Aspire CEO emphasises importance of US and Brazil market expansion for company’s aspirations

Aspire Global’s CEO Tsachi Maimon has emphasised the importance of the Malta-based company’s performance in the US and Brazil for the achieving of its goal to become a “world leading” B2B iGaming supplier.

Speaking on Thursday in comments accompanying the company’s financial results for Q3, Mr Maimon explained that during the period, Aspire made “key progress” towards the establishment of strong positions in these markets.

More generally, the company had a positive third quarter, as revenues increased to €58.6 million, up 46 per cent compared to the €40.1 million earned in the same period a year earlier.

Earnings before interest, tax, depreciation and amortisation (EBITDA) also increased during the period, hitting €9.1 million.

So far this year, the company has earned a revenue of €162.4 million, and an EBITDA of €27.5 million.

Geographically, only in the ‘Rest of Europe’ category were disappointing revenues recorded.

Income from the Nordics increased by 34.5 per cent to €5.2 million while UK and Ireland incomes increased by 151.0 per cent to hit €22.7 million, driven by good development in all segments.

On the other hand, Rest of Europe earnings decreased by 8.3 per cent to €22.5 million, which Aspire says was mainly impacted by the new regulation in Germany.

Revenue from rest of the world increased by 206.8 per cent to €8.1 million, reflecting the group’s expansion in the Americas and Africa.

These results, according to Mr Tsachi, demonstrate the company’s consistent ability to execute its growth strategy, reaching its financial targets and creating value.

Looking to the future, especially considering the selling of its B2C segment to Esports Technologies, the company will “further enhance investments in [its] technology and product offering as well as geographic presence,” he added, before concluding: “We clearly execute our growth strategy to become a world-leading iGaming supplier.”