NeoGames Q2 revenues for the year rise 46.4% to $31.3 million
NeoGames, the provider of end-to-end iLottery and iGaming solutions, has announced its results for the last quarter. The revenues for the company were up to $31.3 million in Q2 from $21.4 million in the same period in 2021, which equates to a rise of 46.4%.
The Adjusted EBITDA was up from $8.3 million in 2021 to $10.3 million for the same quarter, Q2 in 2022, a rise of 24% in a year-on-year comparison.
As part of the deal to acquire Aspire Global, NeoGames bought 99% of outstanding shares in the company and hope to complete the purchase in Q3 of this year. The acquisition helped to increase revenues for the quarter, however, the cost of buying Aspire was $14.2 million, and this translated to a Net Loss of $12.9 million in Q2 reported in the results.
There have been numerous tie-ups with partners for NeoGames so far this year, including several deals with Pariplay to provide content aggregation and games.
During the quarter, we were excited to complete our tender offer for the shares of Aspire Global plc (“Aspire Global”), a truly transformative transaction that positions us as a leading global provider in technology and content across iLottery, Online Sports Betting and iGaming. Strategically, we are already realizing benefits from the combination. […] Leading up to the combination we had strong standalone second quarter results across both the NeoGames and Aspire Global portfolios. Our reported revenues plus our NPI interest were up 46.4% from the same quarter last year.