Aspire Global Q3 Shows Positive GrowthTia Winter | 8 November 2019
They have now shown a sustained growth pattern over two years. In those two years, Aspire Global has increased their footprint in a number of regions that they already have licences for. These are both inside and outside of the European Union. In addition to this growth, they have expanded to include three brand new markets for the company. Their operations within these regions will launch this year and next year.
Challenges Of Changing Regulations
The company is clearly focused on working in regulated markets, even though this does come with certain challenges. Sweden is one of the markets in which Aspire Global has a licence to operate, and the country’s government has made significant changes to their online casino regulations that have made life difficult for a number of gambling operators. Many companies have been fined heavily for contravening regulations that they claim aren’t clear. Aspire Global has managed to grow their business here despite these changes.
Another market the company operates in is the UK. Here, there have been big changes to the regulations to with anti money laundering and with social responsibilities. Aspire Global had to make big changes to the way they operate there in order to stay compliant. The company is also preparing for upcoming regulation changes in the Netherlands that are scheduled to come into play next year.
When asked about how these changes have impacted growth and revenue, chief executive officer Tsachi Maimon stated that regulatory changes often have a short-term impact. However, if the company works well within the regulations, they can still sustain growth.
A Closer Look At Q3 Figures
This theory is proven by the figures released by Aspire Global. Their B2B sector increased significantly in the third quarter, and makes up 63 per cent of the company’s total revenue. It showed an increase of 37.9 per cent from last year. On the other hand, B2C endeavours showed a decline of 8 per cent. This is largely due to a drop in sports betting. The third quarter of 2018 had a World Cup in it, which will always boost that sector of gambling.