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Sportradar Reports Strong First Quarter 2023 Results

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Sportradar Group AG, a leading global technology company focused on enabling next generation engagement in sports through providing business-to-business solutions to the global sports betting industry, today announced financial results for its first quarter ended March 31, 2023.

First Quarter 2023 Highlights

Revenue in the first quarter of 2023 increased 24% to €207.6 million ($226.2 million)1 compared with the first quarter of 2022.
The RoW Betting segment, accounting for 52% of total revenue, grew 25% to €108.5 million ($118.3 million)1, primarily driven by strong performance from Managed Betting Services (MBS) and Live Odds.
The U.S. segment revenue grew 55% to €39.7 million ($43.3 million)1 compared with the first quarter of 2022, driven by higher sales of betting products as well as the Company’s digital advertising (ad:s) product. The U.S. segment generated positive Adjusted EBITDA2 for the third consecutive quarter with an Adjusted EBITDA2 margin of 17%.
Total Profit for the first quarter of 2023 was €6.8 million compared with €8.2 million for the same quarter last year. The Company’s Adjusted EBITDA2 in the first quarter of 2023 increased 37% to €36.7 million ($40.0 million)1 compared with the first quarter of 2022, demonstrating operational leverage from higher revenue despite increased investment into Artificial Intelligence (AI) for liquidity trading, and Computer Vision technology.
Adjusted EBITDA margin2 was 18% in the first quarter of 2023, an increase of 176 bps compared with the prior year period.
Adjusted Free Cash Flow2 in the first quarter of 2023 was €12.4 million, compared with €12.9 million for the prior year period, as a result of improved working capital management offset by an unfavorable impact from foreign currency exchange rates. The resulting Cash Flow Conversion2 was 34% in the quarter.
The Company’s customer Net Retention Ratio (NRR) was 120% in the first quarter of 2023, an improvement over the NRR from the fourth quarter of 2022 of 119%.

Carsten Koerl, Chief Executive Officer of Sportradar said: “We started fiscal 2023 on solid footing, as we continued to deliver strong top line growth, predominately by growing our value add products such as MBS and Live Odds in the Rest of World business, and strong, profitable growth in our U.S. segment. We are also demonstrating operational leverage as we continue to focus on cost discipline across the organization and invest prudently to grow our top line. We are confident that our ongoing product innovation in AI and computer vision will enable us to remain a market leader and increase shareholder value for our investors.”

Key Financial Measures
In millions, in Euros € Q1 Q1 Change
2023 2022 %

Revenue 207.6 167.9 24 %

Adjusted EBITDA2 36.7 26.7 37 %

Adjusted EBITDA margin2 18 % 16 % –

Adjusted Free Cash Flow2 12.4 12.9 (4 %)

Cash Flow Conversion2 34 % 48 % –

Segment Information

RoW Betting

Segment revenue in the first quarter of 2023 increased by 25% to €108.5 million compared with the first quarter of 2022. This growth was driven primarily by increased sales of the Company’s higher value-add offerings including MBS, which increased 40% to €37.1 million as well as Live Odds services which increased 29% year over year.
Segment Adjusted EBITDA2 in the first quarter of 2023 increased by 6% to €47.4 million compared with the first quarter of 2022. Segment Adjusted EBITDA margin2 decreased to 44% from 51% in the first quarter of 2022 due to increased investment in AI technology for MTS and Computer Vision technology. These investments will enable the Company to further grow revenue and improve its Adjusted EBITDA margin over time.

RoW Audiovisual (AV)

Segment revenue in the first quarter of 2023 decreased 3% to €44.6 million compared with the first quarter of 2022. Revenue was impacted by the expected completion of the Tennis Australia contract partially offset by growth in sales to new and existing customers.
Segment Adjusted EBITDA2 in the first quarter of 2023 increased 27% to €11.3 million compared with the first quarter of 2022. Segment Adjusted EBITDA margin2 improved to 25% in the first quarter of 2023 compared with 19% in the first quarter of 2022 due to savings associated with the completion of the Tennis Australia contract.

United States

Segment revenue in the first quarter of 2023 increased by 55% to €39.7 million ($43.3 million)1 compared with the first quarter of 2022. Results were driven by growth in core betting data products and the ad:s product.
Segment Adjusted EBITDA2 in the first quarter of 2023 was €6.8 million ($7.4 million)1 compared with a loss of (€6.4) million in the first quarter of 2022. This is the third consecutive quarter with positive Adjusted EBITDA2 indicating the strong operational leverage in the U.S. business model despite continuous investments. Segment Adjusted EBITDA margin23improved to 17% from (25%) compared with the first quarter of 2022.

