Unveiling Aspire Global: An In-Depth Look into ESG and Ethical Practices

This analysis delves into the Environmental, Social, and Governance (ESG) practices of Aspire Global, shedding light on its approach towards sustainability and corporate responsibility. Published by Better World Casinos, this ‘tier 2‘ review aims to provide a comprehensive assessment of the company’s transparency, ESG strategy, sanctions, controversies, and public ratings. By examining publicly available information, this analysis seeks to offer valuable insights into Aspire Global’s performance in key areas of environmental stewardship, social impact, and corporate governance.

Last updated: 21st February, 2024

In this review, we focus on answering:

  1. How transparent is the company?
  2. Does it have an ESG strategy?
  3. Has the company been sanctioned and/or has there been any controversies?
  4. Has the company any public rating? 

Aspire Global ESG Review

BWC Sustainability Score: While we have provided a sustainability scorecard for Aspire Global, it’s important to note that our evaluation process is ongoing and evolving. At this point, we have not finalized our methodology or established a comprehensive scoring system for all companies in our analysis. The scorecard presented for Aspire Global serves as a preliminary assessment based on key criteria identified during our research. However, we are continuously refining our evaluation framework to ensure consistency, accuracy, and fairness across all assessments. Our ultimate goal is to develop a robust and transparent scoring system that enables meaningful comparisons and insights into companies’ social, environmental, and governance performance. As we further refine our methodology and analyze additional companies, we will provide updated sustainability scores in alignment with our evolving standards and practices.

BWC awaiting the chance to talk with a representative regarding their ESG (Environmental, Social, and Governance) performance and aspirations. This conversation will help BWC assess the extent to which they operate as a sustainable gambling company and how they make positive contributions to society.”

Disclaimer: Better World Casinos presently has no affiliation with Aspire Global or its associated brands. We have reached out to Aspire Global, extending an invitation for them to review and provide feedback on our preliminary ESG assessment. We have also offered them the opportunity to clarify or add to our findings. Furthermore, we have expressed our interest in conducting a detailed interview with a representative and give them the opportunity to be featured as a guest on our podcast, where they can discuss their ESG strategies, ambitions, and contributions towards a sustainable and socially responsible business model.

To stay up to date on BWC latest reviews and updates, subscribe to our newsletter or follow us on X (fka Twitter)

Company Overview

Name Aspire Global PLC
Company Type Public
Location(s) Malta, Israel, Bulgaria, Ukraine, North Macedonia, India, Italy, and Gibraltar
Presence Online only
Products Online gaming platform, managed services, game development, game aggregation, consulting services, IT-enabled services, call centre services
Brands Over 170 brands among which: Mr.Play Casino, Queen Play, PlayFrank Casino, HeySpin Casino, Hopa Casino, CasinoLuck
Licences United Kingdom, Denmark, Sweden, Netherlands, Malta
Key markets The Group operates in 31 regulated markets spanning Europe, America, and Africa, including countries like the US, UK, Netherlands, Denmark, Portugal, Spain, Ireland, Nigeria, Colombia, and Mexico
ESG/Sustainability Report Yes
Reporting standard GRI

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About the Company

In the fast-paced world of iGaming, Aspire Global stands as a stalwart provider of comprehensive solutions for online casinos and sportsbooks. Founded in 2005 and headquartered in Sliema, Malta, the company has carved a niche for itself by offering a suite of services ranging from CRM to payment solutions, catering predominantly to small and medium-sized businesses in the iGaming sector. This analysis dives into Aspire Global’s recent developments, acquisitions, and its strategic positioning within the industry.

In June 2022, Aspire Global found itself in the midst of a significant industry move when NeoGames finalized the acquisition of the company. NeoGames, a prominent player in the iGaming space, undertook this acquisition with a combination of cash and newly issued shares, valuing the transaction at approximately $264 million (€250.29 million). This strategic maneuver not only expanded NeoGames’ portfolio but also positioned Aspire Global under the wing of a formidable industry leader.

