Latest News

Sportradar Announces Strong Third Quarter 2021 Financial Results

Published

4 years ago

November 17, 2021

Reading Time: 6 minutes

Sportradar Group AG , a leading global technology platform enabling next generation engagement in sports, and the number one provider of business-to-business solutions to the global sports betting industry, today announced financial results for its third quarter ended September 30, 2021.

Third Quarter 2021 Highlights

Revenue in the third quarter of 2021 increased 30% compared to the third quarter of 2020 to €136.8 million ($158.7 million)¹, driven by robust growth across all geographies and business segments
Continued strong performance in the U.S. market with U.S. revenue in the third quarter of 2021 increasing by 119% compared to the third quarter of 2020. For the nine months ended September 30, 2021 the U.S. revenue reached €48.5 million ($56.3 million)¹
Adjusted EBITDA* in the third quarter of 2021 was up 21% compared to the third quarter of 2020 to €20.9 million ($24.2 million)¹
Strong Dollar-Based Net Retention Rate* of 128% at the end of third quarter of 2021, underscoring the continued success of our cross-sell and upsell strategy
Successfully extended our partnership through 2028 with FanDuel Group, a leader in the U.S. sports betting market, covering pre-match betting services, live betting services, and betting entertainment tools
Completed successful listing on Nasdaq, raising €546 million of primary net proceeds to fund continued growth in the business, providing the Company with €878 million to continue to invest in global growth
For the full-year 2021, we expect revenue to be in the range of €553 to €555 ($641 to $644)¹ million and Adjusted EBITDA* in the range of €99.5 to 101.5 ($115.4 to $117.7)¹ million.

	Q3	Q3	Change
	2021	2020	%

Revenue	€136.8	€105.3	+30%

Adjusted EBITDA*	€20.9	€17.3	+21%

Adjusted EBITDA margin*	15%	16%	-7%

Dollar-Based Net Retention Rate*	128%	114%	+12%

Adjusted Free Cash Flow*	€32.9	€13.5	+144%

Cash Flow Conversion*	158%	78%	+102%

_____________________
¹ For the convenience of the reader, we have translated Euros amounts in the tables below at the noon buying rate of the Federal Reserve Bank of New York on September 30, 2021, which was €1.00 to $1.16.
^* Non-IFRS financial measure; see “Non-IFRS Financial Measures and Operating Metrics” and accompanying tables for further explanations and reconciliations of non-IFRS measures to IFRS measures.

Carsten Koerl, Chief Executive Officer of Sportradar said: “Our strong results demonstrate the value we provide to our partners and customers around the world. We are the largest provider of sports intelligence in the world and the only profitable global sports technology platform of scale. Critically, we believe we are also the most innovative in developing technology solutions that enable our league customers, media and betting partners to use our ever-increasing data to attract and engage sports fans.”

Koerl continued, “We plan to continue to make significant investments, particularly in the U.S. The U.S. represents the primary area of focus to execute on our strategic growth plans, as the U.S. region is currently only 7 percent of our group revenues, representing a significant potential business opportunity as more states legalize betting and the market expands from $1 billion in 2019 to an estimated $23 billion in the next 10 years. Our recent Nasdaq listing in the U.S. was a tremendous milestone for our team, and we look forward to building on our success in a multitude of areas in the years ahead.”

Financial Highlights for the Three Months Ended September 30, 2021

Revenue in the third quarter of 2021 increased by 30% compared to the third quarter of 2020 to €136.8 million
Adjusted EBITDA* in the third quarter of 2021 increased by 21% compared to the third quarter of 2020 to €20.9 million
Adjusted EBITDA margin* remains strong at 15% in the third quarter of 2021, a slight decrease compared to the third quarter 2020 due to additional IPO costs of approximately €5.7 million which were incurred in the third quarter of 2021. Eliminating the impact of IPO costs would result in an Adjusted EBITDA margin of 20%, illustrating our continuous ability to achieve operating leverage
Dollar-Based Net Retention Rate* increased from 114% to 128% for the comparable twelve month period ending at September 30, 2020 and 2021 demonstrating continued execution of our upsell and cross-sell strategy and underscoring the quality of the products and services we provide our customers
Adjusted Free Cash Flow* in the third quarter of 2021 increased by 144% to €32.9 million which resulted in a Group Cashflow conversion of 158%
Cash totaled €768.4 million as of September 30, 2021. Total liquidity available for use at September 30, 2021, including undrawn credit facilities was €878.4 million
Total Debt at September 30, 2021 was €436.7 million resulting in a net cash position of €331.7 million

Segment Information

RoW Betting

Segment revenue in the third quarter of 2021 increased by 24% compared to the third quarter of 2020 to €78.6 million. This growth was driven primarily by uptake in our higher value-add offerings including Managed Betting Services and Live Odds Services, which increased by 63% and 20% respectively, as a result of new customers wins as well as increased turnover² and volume.
Segment Adjusted EBITDA* in the third quarter of 2021 increased by 36% compared to the third quarter of 2020 to €44.7 million. The Segment Adjusted EBITDA margin* improved from 52% to 57% in the third quarter of 2021 driven by growth in higher margin products.

