Swedish B2B Gambling Group Aspire Heads Into NeoGames Merger on Strong Q1 Report

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International B2B gambling group Aspire Global reported strong business momentum in the first quarter of 2022, a article said last week.

The company is ready to move on to a merger with NeoGames, a provider of iLottery solutions.

The company saw an increase in Q1 revenue of 31.7% to €46.3 million. The company also saw a rise in EBITDA of 18.7%.

The update comes at the end of Aspire’s second quarter solely focused on B2B business, after it divested its B2C units to Esports Technologies in October 2021.

After that, Aspire was able to secure growth from various European and North American markets, and has gotten a license for its full offering in the Netherlands and is making a deal between its BtoBet brand and BoyleSports in that country.

CEO Tsashi Maimon said the idea of NeoGames taking over the company proves how valuable the company has become since its 2017 Nasdaq listing.

According to Maimon, NeoGames is promising because of the growth opportunities, which would make it so the companies could get “substantial values.”

“The offer by NeoGames, a technology-driven provider of end-to-end iLottery solutions, is a natural step for Aspire Global and a strategic fit,” he commented. “Aspire Global is today clearly positioned as a leading igaming supplier in regulated markets. As part of the NeoGames Group, Aspire Global will continue to take advantage of its key strengths.”

NeoGames put a bid of €11 per share, which would come out to a total consideration of €410 million. Aspire accepted the deal.

See also: Gaming’s Backlash Against NFTs Is Becoming Organized, Threatens Crypto Tokens’ Adoption

PYMNTS wrote that game developers have seen exploitation of gamers from the rise in NFTs. The report notes that they think of it as a “scam ridden and environmentally destructive” technology.

“NFTs change the meaning of what a game is, and that to us is quite worrying,” Minecraft developer Cory Scheviak said, according to the report. “People can make all of the side arguments they want about giving people jobs and the things they say are positives. But at the end, it’s never really been about players. It’s never really been about helping people. It’s always been about making as much money as possible.”