Latest News

Sportradar Reports Strong Growth In First Quarter 2022

Published

3 years ago

May 18, 2022

Reading Time: 6 minutes

Overall revenue increased 31%; U.S. revenue increased 124% year over year
Company reiterated annual outlook for fiscal 2022 projecting strong annual revenue growth of 18% to 25%

Sportradar Group AG, the leading global technology company 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 first quarter ended March 31, 2022.

First Quarter 2022 Highlights

Revenue in the first quarter of 2022 increased 31% to €167.9 million ($186.4 million)¹ compared with the first quarter of 2021, driven by strong growth across all business segments. In particular, the U.S. segment revenue grew by 124% to €25.7 million ($28.5 million) compared with the first quarter of 2021.
Adjusted EBITDA² in the first quarter of 2022 decreased 5% to €26.7 million ($29.6 million)¹ compared with the first quarter of 2021 primarily due to higher costs associated with being a public company as well as reversal of certain temporary COVID-19 related cost savings versus the first quarter of 2021.
Adjusted EBITDA margin² was 16% in the first quarter of 2022, compared with 22% over the prior year period.
Adjusted Free Cash Flow² in the first quarter of 2022 increased by 100% to €12.9 million, compared with the prior year period. The resulting free cash flow conversion² was 48% in the quarter.
Strong Net Retention Rate², based on the last twelve months, increased to 121% at the end of the first quarter of 2022 compared with 107% the same period in 2021 highlighting the continued success of the Company’s cross-sell and upsell strategy across its global customer base.
Cash and cash equivalents totaled €715.5 million as of March 31, 2022. Total liquidity available for use at March 31, 2022, including undrawn credit facilities was €825.5 million.
The Company reiterated its previously provided annual outlook for full-year 2022 for revenue and Adjusted EBITDA². Please see the “Annual Financial Outlook” section of this press release for further details.

Key Financial Measures	Q1	Q1	Change
In millions, in Euros €	2022	2021	%

Revenue	167.9	128.5	31%

Adjusted EBITDA²	26.7	28.2	(5%)

Adjusted EBITDA margin²	16%	22%	–

Adjusted Free Cash Flow²	12.9	6.5	100%

Free Cash Flow Conversion²	48%	23%	–

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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 March 31, 2022, which was €1.00 to $1.11.
² 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 fiscal 2022 is off to a fast start, with core, high-margin betting products driving growth around the world. Our U.S. business continues its tremendous growth story as more states legalize and sports betting becomes live, mainstream entertainment. As the market leader, our technology and data-driven insights continue to transform the converging media, entertainment and sports industries and fuel our consistent and long-term profitable growth story.”

Segment Information

RoW Betting

Segment revenue in the first quarter of 2022 increased by 25% to €86.7 million compared with the first quarter of 2021. This growth was driven primarily by increased sales of our higher value-add offerings including Managed Betting Services (MBS) which increased 51% to €26.4 million and Live Data/ Odds Services, which increased 16% to €46.8 million. MBS growth is attributable to increased turnover³ and Live Data/ Odds Services grew as a result of upselling content to existing customers. MBS includes Managed Trading Services (MTS) and Managed Platform Services (MPS). Additionally, increased content sales from the Synergy acquisition contributed to the growth.
Segment Adjusted EBITDA² in the first quarter of 2022 increased by 13% to €44.6 million compared with the first quarter of 2021. Segment Adjusted EBITDA margin² decreased to 51% from 57% in the first quarter of 2021 driven by temporary savings in sport rights and scouting costs in the prior year related to the COVID-19 pandemic as well as acquisition of new sport rights.

RoW Audiovisual (AV)

Segment revenue increased in the first quarter of 2022 by 17% to €45.9 million compared with the first quarter of 2021. This growth was primarily a result of increased content from Tennis Australia and the National Hockey League (NHL) as well as upselling content from the Synergy acquisition.
Segment Adjusted EBITDA² in the first quarter of 2022 was flat at €8.9 million compared with the first quarter of 2021. Segment Adjusted EBITDA margin² decreased to 19% from 23% compared with the first quarter of 2021 primarily due to higher sports rights costs driven by the easing of the COVID-19 pandemic versus prior year, and acquisition of new sports rights.

