In 2020, Sportnco recorded a revenue of €19m (£16m/$23m), representing a 35.7% increase from the previous year’s $14m.
While there was a relatively equal distribution of revenue between B2B and B2C sectors in 2020, Sportnco experienced significant growth in its B2B segment. B2C activities generated €10m, an 89% YoY increase, while B2C revenue slightly increased by 3% to €9m.
Sportnco attributed part of its revenue growth to the acquisition of Tecnalis, a Spanish igaming platform provider, which had a positive impact on its financial performance in 2020.
Aside from revenue, Sportnco saw a 68% YoY rise in EBITDA, increasing from €3.7m to €6.1m. Furthermore, post-tax net profit rose by 50% to €1.8m.
By the end of the year, Sportnco was managing 36 real-money gaming clients across 13 regulated markets in Europe, Latin America, and the US.
“The past 12 months have showcased the strength of the Sportnco group,” stated the company’s CEO, Hervé Schlosser. “Despite the challenges posed by Covid-19, we have proven our resilience and ability to drive growth through strategic M&A activities like the acquisition of Tecnalis and its acclaimed Alira player account management platform. We are excited about the expanding global regulation of sports betting and gaming markets, and look forward to capitalizing on the opportunities that lie ahead.”
In addition, Sportnco entered the US igaming market earlier this year with the launch of a free-to-play sportsbook app for SuperDraft, a daily fantasy sports provider. SuperDraft is the official draft fantasy sports platform of Caesars Entertainment, who invested in the company in January.