_____________________
² Turnover is the total amount of stakes placed and accepted in betting.

RoW AV

Segment revenue increased in the third quarter of 2021 by 13% compared to the third quarter of 2020 to €29.0 million. This growth was impacted by COVID related schedule changes in 2020, when more matches than usual were played in Q3 2020. Adjusting for schedule changes Q3 2021 growth was approximately 30%, driven by volume growth as we were able to sell more matches (such as Soccer and Baseball) as well as growth from additional, new content (such as Copa America, Horse Racing and eSports) being sold to existing and new customers.
Segment Adjusted EBITDA* in the third quarter of 2021 increased by 220% compared to the third quarter of 2020 to €9.6 million. The Segment Adjusted EBITDA margin* improved from 12% to 33% in the third quarter of 2021 driven by lower cost of some content.

United States

Segment revenue in the third quarter of 2021 increased by 119% compared to the third quarter of 2020 to €19.6 million. This result was driven by growth in our US Betting services and increased revenue from our customers as the underlying market and turnover grew. We also experienced strong adoption of our ad:s product, growth in US Media and a positive impact from the acquisition of Synergy Sports in the second quarter of 2021.
Segment Adjusted EBITDA* in the third quarter of 2021 increased by 24% compared to the third quarter of 2020 to -€(6.6) million. The Segment Adjusted EBITDA margin* improved from (-60%) to (-34%) in the third quarter of 2021 which reflects the scalability of this business and clear path to profitability while continuing to invest in the US market.

Costs and Expenses

Personnel expenses in the third quarter of 2021 increased by €20.0 million compared to the third quarter of 2020 to €51.3 million resulting from additional hires in new business lines (2.849 FTE in the third quarter of 2021 vs 2.235 FTE in the third quarter of 2020), stock-based compensation, and reversal of temporary COVID 19 cost savings in the third quarter of 2021 compared to the third quarter of 2020.
Other Operating expenses in the third quarter of 2021 increased by €15.7 million compared to the third quarter of 2020 to €25.2 million mainly driven by incurred costs for IPO, compliance costs relating to operating as a publicly listed company in the US and M&A costs.
Total Sport rights costs in the third quarter of 2021 decreased by €9.0 million compared to the third quarter of 2020 to €28.7 million resulting from fewer major sporting events in the third quarter of 2021 compared to the third quarter of 2020.
Adjusted EBITDA* in the third quarter of 2021 was negatively impacted by IPO costs of €5.7 million. Eliminating this impact would result in an Adjusted EBITDA* of €26.6 million.

Recent Business Highlights

Issued and sold 19 million shares in connection with the closing of our IPO on Nasdaq raising €546 million of primary net proceeds
Signed integrity partnerships with leading sports leagues and federations such as cricket’s Tamil Nadu Premier League (TNPL), Badminton Europe and the Austrian Tennis Association
Secured a multi-year exclusive official data and media rights deal with Ligue Nationale de Basket (LNB), France’s top basketball league
Implemented full Computer Vision models for Grand Slam tennis events including Wimbledon and US open
Combined newly developed AI tools with our Managed Trading Services, Sportradar’s holistic trading service for sportsbook operators, to more accurately detect potential betting related match-fixing
Announced partnership extension with US market leader FanDuel Group through 2028
Announced a five-year deal with US betting and iGaming operator, Bally’s Interactive, to help support and grow sportsbook operations in the US
Celebrated three wins at the EGR B2B Awards in the Best Customer Service and Live Streaming Supplier categories, as well as the recently acquired Fresh Eight being shortlisted for Best Marketing and PR Supplier

Financial Outlook

For the full-year 2021, the Company currently expects:

Revenue in the range of €553 million to €555 million, representing growth of 36.6% to 37.1% for fiscal 2021
Adjusted EBITDA* in the range of €99.5 million to €101.5 million, representing growth of 29.4% to 32.0% for fiscal 2021

Conference Call and Webcast Information

Sportradar will host a conference call to discuss the third quarter 2021 financial results on November 17, 2021 at 8:00 a.m. Eastern Time (“ET”). The conference call can be accessed live over the phone by dialing 1-877-423-9813, or for international callers 1-201-689-8573. A replay will be available from 11:00 a.m. ET on November 17, 2021 through November 24, 2021, by dialing 1-844-512-2921, or for international callers 1-412-317-6671. The replay passcode will be 13724560.

