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Aspire Global: Interim Report Third Quarter 2021
REVENUE INCREASED 46% AND EBITDA 38% IN Q3 2021
THIRD QUARTER
- Revenues increased by 46.0% to €58.6 million (40.1).
- EBITDA increased by 38.0 % to €9.1 million (6.6).
- The EBITDA margin amounted to 15.5% (16.4%).
- EBIT increased by 38.7% to €6.8 million (4.9).
- Earnings after tax increased 68.1% to €6.4 million (3.8).
- Earnings per share increased 62.5% to €0.13 (0.08).
NINE MONTHS
- Revenues increased by 38.2% to €162.4 million (117.5).
- EBITDA increased by 46.0% to €27.5 million (18.8).
- The EBITDA margin increased to 16.9% (16.0%).
- EBIT increased by 45.7% to €21.1 million (14.5).
- Earnings after tax increased 79.0% to €19.4 million (10.8).
- Earnings per share increased 77.2% to €0.39 (0.22).
SIGNIFICANT EVENTS IN THE QUARTER AND AFTER THE END OF THE QUARTER
- Revenues increased 46.0% from Q3 2020 driven by strong development in all segments.
- Organic growth of 39.0% from Q3 2020.
- B2B revenues grew 40.5% from Q3 2020 with organic growth of 31.2%.
- Strong performance in sub-segments Aggregation and Games – Pariplay and Sports – BtoBet.
- Agreement to sell the B2C segment to Esports Technologies announced 1 October – closing expected by 30 November 2021 upon completion
of certain contingent terms. The total value of the transaction sums up to about €65 million. The transaction also includes a four-year platform and managed services agreement with an estimated gross value of €70 million. - Aspire Global signed a platform deal with Esports Technologies in September for its leading brand Gogawi.
- Pariplay further strengthened its position in the Americas – first contract in Brazil signed and granted full supplier license in West Virginia.
- Pariplay signed a deal to provide its proprietary games to Holland Casino in the newly regulated Dutch market.
- First brand live with BtoBet’s sportsbook on Aspire Global’s platform. To date six brands are already live.
- Two deals covering Aspire Global’s complete offering signed.
CEO COMMENTS
“WE CLEARLY EXECUTE OUR GROWTH STRATEGY TO BECOME A WORLD LEADING IGAMING SUPPLIER”
With the sale of the B2C segment, Aspire Global will become a clearly focused B2B company and even stronger and more profitable. The sale will also give us additional resources to further develop and enhance our B2B offering as well as the opportunity to explore new M&A activities. In Q3 2021, we have made key progress towards our objective of establishing strong positions in the US and Brazil. Our success in these markets will be important steps in reaching our goal to become a world leading B2B iGaming supplier.
The sale of the B2C segment – expected to take place at the end of November 2021 – will have a significant positive impact on Aspire Global’s position as a focused B2B company and profitability. Excluding the B2C segment, revenues increased by 36.1% to €118.9 million and EBITDA increased by 54.1% to €22.7 million in the first nine months 2021 with an EBITDA margin of 19.1%. B2B organic growth in the nine-month period amounted to 27.1%.
We initiated the review of our B2C segment in March this year, and on October 1 we announced the agreement with US-based Esports Technologies to acquire the B2C segment. The consideration sums up to about €65 million, consisting of €50 million in cash, €10 million in a promissory note and €5 million in common stock in the listed entity of Esports Technologies. The transaction also includes a four-year platform and managed services agreement with an estimated gross value of €70 million, based on present volumes. The transaction is expected to close by November 30, 2021, pending Esports Technologies receipt of financing, and other closing requirements.
A TRANSFORMATIVE, STRATEGIC MOVE
The divestment of the B2C segment is a transformative, strategic move for Aspire Global. First of all, the change in business mix will affect the revenue so that it will consist only of B2B revenues and, at the same time, the share of managed services will increase. The divestment will also provide Aspire Global with additional resources to further develop the technology platform as well as its offering in casino, sports and managed services. The managed services part of our business is essential to us, not only because it is recurring, but also because it will secure our continued deep knowledge about player behaviour. Furthermore, we expect that Aspire Global will have other peers as a focused B2B company and that investors will find it easier to value the company.
Following the divestment, we will also look into M&A possibilities with the aim to control even more of the value chain. Our successful acquisitions of Pariplay in 2019 and BtoBet in 2020 are proof of our ability to identify and integrate companies that complement our offering in the value chain. In the first nine months of 2021, Pariplay has grown by 79.4% to €21.7 million with an EBITDA margin of 27.9%. BtoBet has also demonstrated strong growth of 68.7% to €7.8 million in the nine-month period with an EBITDA margin of 23.1%.
