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Sportradar Reports Strong Growth in Fourth Quarter and Full Year 2021
Fourth quarter revenue grew 41% while full year 2021 revenue grew 39%, exceeding Company’s outlook
Annual revenue surpasses €500 million for the first time in Company’s history
Company projects solid annual revenue growth of 18% to 25% in fiscal 2022
Secured multiyear partnerships with NHL, NBA, ITF, ICC, UEFA, Bundesliga
Sportradar Group AG, a leading global technology company 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 fourth quarter and full year ended December 31, 2021.
Full Year 2021 Highlights and Annual Outlook
- Revenue for the full year of 2021 increased 39% to €561.2 million ($634.2 million)1 compared with the prior year, driven by strong growth across all business segments. Full year revenue exceeded the top end of the Company’s 2021 annual outlook range of €553 – €555 million.
- Adjusted EBITDA2 for the full year of 2021 increased 33% to €102.0 million ($115.3 million)1 compared with the prior year. Full year Adjusted EBITDA exceeded the top end of the Company’s 2021 annual outlook range of €99.5 – €101.5 million.
- Adjusted EBITDA2 for 2021 excluding Sportradar’s September 2021 Initial Public Offering (IPO) costs was €113.7 million ($128.5 million)1.
- Adjusted EBITDA margin2 for 2021 was 18% compared with 19% for 2020. Excluding IPO costs, Adjusted EBITDA margin was 20% for 2021.
- Strong Dollar-Based Net Retention Rate2 increased to 125% for fiscal 2021 compared with 113% for fiscal 2020 highlighting the continued success of the Company’s cross-sell and upsell strategy across its global customer base.
- Cash and cash equivalents totaled €742.8 million as of December 31, 2021. Total liquidity available for use at December 31, 2021, including undrawn credit facilities was €852.8 million.
- Sportradar extended multiyear partnerships with the National Hockey League (NHL), National Basketball Association (NBA), International Tennis Federation (ITF) and Bundesliga International, in addition to securing new deals with the International Cricket Council (ICC) and the Union of European Football Associations (UEFA). These deals reinforce Sportradar’s leadership as a trusted technology and data partner to the biggest leagues and federations around the world.
- The Company provided an annual outlook for full-year 2022 for revenue and Adjusted EBITDA2. Revenue is expected to be in the range of €665.0 million to €700.0 million and Adjusted EBITDA2 is expected to be in the range of €123.0 million to €133.0 million. Please see the “Annual Financial Outlook” section of this press release for further details.
Fourth Quarter 2021 Highlights
- Revenue in the fourth quarter of 2021 increased 41% to €152.4 million ($172.2 million)1 compared with the fourth quarter of 2020, driven by robust growth across all business segments.
- Continued strong performance in the U.S. market with U.S. revenue increasing by 92% to €23.2 million ($26.2 million) 1 compared with the fourth quarter of 2020.
- Adjusted EBITDA2 in the fourth quarter of 2021 increased 14.0% to €21.4 million ($24.2 million)1 compared with the fourth quarter of 2020.
- Adjusted EBITDA margin2 was 14% in the fourth quarter of 2021, compared with 17% over the prior year primarily as a result of increased investment in content and technology, higher costs related to being a public company, as well as higher M&A costs.
- Adjusted Free Cash Flow2 in the fourth quarter of 2021 decreased to (€22.5) million which resulted in a cash flow conversion2 of (105.1%) primarily as a result of additional interest from the Company’s senior secured term loan facility originating in November 2020, timing of sports data licensing payments to leagues, IPO related payments as well as higher costs associated with being a public company.
________________________
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 December 30, 2021, which was €1.00 to $1.13.
2 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.
Key Financial Measures
In millions, in Euros € | Q4 | Q4 | Change | FY | FY | Change | ||||||||
2021 | 2020 % | 2021 | 2020 % | |||||||||||
Revenue | 152.4 | 108.0 | 41% | 561.2 | 404.9 | 39% | ||||||||
Adjusted EBITDA2 | 21.4 | 18.8 | 14% | 102.0 | 76.9 | 33% | ||||||||
Adjusted EBITDA margin2 | 14.0% | 17.4% | – | 18.2% | 19.0% | – | ||||||||
Adjusted Free Cash Flow2 | (22.5) | 7.1 | – | 14.5 | 53.5 | (73%) | ||||||||
Cash Flow Conversion2 | (105.1%) | 37.5% | – | 14.3% | 69.6% | – | ||||||||
Carsten Koerl, Chief Executive Officer of Sportradar said: “I am very pleased with our strong results, which illustrate how well we are delivering on our operational and growth plans. Importantly, we have good momentum going into our next fiscal year. We are continuing to invest in content, technology and people that will allow us to deliver profitable growth in line with our goals.
