Aspire Global raises 2021 revenue target to €200m
Full-year revenues rise 45% to €104.6m on B2C and B2B growth and entry into two new markets
Aspire Global has raised its 2021 revenue target to €200m after 2018 full-year revenues reached €104.6m, up from €72m the previous year.
EBITDA for 2018 increased 48.6% to €21.2m and is expected to reach €32m by 2021.
Group CEO Tsachi Maimon said the operator would continue its focus on both B2C and B2B operations with a new priority to increase game development in the upcoming year.
“Aspire Global will continue to pursue strong growth, both organically and through acquisitions, with a consistent focus on improving the offering, strengthening partnerships and seizing attractive opportunities in regulated markets,” Maimon said.
The operator reported Q4 2018 revenues of €32.9m, up 72% on the previous year, buoyed by B2B revenues surging 87% to €19.3m.
During the quarter, first-time deposits increased by 82% to 123,700 and the operator gained two new licences to operate in Sweden and Ireland.
A new group CTO was hired in January of this year and will drive an increased investment in the firm’s platform.
More tech team recruitment is planned for upcoming months.
The operator recently faced set-backs in Sweden after it failed to connect to the national self-exclusion scheme Spelpaus following its launch in the market in January.
Aspire resolved the technical issue shortly after it was flagged up by the regulator and relaunched its Swedish sites.
Regulus Partners said in an analyst note this morning: “Aspire is demonstrating that despite consolidation, core market maturity and regulatory hurdles there is still room for strong growth delivered by relative newcomers (in terms of scale if not age): especially if a multiple market view can be taken with efficient marketing capabilities and a modern, scalable platform.”