Sportnco announces 37% revenue increase for 2020

Sportnco has recorded an 89% increase in annual B2B revenues to €10m ($12.12m) for 2020, with consumer-facing revenues rising 3% to €9m.

Publishing its annual figures, the sports betting solutions and player account management specialist announced a 50% increase in post-tax net profits to €1.8m. EBITDA meanwhile rose by 68% to €6.1m.

The group also highlighted its acquisition of Tecnalis, provider of player account management solutions to the global iGaming industry, with that acquisition helping Sportnco’s revenues climb 37% in 2020 to €19m.

Sportnco manages 36 real money gaming clients across 13 regulated markets in Europe, Latin America and the US, with the company confirming that it “will be focusing its business development priorities on those three regions.”

“The past 12 months have demonstrated the strength of the Sportnco group,” said Sportnco CEO Hervé Schlosser (pictured). “As a business we were Covid resilient and provided further proof of our ability to accelerate growth through M&A operations with the acquisition of Tecnalis and its award-winning Alira player account management platform this year.

“Regulation of sports betting and gaming markets continues to spread worldwide and we are extremely excited by the opportunities that Sportnco will have to benefit from these developments in the coming months and years.”

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