Costs and Expenses

Purchased services and licenses in the first quarter of 2023 increased by €11.6 million to €48.4 million compared with the first quarter of 2022, reflecting continuous investments in content creation, greater event coverage and higher scouting costs. Of the total purchased services and licenses, approximately €14.0 million were expensed sports rights.
Personnel expenses in the first quarter of 2023 increased by €25.2 million to €77.5 million compared with the first quarter of 2022. The increase was primarily as a result of increased investment for growth which was driven by higher headcount associated with investments in AI and Computer Vision, increased share based compensation, and inflationary adjustments for labor costs.
Other operating expenses in the first quarter of 2023 increased by €1.7 million to €21.2 million, compared with the first quarter of 2022, primarily as a result of higher software license costs, higher audit fees and implementation costs for a new financial management system.
Total sports rights costs in the first quarter of 2023 decreased by €2.8 million to €51.2 million compared with the first quarter of 2022, primarily due to savings from the expected completion of the Tennis Australia contract.

Recent Company Highlights

SportradarSportradar renewed its partnership with the Big Ten Network extends partnership with the Big 10 Conference to broaden its footprint in the U.S. college space by powering its OTT platform B1G+ through the 2024-2025 college athletics season. Sportradar is providing its technology and data-driven OTT solutions to manage B1G+’s OTT web, mobile and connected TV apps, UX/UI design and third party integration.
Sportradar announced the integration of its ad:s technology into Snapchat, creating a new channel for betting operators to engage and acquire customers using the Company’s paid social media advertising service. Using Snapchat’s advanced age and location targeting capabilities to ensure only legally qualified audiences are reached, betting operators have a potential to reach Snapchat’s 350 million daily active users and over 750 million monthly active users.
Sportradar was selected as the successful bidder for the global Association of Tennis Professionals (ATP) data and streaming rights starting in 2024 as a result of the Company’s commitment to product innovation. Sportradar offers the broadest reach to tennis fans globally and has been a supplier of official ATP Tour and Challenger Tour secondary data feeds since 2022.
Sportradar published its first Sustainability Report highlighting its commitment to sustaining its business, communities and environment. The report is based on Sportradar’s five key sustainability priorities, sustainability, people, oversight, respect and technology-led (SPORT), which are aligned with the standards and framework of the Sustainability Accounting Standards Board (SASB).
Sportradar Integrity Services released its second Annual Report on Betting Corruption and Match-Fixing in 2022, revealing the Company had identified 1,212 suspicious matches across 12 sports in 92 countries, an increase of 34% year over year. The overall data confirmed that 99.5% of sporting events are free from match-fixing, with no single sport having a suspicious match ratio of greater than 1%.
Sportradar named technology executive Gerard Griffin as Chief Financial Officer effective May 9, 2023. Mr Griffin previously served as CFO of Zynga Inc., a global leader in interactive entertainment, and will be responsible for Sportradar’s accounting, finance and investor relations functions. Mr. Griffin brings more than 25 years of leadership experience in financial and operational management within the gaming, media and technology sectors.

Annual Financial Outlook

Sportradar reaffirmed its annual outlook provided on March 15, 2023, for revenue and Adjusted EBITDA2 for fiscal 2023 as follows:

Sportradar expects its revenue for fiscal 2023 to be in the range of €902.0 million to €920.0 million ($983.2 million to $1002.8 million)1, representing growth of 24% to 26% over fiscal 2022.
Adjusted EBITDA2 is expected to be in a range of €157.0 million to €167.0 million ($171.1 million to $182.0 million)1, representing 25% to 33% growth versus last year.
Adjusted EBITDA margin2 is expected to be in the range of 17% to 18%.4

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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Team K9 Esports crowned champions of BGMS Season 4; secure INR 60 lakh in prize money

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Hydro was crowned the tournament’s MVP with 27 finishes, while TraceGod received the TVS Most Wicked Player award for his 113 finishes across the season

The three-day LAN finals garnered over 10 million views on YouTube and more than 500k views on JioHotstar across the Hindi, English, and Gujarati live streams.

The curtains have come down on the OnePlus Android Battlegrounds Mobile India Masters Series (BGMS) Season 4, with Team K9 Esports emerging as the undisputed champions of India’s most-watched esports tournament. After three days of high-octane LAN action at the NODWIN Gaming Arena in Chhatarpur, New Delhi, the champions walked away with the coveted BGMS trophy and the lion’s share of the INR 1.5 crore prize pool.

The grand finals, held from September 12 to 14, brought together the top 16 teams in the country for 12 intense matches and were broadcast live on NODWIN Gaming’s YouTube channel as well as on Star Sports Khel and JioHotstar, making it the only esports tournament in India with a national television presence. On YouTube, the finals drew more than 10 million views across Hindi, English, and Gujarati broadcasts over the three days, while on JioHotstar, they registered over 500k views during the same period, surpassing 200k on the final day alone.