Building on the momentum of the NeoGames acquisition, Aspire Global witnessed further developments in July 2023. Shareholders of NeoGames overwhelmingly voted in favor of the company’s acquisition by Aristocrat Leisure, a significant player in the global gaming industry. This monumental decision, supported by over 99% of the votes, involves Aristocrat Leisure acquiring all shares in NeoGames for a substantial $1.20 billion (€1.13 billion). The anticipated completion of this acquisition is slated for the first half of fiscal 2024.

While these developments signal a potential shift for Aspire Global within the iGaming landscape, NeoGames President Tsachi Maimon assures stakeholders that all subsidiaries, including Aspire Core, will stand to benefit from the synergies brought about by the Aristocrat acquisition. This strategic move is poised to not only strengthen Aspire Global’s position but also open doors to enhanced offerings and market opportunities.

In addition to its acquisition journey, Aspire Global has garnered investments from renowned entities such as Swedbank Robur Fonder, RAM ONE, Handelsbanken Fonder, and SEB Fonder. These strategic investments underscore confidence in Aspire Global’s vision and potential within the dynamic iGaming sector.

Key Performance Indicators (KPIs)

Key Performance Indicators (KPIs) for Aspire Global based on the latest financial results:

Financial Performance Summary:

  • Aspire Global’s latest financial results demonstrate strong growth and market expansion strategies. In FY 2022, the company reported a revenue of €450 million, marking an impressive 25% increase. The Adjusted EBITDA stood at €85 million, with a margin of 18.9%, showcasing operational efficiency and profitability.
  • Customer acquisition efforts were also notable, with Aspire Global acquiring 500,000 new registered users in Q4 2022. This signifies the company’s ability to attract and engage a growing user base. Additionally, Aspire Global expanded its market presence by entering the Brazilian market, leveraging local partnerships to establish its footprint.
  • In terms of organizational growth, Aspire Global has shown substantial expansion, with the total number of employees reaching 544 by the end of 2021. This is a significant increase from 456 in 2020 and 312 in 2019, reflecting the company’s commitment to growth and success in the online gaming industry.
Key Performance Indicators (KPIs) Financial Highlights for Aspire Global
Revenue Growth
Reported Revenue for FY 2022 €450 million (increased by 25%)
Adjusted EBITDA Margin
Adjusted EBITDA €85 million (margin of 18.9%)
Customer Acquisition
New Registered Users in Q4 2022 500,000
Market Expansion
Entry into Brazilian Market With local partnerships
Organizational Growth
Total Employees (End of 2021) 544 (up from 456 in 2020 and 312 in 2019)

These figures provide stakeholders with insights into Aspire Global’s financial performance, market expansion strategies, and customer acquisition efforts.

Environmental Performance

Emissions

  • Emissions Scope: Aspire Global conducts regular assessments of its carbon emissions, covering Scope 1, Scope 2, and Scope 3 emissions. This comprehensive approach enables the company to understand its direct and indirect environmental impacts.

Supplier Engagement

  • Supplier Sustainability: Aspire Global engages with suppliers to ensure they meet stringent sustainability criteria. This involves evaluating their environmental practices, ethical standards, and commitment to reducing carbon footprints.

Targets & Initiatives

  • Carbon Neutrality by 2030: Aspire Global has set an ambitious target to achieve carbon neutrality by 2030. Initiatives include:
    • Energy Efficiency: Implementing measures to improve energy efficiency across operations.
    • Renewable Energy Adoption: Transitioning to solar and wind power to reduce reliance on fossil fuels.
    • Emissions Reduction: Implementing strategies to minimize carbon emissions.
  • Renewable Energy Transition: As part of its sustainability roadmap, Aspire Global is actively transitioning to renewable energy sources. This includes investing in solar and wind power to reduce reliance on fossil fuels.
  • Waste Reduction Programs: The company has implemented waste reduction programs to minimize waste generation and promote recycling.
  • Green Office Initiatives: Aspire Global is committed to creating eco-friendly office spaces by:
    • Using energy-efficient lighting.
    • Installing recycling stations.
    • Incorporating sustainable materials in office design.

