Aspire Global will be removed from the Nasdaq Stockholm exchange after its purchase by NeoGames.

The Nasdaq Stockholm has granted permission for the removal of the B2B gaming solutions supplier and has decided that the final day of trading in Aspire shares on the Nasdaq First North Premier Growth Market will be July 4, 2022.

The online lottery platform provider NeoGames initiated a public offer in January to take ownership of all of the shares of Malta-based Aspire for SEK 4.3 billion (£344.1 million/€402.3 million/$423.5 million). Aspire operates in 31 regulated markets across Europe, North America, Latin America and Africa. The agreement was finalized earlier this month.

The combined company will be managed by NeoGames’ current CEO, Moti Malul, who will remain as CEO of the expanded group, with Lavi Adler as CFO.

Aspire CEO, Zachi Maimon, will become president, leading the newly formed iGaming division.

Malul recently spoke about the deal, stating: “We are thrilled to finalize this strategic transaction with the Aspire Global team and to begin identifying potential opportunities to utilize the combined strengths of our platforms.”

This strategic union will generate long-term benefits for investors by uniting the strengths of both entities. This will aid NeoGames in expanding within new and existing markets.

Aspire reported record earnings for the initial period of their fiscal year last month. Earnings for the three-month period ending on March 31, 2022, reached €46.3 million, a 33.4% rise compared to the previous year. This sets a new quarterly record.

Earnings from the Pariplay aggregation and gaming enterprise increased by 38.5% to €9 million. This growth was fueled by 17 new operator agreements signed during the quarter. Earnings from the BtoBet sports wagering business surged by 88.3% to €4.4 million.

Profits before interest, taxes, depreciation, and amortization (EBITDA) rose by 18.8% to €8.2 million. Operating profit, after accounting for €2.7 million in depreciation and amortization, reached €5.6 million, a 14.3% increase from the previous year.

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