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Elbet sees strong growth in H1 2020

Monday, 17 August 2020

At the start of 2020 our Mission was simple, “To increase our partnerships and presence in emerging markets”. Emerging markets offer significant opportunities and have huge potential for growth for virtual sports; with a large player base having a deep and energetic passion for sports. The first half of the year however has been tumultuous period, with a once in a century change to normal work, social behaviours and business patterns. Covid–19 has significantly reduced and even stopped some types of travel, introduced social distancing measures and bought the global sporting calendar to an instant stop. This has created a huge opportunity for the virtual sports sector. H1 2020 has seen Elbet increase both our retail and online partnerships. Our retail revenues declined due to the pandemic; however, the company has seen a 45% increase in online revenues compared to H1 2019. The Online revenues increased as a result of the very hard work put in by our fantastic sales team. The significant increase in partnerships this year is a testament to the high quality of content, our passionate account management service and our simplified and effective ease of integration. We have grown in LATAM, Africa and Asia through partnering with leading operators and aggregators in those markets. Within LATAM, Elbet have gained exclusivity with our local Partner for retail and online services which will help cement our presence within the region. This key development shows the confidence and faith our Partners have in our products and services. Within Africa we have partnered with 12 new operators across 5 different countries, with Elbet’s flagship games, ‘Virtual Football’ and ‘Lucky Colours’ consistently outperforming in these markets. Furthermore the retail market still has huge potential for growth, with our cost effective and flexible retail solutions. Asia continues to be a growth area for us, and we have had very positive feedback from our Partners on both our content and services, and Asia much like Africa has great opportunities for virtual sports for Elbet. So what to expect from us in the second half of the year? We look forward to announcing our new partnerships. Our sales team has worked extremely hard to secure new business and we are looking forward to finalizing all our integrations and quickly going live with our Partners. Our retail business is recovering from the rocky start of the year, and we are thrilled for players to soon be able to play our games in sports cafes, arenas and betting shops again! Overall, a fantastic start to the year given the global circumstances and we look forward to building upon our successes. Shivan Patel Head of Global Sales

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