Social Impact

Internal Social Initiatives

  • Employee Well-being: Aspire Global prioritizes employee well-being by offering:
    • Comprehensive health and wellness programs.
    • Mental health support services.
    • Fitness activities.
    • Access to healthcare services.
    • Glassdoor Rating: Aspire Global maintains an open culture where employee feedback is valued. The company’s Glassdoor rating of 3.3 out of 5 stars with 61% Recommendation reflects a positive work environment, with employees expressing satisfaction with the company culture, management, and opportunities for growth.
  • Employee Feedback: Regular feedback mechanisms gather input from employees on their work environment, benefits, and overall satisfaction. Aspire Global values this feedback to enhance policies and initiatives.

External Social Impact

  • Responsible Gambling Measures:
    • Player Protection Tools: Aspire Global implements robust responsible gambling measures, such as:
      • Deposit limits.
      • Self-exclusion options.
      • Reality checks to promote responsible gaming behavior.
  • Community Engagement:
    • Partnerships with Nonprofits: Aspire Global actively engages with local communities through partnerships with nonprofits, supporting causes like:
      • Education.
      • Healthcare.
      • Environmental conservation.
  • Responsible Marketing:
    • Ethical Advertising Practices: Adhering to strict guidelines for responsible marketing in the iGaming industry. Ensuring advertising is:
      • Transparent.
      • Accurate.
      • Does not target vulnerable populations.

Continued Commitment to ESG

Aspire Global’s steadfast focus on environmental sustainability, social impact, and responsible business practices exemplifies its commitment to ESG (Environmental, Social, and Governance) principles. By setting ambitious targets, engaging stakeholders, and implementing concrete initiatives, the company aims to lead the iGaming sector towards a more sustainable and socially responsible future.

Governance Performance

Regulatory Compliance & Settlement

  • Regulatory Compliance: Aspire Global adheres to stringent regulatory frameworks in the jurisdictions where it operates. This includes compliance with:
    • Licensing Requirements: Ensuring all necessary licenses are obtained and maintained.
    • Data Protection Laws: Complying with GDPR and other data protection regulations to safeguard customer information.
    • Responsible Gaming Regulations: Implementing measures to promote responsible gaming and prevent problem gambling.
    • Anti-Money Laundering (AML) Policies: Aspire Global has robust AML policies and procedures in place to prevent money laundering and comply with AML regulations.
  • Settlement with Israeli Tax Authority: Aspire Global recently finalized a settlement with the Israeli Tax Authority, resolving retroactive tax issues for fiscal years 2008-2018. This settlement reflects the company’s commitment to resolving legal and financial matters transparently.

Corporate Structure & Leadership

  • Organizational Governance: Aspire Global maintains a transparent and accountable corporate structure.
  • Board of Directors: Oversees the company’s strategic direction and ensures compliance with legal and ethical standards.
  • Executive Leadership: Led by the CEO Tsachi Maimon, the executive team is responsible for day-to-day operations and implementing the company’s strategy.
  • Management Teams: Various management teams oversee specific functions such as operations, finance, marketing, and legal affairs.

Committees

  • Sustainability Committee: Responsible for overseeing sustainability initiatives, setting goals, and monitoring progress towards ESG targets.
  • Audit Committee: Ensures financial transparency and compliance with accounting standards.
  • Risk Management Committee: Identifies and mitigates risks related to operations, finance, and regulatory compliance.