KEY PROGRESS IN THE US AND BRAZIL
The B2C divestment also provides us with increasing opportunities to continue to invest in establishing a considerable position in above all the big and quickly growing Brazilian and US markets. In Q3 2021, we have made key progress in the US and Brazil. Pariplay signed a deal with FansUnite Entertainment, entailing that Aspire Global enters the Brazilian market for the first time. FansUnite is a Canadian sports and entertainment company, and Pariplay will supply its wide portfolio of proprietary and third-party content, via its Fusion aggregation platform, to FansUnite’s B2C brands and B2B solutions in Europe and Americas and thereby allows Pariplay to enter Brazil for the first time.
Pariplay also further strengthened its position in Latin America by a deal with the world-famous land-based and online games provider Ainsworth Game Technology. The deal will see Ainsworth partnering exclusively with Pariplay for all new online releases in Latin America, with making its titles available to players through Pariplay’s Fusion aggregation platform.
Pariplay reached another milestone in its US expansion strategy during Q3 2021 after being granted a full iGaming Supplier License in West Virginia. Pariplay made its debut in the fast-growing US market when its content went live in New Jersey in February 2021 and Pariplay has applied for licenses in several states.
DEEPER ESPORTS RELATIONSHIPS
We are also proud and happy with the relationship we have established with Esports Technologies. Esports Technologies is a leading global operator and provider of products and marketing solutions in the quickly growing esports market. Beside the B2C deal, we also signed a strategic license agreement with Esports Technologies in Q3 2021. As part of the deal, Esports Technologies will launch its esports/sportsbook Gogawi.com in certain key markets on our platform and intends to launch an additional brand on the platform in the future. In addition, we will make the Esports Technologies proprietary esports feed available to our partners around the world.
Esports Technologies are at a rapid growth phase and aim to become the world’s number one esports company. As part of the B2C agreement, Karamba and our other B2C brands will join our B2B network, and will become one of our biggest B2B partners. I’m sure that the experience and excellence of our B2C team, together with the ambition and investment of Esports Technologies, will take the brands to new heights.
PROFITABLE GROWTH IN REGULATED MARKETS
In the quarter, Germany introduced a new regulation with higher gaming duties. Despite this regulatory change, the EBITDA margin in the B2B segment increased to 18.7% from 18.0% in Q3 2020. This clearly demonstrates Aspire Global’s ability to manage a profitable operation in regulated markets.
In October, the Netherlands opened for online gaming and Pariplay just a few days ago announced a deal to supply its proprietary games to Holland Casino. Holland Casino has a leading presence within the new regulated digital ecosystem in the Netherlands.
OUTLOOK
Aspire Global has consistently demonstrated its ability to execute its growth strategy, reaching its financial targets and create value. We see great growth opportunities by expanding with existing partners, gaining new partners and entering new markets. With the divestment of the B2C segment we will further enhance investments in our technology and product offering as well as geographic presence with focus on Brazil and the US. We will also put even more energy on increasing the M&A pipeline. We clearly execute our growth strategy to become a world leading iGaming supplier.
Tsachi Maimon, CEO.

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Betano Transforms “El Loco” into “El Responsável”
Betano, the leading online sports betting and gaming brand owned by Kaizen Gaming, is launching its new responsible gaming campaign featuring former Uruguayan player Sebastián Abreu, nicknamed “El Loco”, as its ambassador.
The campaign aims to promote education about sports betting, reinforce its entertainment aspect, and dispel the idea that gaming is a form of investment.
Known for his irreverent style on and off the field, “Loco” Abreu entered the record books as the athlete who has played for the most clubs worldwide and was immortalised by his audacious “panenka” winning penalty kick in the 2010 World Cup quarterfinal (Uruguay vs Ghana). “El Loco” now assumes a new moniker as Betano’s ambassador: “El Responsável” (The Responsible One).
Using the concept of “Não mete o Loco” (Don’t Go Crazy) – a reference to Loco Abreu’s sports history – the new campaign premieres with an entertaining 60-second film starring the player. Speaking in his signature “portunhol” (a mix of Portuguese and Spanish) combined with popular expressions, Betano’s Responsible Gaming ambassador aims to raise awareness among football fans about the importance of time limits, controls, and breaks. By visiting the website naometeoloco.com, the public will have access to educational content on the subject, such as illustrative scenarios about respecting limits and knowing when to stop.
