The chief executive of the company was named in 2013). The business brought in about 25m each year. It had revenue of 213.3m for 2021.
Maimon oversaw a B2C business which contributed most of the revenue. The company sold off its consumer-facing operations at the end of the year.
NeoGames completed a public offer to take charge of the company after it was acquired by an even larger entity.
This, Maimon says, is the result of a series of carefully considered business decisions that have ultimately taken it to the verge of becoming a leading supplier in the market, one he believes is poised for growth across North America.
It is necessary to build the foundation
It all started with a platform.
If we improved the platform for our partners, we would be able to better serve the B2C segment and scale from there. The platform was strong and we knew that our future success would be within B2B in regulated markets, with the ownership of our own products.
Over the past few years, the desire to take more control of the value chain has seen new acquisitions build out from the platform into a multi vertical solutions provider.
The purchase of casino specialist Pariplay was followed by a deal for sportsbook technology business BtoBet in 2020, and a 25% stake in bingo supplier End 2 End in 2021.
Maimon says that this activity is not opportunistic. He says that they have closely followed the expansion of regulation across the globe and the emergence of new territories. It is more difficult for operators to meet the stricter requirements introduced by many of these.
This heavy burden often falls on the shoulders of operators, but this is where Aspire Global steps in and provides the specific solutions to enable operators to continue being profitable and sustainable.
The sportsbook client base includes a number of high-profile industry names, such as William Hill and ITSP in Germany, and soon BoyleSports in the Netherlands.
The deals act as a stamp of approval for the Neuron 3 platform, which has recently been fully certified for North America, according to Maimon.
Time has been taken to make sure the acquired businesses interact with one another. The BtoBet acquisition of Neuron 3 has now been integrated with the Pariplay Fusion platform. US clients include Rush Street Interactive, BetMGM, Golden Nugget and Caesars Digital.
According to Maimon, the first aggregation platform to offer sportsbook, casino games, live games, virtual sports, esports and bingo, with no additional integration-related work necessary. More than 12,000 titles from over 100 developers are supported by Gamification and Retention tools, if it is only used for the aggregation.
He feels that the supplier is in a unique position for growth due to the addition of bingo games from End 2 End. He says that they own the roadmaps and do not rely on third parties to supply them with specific products. It’s far easier for operators to expand their core offering within regulated markets if we can offer several products under one contract.
The beginning is followed by an end
The B2C operations were sold off by Aspire. The Karamba, Hopa and BetTarget brands were acquired by Esports Technologies in December of 2021. The sale of the B2C assets was the final piece of the puzzle for Maimon.
He says that as a pure B2B business, they knew that this would give them the best chance of continued growth.
He sees the B2C experience as giving the business a competitive edge in the market.
He explains that with over 16 years of experience within the global industry as both an operator and provider, they can deliver top-level insight into the challenges that operators may encounter, as well as supply the best possible solutions that are developed with our customers in mind.
NeoGames has now completed its acquisition of the business and will be able to offer the best possible solutions. When the public offer was announced in January, NeoGames said it would create a leading global provider of interactive content, proprietary technology and operations across all elements of ilottery, online sports betting and igaming.
Maimon sees it as a key step in the growth of the company.
He says that NeoGames will make it easier to get to new and existing jurisdictions in the US and Canada. We expect their contacts and expertise to speed up our expansion plans because the organisation is firmly established within North America.
It means that our offering is now available to the ilottery sector and helps us get closer to providing our products and services to the full circle of the global industry. NeoGames is a leader in the digital lottery space and presents us with significant new opportunities to expand our footprint.
As the lottery sector makes its switch from retail to digital, he argues that it offers enormous potential. Sports betting has grown from state to state, growing to revenue of over $1 billion in the first quarter of the year.
He says that online lottery only represents a small fraction of the market. While other markets are more advanced, they have room to grow, and Maimon is confident that NeoGames customers will increasingly seek solutions that encompass all product categories.
As companies without online expertise seek out experienced partners, this creates further scope for growth.
The NeoGames deal is simply a further acceleration of the growth story of the business.
According to Maimon, the GLI certification will allow the company to deploy its platform, sportsbook and managed services for US and Canadian customers as well.
It shouldn’t be ruled out that there will be further M&A activity. He says that they can never shut the door on bringing in companies they think will help drive their growth. I believe that we can offer our operator partners the most comprehensive, flexible platform solution available on the market, thanks to the assets that we now have in place.
Maimon has no desire to bow out following the acquisition.
He says that they are in a strong position to become established as a leading igaming provider in North America. There are plenty of chapters left in my story at Aspire Global.
Aspire Global CEO Tsachi Maimon has said the company’s decision to sell its consumer-facing business to Esports End in 2021 was a “series of carefully considered business decisions”. “We determined that the platform was strong and understood that our future success would be within B2B in regulated markets, with the ownership of our own products,” he added.