Koerl continued, “We are particularly pleased about more than doubling our year-over-year revenues in the United States, which continues its explosive sports betting growth story. Sportradar has been a leader in this market since 2014, and we’re now seeing the results of our early investment. We continue to see the enormous opportunity as sports betting becomes an increasingly integral part of the media entertainment fabric in the U.S.
Segment Information
RoW Betting
- Segment revenue in the fourth quarter of 2021 increased by 30% to €82.2 million compared with the fourth quarter of 2020. This growth was driven primarily by uptake in our higher value-add offerings including Managed Betting Services (MBS) and Live Odds Services, which increased by 74% and 26% respectively. MBS experienced record turnover3 and Live Odds grew as a result of higher volume of sports coverage.
- Segment Adjusted EBITDA2 in the fourth quarter of 2021 increased by 58% to €45.7 million compared with the fourth quarter of 2020. Segment Adjusted EBITDA margin2 improved to 56% from 46% compared with the fourth quarter of 2020 driven by growth in higher margin products.
- Full year 2021 revenue grew 32% to €309.4 million compared with the prior year of 2020. Full year Adjusted EBITDA2 increased 49% to €177.0 million. Full year 2021 Adjusted EBITDA margin2 improved to 57% from 51% in the prior year.
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 December 30, 2021, which was €1.00 to $1.13.
2 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.
3 Turnover is the total amount of stakes placed and accepted in betting.
RoW Audiovisual (AV)
- Segment revenue increased in the fourth quarter of 2021 by 52% to €35.6 million compared with the fourth quarter of 2020. This growth was primarily a result of increased volume of streaming services across all major sports.
- Segment Adjusted EBITDA2 in the fourth quarter of 2021 increased by 77% to €9.9 million compared with the fourth quarter of 2020. Segment Adjusted EBITDA margin2 improved to 28% from 24% compared with the fourth quarter of 2020.
- Full year 2021 revenue grew 32% to €140.2 million compared with the prior year of 2020. Full year Adjusted EBITDA2 increased 47% to €39.2 million. Full year 2021 Adjusted EBITDA margin2 improved to 28% from 25% in the prior year.
United States
- Segment revenue in the fourth quarter of 2021 increased by 92% to €23.2 million compared with the fourth quarter of 2020. This growth was driven by our increased sales of U.S. Betting services as the underlying market and turnover3 grew. We also experienced strong adoption of our ad:s product, growth in U.S. Media and a positive impact from the acquisition of Synergy Sports.
- Segment Adjusted EBITDA2 in the fourth quarter of 2021 decreased to (€7.6) million compared with the fourth quarter of 2020 primarily due to increased investment in the Company’s league and team solutions focused business. Segment Adjusted EBITDA margin2 decreased to (33%) from 11% compared with the fourth quarter of 2020 reflecting the aforementioned increased investment.
- Full year 2021 revenue grew 108% to €71.7 million compared with the prior year of 2020. Full year Adjusted EBITDA2 decreased 38% to (€22.6) million. Full year 2021 Adjusted EBITDA margin2 improved to (32%) from (48%) in the prior year.
Costs and Expenses
- Personnel expenses in the fourth quarter of 2021 increased by €12.7 million to €47.0 million compared with the fourth quarter of 2020 primarily resulting from additional hires in the Company’s product and technology organizations (2,959 FTE in the fourth quarter of 2021 vs 2,366 FTE in the fourth quarter of 2020).
- Other Operating expenses in the fourth quarter of 2021 increased by €13.3 million to €27.2 million compared with the fourth quarter of 2020 mainly driven by higher travel and entertainment and marketing costs as pandemic restrictions eased, higher M&A costs as well as increased costs to implement a new enterprise resource planning (ERP) system.
- Total Sport rights costs in the fourth quarter of 2021 increased by €8.8 million to €38.5 million compared with the fourth quarter of 2020, primarily resulting from a normalized schedule in sports such as NBA, NHL and MLB, as COVID-19 pandemic restrictions eased.
2 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.