United States

Segment revenue in the first quarter of 2022 increased by 124% to €25.7 million compared with the first quarter of 2021. This growth was driven by increased sales of U.S. Betting services primarily as a result of new states legalizing betting. We also experienced growth from increased sales to media companies and a positive impact from the acquisition of Synergy Sports.
Segment Adjusted EBITDA² in the first quarter of 2022 was (€6.4) million compared with the first quarter of 2021 of (€3.6) million, primarily due to increased investment in the Company’s league and team solutions focused business. Segment Adjusted EBITDA margin² improved to (25%) from (32%) compared with the first quarter of 2021 reflecting an improvement in the U.S. segment operating leverage.

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2} 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.
³ Turnover is the total amount of stakes placed and accepted in betting.

Costs and Expenses

Personnel expenses in the first quarter of 2022 increased by €13.7 million to €52.3 million compared with the first quarter of 2021 primarily resulting from additional hires in the Company’s product and technology organizations across high and low-cost locations. Employee headcount increased by 620 to 3,075 full time employees at the end of the first quarter of 2022 compared with the first quarter of 2021.
Other Operating expenses in the first quarter of 2022 increased by €5.0 million to €19.5 million compared with the first quarter of 2021 mainly driven by higher costs associated with being a public company, and the reversal of temporary COVID-19 related cost savings versus the prior year.
Total Sport rights costs in the first quarter of 2022 increased by €13.1 million to €54.0 million compared with the first quarter of 2021, primarily resulting from new rights for 2022 for ICC, UEFA, ATP and a normalized schedule in sports such as NBA, NHL and MLB, as COVID-19 pandemic restrictions eased.

Recent Business Highlights

In April 2022, Sportradar acquired Vaix, a pioneer in developing AI solutions for the iGaming Industry. Vaix’s innovative AI technology allows betting and gaming operators to gain a personalized view of their customers, which provides a more targeted, player-friendly experience. Sportradar has partnered with Vaix previously and incorporated its technology into its Managed Trading Services (MTS) offering. Sportradar’s MTS solution is a sophisticated trading, risk, live odds and liability management offering that helps betting operators boost margins and profits, while increasing efficiency and managing risk.
Sportradar was awarded a supplier registration for online/mobile wagering in Ontario. With this registration for online/mobile wagering from the Alcohol and Gaming Commission of Ontario, Sportradar now holds over 36 licenses in North America across states, territories, tribes, and Canada. Additionally, Sportradar Integrity Services and the Canadian Hockey League announced a multi-year education and bet monitoring services agreement. This new relationship increases Sportradar Integrity Services’ portfolio of ice hockey partners to nine different leagues and federations around the world and strengthens its leadership position across North American sports leagues.
The Company continued to strengthen its U.S. leadership by appointing former Fiserv executive Michael Gandolfo as Group Head, Regional Sales. Gandolfo led Fiserv’s Large Financial Institution Sales and Service Team, responsible for over 300 top financial institutional clients.
Norwegian state gaming operator, Norsk Tipping, will deploy Sportradar’s internet-based Self-Service Betting Terminal (iSSBT) into 245 retail outlets across Norway to support the gaming operator’s growth. iSSBT is deployed in over 500 retail outlets, enabling Norsk Tipping to establish a mobile-first and online digital strategy, along with a retail presence.
Sportradar continued to advance its mission to detect, investigate and prevent betting-related match-fixing, doping and other threats to the integrity of sport by announcing a multi-year integrity partnership with NASCAR, an expansion of a previous agreement to provide bet monitoring and reporting with its Universal Fraud Detection System (UFDS), launching a Sportradar Integrity Exchange, a network that enables bookmakers to report suspicious betting activity and extended its work with the Austrian Federal Criminal Police on anti-doping.
The Company also announced that it will act as an advisor to Bowl Season on the sports betting space in a responsible manner, with a focus on educating the organization’s membership on the rapidly evolving world of sports betting, as well as the opportunity to expand the scope to include Sportradar’s Integrity Services.

