Aspire Reports Revenue Surge Driven by B2B Growth in Q3 2019

Gaming tech firm, Aspire, witnessed its revenue ascend to €33.2 million (roughly $36.9 million) in the third quarter of 2019, a 16% jump compared to the corresponding period the previous year. This upswing was primarily driven by the company’s B2B activities, which saw a notable 40% revenue surge, reaching €21 million. This indicates the growing significance of Aspire’s B2B division, now representing a substantial 63% of the company’s overall revenue.

Despite a minor decrease in pre-tax earnings to €5.2 million, the company’s B2B sector displayed strong financial performance with a 15% increase in pre-tax earnings, hitting €4.3 million. Conversely, Aspire’s share price experienced a downward trajectory throughout the third quarter, falling from SEK 43 (approximately $4.50) in July to SEK 31.50 by September’s end.

Aspire has been strategically allocating resources towards expansion, apparent in the successful extension of its Swedish permit, the procurement of a bingo permit from the Gambling Commission, and the strategic purchase of Pariplay for €13.1 million. These calculated actions are anticipated to contribute to Aspire’s ongoing growth in 2020. Aspire’s chief executive, Tsachi Maimon, conveyed confidence in the company’s outlook, emphasizing the successful incorporation of Pariplay, a prominent content supplier and game aggregator.