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Sportradar Announces Strong Third Quarter 2021 Financial Results
Sportradar Group AG , a leading global technology platform enabling next generation engagement in sports, and the number one provider of business-to-business solutions to the global sports betting industry, today announced financial results for its third quarter ended September 30, 2021.
Third Quarter 2021 Highlights
- Revenue in the third quarter of 2021 increased 30% compared to the third quarter of 2020 to €136.8 million ($158.7 million)1, driven by robust growth across all geographies and business segments
- Continued strong performance in the U.S. market with U.S. revenue in the third quarter of 2021 increasing by 119% compared to the third quarter of 2020. For the nine months ended September 30, 2021 the U.S. revenue reached €48.5 million ($56.3 million)1
- Adjusted EBITDA* in the third quarter of 2021 was up 21% compared to the third quarter of 2020 to €20.9 million ($24.2 million)1
- Strong Dollar-Based Net Retention Rate* of 128% at the end of third quarter of 2021, underscoring the continued success of our cross-sell and upsell strategy
- Successfully extended our partnership through 2028 with FanDuel Group, a leader in the U.S. sports betting market, covering pre-match betting services, live betting services, and betting entertainment tools
- Completed successful listing on Nasdaq, raising €546 million of primary net proceeds to fund continued growth in the business, providing the Company with €878 million to continue to invest in global growth
- For the full-year 2021, we expect revenue to be in the range of €553 to €555 ($641 to $644)1 million and Adjusted EBITDA* in the range of €99.5 to 101.5 ($115.4 to $117.7)1 million.
| Q3 |
Q3 |
Change |
||||
| 2021 |
2020 |
% |
||||
| Revenue | €136.8 | €105.3 | +30% | |||
| Adjusted EBITDA* | €20.9 | €17.3 | +21% | |||
| Adjusted EBITDA margin* | 15% | 16% | -7% | |||
| Dollar-Based Net Retention Rate* | 128% | 114% | +12% | |||
| Adjusted Free Cash Flow* | €32.9 | €13.5 | +144% | |||
| Cash Flow Conversion* | 158% | 78% | +102% | |||
_____________________
1 For the convenience of the reader, we have translated Euros amounts in the tables below at the noon buying rate of the Federal Reserve Bank of New York on September 30, 2021, which was €1.00 to $1.16.
* Non-IFRS financial measure; see “Non-IFRS Financial Measures and Operating Metrics” and accompanying tables for further explanations and reconciliations of non-IFRS measures to IFRS measures.
Carsten Koerl, Chief Executive Officer of Sportradar said: “Our strong results demonstrate the value we provide to our partners and customers around the world. We are the largest provider of sports intelligence in the world and the only profitable global sports technology platform of scale. Critically, we believe we are also the most innovative in developing technology solutions that enable our league customers, media and betting partners to use our ever-increasing data to attract and engage sports fans.”
Koerl continued, “We plan to continue to make significant investments, particularly in the U.S. The U.S. represents the primary area of focus to execute on our strategic growth plans, as the U.S. region is currently only 7 percent of our group revenues, representing a significant potential business opportunity as more states legalize betting and the market expands from $1 billion in 2019 to an estimated $23 billion in the next 10 years. Our recent Nasdaq listing in the U.S. was a tremendous milestone for our team, and we look forward to building on our success in a multitude of areas in the years ahead.”
Financial Highlights for the Three Months Ended September 30, 2021
- Revenue in the third quarter of 2021 increased by 30% compared to the third quarter of 2020 to €136.8 million
- Adjusted EBITDA* in the third quarter of 2021 increased by 21% compared to the third quarter of 2020 to €20.9 million
- Adjusted EBITDA margin* remains strong at 15% in the third quarter of 2021, a slight decrease compared to the third quarter 2020 due to additional IPO costs of approximately €5.7 million which were incurred in the third quarter of 2021. Eliminating the impact of IPO costs would result in an Adjusted EBITDA margin of 20%, illustrating our continuous ability to achieve operating leverage
- Dollar-Based Net Retention Rate* increased from 114% to 128% for the comparable twelve month period ending at September 30, 2020 and 2021 demonstrating continued execution of our upsell and cross-sell strategy and underscoring the quality of the products and services we provide our customers
- Adjusted Free Cash Flow* in the third quarter of 2021 increased by 144% to €32.9 million which resulted in a Group Cashflow conversion of 158%
- Cash totaled €768.4 million as of September 30, 2021. Total liquidity available for use at September 30, 2021, including undrawn credit facilities was €878.4 million
- Total Debt at September 30, 2021 was €436.7 million resulting in a net cash position of €331.7 million
Segment Information
RoW Betting
- Segment revenue in the third quarter of 2021 increased by 24% compared to the third quarter of 2020 to €78.6 million. This growth was driven primarily by uptake in our higher value-add offerings including Managed Betting Services and Live Odds Services, which increased by 63% and 20% respectively, as a result of new customers wins as well as increased turnover2 and volume.
