Online sports betting operator France Pari has announced its B2B division Sportnco’s consolidated EBITDA rose 18 per cent to €1m in the first quarter of 2019, up from €840,000 in the same period last year.
The operator saw its group revenues grow 13 per cent year-on-year from €3.1m in 2018 to €3.5m in the first quarter of 2019.
B2B activities driven by the group’s Sportnco division were the main driver of this growth, with most of the activity taking place across the European regulated markets of Spain, France and Belgium.
France Pari is set to launch bespoke sportsbooks for new clients Sisal in Spain and Zebet in Portugal and the group is “confident’ it can reach EBITDA of between €4.5m and €5m in 2019, up from €3.7m in 2018.
Annual group revenues are also expected to grow in 2019, with a 20 per cent increase from €13m in 2018 to €15.5m this year.
At the end of this year, the company will have reimbursed the biggest part of its debt relating to the Suertia acquisition it carried out in Spain in 2016. The Suertia brand has exceeded expectations and has seen Sportnco bring together GoldenPark, Suertia, Casino Gran Madrid and Casino Barcelona onto its platform.
Hervé Schlosser, founder and CEO of France Pari Group, commented: "I am delighted at the progress we have made this year. Our B2B strategy in France and Spain is reaping rewards and we are now looking at acquiring profitable companies with whom we could develop commercial and financial synergies in order to accelerate our growth in B2B."