Annual Financial Outlook

Sportradar is reiterating its outlook for fiscal 2022 provided on March 30, 2022 as follows:

Revenue is expected to be in the range of €665.0 million to €700.0 million ($738.2 million to $777.0 million)¹, representing growth of 18% to 25% over fiscal 2021.
Adjusted EBITDA² is expected to be in the range of €123.0 million to €133.0 million ($136.5 million to $147.6 million)¹, representing growth of 21% to 30% over fiscal 2021.
Adjusted EBITDA margin² is expected to be in the range of 18.5% to 19.0%, an improvement over the prior year.⁴

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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 March 31, 2022, which was €1.00 to $1.11.
² 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.

Latest News

S8UL Launches 12-City Esports World Cup Watch Party Tour and Exclusive Creator Experience in Mumbai

Published

13 hours ago

July 21, 2025

George Miller

Reading Time: 2 minutes

In a landmark moment for Indian esports, S8UL Esports, the country’s most celebrated gaming and content organization, has rolled out a nationwide fan and creator engagement campaign for the Esports World Cup (EWC) 2025. The dual initiative includes a 12-city Watch Party Tour across India and a parallel invite-only creator experience at the S8UL Gaming House 2.0 in Mumbai, both designed to bring the EWC excitement closer to home while uniting fans and creators around Team India’s journey on the world stage.

S8UL is the first and only Indian organization selected to be a part of the EWC Foundation’s Club Support Program, placing it among a global elite of teams competing in the tournament. The campaign is powered by iQOO, the official title sponsor.

A Fan-First Nationwide Tour

Bringing the thrill of Riyadh to Indian fans, S8UL is hosting the EWC x S8UL Watch Party tour- a multi-city celebration designed to give fans a front-row seat to S8UL’s EWC journey. The event will be held at one of each city’s top-tier restaurants or leading colleges, transforming the space into a vibrant celebration of esports culture. An open-invite, fan-first celebration of India’s run at the EWC 2025. The watch party will take place in 12 cities, where fans can enjoy the tournament’s action live alongside S8UL creators and community members. The experience will feature live match screenings, meet and greets with top S8UL creators, fun brand activations, gaming engagement zones, food and beverages, and themed photo spots perfect for content creation.

From Delhi to Kolkata, Bangalore to Jaipur and more, fans will experience esports like never before – not just as spectators, but as part of a nationwide movement to back Team India.

S8UL Gaming House Transforms for EWC 2025 While fans gather across India, the S8UL Gaming House 2.0 in Mumbai has been transformed into a private, content-driven creator space throughout the duration of the Esports World Cup. Starting this week, it will host weekly invite-only gatherings for top Indian gaming creators to come together and celebrate S8UL’s EWC matches. The vibe is casual yet collaborative, offering creators a chance to watch the matches as a squad, take part in in-house challenges and brand activations and capture real-time content including vlogs, reactions and social clips. This setup

allows creators to share authentic moments from real-time reactions to behind-the-scenes collaborations with millions of fans online, amplifying India’s EWC presence far beyond the venue.

“We’ve always believed in building the Indian esports community together – fans, creators, players, and partners,” said Animesh Agarwal, Co-Founder of S8UL. “The Esports World Cup is one of the biggest moments in global esports, and through this campaign, we’re making sure the whole country is part of the celebration. Whether you’re cheering from a college in Bangalore or vibing with creators in Mumbai, this is our time to unite and show the world the strength of Indian esports.”

EWC 2025 marks a defining moment for India on the global stage. With this campaign, S8UL invites every fan, every creator, and every supporter to be part of the journey. This dream was built together, now it’s time to cheer together as one united force for Indian esports.

The post S8UL Launches 12-City Esports World Cup Watch Party Tour and Exclusive Creator Experience in Mumbai appeared first on European Gaming Industry News.

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Betting That Works: DATA.BET’s Performance-First Approach to Sports Expansion

Published

14 hours ago

July 21, 2025

George Miller

Reading Time: 4 minutes

We sat down with Otto Bonning, Head of Sales at DATA.BET, to understand the vision behind their expansion from esports dominance into sports, and what this evolution means for operators worldwide.

Why did DATA.BET choose to expand from esports into traditional sports?

Otto: It’s a natural evolution for us. Over the past three years, we’ve built exceptional performance in esports for our clients, and now we’re ready to bring this expertise to the broader market. We have around 150 trading professionals, time-tested models, and proven capabilities – it only makes sense to expand our product offering. This isn’t just an add-on, it’s the next revolution in DATA.BET’s history.