3 Turnover is the total amount of stakes placed and accepted in betting.
Fourth Quarter Business Highlights
- Sportradar and the NBA announced an expansive multiyear partnership agreement that will see the NBA, Women’s National Basketball Association (WNBA) and NBA G League use Sportradar’s global and wide-ranging capabilities to grow U.S. operations, increase their international footprint and drive fan engagement. This new partnership begins with the 2023-24 NBA season and provides the NBA with an equity stake in Sportradar.
- The Company extended its long-term partnership with Bundesliga International, a subsidiary of DFL Deutsche Fußball Liga, featuring a suite of AI-driven fan engagement tools which enable Genrmany’s top football league to better engage fans.
- Sportradar also extended its partnership with Kambi, a leading global sports betting supplier. The deal reestablishes Sportradar as Kambi’s exclusive supplier of NBA, NHL, MLB, and college sports data in the US market.
- Sportradar announced a new multi-year partnership with PointsBet, a premier global online gambling operator, that establishes Sportradar as PointsBet’s US supplier of choice for MLB, NBA, NHL, college football, and college basketball data.
- Sportradar announced a partnership with UEFA’s as their exclusive authorized collector and distributor of data for betting purposes, as well as extending its role as UEFA’s official integrity partner. The Company secured this landmark agreement following UEFA’s first competitive tender process for its data distribution rights for betting purposes.
- The Company strengthened its existing partnership with ITF with a three-year extension to serve as the ITF’s official data partner.
- Sportradar was selected by the ICC making Sportradar its Official Data Distribution and Official Betting Live Streaming Partner. The partnership will create more opportunities for the ICC to engage with its fan base through Sportradar’s network of 1,000 media and sports-betting clients across 80 countries.
- The Company underlined its commitment to protecting the integrity of sport with the launch of Universal Fraud Detection System (UFDS) free of charge. Sportradar Integrity services has utilized UFDS, to detect suspicious activity in 12 sports across more than 70 countries. Sportradar will begin delivering its UFDS bet monitoring service free of charge, to sports federations, sports leagues, and state authorities around the world, in its continued commitment to protecting the integrity of global sport and making the system accessible to all.
- Sportradar announced significant high-profile hires to further strengthen its US team, including Andrew Bimson as North American Chief Operating Officer, Jim Brown as Head of Integrity Services & Harm Prevention and Rima Hyder as Head of Investor Relations.
Annual Financial Outlook
Sportradar is providing its outlook for fiscal 2022.
- Revenue is expected to be in the range of €665.0 million to €700.0 million ($752.0 million to $791.0 million)1, representing growth of 18% to 25% over fiscal 2021.
- Adjusted EBITDA2 is expected to be in the range of €123.0 million to €133.0 million ($139.0 million to $150.0 million) 1, representing growth of 21% to 30% over fiscal 2021.
- Adjusted EBITDA margin2 is expected to be in the range of 18.5% to 19.0%, an improvement over the prior year.
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 December 30, 2021, which was €1.00 to $1.13.
2 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.
Boyd Gaming
BOYD GAMING TO SELL FANDUEL INTEREST FOR $1.755 BILLION

All-Cash Transaction Unlocks Significant, Unrealized Value for Boyd Shareholders
Boyd, FanDuel Extend Market-Access Agreements through 2038
Boyd Gaming Corporation announced it has entered into a definitive agreement to sell the Company’s 5% equity interest in FanDuel Group to Flutter Entertainment plc for cash consideration of $1.755 billion.
The transaction is expected to close in the third quarter of 2025, subject to regulatory approvals. The Company intends to use net proceeds to reduce debt.
Keith Smith, President and Chief Executive Officer of Boyd, said: “This transaction unlocks the tremendous unrealized value that our investment in FanDuel has created for our Company. As a result, we are in a significantly stronger financial position to continue executing our strategy of investing in our properties, pursuing growth opportunities, returning capital to our shareholders, and maintaining a strong balance sheet.”
In addition to purchasing Boyd’s equity interest in FanDuel, Boyd and FanDuel will terminate certain existing market-access agreements between the parties and enter into new agreements to provide, among other things, for an extended term through 2038. The agreements will also provide Boyd with a fixed fee per state from FanDuel’s mobile sports-betting operations in Iowa, Indiana, Kansas, Louisiana and Pennsylvania, as well as FanDuel’s online casino operations in Pennsylvania, upon the close of this transaction. FanDuel will also continue to operate Boyd’s retail sportsbooks outside of Nevada through mid-2026, after which time Boyd will assume responsibility for these operations.
