{"id":268,"date":"2024-06-27T23:41:11","date_gmt":"2024-06-27T20:41:11","guid":{"rendered":"https:\/\/jumbabetnodepositbonuscodes.icu\/2024\/06\/27\/aspire-global-reports-strong-third-quarter-results\/"},"modified":"2024-06-27T23:41:11","modified_gmt":"2024-06-27T20:41:11","slug":"aspire-global-reports-strong-third-quarter-results","status":"publish","type":"post","link":"https:\/\/jumbabetnodepositbonuscodes.icu\/2024\/06\/27\/aspire-global-reports-strong-third-quarter-results\/","title":{"rendered":"Aspire Global Reports Strong Third Quarter Results"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/EtlCyQ5m-yU\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Aspire Global, a firm specializing in online gaming products, experienced a robust third quarter. Their financial performance surpassed the previous year, exhibiting growth in both revenue and earnings. <\/p>\n<p>The company generated \u20ac58.6 million in the three months concluding on September 30th, representing a significant increase compared to the prior year. This marks their most profitable quarter to date.<\/p>\n<p>Their B2B operations, focused on providing services to other businesses, also demonstrated strong performance. They achieved \u20ac42.6 million in revenue, a 45% surge compared to the previous year. This growth can be attributed to their successful business endeavors and the acquisition of BtoBet last year.<\/p>\n<p>Aspire Global secured new partnerships with JNS Gaming and Esports Technologies. JNS Gaming is poised to launch a new casino and sports brand, while Esports Technologies will migrate their Gogawi.com brand to Aspire&#8217;s platform.<\/p>\n<p>Aspire&#8217;s other divisions, Aspire Core and Pariplay, also exhibited impressive results. Aspire Core generated \u20ac32 million, reflecting a 24.8% year-over-year increase, while Pariplay achieved \u20ac7.8 million, representing a 66.5% year-over-year growth. <\/p>\n<p>Aspire Global&#8217;s revenue and earnings from direct-to-consumer (D2C) sales skyrocketed by a substantial 60.4% year-over-year, reaching a record 19.8 million euros. The company attributes this growth to the strong performance of all its brands and the launch of a new sports betting brand, BetTarget, powered by the BtoBet platform. They also introduced a new app for Hopa and a partner program.<\/p>\n<p>Shortly after the quarter concluded, Aspire announced plans to divest its D2C business to an American esports-focused company. This decision followed their March announcement to review their business operations.<\/p>\n<p>The $75.9 million deal was disclosed on October 1st and is anticipated to close by the end of the month.<\/p>\n<p>Aspire&#8217;s CEO, Tsachi Maimon, stated that the sale of their D2C business will enable Aspire to concentrate on business-to-business (B2B) operations, enhancing their strength and profitability. He also indicated that the sale will provide them with additional resources to enhance their B2B offerings and explore potential acquisitions.<\/p>\n<p>The divestiture of the D2C business will have a significant positive impact on Aspire Global&#8217;s position and financial performance as a B2B-focused company.<\/p>\n<p>In terms of geographical performance, the UK and Ireland emerged as Aspire&#8217;s most significant markets, generating 22.7 million euros, a 151.0% increase from the previous year. Revenue in other European regions declined by 8.3% to 22.5 million euros. However, revenue in the rest of the world surged by a remarkable 206.8% to 8.1 million euros. In the Nordic countries, revenue increased by 34.5% to 5.2 million euros.<\/p>\n<p>During the third quarter, expenses and costs rose by 52% to 49.4 million euros. <\/p>\n<p>The costs associated with depreciation and amortization climbed by 37.5%, reaching \u20ac2.2 million, compared to a 5% increase in the same period last year.  Meanwhile, financing costs increased by 18.2%, hitting \u20ac1.3 million.<\/p>\n<p>However, the substantial rise in revenue resulted in a 79.5% surge in pre-tax profit, reaching \u20ac7 million.  Earnings before interest, taxes, depreciation, and amortization (EBITDA) also saw a significant increase of 37.9%, reaching \u20ac9.1 million.<\/p>\n<p>Aspire paid \u20ac593,000 in taxes, and after accounting for a \u20ac428,000 loss on equity investments in related companies, net profit came in at \u20ac6 million, representing a 71.4% year-over-year increase.<\/p>\n<p>For the nine months concluding in September, Aspire&#8217;s total revenue increased by 38.2%, reaching \u20ac162.4 million.  B2B revenue saw a 36.2% increase, reaching \u20ac118.9 million, while B2C revenue experienced a notable growth of 49.9%, reaching \u20ac55 million.<\/p>\n<p>Group operating expenses increased by 39.0%, hitting \u20ac131.9 million, while depreciation and amortization costs rose by 41.9%, reaching \u20ac6.1 million.  Financing costs, however, decreased by 24.4%, reaching \u20ac3.4 million.<\/p>\n<p>Pre-tax profit increased by 84.4%, reaching \u20ac21.2 million, while EBITDA saw a year-over-year increase of 46.3%, reaching \u20ac27.5 million.<\/p>\n<p>After paying \u20ac1.8 million in taxes and experiencing a \u20ac1 million loss on equity investments in related companies, Aspire&#8217;s net profit reached \u20ac18.3 million, representing an 81.2% increase compared to the same period last year.<\/p>\n<p>&#8220;Aspire Global has consistently shown its ability to execute its growth strategy, achieving its financial targets and creating value,&#8221; stated Maimon.  &#8220;We see significant opportunities for growth through expanding with existing partners, acquiring new partners, and entering new markets.&#8221; <\/p>\n<p>Following our divestment of consumer-facing operations, we plan to invest heavily in technological advancements and product development, especially in Brazil and the United States. We will also be more proactive in acquiring other businesses.<\/p>\n<p>Our goal is to establish ourselves as a leading gaming company globally.<\/p>\n<p>Subscribe to the iGaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Aspire Global, a firm specializing in online gaming products, experienced a robust third quarter. Their financial performance surpassed the previous year, exhibiting growth in both revenue and earnings. The company generated \u20ac58.6 million in the three months concluding on September 30th, representing a significant increase compared to the prior year. This marks their most profitable [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Aspire Global Soars in Q3: Record Revenue &amp; Profits<\/title>\n<meta name=\"description\" content=\"Aspire Global delivers a stellar Q3, exceeding previous records with strong revenue and earnings growth. 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