Media: youtu.be/1I8OZci5Hpw
Arthur Niggemann, Senior Marketing Manager for the Americas at Betano, said: “We brought a light and relaxed approach that will capture our audience’s attention to discuss a serious topic that Betano has been committed to since the beginning of its operations: responsible gaming.”
With the campaign designed to roll-out in phases, allowing the theme to be explored with the necessary teaching approach on an ongoing basis, Arthur Niggeman further explains: “In the next phases, the focus will be on educating the public more directly, with materials such as guides or step-by-step instructions for betting safely, reinforcing self-control and self-confidence as pillars of a conscious and responsible experience in the betting world.”
In addition to Brazil, the campaign will also be aired in Peru, Mexico, Chile, Colombia, Ecuador, and Argentina. Conceived by the Wieden + Kennedy SP agency, the campaign uses irreverence and a Latin American football idol to help boost awareness.
José Ferraz and Felipe Paiva, Group Creative Directors at W+KSP, explain: “Responsible gaming is a serious and extremely important topic for Betano. Therefore, to educate our consumers in a fun and relatable way, there’s no one better than the charismatic Loco Abreu. A player who took many risks on the field but returns to the game with a new role: spokesperson for conscious gaming.”
The campaign reinforces the three basic rules of responsible gaming: respect your limits, always playing with amounts within your financial reality; take breaks from gaming so it doesn’t become an intense routine; and bet for fun, without confusing entertainment with a form of supplementary income.
Campaign on the Streets, on Social Media, and in Stadiums
The communication for the campaign will be multiplatform and long-lasting, developed in three distinct phases. In addition to the main film, the campaign engages with the public through outdoor media around stadiums and light content on social media.
There will also be insertions during football broadcast intervals on open and Pay TV, even before ads from other betting houses. With the help of content creators and brand ambassadors – Adriane Galisteu and Felipe Massa – the campaign aims to make clear the entertainment nature of sports betting, but only when fun comes first.
Safe and Secure Platform
Responsible gaming is a pillar of Betano. The educational communications present on the platform will now be reinforced, highlighting Betano’s features for better time control and more responsible exposure to its games. Some examples include:
- Setting financial and time limits defined for different periods
- Session timers and other features that can be set by the customer
- Temporary and permanent self-exclusion options
- Time-out option
- Links to entities such as Gamblers Anonymous (Jogadores Anônimos) and other support organisations for players and families
- Rigorous verification that prevents underage entry
- 24/7 specialized support
Other relevant information for player protection already available on the Betano platform – such as ‘Avoid chasing losses’; ‘Only play when you can afford to lose’; or ‘Keep track of time and monitor the amount you spend’ – will be worked on in an even more didactic way, but also with lighter and more direct messages in online and physical actions: ‘A good player knows when to stop’ or ‘Respecting limits is part of the game’.
The post Betano Transforms “El Loco” into “El Responsável” appeared first on European Gaming Industry News.
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Boomerang Partners wowed the guests of iGB L!VE London with a celebration of the first anniversary of the strategic partnership with AC Milan
On July 2-3, Boomerang Partners, a global marketing agency, participated in iGB L!VE London. One of the event’s highlights was the celebration of the first anniversary of the strategic partnership between Boomerang and AC Milan, one of the world’s premier football clubs. Boomerang is its Official Regional Partner.
Anton Eshtokin, Chief Marketing Officer at Boomerang Partners, commented: “We are very pleased with Boomerang Partners’ participation in iGB L!VE London. It is symbolic that, a year ago at iGB, we announced our strategic partnership with AC Milan. We celebrated the first anniversary of this epic collaboration in a great atmosphere, featuring match ticket raffles. We were delighted to welcome hundreds of guests to our booth, highlighting once again the prestige of our partnership with AC Milan in the industry. We have many more joint projects ahead of us, and we are sure that we will be able to surprise everyone.”
The celebration of the strategic partnership with AC Milan was one of the main (but not the only) reasons why the Boomerang Partners booth was a hotspot for visitors to the exhibition. More than 1,000 people visited it during the two-day event. Over 900 guests took part in the Penalty Challenge. The challenge featured two raffles — the first held offline at the Boomerang Partners booth on July 2, and the winner received premium tickets to one of the most famous football matches in the world between AC Milan and Inter FC. The second draw took place online on July 3 on Boomerang’s Instagram page. The winner will receive tickets to an AC Milan match in the Italian Serie A or the Coppa Italia.
