We've covered it extensively in the news – Esports Technology has wrapped up a top deal in the gaming industry at the end of 2021. The company has acquired the entire B2C business of Aspire Group. With the assets now on the company's balance sheet in 2022, Esports Technologies has provided an outlook for the coming months. Huge revenue increases are expected. The company's market position will be further strengthened.
Revenues for the first ten months at over $10 million.
The agreement between Aspire and Esports Technologies was reached in October 2021. In the meantime, the acquisition purchase price of a handsome $75.9 million has been paid. All Aspire assets will be under the direction of Esports Technologies.
The company announced that the new direction is expected to generate more than $70 million in revenue by September 2022. The forecast covers a period from Dec. 1, 2021, to Sept. 30, 2022.
Aaron Speach, Chief Executive of Esports Technologies, had this to say about his company's performance in the official press statement, “As we enter a successful 2022, we remain committed to growing our operational and financial performance. We expect to generate consistent cash flow for the remainder of 2022 by growing e-sports revenue in regulated markets and continuing to expand our portfolio of online sports betting and casino brands.”
The foundation for further serious expansion is the new gambling license from the UK Gambling Commission, which Esports Technologies secured immediately after the deal with Aspire Group.
The Aspire Group brands
The provider's eSports business is only peripherally affected by the acquisition. What is essential is that Esports Technologies is joining the ranks of the most important gambling providers in the sports betting and online casino sectors. The well-known, successful Aspire brands include, for example, Karamba Casino, Hopa Casino, Griffon Casino, BetTarget, Dansk777 and GenerationVIP. The gaming platforms are available in 15 countries. With over 1.25 million registered players, Esports Technologies has taken on a high customer potential. The synergy effects between eSports betting, normal sports betting and online casinos in particular are expected to ensure the increase in revenue.
Launch in the UK and expansion to Germany
The operator services agreement states that the launch will be in the UK. The offer of the Karamba, Hopa and Griffon brands will be expanded accordingly. In the second step, which will certainly take place just a few weeks later, Esports Technologies plans to focus on the other tier-on markets of Germany and Denmark. With the Aspire licenses, the provider can appear regularly and legally in the aforementioned countries for the first time.
Patent for new betting system as additional revenue driver
Finally, we do not want to forget that Esports Technologies filed a patent for a new betting system a few weeks ago. Players can bet on how financial instruments will perform within a certain period of time. The bets are deposited into a pari-mutuel pool, where the payouts are then calculated based on the turnover played. The novel betting module is not only suitable for financial bets, but can be used for all markets that start with a fixed price and subsequent changes.