What market gaps led you to develop a unified solution for these betting verticals?

Otto: The market lacks robust sportsbook solutions. Most operators face a choice: either sign up for a complete platform that includes everything from casino to payments, or piece together multiple providers. We identified a massive opportunity for our high-quality, plug-and-play solution that works seamlessly whether you’re a betting operator or a platform provider.

To meet this market demand and ease the integration journey, the DATA.BET team developed a Single Page Application (SPA or iFrame). Its key strengths lie in its flexibility, deep customization options – both visually and technically – and seamless integration.

For casino operators, it’s a simple solution to add quality betting without creating additional pain. It is as simple as adding a new game provider and can be completed in under a month. For betting operators and platform providers, it’s not only an addition of high-quality traditional sports, but also premium esports coverage that will help them earn more. This is a convenient option because they can connect our Odds Feed via API, or our SPA (iFrame) to their platform.

We’re offering a high-quality, personalized solution that really works for both operators and platforms. The achievements that made us a top esports provider – performance, reliability, and ease of integration – now apply to our complete sportsbook offering.

How does DATA.BET differ from competitors when handling both esports and traditional sports?

Otto: Three key differentiators set us apart. First, our technical foundation is built by developers who excel at creating technically complex solutions that are actually easy to integrate and scale for clients. No headaches, just steady performance day after day.

Second, we don’t just provide odds – we create them. Our in-house trading team combined with our data scientists and sophisticated algorithms, delivers consistent, high-performance margins across all sports. We work with official data sources, and our models are continuously tested and improved. This ensures we provide the best coefficients and quality feed.

Third, our betting product suite is comprehensive. Just like with esports, we’re bringing Bet Builder, Widgets, Video Streaming, and full functionality to sports and virtual. It’s not about having separate systems – it’s one unified, high-performance solution powered by our technical expertise, official data, and data science capabilities.

What problems do clients typically face before switching to DATA.BET?

Otto: Integration nightmares are, unfortunately, common in our industry. What we wanted to do was make one product and make it exceptionally high-quality from a technical standpoint, so that integration becomes seamless.

If you’re a casino operator, you can be up and running within 10 days. For B2B integrations, we’ve seen major platforms go live in just five weeks.

Our partnership with NuBet is a great example – they chose us for our broad market coverage, fast and seamless user experience, and a strong feature set, including Bet Builder, Video Streaming, and detailed in-game Widgets. The integration was smooth and collaborative, with both teams working hands-on. As NuBet noted, feature delivery has been rapid, feedback is valued, and issues are resolved promptly, without being left hanging.

The key to success is our integration team – they work around the clock and take an extremely bespoke approach to each client. When our partners are ambitious to go live quickly, we make it happen. The speed ultimately depends on the their readiness, but we remove all the traditional technical barriers from our side.

How do you adapt your solutions for different markets, particularly emerging regions like LatAm?

Otto: Regional differences are significant, from sports preferences to regulatory requirements. Take Brazil, for example. It’s heavily football-focused, which is why we’re enhancing our football content and securing official data rights for major leagues, including the Brazilian Série A and other Latin American competitions.

But here’s what’s interesting: esports ranks among the top three most popular betting categories in Brazil. Since we know how to do esports, combining that with top-tier football coverage creates a perfect solution for the LatAm market. We’re not just translating our product – we’re building it specifically for these markets.

What’s your approach for operators using separate providers for esports and sports?

Otto: We focus on demonstrating superior performance in specific areas. While we respect operators’ existing relationships with other providers, we can showcase our strengths in particular sports and esports disciplines. We’re exceptional at basketball and table tennis, for instance. Our models in these areas consistently outperform the competitors’.

The key is showing operators that consolidating with DATA.BET simplifies their operations and improves its margins and player experience. We work within the frameworks of our partnerships while finding ways to add value that others can’t match.

What’s particularly valuable is feedback from clients who initially were signed for esports, then also expanded to sports, and saw better performance than they had with their previous supplier.

What betting trends are you most excited about, and how is DATA.BET preparing?

