Aspire Global Moves into Sports Betting with Btobet Buyout

The iGaming provider, Aspire Global, has just taken a step into sports betting by buying out the sportsbook provider, Btobet. Now, Aspire Global, who owns the popular casino Campeon UK, has made a deal to purchase all the Betobet shares for a cash sum of £18.2 million (€20 million). As well as this, there would be a performance-related earn-out. Indeed, this would equal seven-times Btobet’s EBIT in the second year from closing, minus the cash sum.

Overall, Btobet has 32 sportsbook partners using its platform. These cover all different markets in Europe, Latin America, and Africa. Overall, they earned revenues of £2.83 million (€3.1 million) in the first 6 months of 2020, with a £1.09 million (€1.2 million) EBITDA.

Another Acquisition

Aspire Global is now hoping to close the deal before the end of 2020. What’s more, this move follows the company’s buyout of games studio Pariplay, last year. As such, Aspire Global believes that by adding the sportsbook, it will now be one of the leading iGaming suppliers in the world.

The Chief Executive, Tsachi Maimon, said that the company would now enter the sports betting market “with storm strength”. Moreover, he believes that this buyout will make them “a true global B2B company” which will now be able to provide an iGaming platform, sportsbook, casino games, and top online casinos too. Furthermore, it offers managed services for all markets across a number of continents. He went on to say that they can now “compete for any deal, big or small, that exists out there”.

New Opportunities

The founder of Btobet, Alessandro Fried, said that he is very excited by the opportunities they have as part of Aspire Global. He calls the company “the powerhouse for iGaming operators”. Together, he believes that they can take the new offering to “every corner of the earth”. What’s more, he sees Aspire as the “perfect partner” with a vision that matches their own. Now, they can work together to “build a stronger presence globally”. But more importantly, offer more to their players on their in house casino brands too.