- Segment Adjusted EBITDA* in the third quarter of 2021 increased by 36% compared to the third quarter of 2020 to €44.7 million. The Segment Adjusted EBITDA margin* improved from 52% to 57% in the third quarter of 2021 driven by growth in higher margin products.
_____________________
2 Turnover is the total amount of stakes placed and accepted in betting.
RoW AV
- Segment revenue increased in the third quarter of 2021 by 13% compared to the third quarter of 2020 to €29.0 million. This growth was impacted by COVID related schedule changes in 2020, when more matches than usual were played in Q3 2020. Adjusting for schedule changes Q3 2021 growth was approximately 30%, driven by volume growth as we were able to sell more matches (such as Soccer and Baseball) as well as growth from additional, new content (such as Copa America, Horse Racing and eSports) being sold to existing and new customers.
- Segment Adjusted EBITDA* in the third quarter of 2021 increased by 220% compared to the third quarter of 2020 to €9.6 million. The Segment Adjusted EBITDA margin* improved from 12% to 33% in the third quarter of 2021 driven by lower cost of some content.
United States
- Segment revenue in the third quarter of 2021 increased by 119% compared to the third quarter of 2020 to €19.6 million. This result was driven by growth in our US Betting services and increased revenue from our customers as the underlying market and turnover grew. We also experienced strong adoption of our ad:s product, growth in US Media and a positive impact from the acquisition of Synergy Sports in the second quarter of 2021.
- Segment Adjusted EBITDA* in the third quarter of 2021 increased by 24% compared to the third quarter of 2020 to -€(6.6) million. The Segment Adjusted EBITDA margin* improved from (-60%) to (-34%) in the third quarter of 2021 which reflects the scalability of this business and clear path to profitability while continuing to invest in the US market.
Costs and Expenses
- Personnel expenses in the third quarter of 2021 increased by €20.0 million compared to the third quarter of 2020 to €51.3 million resulting from additional hires in new business lines (2.849 FTE in the third quarter of 2021 vs 2.235 FTE in the third quarter of 2020), stock-based compensation, and reversal of temporary COVID 19 cost savings in the third quarter of 2021 compared to the third quarter of 2020.
- Other Operating expenses in the third quarter of 2021 increased by €15.7 million compared to the third quarter of 2020 to €25.2 million mainly driven by incurred costs for IPO, compliance costs relating to operating as a publicly listed company in the US and M&A costs.
- Total Sport rights costs in the third quarter of 2021 decreased by €9.0 million compared to the third quarter of 2020 to €28.7 million resulting from fewer major sporting events in the third quarter of 2021 compared to the third quarter of 2020.
- Adjusted EBITDA* in the third quarter of 2021 was negatively impacted by IPO costs of €5.7 million. Eliminating this impact would result in an Adjusted EBITDA* of €26.6 million.
Recent Business Highlights
- Issued and sold 19 million shares in connection with the closing of our IPO on Nasdaq raising €546 million of primary net proceeds
- Signed integrity partnerships with leading sports leagues and federations such as cricket’s Tamil Nadu Premier League (TNPL), Badminton Europe and the Austrian Tennis Association
- Secured a multi-year exclusive official data and media rights deal with Ligue Nationale de Basket (LNB), France’s top basketball league
- Implemented full Computer Vision models for Grand Slam tennis events including Wimbledon and US open
- Combined newly developed AI tools with our Managed Trading Services, Sportradar’s holistic trading service for sportsbook operators, to more accurately detect potential betting related match-fixing
- Announced partnership extension with US market leader FanDuel Group through 2028
- Announced a five-year deal with US betting and iGaming operator, Bally’s Interactive, to help support and grow sportsbook operations in the US
- Celebrated three wins at the EGR B2B Awards in the Best Customer Service and Live Streaming Supplier categories, as well as the recently acquired Fresh Eight being shortlisted for Best Marketing and PR Supplier
Financial Outlook
For the full-year 2021, the Company currently expects:
- Revenue in the range of €553 million to €555 million, representing growth of 36.6% to 37.1% for fiscal 2021
- Adjusted EBITDA* in the range of €99.5 million to €101.5 million, representing growth of 29.4% to 32.0% for fiscal 2021
Conference Call and Webcast Information
Sportradar will host a conference call to discuss the third quarter 2021 financial results on November 17, 2021 at 8:00 a.m. Eastern Time (“ET”). The conference call can be accessed live over the phone by dialing 1-877-423-9813, or for international callers 1-201-689-8573. A replay will be available from 11:00 a.m. ET on November 17, 2021 through November 24, 2021, by dialing 1-844-512-2921, or for international callers 1-412-317-6671. The replay passcode will be 13724560.