Latest News

Week 38/2025 slot games releases

Published

1 day ago

September 19, 2025

George Miller

Reading Time: 4 minutes

Here are this weeks latest slots releases compiled by European Gaming

“Fruitferno 40” went live, a new 5×4 slot from Hölle Games. It comes just a few weeks after the Dragon’s Diamonds launch, a cluster-style title with an equally hot theme! Following up to that 6×5 scatter-pays smasher, the Hölle team have taken a short detour to drop a 40-payline sequel to Fruitferno 20, for all those slot purists out there.

GAMOMAT is raising the stakes again with the release of its horror-themed Dead Legion. Set on a war-torn battlefield that’s shrouded in mist, Dead Legion unfolds within a macabre world where the dead legions have risen. An epic, dark live orchestral soundtrack intensifies the atmosphere across the 5×3 reels.

Reflex Gaming is heading deep into ancient ruins with the launch of The Cursed Idol of Montezuma Treasure Hunt, a visually stunning, Aztec-themed slot that introduces the company’s exclusive Treasure Hunt game mechanic. This 6×4, 20-payline title combines mystery, tension and progressive gameplay in a setting inspired by the legends of Montezuma.

Precision meets power in Crown Supreme Hold & Win from ICONIC21, the in-demand iGaming content provider. To take the throne, players must navigate a compact 3×3 grid and the regal Hold & Win mechanic in a slotting experience that pulses with anticipation and big win potential.

Relax Gaming, the iGaming aggregator and supplier of unique content, has launched Net Gains Dream Drop, a high-energy sequel where players can reel in massive rewards beneath the waves. Packed with coastal chaos and big catch potential, Net Gains Dream Drop offers 4,096 ways to win, three types of Mystery Symbols, Coin Collection mechanics, stacked Wilds, and more.

SlotMatrix, the world’s largest casino content aggregator, proudly announces the launch of 20 Armadillos, a thrilling new slot adventure set deep in a jungle where fortunes roll wild. 20 Armadillos is a 5-reel, 4-row slot with 20 lines, medium-high volatility and RTP options of 94.16% and 96.96%. With a maximum multiplier of 30,000x and a responsive, mobile-first design, the game blends rich visuals with high win potential.

Amusnet has released its latest video slot, Roman Coins – a game that captures the magnificence of the Roman Empire and brings it to life on the reels. It is Amusnet’s first-ever 3-pot video slot. With a 5-reel layout and 25 fixed paylines, Roman Coins strikes a perfect balance between classic slot structure and innovative mechanics.

Play’n GO throws the switch on Lab of Madness It’s a Wild!, a gothic comic-inspired slot that surges with strange science and surprise. Players join the unconventional Dr Frankenstein as she attempts to jolt her patchwork Monster to life in a lab where every pull of the lever sparks new possibilities.

Playson, the accomplished digital entertainment supplier, ups the ante in its latest Irish folklore release, Golden Penny x1000, with a rare 6×5 reelset, x20,000 max win and a bountiful Free Spins Bonus. In an enchanted twist to base play, the colourful game field comes alive with collapsing symbols. Eight matching symbols form a winning combination, with the total of the symbols forming the win value.

Evoplay, the award-winning game development studio, has launched Lunar Wilds, an atmospheric slot that combines mystical forest visuals with powerful features and big win potential. Set beneath a silver moon, the game transports players deep into an enchanted wilderness, where packs of wolves roam under the night sky.

The God of the Sea unleashes lavish gameplay in Blueprint Gaming’s latest offering, Rise of Atlantis Legacy, with the highly anticipated title introducing a new Gates of Atlantis bonus game, boosting the chance of significant cascading returns. Boasting the ability to appear on any of the six reels, Rising Multipliers offer enriched payouts if featured in a winning combination, which are added at the end of a successful cascade.

Stakelogic is setting sail into uncharted waters with its latest slot release, Kraken’s Catch, a feature-packed, high-volatility slot where monstrous multipliers and a mysterious sea creature lie beneath the surface. This 5×3 slot with 15 win lines invites players on a nautical adventure where every spin can uncover treasures from the deep.