Under terms of the revised market-access agreements with FanDuel, the Company now expects its Online segment will generate $50 million to $55 million in operating income and Adjusted EBITDAR for the full year 2025, and approximately $30 million in 2026.
Smith added: “The partnership between Boyd and FanDuel has been a remarkable success for both companies. FanDuel has emerged as the nation’s clear leader in online sports-betting, while Boyd has been able to leverage this partnership to profitably participate in the rapid growth of sports betting across the country. It has been a privilege to work with the Flutter and FanDuel teams, and we look forward to supporting FanDuel’s continued growth and success through our market-access agreements across the country.”
Moelis & Company LLC served as exclusive financial advisor to Boyd Gaming on the transaction. Morrison & Foerster LLP served as legal advisor to Boyd Gaming on the transaction, with Brownstein Hyatt Farber Schreck, LLP advising on the commercial agreements.
The post BOYD GAMING TO SELL FANDUEL INTEREST FOR $1.755 BILLION appeared first on Gaming and Gambling Industry in the Americas.
Latest News
Week 28/2025 slot games releases

Here are this weeks latest slots releases compiled by European Gaming
Spinomenal has released its latest title, Queen of Oasis. Set against the rolling ancient Egyptian dunes and lush, palm-lined oases, Queen of Oasis immerses players in an elegant world of riches. Camels, vultures, antelopes, snakes, and the powerful Queen herself bring this 5-reel slot to life. The reels sit within two ornate marble pillars where the bejewelled Queen represents the Wild symbol.
TaDa Gaming has released Golden Bank 2, a sequel to the popular Golden Bank slot. With a 10,000x max win and exciting features, Golden Bank 2 engage players with its immersive gameplay and the potential for substantial payouts. Set in a golden vault, Golden Bank 2 combines the simplicity of classic slots with the thrill of modern mechanics. With vibrant graphics and a dynamic soundtrack, the game immerses players in an exciting, high-stakes atmosphere.
Evoplay has launched Belfry Bliss Hold and Win, a fiery 5×3 slot that blends retro-inspired visuals with a darker twist on the fan-favourite Hold and Win mechanic. Set against a backdrop of flames and ringing bells, the game reintroduces Evoplay’s mischievous Devil character, not as a foe, but as a Wild symbol, lighting the way to potential wins. Classic slot icons like sevens, bars and cherries return, but the real action begins when the bells drop.
Brute Force: Alien Onslaught reunites the original Brute Force members… with a surprise addition. Joshua and Jason have recruited the help of Jade, a fearless mercenary, who doesn’t know defeat. This game joins the ranks of signature Nolimit City slots like Fire In The Hole 3, Highway To Hell and most recently Flight Mode. It’s time to lock and load, once again! Unlike the prequel, Brute Force: Alien Onslaught features a 6 reel setup, wilds and a new baddie, Xylox, who can steal multipliers from Joshua, Jason and Jade.
Push Gaming has returned to the deep blue with Fish ‘n’ Nudge Big Catch, a reimagined follow-up to one of its most beloved recent titles. Building on the charm and success of the originalFish ‘n’ Nudge, Big Catch brings fresh energy to the series with a new take on free spins and added layers of excitement designed to engage both loyal fans and new players.
Play’n GO unveils Rise of Orpheus, a mythical slot that takes players deep into the Underworld in pursuit of love, light, and powerful gameplay features. Following in the footsteps of mythology-inspired favourites like Gates of Troy and Rise of Olympus, Rise of Orpheus brings the tragic tale of Orpheus and Eurydice to life through emotionally charged mechanics and immersive storytelling.
Playson welcomes the return of its mischievous trickster in Super Pink Joker: Hold and Win, who features as a Wild during base play before shapeshifting into a lavish Multiplier for the renowned Hold and Win Bonus. Set in a dazzling pink world full of energy, the release cranks up the heat with dynamic animations and upbeat audio, with the jester taking his place on the enlarged 5×3 grid alongside electrified coins and cartoon-style fruits.
Blueprint Gaming™ reignites the prehistoric fun in its latest major branded IP release, The Flintstones™ Bedrock Riches, led by two lavish bonus games and an intriguing base play trail. The series’ original, The Flintstones™, enjoyed a strong initial uptake in users following its launch in May 2024, with players gravitating towards the familiarity of the brand and series. The renowned slot studio now feels confident the latest offering has built on key features and aims to retain players long term.