South Africa is once again positioning itself as a leader in ethical gambling practices, with the upcoming Responsible Gambling Summit 2025 set to take place on 13–14 November 2025 at Emperors Palace in Kempton Park, Gauteng. This landmark event will gather international experts, regulators, and industry professionals to address the most pressing challenges in responsible gambling across Africa.
Hosted by the South African Responsible Gambling Foundation (SARGF) in collaboration with major regulatory bodies such as the National Gambling Board, Eastern Cape Gambling Board, and Western Cape Gambling and Racing Board, the summit aims to drive forward an evidence-based, solutions-focused agenda that ensures gambling growth does not come at the cost of public well-being.
As South Africa continues to see rising participation in both land-based and gambling online, the summit is timely. It will tackle issues ranging from technological safeguards and public health integration, to policy harmonisation and vulnerable population protection.
Advocating for Safer Online Gambling
As South Africa strengthens its role in setting responsible gambling standards, SouthAfricanCasinos.co.za remains at the forefront of this effort in the online casino space. Our portal is more than a online casino listing site — it is a trusted source of expert advice, consumer guidance, and responsible gambling advocacy.
Since our inception, we have maintained a clear policy: we only recommend licensed, regulated casinos in south africa that adhere to strict player protection measures. These include transparent terms, fair bonus practices, and built-in tools such as deposit limits, time-outs, and self-exclusion options.
“The online gambling landscape in South Africa is growing rapidly,” says a spokesperson for SouthAfricanCasinos.co.za. “But with growth comes responsibility. Our mission is to ensure players have access to safe, ethical gambling environments. We support the goals of the Responsible Gambling Summit and encourage every operator to prioritise the welfare of their players.”
Practical Frameworks for Change
The Responsible Gambling Summit 2025 will focus on seven key thematic areas:
- Understanding gambling behaviour and disorders through science-led approaches.
- Overcoming barriers to effective policy implementation, including gaps in education and enforcement.
- Leveraging technology, such as AI-driven risk detection and real-time player monitoring.
- Adopting global regulatory best practices tailored to South African realities.
- Protecting at-risk individuals and communities, especially youth and those in lower-income brackets.
- Educating the public on the risks of gambling and how to stay safe.
- Building international networks to ensure future readiness and consistency across borders.
Each session is designed to lead to real-world outcomes, with progress monitored and reported biennially. This commitment to transparency aligns with broader calls for industry-wide accountability.
How Players Can Gamble Responsibly
Whether you’re new to online casinos or an experienced player, here are some essential responsible gambling tips:
- Treat gambling as entertainment, not a way to make money.
- Set a time limit before you start and stick to it.
- Only gamble with money you can afford to lose.
- Avoid playing when you are upset, stressed, or intoxicated.
- Use built-in responsible gaming tools provided by licensed operators.
- Keep track of your play history and regularly review your habits.
- Seek help if gambling is no longer fun, or if it begins to impact your personal life.
At SouthAfricanCasinos.co.za, we make these practices easier by highlighting casinos that offer responsible gambling features as part of our review process. Each recommended site undergoes a thorough evaluation based on licensing, fairness, transparency, and player protection standards.
Our Commitment to the South African Gambling Community
With a growing base of South African users, SouthAfricanCasinos.co.za plays an important educational role in the online gambling space. Our platform offers in-depth guides, news updates, free bonus casinos, free spins casinos and strategy articles designed to help players make informed decisions.
We actively follow developments in gambling regulation and work to ensure our listings are in line with the latest responsible gambling initiatives. As the conversation around ethical gambling evolves, so does our content — reflecting the high standards that South African players deserve.
South Africa’s leadership in responsible gambling sets a high standard not just for the continent, but for the global industry. By playing at casinos that are transparent, regulated, and committed to safety — such as those featured on SouthAfricanCasinos.co.za — players can enjoy the entertainment of gambling while staying in control.
The post South Africa is Leading the Call for Responsible Gambling in African Countries appeared first on Gaming and Gambling Industry in the Americas.
