613 | 132,178 | 19 | % | |||||||||
| United States | 74,772 | 52,848 | 21,924 | 41 | % | 262,765 | 166,008 | 96,757 | 58 | % | |||||||||
| Total Revenue | 307,070 | 252,586 | 1,106,556 | 877,621 | |||||||||||||||
FULL YEAR FINANCIAL RESULTS
Revenue
Total revenue for the full year was €1,107 million, up €229 million, or 26% year-over-year driven by 29% growth in Betting Technology & Solutions and 15% growth in Sports Content, Technology & Services.
Betting Technology & Solutions revenues of €907 million were up 29% year-over-year primarily driven by a 33% increase in Betting & Gaming Content benefiting from existing and new customer uptake of products and premium pricing from NBA and new ATP product offerings, as well as from overall strong U.S. market growth. Managed Betting Services of €200 million were up 15% driven by strong growth in Managed Trading Services from higher trading margins and increased betting activity from existing and new clients.
Sports Content, Technology & Services revenues of €200 million increased 15% year-over-year primarily driven by 16% growth in Marketing & Media Services with strength in both European and North American ad:s revenue, with a variety of sportsbooks investing in marketing campaigns during the year.
The Company generated strong revenue growth globally with Rest of World up 19% and the United States up 58%. As a percentage of total Company revenues, United States revenue represented 24% of total Company revenue for the full year as compared to 19% in the prior year due to continued market growth, additional customer uptake of our products and premium pricing.
Profit for the period
Profit for the full year was €34 million, in line with the prior year. The strong operating results were primarily offset by a foreign currency loss of €38 million for the full year compared to a €23 million gain last year, due to unrealized currency fluctuations associated with the U.S. dollar-denominated sport rights. The current year also included higher financing costs due primarily to our new ATP, NBA and Bundesliga partnership deals, as well as an income tax benefit of €11 million driven primarily by the recognition of deferred tax assets.
Adjusted EBITDA
Full year Adjusted EBITDA was €222 million, up €56 million, or 33% compared to €167 million in the prior year. The increase was largely driven by the 26% revenue growth, partially offset by increased sport rights costs primarily related to the NBA and ATP partnership deals, higher purchased services driven by investments in developing our product portfolio and increased personnel expenses primarily due to headcount growth and a higher bonus accrual in the current year.
FOURTH QUARTER FINANCIAL RESULTS
Revenue
Total revenue for the fourth quarter was €307 million, up €54 million, or 22% year-over-year driven by 21% growth in Betting Technology & Solutions and 23% growth in Sports Content, Technology & Services.
Betting Technology & Solutions revenues of €247 million were up 21% year-over-year primarily driven by a 30% increase in Betting & Gaming Content benefiting from existing and new customer uptake of our products and premium pricing, led by the addition of new ATP content, as well as from overall strong U.S. market growth. Managed Betting Services revenues of €55 million were down 1% as strong growth in Managed Trading Services from higher trading margins and increased betting activity from existing and new clients was more than offset by the impact a year ago from the one-time initial setup revenues related to hardware deliveries for the new Taiwan Lottery deal.
Sports Content, Technology & Services revenues of €60 million increased 23% year-over-year primarily driven by 22% growth in Marketing & Media Services with strength in both European and North American ad:s revenue as several sportsbooks invested in marketing campaigns during the quarter.
The Company generated strong revenue growth globally with Rest of World up 16% and the United States up 41%. As a percentage of total Company revenues, United States revenue represented 24% of total Company revenue in the fourth quarter as compared to 21% in the prior year quarter due to continued market growth, additional customer uptake of our products and premium pricing.
Customer Net Retention Rate of 127% increased sequentially and from prior year demonstrating our ability to cross sell and up sell to our clients, as well as the market growth in the United States.
Loss for the period
Loss for the period was €1 million, down €24 million, compared to profit of €23 million in the same quarter a year ago, as the strong operating results were more than offset primarily by a foreign currency loss of €38 million in the quarter as compared to a €27 million gain last year, due to unrealized currency fluctuations mainly associated with the U.S. dollar-denominated sport rights. The current quarter also included higher financing costs due primarily to our new ATP and Bundesliga partnership deals, as well as an income tax benefit of €20 million driven primarily by the recognition of deferred tax assets.