The post Week 38/2025 slot games releases appeared first on European Gaming Industry News.

Latest News

KSA Issues New Duty of Care Guidance for Gaming Arcades and Casinos

Published

1 day ago

September 19, 2025

George Miller

Reading Time: 2 minutes

The Netherlands Gambling Authority (KSA) has issued new guidance for gaming arcades and casinos to improve the implementation of their duty of care. The KSA previously visited gaming arcades across the country. These visits revealed that while most arcades are paying attention to their duty of care, implementation could be improved in some areas. The guidance the KSA is now sharing with license holders contains practical tools and explanations, but no new rules.

Duty of care of arcades

With the implementation of the Gambling Act (Wet Koa), the duty of care for gaming arcades has been further expanded. This means they are obligated to prevent and mitigate gambling addiction as much as possible. Since then, gaming arcades have taken steps to comply with this requirement. However, in practice, the stated good intentions and the relevant policy are not always sufficiently aligned. The KSA has discussed this with various parties within the sector. Based on the input from these discussions, the new guidance has been developed.

Guidance

The guidance for arcades includes resources that providers can use to properly fulfill their duty of care and better inform their employees. The guide provides explanations and examples of what arcades must do and what the KSA expects of them. It also includes an overview of frequently asked questions. In addition to the guidance, a poster and an animation have been developed to raise awareness among arcade employees about the duty of care.

Along with the duty of care guidance, arcades also received a Guideline for Identity and Cruks Verification. The KSA regularly receives questions from the sector about the Cruks exclusion register. This guideline addresses the operation of Cruks and the most common questions and problems.

KSA chairman Michel Groothuizen said: “Certain key factors of the duty of care are easier to monitor for online providers than in brick-and-mortar casinos. In our conversations with arcade owners, we’ve noticed that they want to do more with the duty of care, but sometimes still struggle with its proper implementation. With this new guidance, supplemented with informational materials for employees, we’re giving them new tools to do so. In this way, we’re working together to ensure that players are optimally protected even at brick-and-mortar providers.”

The post KSA Issues New Duty of Care Guidance for Gaming Arcades and Casinos appeared first on European Gaming Industry News.

Latest News

QuinnBet Expand Ospreys Partnership

Published

1 day ago

September 19, 2025

George Miller

Reading Time: 2 minutes

The Ospreys announced that official betting partner, QuinnBet, had expanded their partnership with the Ospreys. The partnership will see QuinnBet take a place on the Ospreys shorts of all three of the team’s kits this season.

The new, multi-year partnership will see the QuinnBet logo take a prominent placement on the back of all three playing shorts.

With the Ospreys competing in front of multi-continental audiences in both the BKT URC and EPCR Challenge Cup this season, QuinnBet’s brand is set to reap the benefits.

Launched in 2017, QuinnBet, regulated by the UK Gambling Commission, and in Ireland by The Gambling Regulatory Authority of Ireland, has firmly established themselves in the iGaming industry by providing a socially responsible service. With an emphasis on giving more back through unique promotions and excellent customer care, QuinnBet has become a trusted name in the industry.

Head of Commercial for the Ospreys, Richard Lancaster, said: “We’re delighted that QuinnBet have decided to expand their partnership with the Ospreys. We have already built a successful relationship, and we’re looking forward to building on that even further in the coming seasons.

“Working with QuinnBet has already been hugely beneficial for us in education around Safer Gambling awareness, and we’re already planning on how to improve on this even further as we look ahead to the future.”

Niall McPartland, Head of Commercial and Sponsorship at QuinnBet, added: “We are delighted to enter this significant three-year partnership with Ospreys Rugby.

“The partnership builds on our inaugural 24/25 season sponsorship of The Ospreys, and the extension until 2028 demonstrates the success of the partnership to date and the huge regard we have for the club.

“Ospreys are one of the dominant forces in Welsh rugby, producing numerous players who have gone on to represent Wales and The Lions internationally. We are therefore privileged that our association with the club, will showcase QuinnBet at the highest level to Rugby supporters across the UK, Ireland and internationally.

“We commit to utilising the partnership to promote our brand in conjunction with Safer Gambling, which is integral to our business and which Ospreys Rugby is fully supportive of. We would like to wish everyone at the club the very best for the season ahead.”

The post QuinnBet Expand Ospreys Partnership appeared first on European Gaming Industry News.