Otto: The continued growth of live betting is transforming our industry. Players demand more engaging, responsive experiences – everything needs to happen in real-time. This is where our esports heritage gives us an advantage. Esports taught us that speed, accuracy, and synchronization are non-negotiable.

We’re building products where odds and game statistics visualization are timely matched. There’s no tolerance for a broken streaming feed with 30-second delays while odds update faster – that ruins the betting experience. Our unified approach ensures everything works together seamlessly. Widgets, Video Streaming capabilities, extensive markets – all synchronized and working as one cohesive system.

What’s the core message you want operators to understand about DATA.BET?

Otto: Simple: Betting that works. Stress-free, hassle-free, high-performance.

We deliver a fully functional, customizable sportsbook solution that adapts to your needs. Want to launch a new brand? Easy. Expanding to new markets? We have templates ready. Need to change your entire look and feel? It’s just a few clicks.

Our promise is steady performance, day after day, with all the tools you need to succeed. In an industry full of complexity, we’re the solution that works.

DATA.BET continues to expand its presence globally, with particular focus on emerging markets in Europe and Latin America. Their unified sportsbook solution represents a significant evolution from their esports roots, bringing the same performance-driven approach to traditional sports betting.

The post Betting That Works: DATA.BET’s Performance-First Approach to Sports Expansion appeared first on European Gaming Industry News.

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7777 gaming builds on Italian certification with Octavian Lab deal

Published

14 hours ago

July 21, 2025

George Miller

Reading Time: 2 minutes

7777 gaming has taken a significant step in its international expansion strategy by partnering with Octavian Lab. This strategic alliance reinforces the company’s commitment to establishing a strong presence in regulated European markets and marks a key milestone in its international growth plans. Through this collaboration, 7777 gaming’s certified portfolio of innovative online casino titles will be seamlessly integrated into Octavian Lab’s advanced aggregator called Hub Casino, making the games accessible to a wide network of licensed Italian operators.

“Partnering with Octavian Lab is a landmark moment for 7777 gaming,” said Elena Shaterova, Chief Commercial Officer at 7777 gaming. “Italy is a market we view as both strategic and full of potential. Through Octavian Lab’s Hub Casino, our certified games will reach a broad audience of experienced operators and players. We are confident that our titles will bring fresh energy, variety, and innovation to the Italian iGaming landscape.”

The integration includes 7777 gaming’s newly certified Italian portfolio, which features standout titles such as Crazy 100 Bucks, Cash 100, Thracian Treasures and Devil’s Deal Soul for Sale.

Each title is built for strong player engagement, offering features like bonus games, free spins, WILD symbols, multipliers, and buy-bonus options – meeting the demand of Italian players for variety and excitement.

“We are delighted to welcome 7777 gaming to our Hub Casino,” said Andres Galan Chillon, Senior Partnerships Manager at Octavian Lab. “Their portfolio brings fresh and exciting content that aligns perfectly with our commitment to providing innovative, high-quality gaming experiences for operators and players in Italy. We look forward to a successful partnership that drives growth and delivers real value to the Italian iGaming market.”

7777 gaming is an innovative online casino games provider, committed to delivering unique, engaging content that meets the highest standards of compliance and player satisfaction. With a growing presence across Europe, Africa, and Latin America and a strong focus on regulated markets like Italy – the company builds long-term partnerships that drive sustainable growth and deliver localized, high-performing gaming experiences. By combining

regulatory trust, creative excellence, and a passion for innovation, 7777 gaming continues to strengthen its position as a trusted partner in the global iGaming industry.

About 7777 gaming:

7777 gaming is an innovative and data-driven B2B igaming provider, founded in 2020 with the mission to revolutionize and challenge the status quo in the industry by offering 360-degree platform, state-of-the-art online casino games, iLottery, Jackpot, and marketing solutions, draw-based games, scratch cards, and much more.

The product is built by a dedicated team of visionaries with over 20 years of experience. The games and the RNG are tested and compliant in several highly regulated jurisdictions worldwide. Besides, the company achieved and maintained ISO 27001 certification. 7777 gaming holds a gambling license in Bulgaria and Romania and an MGA Certificate to provide its online casino games to these markets.

7777 gaming is already partnering with the leading aggregators and platform providers in the igaming industry.

[email protected]

https://www.7777gaming.com

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