South Africa is once again positioning itself as a leader in ethical gambling practices, with the upcoming Responsible Gambling Summit 2025 set to take place on 13–14 November 2025 at Emperors Palace in Kempton Park, Gauteng. This landmark event will gather international experts, regulators, and industry professionals to address the most pressing challenges in responsible gambling across Africa.
Hosted by the South African Responsible Gambling Foundation (SARGF) in collaboration with major regulatory bodies such as the National Gambling Board, Eastern Cape Gambling Board, and Western Cape Gambling and Racing Board, the summit aims to drive forward an evidence-based, solutions-focused agenda that ensures gambling growth does not come at the cost of public well-being.
As South Africa continues to see rising participation in both land-based and gambling online, the summit is timely. It will tackle issues ranging from technological safeguards and public health integration, to policy harmonisation and vulnerable population protection.
Advocating for Safer Online Gambling
As South Africa strengthens its role in setting responsible gambling standards, SouthAfricanCasinos.co.za remains at the forefront of this effort in the online casino space. Our portal is more than a online casino listing site — it is a trusted source of expert advice, consumer guidance, and responsible gambling advocacy.
Since our inception, we have maintained a clear policy: we only recommend licensed, regulated casinos in south africa that adhere to strict player protection measures. These include transparent terms, fair bonus practices, and built-in tools such as deposit limits, time-outs, and self-exclusion options.
“The online gambling landscape in South Africa is growing rapidly,” says a spokesperson for SouthAfricanCasinos.co.za. “But with growth comes responsibility. Our mission is to ensure players have access to safe, ethical gambling environments. We support the goals of the Responsible Gambling Summit and encourage every operator to prioritise the welfare of their players.”
Practical Frameworks for Change
The Responsible Gambling Summit 2025 will focus on seven key thematic areas:
- Understanding gambling behaviour and disorders through science-led approaches.
- Overcoming barriers to effective policy implementation, including gaps in education and enforcement.
- Leveraging technology, such as AI-driven risk detection and real-time player monitoring.
- Adopting global regulatory best practices tailored to South African realities.
- Protecting at-risk individuals and communities, especially youth and those in lower-income brackets.
- Educating the public on the risks of gambling and how to stay safe.
- Building international networks to ensure future readiness and consistency across borders.
Each session is designed to lead to real-world outcomes, with progress monitored and reported biennially. This commitment to transparency aligns with broader calls for industry-wide accountability.
How Players Can Gamble Responsibly
Whether you’re new to online casinos or an experienced player, here are some essential responsible gambling tips:
- Treat gambling as entertainment, not a way to make money.
- Set a time limit before you start and stick to it.
- Only gamble with money you can afford to lose.
- Avoid playing when you are upset, stressed, or intoxicated.
- Use built-in responsible gaming tools provided by licensed operators.
- Keep track of your play history and regularly review your habits.
- Seek help if gambling is no longer fun, or if it begins to impact your personal life.
At SouthAfricanCasinos.co.za, we make these practices easier by highlighting casinos that offer responsible gambling features as part of our review process. Each recommended site undergoes a thorough evaluation based on licensing, fairness, transparency, and player protection standards.
Our Commitment to the South African Gambling Community
With a growing base of South African users, SouthAfricanCasinos.co.za plays an important educational role in the online gambling space. Our platform offers in-depth guides, news updates, free bonus casinos, free spins casinos and strategy articles designed to help players make informed decisions.
We actively follow developments in gambling regulation and work to ensure our listings are in line with the latest responsible gambling initiatives. As the conversation around ethical gambling evolves, so does our content — reflecting the high standards that South African players deserve.
South Africa’s leadership in responsible gambling sets a high standard not just for the continent, but for the global industry. By playing at casinos that are transparent, regulated, and committed to safety — such as those featured on SouthAfricanCasinos.co.za — players can enjoy the entertainment of gambling while staying in control.
Baltics
HIPTHER Confirms Exciting Networking Venues and Stage Themes for MARE BALTICUM Gaming & TECH Summit 2025
HIPTHER is thrilled to announce the official networking and social venues for the 2025 edition of the MARE BALTICUM Gaming & TECH Summit, taking place on 27–28 May in Vilnius, Lithuania. With three nights of curated gatherings designed to foster connection and celebration, the summit experience is as much about meaningful encounters as it is about cutting-edge insights.
This year’s networking activities will offer attendees a perfect balance of professional engagement and relaxed atmosphere – true to HIPTHER’s signature style of blending business with warmth and hospitality.