Adjusted EBITDA
Fourth quarter Adjusted EBITDA was €61 million, up €21 million, or 53% compared to €40 million in the same quarter a year ago. The increase was largely driven by the 22% revenue growth, partially offset by increased sport rights costs primarily related to the ATP partnership deal, higher purchased services driven by investments in developing our product portfolio and increased personnel expenses primarily due to headcount growth and a higher bonus accrual in the current year.
Additional Business Highlights
- 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.
- Announced the extension and expansion of our partnership with UEFA covering all UEFA Club and National team competitions, which includes over 900 high-profile matches, a 33% increase from the previous agreement.
- Announced a new long-term partnership with UTR Sports for the UTR Pro Tennis tour, the top tennis tour for rising professionals. Tennis is the second most bet on sport and UTR provides Sportradar with a consistently high volume of tennis matches throughout the year.
- In partnership with the NBA, launched a suite of next generation products and solutions for the 2024 – 2025 season including 4Sight Streaming, emBET, Live Match Tracker and advanced visualizations.
- Introduced micro markets for ATP tennis and basketball, expanding this cutting-edge product to tennis from other popular sports such as soccer and table tennis.
- Enhanced ad:s marketing services providing the most comprehensive 360 degree solution for customers with the launches of new channels including paid search and audio, and the addition of affiliate marketing capabilities through XLMedia.
- Opened an office in São Paulo, Brazil, marking a major milestone in Sportradar’s strategic expansion into that country and across Latin America.
Balance Sheet and Liquidity
The Company’s cash and cash equivalents were €348 million as of December 31, 2024 as compared with €277 million as of December 31, 2023. The increase was primarily driven by net cash generated from operating activities of €353 million due to strong operating performance, partially offset by net cash used in investing activities of €255 million, primarily from the acquisition of additional sport rights, most notably its new NBA and ATP deals, and the acquisition of assets of XLMedia, and from net cash used in financing activities of €37 million, due primarily to share repurchases. Free cash flow for the year ended December 31, 2024 was €118 million, an increase of €67 million from €50 million in the same period a year ago.
Including its undrawn credit facility, the Company had total liquidity of €568 million at December 31, 2024 as compared to €497 million as of December 31, 2023, and no debt outstanding.
2025 Annual Financial Outlook
Sportradar is targeting 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 uplift resulting from this acquisition upon closing.
Share Repurchase Plan
In March 2024, the Board of Directors approved a $200 million share repurchase plan and commenced purchases during the second quarter. During the quarter ended December 31, 2024, the Company repurchased approximately 467 thousand shares for a total of $5.7 million. For the full year 2024, the Company repurchased 1.8 million shares under the plan for a total of approximately $20.3 million.
Subsequent Event
This morning, Sportradar announced it has entered into a definitive agreement with Endeavor Group Holdings, Inc. to acquire IMG ARENA and its global sports betting rights portfolio. IMG ARENA’s portfolio will 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. Under terms of the agreement, IMG ARENA will provide financial consideration totaling $225 million (subject to customary purchase price adjustments), comprised of $125 million cash paid to Sportradar and up to $100 million cash prepayments made to certain of the sports rightsholders. Sportradar will not be required to pay any financial consideration to the Endeavor Group.
With its highly scalable technology platform and extensive client network, Sportradar will seamlessly integrate and monetize these rights, driving incremental value for clients, partners and shareholders. This addition will further accelerate Sportradar’s robust revenue, adjusted EBITDA and free cash flow growth and will be immediately accretive to adjusted EBITDA margins.
IMG’s portfolio of global betting rights comprises strategic relationships with over 70 rightsholders covering approximately 39,000 official data events and 30,000 streaming events across 14 global sports on six continents. Prominent properties include Wimbledon, U.S. Open, Roland-Garros, Major League Soccer, EuroLeague basketball, and PGA Tour, amongst others.
The transaction is subject to customary closing conditions, including regulatory approvals, and is currently expected to close in the fourth quarter of 2025.
Conference Call and Webcast Information
Sportradar will host a conference call to discuss the fourth quarter and full year 2024 results today, March 19, 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 Fourth Quarter and Full Year 2024 Results and Announces Agreement to Acquire IMG Arena and Its Strategic Portfolio of Global Sports Betting Rights appeared first on European Gaming Industry News.
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