The sports betting and account management firm, Sportnco, has declared that its revenue and earnings surged in 2020. This expansion was observed across the United States, Latin America, and Europe.
Sportnco’s revenue for 2020 amounted to 19 million euros, equivalent to approximately 16 million pounds or 23 million dollars. This represents a 35.7% rise compared to the previous year, when their earnings stood at 14 million euros.
Sportnco emphasized that while they generate income from both corporate and individual clients, their business-to-business segment experienced more significant growth.
Revenue from individual customers climbed by 89% to 10 million euros, whereas revenue from businesses saw a more modest increase of 3% to 9 million euros.
Sportnco also attributed the rise in their earnings in 2020 to the acquisition of Tecnalis, a Spanish company specializing in online gambling platforms.
In addition to increased revenue, Sportnco reported a 68% surge in earnings before taxes and other expenses, from 3.7 million euros to 6.1 million euros. Their profit after taxes also experienced a 50% increase, reaching 1.8 million euros.
By the end of 2020, Sportnco was supporting 36 companies offering real-money gambling services in 13 different countries across Europe, Latin America, and the United States.
Sportnco’s chief executive, Hervé Schlosser, stated, “The past year has demonstrated the strength and resilience of Sportnco.”
Sportnco has demonstrated its resilience during the recent health crisis and continues to expand its reach by acquiring Tecnalis and their impressive Alira player account management system.
The global sports betting and gaming industry is experiencing increased regulation, and Sportnco is well-positioned to capitalize on this trend in the years to come.
Earlier this year, Sportnco made its entry into the US iGaming market by introducing a complimentary sports betting application for SuperDraft, a leading daily fantasy sports provider.
SuperDraft holds the distinction of being the official fantasy sports platform of Caesars Entertainment, which made a strategic investment in the company earlier this year.
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