Betting group Aspire Global has published their first quarter financial results, revealing that revenues were up thanks in large part to their sportsbetting operation.
Key financial indicators for the first quarter ending March 31st, 2018 were:
- Revenues up 14% to €18.4 million
- B2B revenues up 24% to €9.7 million
- EBITDA up 6% to €2.4 million
- Lower margins of 15%
- Earnings per share down €0.02 to €0.04
Speaking about the performance Aspire CEO Tsachi Maimon said, "I am happy to present yet another positive quarter with continuous strong organic growth and EBITDA development compared to last year.
"2018 started off with the launch of sportsbook, a major event as the company entered into the largest field of iGaming and became the first provider of a full-service platform solution for casino and sports operators.
"The initial response exceeded expectations and we look forward to putting the product to the real test as the World Cup starts in just over a month.
"Meanwhile, we are exploring a number of M&A-opportunities and increase the focus on Karamba."
"After a seasonal, slower start to the first quarter contrasting the strong year-end, volumes rebounded creating a very positive trend that lasted all the way in to the second quarter. We feel confident in reaching solid year-on year growth in line with previous performance."