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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.
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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.
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SOFTSWISS Introduces Paid Participation Campaigns to Enhance Player Engagement

SOFTSWISS, a global tech company offering software solutions for the iGaming industry, announces the launch of a new feature within its Jackpot Aggregator: Paid Participation Campaigns. This major update is designed to expand entertainment options for players while creating additional revenue opportunities for operators.
The new functionality enables operators to launch Paid Participation Campaigns – a format in which players contribute an entry fee to join jackpots, prize drops, multi-prizes, or the Prime Network Jackpot. In addition to placing regular bets in the participating games, players voluntarily opt into these campaigns, creating a premium experience with a limited number of participants. This structure increases players’ chances of winning, making the experience more dynamic and personalised.
From the operator’s perspective, Paid Participation Campaigns unlock a new revenue stream. The fees collected from players are allocated toward funding the prize pool, reducing the operator’s financial exposure. In addition, operators benefit from long-term partnerships with game providers whose titles are featured in these campaigns, driving mutual engagement and promotion.
Building on the success of the Prime Network Jackpot, which utilised a shared prize pool funded by multiple operators, the new Paid Participation Campaigns introduce a sustainable model where the prize pool is financed directly through player contributions.
“Adding Paid Participation Campaigns expands our Jackpot Aggregator ecosystem with even more flexible engagement tools. Combined with existing mechanics like multi-prizes, drops, and others, operators now have a powerful toolkit to design retention strategies that match their brand goals and player preferences”, – says Angelina Stasiuk, Head of Business Line at SOFTSWISS Jackpot Aggregator.
With this launch, SOFTSWISS reinforces its position as a technology innovator in iGaming, offering operators new ways to create personalised, rewarding, and commercially sustainable player campaigns.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 30,000 casino games, the Affilka Affiliate Platform, the Sportsbook Software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team counts over 2,000 employees.
The post SOFTSWISS Introduces Paid Participation Campaigns to Enhance Player Engagement appeared first on European Gaming Industry News.
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Slots Temple Goes Live with NetGaming to Expand Games Portfolio

Leading online casino operator Slots Temple has added established iGaming developer NetGaming to its ever-growing list of partners. Per the deal, NetGaming’s range of innovative online slot games will now be available for Slots Temple players.
NetGaming is a well-established content provider, best known for its range of Zeus-themed slots and games, which include Zeus’s Thunderbolt 5,000, Zeus’s Thunderbolt Plinko, and Zeus’s Thunderbolt.
Other hit titles in the studio’s catalogue include Shamrock Trio: Hold and Respin, Fireball Inferno Tiki, and Leprechaun’s Loot. The studio’s titles are defined by their creative designs and innovative gameplay mechanics.
NetGaming was launched in 2019 and has proven itself to be a huge hit among players, working alongside some of the biggest operators in the industry and establishing a global presence.
Slots Temple has established itself as a unique operator within the iGaming industry. The company began as an affiliate site before obtaining a license from the United Kingdom Gambling Commission to offer real-money slot games and tournaments.
In the time since, it has established itself as one of the most innovative operators on the market, putting an emphasis on tournaments and player communities. The site collaborates with some of the industry’s leading developers. This new partnership with NetGaming will further solidify its position as a leading player-centric operator, ensuring it provides players with a diverse and exciting games catalogue.
Fraser Linkleter, CEO at Slots Temple said: Our players always demand the best online casino games on the market, and by adding another innovative developer like NetGaming to our list of partners, we can ensure that we meet that demand.
NetGaming is a company that we have respected for a long time, and we have no doubt their products are going to be a huge hit with our players.”
Pallavi Deshmukh, CEO at NetGaming, said: ‘NetGaming is delighted to work alongside an established name like Slots Temple. Both companies strongly believe in the importance of providing top-quality online gaming experiences to customers, and we cannot wait to see how Slot Temple’s dedicated player base reacts to our games.”
The post Slots Temple Goes Live with NetGaming to Expand Games Portfolio appeared first on European Gaming Industry News.
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Nolimit City braces for another invasion in Brute Force: Alien Onslaught

