Edison Investment Research - Aspire Global (ASPIRE) Aspire Global - Investigating how to enhance growth

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Edison Investment Research

Kate Heseltine

Aspire Global - Investigating how to enhance growth

Aspire Global (AG) has announced a review of the role of the B2C segment (proprietary online gaming brands) in the group structure. The motivation for the review is to identify how best to accelerate the segment’s revenue growth profile, and thus the overall group profile. Potential outcomes include the sale of the segment or to merge it with another similar business, and management expects that the B2C brands would likely continue to be customers of its B2B segment. As well as providing profitable growth to AG since its IPO in FY17, strategically the segment has provided insight into wider product development in iGaming for the rest of the group. The B2C segment has provided CAGRs in revenue and EBITDA of c 13% and c 10% respectively since FY16, versus the group averages of 29% and 24%. CEO Tsachi Maimon discusses the review of the B2C segment in the following executive interview.

02/03/2021 2 EN

Underlying

Aspire Global

Aspire Global Plc is a Malta-based Business to Business (B2B) service provider for the online gaming market. The Company provides an advanced solution combining a robust platform, interactive games, and a set of comprehensive operational services. it operates through two segments: B2B and Business to Customer (B2C). It offers its B2B partners a full-service solution for launching and operating online casinos. It operates several proprietary casino brands, such as Karamba and Hopa, based on the same operational setup and technical platform that is offered to partners. Its IGaming solutions include customer relation management (CRM), licenses, payment and risk, account manager, regulations and compliance, and analysis.

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MT0001530105 Nasdaq Nordic Stockholm Malta

Provider

Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Kate Heseltine

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Aspire Global - Investigating how to enhance growth

Aspire Global - Termination of coverage

Aspire Global - Exceeding management’s FY21 guidance

Aspire Global - Exceeding management’s FY21 guidance

Actinogen Medical - Funding in place to complete XanaMIA Phase IIb

Games Workshop Group - Sigmar the fourth

Datatec - Encouraging H1 across all divisions

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