OnePlus K9 Esports, led by in-game leader (IGL) Sahil Jakhar (Omega) and comprising Akshit Kumar (Arclyn), Harshit Yadav (Beast), Tanjot Singh (NinjaBoi), and Raghuraj Singh (Slug), dominated across all three days of competition. After topping the table on both Day 1 and Day 2 with consistent performances, the team carried their momentum into the final day to finish with a total of 107 points and three Winner Winner Chicken Dinners, claiming the BGMS Season 4 championship and securing INR 60 lakh in prize money.

They were followed closely by Sinewy Esports, who had qualified through the Battlegrounds Mobile India Challenger Series (BGCS), finishing second with 96 points and earning INR 22.6 lakh. iQOO SouL also ended with 96 points but were placed third on tiebreakers, recording 53 finishes compared to Sinewy’s 54. Infinix True Rippers and iQOO Revenant XSpark rounded off the top five with 93 and 89 points, respectively.

The MVP of the tournament was awarded to TRHydro of Team True Rippers, whose 27 finishes stood out as the highlight of the grand finals. The TVS Most Wicked Player award went to Joel Thomas (TraceGod) of Team Revenant XSpark for his remarkable tally of 113 finishes throughout the tournament.

When asked about their hard-fought victory, Sahil Jakhar, aka Omega, IGL of OnePlus K9 Esports, summed up the team’s emotions perfectly: “One in the bag, more to go!”

Organised by NODWIN Gaming, South Asia’s leading gaming and esports company, the fourth season of BGMS spanned over 28 days in its innovative dual-format structure. This season marked a significant evolution with the introduction of the BGCS as the official feeder league, giving grassroots talent the chance to rise to the professional stage. Through partner-led qualifiers such as OnePlus Campus Dominate and TVS Raider Wicked Battles, new teams and young players earned the opportunity to compete alongside India’s top-tier squads. In a historic step towards inclusivity, all-women rosters also took part in BGCS, breaking barriers and inspiring a new generation of female gamers to envision a future in competitive esports.

“BGMS Season 4 has truly set new benchmarks for esports in India. From the introduction of the dual-format league and the inclusion of all-women teams to welcoming new brands into the fold, this season has been about opening doors and broadening horizons for the entire ecosystem. Congratulations to K9 Esports for delivering an outstanding performance that defined this season. What makes me especially proud is that we continue to bring this action into Indian homes on national television and OTT platforms, ensuring that the very best of esports reaches the masses and cements its place in the mainstream. This journey was also strengthened by the trust and commitment of our Title Sponsor, OnePlus, along with all our partners whose support has helped BGMS evolve from a tournament into a movement that truly resonates across the country,” commented Akshat Rathee, Co-founder and Managing Director, NODWIN Gaming.

BGMS Season 4 was powered by an exceptional lineup of partners, each playing a vital role in making the tournament a success. OnePlus returned as the Title Sponsor and Official Smartphone Partner, while Android continued its association as the Co-Title Sponsor.

TVS Motor Company marked its third consecutive year of partnership, and Red Bull returned for the second year to energise players throughout the competition. Duolingo English Test made its debut as the Official Learning Partner, promoting accessibility and global opportunities for India’s youth. Swiggy came on board for the first time as the Official Food Delivery Partner, keeping players and crew fuelled, while Bisleri joined as the Official Hydration Partner. In a landmark moment, Tesla also made its esports debut in India by showcasing its Model Y cars at the BGMS Grand Finals.

With BGMS Season 4, NODWIN Gaming has not only redefined the scale of competitive gaming in the country but also cemented the tournament’s status as a cultural phenomenon that embodies the energy and aspirations of India’s youth.

The post Team K9 Esports crowned champions of BGMS Season 4; secure INR 60 lakh in prize money appeared first on European Gaming Industry News.

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Rocket League World Championship concludes in Lyon: NRG Esports crowned champions in front of nearly 10,000 fans; Major 2 comes to Paris La Défense Arena next year

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  • Record-breaking Rocket League World Championship 2025 concluded yesterday with around 10,000 fans per day at LDLC Arena
  • NRG takes home the $300,000 prize as this year’s Rocket League World Champions
  • Paris La Défense Arena (25,000 capacity) confirmed to host RLCS Major 2, May 20-24, 2026

After two landmark weekends for global esports with the Fortnite Global Championships and the Rocket League Championship Series in France, Rocket League is set for an even bigger arena in 2026.

Following a record-breaking World Championship in Lyon, the Rocket League Championship Series (RLCS) Major 2 will take over La Défense Arena in Paris from May 20-24, 2026, marking the largest venue to host a Rocket League event in history.

