Update on COVID-19
Aspire Global is carefully monitoring the outbreak and spread of the COVID-19 (coronavirus) across the world. Pro-active measures have been taken to reduce the risk for the staff and to ensure business continuity.
Aspire Global Group is a leading iGaming supplier that provides platform and casino game services for operators across the world. The Group has offices in Malta, Bulgaria, India, Israel and Ukraine. Aspire Global Group holds twelve iGaming licenses in Europe and the US.
Aspire Global is a truly online Group where working remotely and meeting virtually are established ways of working. In order to protect the well-being of its more than 300 employees, Aspire Global two weeks ago banned all travelling. From early last week most employees work from home. By these actions, supported with its robust technology platform, Aspire Global has managed to secure a continued high service level towards customers both in the B2B and B2C segments.
Aspire Global’s operations are directed towards mainly the casino vertical. Sports betting represented approximately 5% of total revenues in the fourth quarter 2019, including the casino games studio and aggregator Pariplay which was acquired in October 2019. The casino operations have not been impacted by the outbreak of COVID-19. Up to yesterday evening, the daily trading in March has been higher than the daily trading in January and February 2020, which is in line with the Group’s business plan.
As an effect of the spread of COVID-19, a huge number of sports events have been or will be cancelled. Due to the relatively small part of revenues from sports betting, Aspire Global do not expect its revenues to be impacted by the broad cancellation of sports events. In order to mitigate the impact from the cancellation of sports events, Aspire Global and its B2B clients will re-allocate resources including media spend to the casino segment. In the light of the cancellation of sports events, the interest in virtual sports has significantly increased which benefits Pariplay since they provide operators with virtual sports services through three different top suppliers.
“The top priority for us today is to safeguard the health of our employees and their families. We took precautionary actions early and can today conclude that we have maintained a high service level towards our operator customers. Aspire Global has been profitable since its foundation in 2005. That, in combination with our strong cash position and ability to generate cash, we are confident about the continued execution of our growth strategy”, Tsachi Maimon, CEO of Aspire Global.
For more information, please contact:
Tsachi Maimon, CEO Aspire Global, tel: +356-7977 7898, email: investors@aspireglobal.com
Motti Gil, CFO, Tel: +356- 9924 0646 or email: investors@aspireglobal.com
This is information that Aspire Global is obliged to make public pursuant to the EU Market Abuse Regulation (MAR). The information was submitted for publication by the contact persons above at 12:30 pm (CET) on March 18, 2020.
This document is the English original. In the event of any discrepancy between the original English document and the Swedish translation, the English original shall prevail.
About Aspire Global
Founded in 2005, Aspire Global offers operators and white labels a comprehensive iGaming solution for casino, sportsbook and bingo. The robust, market-leading platform includes a complete suite of services such as multilingual CRM, payment and risk control, support call center, VIP management and acquisition optimization. Its wholly-owned subsidiary Pariplay is a leading B2B provider of iGaming solutions and games, including the state-of-the-art, proprietary content aggregation solution called Fusion™. The Fusion™ aggregation platform focuses on enhancing player value, by providing a suite of back-office conversion and retention tools for operators, plus access to thousands of games from leading game developers. Pariplay also has its own game development studios with a range of more than 100 innovative and entertaining slots.
The Aspire Group operates in several regulated markets including Denmark, Gibraltar, Ireland, Malta, Portugal, Romania, Sweden, the UK and the US. Aspire Global is listed on Nasdaq First North Premier Growth Market under ASPIRE. Certified Advisor: FNCA Sweden AB, info@fnca.se, +46-8-528 00 399. Please visit www.aspireglobal.com