The winner of the offline drawing on July 2 was Saad Shaikh, a data engineer at Betzoo Media. He shared his emotions: “This is my first time in iGB. My experience was truly great, and thank you again for giving me the opportunity to have a good time and enjoy the experience I’ll have in Milan. I haven’t been to Milan before. Back in my old days, my family went. Yeah, so this is my second chance. And thank you, Boomerang, for giving me this opportunity.”
iGB L!VE London was successful for Boomerang Partners. The increased attention from exhibition guests to the Boomerang Arena booth yielded impressive results. The agency held more than 120 business meetings and signed 15 new partnership agreements. As the brand enters its second year of partnership with AC Milan, it remains ambitious to follow its slogan, ‘Live without limits.’
About Boomerang
Boomerang Partners is a rapidly growing global brand offering a wide range of services. Boomerang is the Official Regional Partner of AC Milan and collaborates with women’s football star and influencer Alisha Lehmann. In 2024, it launched the inaugural Golden Boomerang Awards — a global tournament for affiliate teams. More than 400 affiliate teams participated in the second season of the tournament in 2025. Boomerang launched six new products in 2024, which contributed to an almost 1.5-fold increase in product users.
Boomerang’s portfolio contains 17+ brands offering affiliate and entertainment services across 40+ markets in compliance with local regulations. These products provide personalized bonuses and 24/7 multilingual support.
The post Boomerang Partners wowed the guests of iGB L!VE London with a celebration of the first anniversary of the strategic partnership with AC Milan appeared first on European Gaming Industry News.
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Totogaming Joins Cernica Pantelimon RunFest: Not Just Present, But Fully Participating
“We weren’t just present — we were participants of Runfest. And that’s one of the most important aspects,” said Artak Ashkhatoyan, Deputy CEO of Totogaming.
On July 6, Totogaming joined the Cernica Pantelimon Runfest in Romania, once again emphasizing the importance of promoting amateur sports and a healthy lifestyle.
“Supporting such initiatives is a priority for TotoGaming. First, 50% of the proceeds from RunFest will be donated to the CLOVES Romania Foundation, supporting children affected by CLOVES Syndrome. And second, we’ve always believed in showing our passion for sports through actions, not just words. Have you noticed how we’re constantly rushing through life, yet when we look back, it often feels like we haven’t moved at all? It’s important for us to lead by example and show the importance of participation. This is exactly the message we’re promoting through our team’s active involvement in the marathon. After all, there can never be too much sport in our lives,” said TotoGaming’s Deputy CEO, Artak Ashkhatoyan.
A Simple Concept, a Powerful Impact
The concept of this sports event is straightforward: choose a distance between 1 to 21 kilometers and run. The goal? Make sport an integral part of everyday life. The crowd certainly embraced that, gathering as early as 8:30 a.m. — on a Sunday morning.
Totogaming contributed in two distinct capacities: as an official sponsor and as an active participant. A dedicated team of 13 employees represented the company at the Cernica Pantelimon RunFest, with 7 of them proudly taking part as runners.
More Than Just a Run
It wasn’t an easy challenge — especially because among Totogaming’s runners were people for whom running isn’t a daily habit, or even part of their life at all. Yet they couldn’t miss the opportunity, not least from the perspective of corporate responsibility.
“We just finished the 7.5-kilometer race!” shared Petrut-Adrian Toea from the Totogaming team.
“It was amazing, honestly. Around the 2-kilometer mark, I had this little battle with myself — I told myself I had to finish the race, no matter what. And I did it! I came in around 60th place out of over 100 runners, which for me is a really good result.”
“I see my participation as a small contribution toward promoting a healthy lifestyle. In my close circle, everyone knows I’m not exactly the sporty type. I’m not athletic, and I usually prefer having fun in other ways. But showing up here, early in the morning, in this intense heat, and completing almost 8 kilometers with just one short break — I think it set a good example.”
“I hope seeing someone like me finish this challenge motivates my friends to try something similar for their own health. I believe that’s a meaningful contribution”, – added Petrut-Andrea.
Totogaming also made it possible for every attendee to bring sport into their lives — quite literally. At the Totogaming tent, participants could ride stationary bikes and receive prizes based on the number of points they earned through their efforts.
Whether they were running, cycling, or simply cheering for friends, the goal for everyone was the same: to reach the destination of champions — by bringing sport into everyday life.
The post Totogaming Joins Cernica Pantelimon RunFest: Not Just Present, But Fully Participating appeared first on European Gaming Industry News.
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