They just can’t leave humans alone, can they? 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. It’s going to be a battle of the ages but who will reign supreme?
A new challenge brings new features. When a Wild Symbol appears, it randomly transforms all low paying symbols on the reels into mid paying symbols, opening up more opportunities to connect. xNudge® makes another appearance similar to Brute Force, but with some small tweaks:
- Joshua xNudge® Wild – Each Nudge increases the win multiplier by +1 with the maximum multiplier value reaching up to 7x
- Jason xNudge® Wild – Each Nudge increases the win multiplier by +2 with the maximum multiplier value reaching up to 15x
- Jade xNudge® Wild – Each Nudge increases the win multiplier by +5 with the maximum multiplier value reaching up to 40x
- Xylox xNudge® Wild – Each Nudge increases the win multiplier by +1 and when he lands for the first time, he collects multiplier values from Joshua, Jason and Jade xNudge® Wilds. If he becomes sticky then he will continue collecting multipliers from non-sticky Joshua, Jason and Jade xNudge® Wilds.
The xNudge® Meter will summarise the overall xNudge® Multiplier values on the winning symbol.
REDemption Spins
No matter how hard you fight they just keep coming! Landing 3 Scatter symbols, including at least 2 red Scatters, will trigger 10 REDemption Spins where:
- Xylox xNudge® Wild will always be sticky when he lands.
- Joshua xNudge® Wild will be missing in action.
BLU Genesis Spins
There is always a glimmer of hope when you fight for good. Landing 3 Scatter symbols, including at least 2 blue Scatters, will trigger 10 BLU Genesis Spins where:
- Joshua, Jason and Jade xNudge® Wilds may become sticky when they land.
- Xylox xNudge® Wild will always be sticky when he lands.
Super REDemption Spins
Xylox has the upper hand with his swarms. Landing 4 Scatter symbols, including at least 3 red Scatters, will trigger 10 Super REDemption Spins where:
- Xylox xNudge® Wild will always be sticky when he lands
- Joshua and Jason xNudge® Wilds will be missing in action.
Super BLU Genesis Spins
Not everything is doom and gloom. Landing 4 Scatter symbols, including at least 3 blue Scatters, will trigger 10 Super BLU Genesis Spins where:
- Joshua, Jason and Jade xNudge® Wilds may become sticky.
- A sticky Joshua xNudge® Wild will always land on the first spins and will remain sticky throughout.
- Xylox xNudge® Wild will always be sticky when it lands.
Stellar Punishment Spins
It’s time to face the final boss himself. Landing 2 red and 2 blue Scatters will trigger 10 Stellar Punishment Spins where:
- Jade xNudge® Wild may become sticky when it lands.
- Jade xNudge® Wild will always land on the first spins and remains sticky throughout.
- Xylox xNudge® Wild will always be sticky when he lands.
- Joshua and Jason xNudge® Wilds are missing in action.
There are a plethora of Nolimit Boosters to keep you in the fight and with the upper hand.
xBoost 1 – Guaranteed Scatter symbol on reel 2
xBoost 2 – Guaranteed 2 Scatter symbols on reel 2 and 3
1 Guaranteed xNudge® xBoost – Guaranteed a minimum of 1 xNudge® Wild
2 Guaranteed xNudge® xBoost – Guaranteed a minimum of 2 xNudge® Wilds
3 Guaranteed xNudge® xBoost – Guaranteed a minimum of 3 xNudge® Wilds
4 Guaranteed xNudge® xBoost – Guaranteed a minimum of 4 xNudge® Wilds
5 Guaranteed xNudge® xBoost – Guaranteed a minimum of 5 xNudge® Wilds
The maximum payout of Brute Force: Alien Onslaught is 80,000x the base bet. Brute Force: Alien Onslaught is rated as “Extremely Volatile” delivering the thrilling high-stakes gameplay that Nolimit City fans know and love.
Per Lindheimer, Head of Product at Nolimit City, said: “There’s nothing we love more than alien invasions. We were blown away by the reception of the first Brute Force so of course, we had to make a sequel. More reels, a new bad guy and Wilds that make this game something to be reckoned with!”‘Brute Force: Alien Onslaught’ will be available to all Nolimit City partners on July 8th, 2025.
The post Nolimit City braces for another invasion in Brute Force: Alien Onslaught appeared first on European Gaming Industry News.
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