Day 0 – 26 May: The Welcome Meet
The networking begins on the evening before the official conference, as attendees gather for a warm and informal kick-off at Piano Man Bar, a cozy local favorite in the heart of Vilnius. From 18:00 to 22:00, guests will be welcomed into a laid-back atmosphere that sets the tone for the days ahead – whether reconnecting with familiar faces or raising a glass with new ones. The Welcome Meet is all about starting the summit in a relaxed style that fosters connection: with stories, laughter, and the kind of conversations that only happen when the pressure’s off.
Day 1 – 27 May: Evening Social Gathering & BSG Awards Ceremony
On the first official conference evening, the networking continues with a celebratory gathering at Jazz Cellar 11, one of Vilnius’ most atmospheric live music venues. Kicking off at 19:45 and continuing late into the night, the event will feature the 2025 BSG Awards Ceremony, honoring excellence across the Baltic and Scandinavian gaming sectors. With HIPTHER’s well-known sense of timing, the ceremony will be brief and to the point, allowing more time for informal exchanges, smooth jazz, and a relaxed yet elegant ambiance perfect for deepening connections.
Day 2 – 28 May: Closing Party
The final evening of the summit concludes in style with the Closing Party at Invino Vilnius, a refined wine bar located in the historic center of the city. Join us for an unforgettable evening, where wine flows, conversations spark, and the energy carries on into the night. Enjoy carefully selected wines, refreshing drinks, and delicious snacks in one of Vilnius’ coziest and most atmospheric venues. Beginning at 19:30, this farewell gathering will be the ideal evening to wrap up the MARE BALTICUM experience, reflect on new insights, and say “until next time” in true HIPTHER fashion.
Gaming & TECH Insights: A Dual-Stage Theme Built for Depth & Discovery
In addition to the social calendar, HIPTHER is proud to present the two official conference stages that will host both the insightful industry panels and the highly anticipated HIPTHER Academy Workshops:
Compliance & Operations Lab – Sponsored by Pace App
Designed for regulatory minds and operational leaders, this stage will spotlight the frameworks shaping fintech, gaming, and compliance today.
TechXperience Stage – Sponsored by NuxGame
A future-forward space dedicated to innovation and tech-fueled discussions across AI, Blockchain, Fintech, virtual reality, and beyond.
Together, the stages will welcome thought leaders and industry pioneers for meaningful discussions across verticals including iGaming, eSports, Fintech, Blockchain, AI, and more – while also hosting hands-on workshops from the HIPTHER Academy.
Hands-On Learning with HIPTHER Academy Workshops
Complementing the summit’s dual-stage agenda, the HIPTHER Academy Workshops will empower professionals with actionable tools and strategic insight across critical areas of gaming, tech, and law. Topics include:
- RegTech in Action: A deep dive into AML and compliance-ready frameworks for fintechs, led by ReguLearn Founder Viktorija Poluektova.
- Creative Rights, Real Risks: A legal and strategic guide to sponsorships, IP, and branding in gaming and entertainment, delivered by Andrius Gabnys and Jovita Morta Gabne of GABNÉ.GABNYS.
- Crypto Custody Under MiCA: A practical exploration of crypto regulation, transparency, and consumer protection under MiCA, with Anna Agu of Lex Law Office OU.
- Neuroshift: A neuroscience-powered workshop on rewiring performance and leadership mindset, facilitated by Maria Loumpourdi of Made From Within.
HIPTHER’s Co-Founder, Zoltan Tuendik, stated about this year’s Social Agenda and Conference Stages “MARE BALTICUM Gaming & TECH Summit has always been more than just another industry conference. It’s a community-powered experience where people connect, collaborate, and challenge ideas in an environment that feels both professional and personal. With this year’s mix of vibrant networking venues and the dual-stage format designed to fuel serious insight and discovery, we are doubling down on what makes this summit special. We look forward to welcoming everyone to Vilnius for what promises to be our most engaging edition yet.”
The MARE BALTICUM Gaming & TECH Summit 2025 promises a high-impact mix of strategic content and social experiences, creating the ideal setting for learning, inspiration, and building real industry relationships.
For more information and to view the full agenda, visit:
👉 hipther.com/events/vilnius
The post HIPTHER Confirms Exciting Networking Venues and Stage Themes for MARE BALTICUM Gaming & TECH Summit 2025 appeared first on European Gaming Industry News.
South Africa is Leading the Call for Responsible Gambling in African Countries
South Africa is Leading the Call for Responsible Gambling in African Countries
HIPTHER Confirms Exciting Networking Venues and Stage Themes for MARE BALTICUM Gaming & TECH Summit 2025
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