Aspire Global has reiterated confidence in achieving its financial targets for the year, as well as maintaining that a strong casino focus stands the firm in strong stead as global industries aim to navigate current uncertainties.
Heaping further praise on its €13.1m Pariplay acquisition in aiding geographical expansion, the ‘major step’ is also set to provide the firm with a springboard into the US market following an initial agreement inked with 888casino in New Jersey.
Following a 26 per cent increase in revenue for 2019 to €131.4m, Tsachi Maimon, CEO of Aspire Global, commented: “Aspire Global has been profitable since its foundation in 2005. That, in combination with our strong cash position and ability to generate cash, makes us confident about the continued execution of our growth strategy. Our broad market presence and product offering give us a solid ground for sustainable profitable growth.
“We will continue to enhance our multi-vertical offering while maintaining the search for M&A-opportunities, supported by our strong balance sheet. We are confident in our ability to meet our financial targets for 2021, €200m in revenues and €32m in EBITDA.”
Touching upon expansion strategies for the period ahead, Aspire is seeking partnership with those organisations that “have strong local presence but lack experience in igaming, such as media and on- line marketing companies”.
It is said that this will enable “companies to own and market igaming sites in their domicile without a license or any operational or technical expertise. Instead they can concentrate entirely on generating traffic.”
Furthermore, Aspire is also preparing for the coming regulation in the Netherlands and is finalising adjustments required by the regulator, Kansspelautoriteit.
The Dutch Remote Gaming Act passed the country’s Senate in February 2019, and is planned to enter into force on January 1 2021 with an expected long-term tax rate for licensees amounting to 29 per cent on gross gaming revenue.
Aspire asserts that strengthening has taken place to ensure the appropriate infrastructure and flexibility for various market conditions and coming integrations.
Sustainability has also remained a key focus for the period ahead, building on developments enjoyed thus far such as establishing a sustainability committee in order to emphasise the importance of a consistent, group wide sustainability focus.
“Aspire Global welcomes regulations as they provide equal conditions and transparency. As a supplier of the igaming fundament, ie the platform, services and content, Aspire Global has a wide impact on the industry as a whole and must keep sustainability top of the agenda, well integrated in the daily business,” explained Carl Klingberg, chairman of the board.
“To us, sustainability is mainly a question of responsibility: actively and credibly ensuring that our business doesn’t attract a vulnerable audience, promotes unhealthy gaming behaviour or condones criminal activity. This is our promise to players, partner operators and the communities where we operate, as well as investors who seek sustainable investments.
“We believe it is through correct segmentation, balanced marketing, effective gaming tools and proactive support that we can best help players to maintain sustainable consumption patterns based on their original intentions. Similarly, we are convinced that this strategy is the sustainable way forward, both operationally and financially.”