The Rocket League World Championship 2025 came to a thrilling close on Sunday evening as NRG Esports lifted the trophy in front of nearly 10,000 fans at the LDLC Arena in Lyon-Décines, France. Taking in the glory, the champions secured $300,000 and were declared Rocket League World Champions!

20 of the best Rocket League teams and 60 players from across the globe were onstage all together, representing every major region. North American team NRG’s Massimo “Atomic” Franceschi, Landon “BeastMode” Konerman and Daniel “Daniel” Piecenski dominated through the Group Stage before delivering a statement performance in the Grand Final, with a decisive 4-1 victory over Raleigh Major winners and RLCS 2025’s highest-scoring LAN team, Team Falcons.

Esports has dominated the French spotlight these past two weekends – with the Fortnite Global Championship and the Rocket League World Championship 2025 drawing record crowds and combining to deliver $50 million in economic impact for the city of Lyon.

Spectators from across more than 26 different countries travelled to France to watch 20 of the world’s best Rocket League teams compete for the title of World Champion. The energy of the Lyon crowd confirmed France’s status as one of esports’ true global homes, setting the stage perfectly for next year’s RLCS Major 2 in Paris.

Looking ahead to the 2026 season, the RLCS will scale up once again as La Défense Arena – Europe’s largest indoor venue and a regular home for large-scale sporting events – will welcome an expanded three full days of live audience action next May. With a capacity of 25,000, the arena will be one of the biggest venues in Europe to host an event in esports.

Additional details of the 2026 season were also revealed in Lyon, with the new season set to kick off this November with online Opens, followed by a brand-new Kick-Off LAN studio event in Copenhagen, Denmark this December. The RLCS Major 1 will take place in North America with further dates and locations for the first Major of the year and the Rocket League World Championships to be announced in the coming months.

For more details on the 2026 Rocket League Championship Series, including sign-up information and full schedules, visit the Rocket League Esports official site.

In case you missed it, Rocket League also announced Season 20 this weekend, which will be live on September 17 – check out the blog for more details on the new season.

The post Rocket League World Championship concludes in Lyon: NRG Esports crowned champions in front of nearly 10,000 fans; Major 2 comes to Paris La Défense Arena next year appeared first on European Gaming Industry News.

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Infront Bettor expands tennis portfolio through exclusive Australian Open video and data rights partnership

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New agreement with Tennis Australia (TA) includes top grand slam event, Qualifying and TA tournaments

Infront, through its dedicated division Infront Bettor, has significantly broadened its footprint in tennis after being named the data and video streaming partner for Tennis Australia.

The multi-year agreement includes the Australian Open, one of tennis’s four grand slams, and will provide licensed sportsbooks access to high-quality live content and reliable data thanks to market-leading strategic partners for streaming and data distribution. It marks the latest step in Infront Bettor’s growing presence in top-tier tennis, building on the five-year Official Data partnership with the International Tennis Federation (ITF).

In addition, Infront Bettor will collaborate closely with Tennis Australia’s Game Insights Group, focusing on exploring opportunities in data innovation and commercial data strategy.

Drawing on experience from its ITF partnership, Infront Bettor will also bring an emphasis on data harmonisation across the sport. This allows consumers of data to have consistent definitions regardless of the tennis competition and supports Tennis Australia’s ambition to create products and platforms that enhance the way fans and partners experience tennis.

Tennis Australia’s Chief Commercial Officer Cedric Cornelis said: “Partnering with Infront Bettor ensures we can deliver the highest standard of content to audiences globally, while maintaining a strong commitment to integrity and innovation. Their platform and experience in the sport will help us identify, reach, and delight new markets.”

Chris Catling, Head of Infront Bettor, added: “This is a landmark addition to our tennis offering and a major step in strengthening our global footprint in the sport. The Australian Open sits at the very top of the calendar and complements our existing partnership with the ITF by extending our reach across both elite and grassroots levels. We’re proud to be trusted by Tennis Australia and look forward to delivering value through reliable content, integrity-led operations, and a truly global distribution network.”

The partnership will also see Infront work closely with Tennis Australia’s Integrity Unit, combining best-in-class monitoring tools, risk assessments, and global market analysis to help uphold the integrity of all covered matches.

Infront Bettor is part of the Group’s Media, Betting and Technology unit led by Amikam Kranz as Senior Vice President. This combination of Infront’s media rights business with betting and technology provides more holistic commercial opportunities to rightsholders and innovative technology solutions to the betting industry.

 

The post Infront Bettor expands tennis portfolio through exclusive Australian Open video and data rights partnership appeared first on European Gaming Industry News.

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