SPORTS BETTING
Switzerland – Sportradar up 20 per cent in 2023
By Phil - 21 March 2024
Sportradar Group generated revenue for the full year 2023 of €877.6m, up 20 per cent compared with the prior year, driven by 20 per cent growth from Rest of World Betting and 30 per cent growth from the US.
Total profit from continuing operations for the full year 2023 was €34.6m compared with €10.5m for the prior year. Adjusted EBITDA for the full year of 2023 increased 33 per cent to €166.8m
Carsten Koerl, Chief Executive Officer of Sportradar, said: “2023 was another dynamic and successful year for the Company delivering our 3rd consecutive year of more than 20 per cent revenue growth, improved profitability, and margin expansion. We are pleased with our growth momentum, fueled by our best-in-class content portfolio, innovative product roadmap and technology capabilities. For 2024, we plan to continue to scale our business globally, targeting at least 20 per cent growth in revenue and adjusted EBITDA. Given our market leadership and confidence in the long-term profitability and cashflow outlook for the company, we have authorized a $200m share buyback program. We remain laser focused on disciplined execution of our growth strategy and delivering tremendous value for our clients and our shareholders.”
Revenue in the fourth quarter of 2023 increased 22 per cent to €252.6m compared with the fourth quarter of 2022 with growth across all segments.
Sportradar recently launched a landmark product suite, ATP Service+, as a result of the Company winning the ATP global betting and media data rights. Sportradar and ATP are now working together to drive the commercial growth of tennis and enhance fan engagement.
It entered into agreements with NASCAR, the South American Football Confederation (CONMEBOL) and Bundesliga, Germany’s premiere soccer league, for exclusive global data rights..
It also signed deals with BetMGM and Caesars Sportsbook for official NBA data. For the first time, Sportradar will provide these sportsbooks with products and services that leverage NBA optical tracking data as a result of its exclusive partnership with the NBA. This will enable sportsbooks to grow their proposition markets, same-game parlays, as well as in-play betting markets.
Sportradar was selected by the Taiwan Sports Lottery Company to power its Sports Lottery with a customised omnichannel sportsbook and player management solution. As part of a consortium, Sportradar will operate the Sports Lottery through 2033 using the Company’s ORAKO end-to-end sportsbook and player account management system. Alpha Odds, Sportradar’s automated odds recalculation tool, launched delivering an average profit increase of 10 per cent for clients in 2023. FanID, which connects rights holders and brands with sports fans launched as the first solution in the market with a data clean room to tackle the demise of third-party cookies.
