Aspire heads for NeoGames merger on strong first quarter

International B2B gambling group Aspire Global reported strong business momentum in the first quarter of 2022, according to an article published last week.

The company is ready to move into a merger with NeoGames, an iLottery solutions provider.

The company recorded an increase in its turnover in the first quarter of 31.7% to 46.3 million euros. The company also recorded an increase in EBITDA of 18.7%.

The update comes at the end of Aspire’s second quarter solely focused on B2B business, after it spun off its B2C units to Esports Technologies in October 2021.

After that, Aspire was able to grow in various European and North American markets, licensed its full offering in the Netherlands, and struck a deal between its BtoBet brand and BoyleSports in that country.

CEO Tsashi Maimon said the idea of ​​NeoGames taking over the company proves how valuable the company has become since listing on Nasdaq in 2017.

According to Maimon, NeoGames is promising because of growth opportunities, which would allow companies to obtain “substantial values”.

“The offering from NeoGames, an end-to-end iLottery solutions technology provider, is a natural step for Aspire Global and a strategic complement,” he commented. “Aspire Global is now clearly positioned as one of the leading igaming providers in the regulated markets. As part of the NeoGames group, Aspire Global will continue to leverage its core strengths. »

NeoGames made an offer of €11 per share, which would represent a total consideration of €410 million. Aspire accepted the deal.

See also: Gaming Backlash Against NFTs Gathers and Threatens Crypto Token Adoption

PYMNTS wrote that game developers have seen player exploitation from the rise of NFTs. The report notes that they consider it a “fraudulent and environmentally destructive” technology.

“NFTs are changing the meaning of what a game is, and that for us is quite concerning,” said Minecraft developer Cory Scheviak, according to the report. “People can make all the side arguments they want to get people jobs and the things they say are positive. But in the end, it was never really about players. It was never really about helping people. It was always about making as much money as possible.

——————————

NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022

On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveys 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.

Comments are closed.