ELA Games, a dynamic game development studio, announces the release of John’s Book, its modern take on timeless themes and mechanics. The game invites players to join John the Explorer to hunt for ancient treasures buried in a Pharaoh’s tomb. Rich with iconic symbols and familiar mechanics, John’s Book is a tribute to the well-loved “Book Of…” format that’s prevalent in the industry while adding its twists. With high replayability, easy-to-understand features, and an immersive design, this title appeals to both veteran and casual players.
Players get to dig deeper with every spin as they search for gems and big wins in Wild Gold Mine, the latest slot release for iGaming content provider, ICONIC21. Wild Gold Mine promises a glistening player experience thanks to a cart-load of features, including a unique bonus that makes an appearance for the very first time in an ICONIC21 slot.
“Hellish 7 Hold & Win”, (Höllische 7 Hold & Win in German) is now live, a spicy Classic Series slot from the Berlin-based developer Hölle Games. This is a new summer edition in the Hellish Seven franchise, known for its high volatility, hellishly good payouts, and hard rock riffs. The new entry features Hold & Win, where, if players can fill the reels with (any) cash symbol, they will win the impressive 7777x main prize!
Tom Horn Gaming is kicking off July with Panda Rica, a fast-paced 3×3 video slot that delivers simple yet captivating mechanics and vibrant visuals. From expanding wilds and multiplier wins to Star Gamble Ladder, the game is a standout addition to the supplier’s growing portfolio of slot titles. Designed for quick sessions and high engagement, Panda Rica combines classic slot appeal with clever gameplay that elevates the player experience.
Prepare for an unforgettable summer as Endorphina announces the highly anticipated release of Sticky Lips, its latest captivating slot. This visually striking title invites players into a vibrant world where Endorphina’s Joker makes a remarkable return, blowing irresistible kisses to make their winnings truly stick. She’s wild, she’s wicked – and her lips are ready to stick you with luck! Dare to stare into her eyes in this 5-reel 4-row slot with 50 fixed paylines and prove your worth to get a lucky, juicy kiss. With every spin, her lips glow and tempt, hungry to lock in golden wins.
The post Week 28/2025 slot games releases appeared first on European Gaming Industry News.
gaming industry
Pavilion Payments Partners with Pawnee Nation to Deliver Seamless Casino Funding Solutions Across All Three Properties

Pavilion Payments, the leading omnichannel payment solutions provider in the gaming industry, has announced a partnership with Pawnee Nation, launching a suite of VIP Preferred funding solutions at their three properties: StoneWolf Casino, Trading Post Casino, and TeePee Casino and Smoke Shop.
Through this partnership, Pawnee Nation will leverage Pavilion Payments’ industry-leading VIP Preferred eCheck and Choice4 deferred settlement services at both the cage and VIP Financial Center self-service kiosks. Cash advance will be available at the cage, while the kiosks will offer multi-factor authentication (MFA) and ATM access, providing players with secure, convenient, and flexible funding options. Additionally, Pawnee Nation will implement VIP Shield, Pavilion Payments’ comprehensive Title 31 compliance solution, to enhance security and streamline regulatory compliance.
“We’re proud to partner with Pawnee Nation and support their ongoing commitment to delivering exceptional guest experiences. Our mission is to empower operators with secure, efficient, and forward-thinking payment technologies. We’re honored to support Pawnee Nation as they continue to drive innovation in the gaming space by streamlining transactions, strengthening compliance capabilities, and enhancing player satisfaction,” said Dan Connors, Chief Executive Officer of Pavilion Payments.
“Partnering with Pavilion Payments allows us to offer our players flexible and hassle-free funding options backed by trusted, industry-leading technology. This partnership aligns with our commitment to deliver exceptional guest experiences while supporting operational excellence across all three properties,” said Robert Wallar, CEO of Pawnee Tribal Development Corp.
By deploying Pavilion Payments’ integrated solutions, Pawnee Nation is making it easier for guests to access their funds and enjoy a more seamless and secure experience—while giving casino operators more control, insight, and efficiency in their payments environment.
The post Pavilion Payments Partners with Pawnee Nation to Deliver Seamless Casino Funding Solutions Across All Three Properties appeared first on Gaming and Gambling Industry in the Americas.
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