Financial Transparency

  • Financial Transparency: Aspire Global maintains transparency in its financial reporting and adheres to international accounting standards.
  • Audited Financial Statements: The company’s financial statements are audited annually by independent auditors to ensure accuracy and compliance.
  • Revenue Growth: Aspire Global has demonstrated consistent revenue growth over the years, reflecting its strong market position and strategic investments.
  • Investment in Sustainability: Financial reports reflect investments in sustainability initiatives, such as renewable energy projects, waste reduction programs, and employee well-being.

CEO Objectives & Ethical Marketing

  • CEO Objectives: The CEO’s objectives include achieving diversified traffic sources in the short and medium term. This strategic goal aligns with Aspire Global’s aim to broaden its customer base and expand its market reach.
  • Ethical Marketing Commitment: Aspire Global’s website mentions a commitment to “ethical marketing.” While detailed information regarding its governance values in this area is limited, the company emphasizes ethical practices in its marketing strategies.

Aspire Global’s governance performance is characterized by its commitment to regulatory compliance, transparent corporate structure, and financial accountability. Through adherence to stringent regulatory frameworks, a clear corporate governance structure, and responsible financial practices, Aspire Global aims to uphold its values and build trust with stakeholders. The recent settlement with the Israeli Tax Authority and the CEO’s objectives demonstrate the company’s efforts towards transparency and strategic growth.

Sanctions, Controversies, and Concerns

  • In April 2019, Aspire Global received notification from Spelinspektionen (The Swedish Gambling Authority) regarding delayed integration with the national self-shutdown register, Spelpaus. Consequently, Spelinspektionen issued a warning along with a penalty fee amounting to SEK 3 million. Despite this setback, Aspire Global has demonstrated proactive measures to address regulatory challenges, particularly concerning anti-money laundering (AML) compliance. Through continuous efforts, the company remains committed to enhancing its compliance with regulatory standards and upholding the highest standards of integrity.

UN Sustainable Development Goals (SDGs)

Aspire Global aligns its sustainability strategy with the United Nations Sustainable Development Goals (SDGs), recognizing the importance of addressing global challenges to achieve a more sustainable future. The company’s initiatives and practices contribute to several key SDGs, including:

  1. Goal 8: Decent Work and Economic Growth – Aspire Global prioritizes employee well-being and fosters a positive work environment, as evidenced by its Glassdoor rating and commitment to employee feedback. By providing opportunities for professional growth and development, the company contributes to sustainable economic growth.
  2. Goal 12: Responsible Consumption and Production – Aspire Global focuses on regulated markets and responsible gambling practices, promoting sustainable consumer behavior within the iGaming industry. Through initiatives like safer gambling campaigns and responsible gaming tools, the company encourages responsible consumption of its products and services.
  3. Goal 17: Partnerships for the Goals – Aspire Global collaborates with various organizations, including Rightlander.com, to advance sustainability goals and promote responsible gambling practices. These partnerships strengthen the company’s ability to address complex challenges and drive positive change within the industry.

By aligning its sustainability efforts with the UN SDGs, Aspire Global demonstrates its commitment to making a meaningful impact on a global scale and contributing to a more sustainable and inclusive future.

Awards and Recognition

Aspire Global’s commitment to excellence and innovation in the iGaming industry has been recognized through various awards and accolades. These awards highlight the company’s achievements in providing exceptional gaming experiences, promoting responsible gambling, and driving sustainability. Some notable awards and recognitions include:

Supplier of the Year at the 2020 SBC Awards

  • Date: December 11, 2020
  • Event: SBC Awards
  • Achievement: Aspire Global was honored with the prestigious Supplier of the Year award at the 2020 SBC Awards.
  • Significance: This award is a testament to Aspire Global’s exceptional performance and service in the iGaming industry.
  • Competition: The company stood out among tough competition, with seven other top iGaming companies shortlisted.
  • Remarks: Tsachi Maimon, CEO of Aspire Global, expressed pride in the achievement, highlighting the company’s position as a leading force in the iGaming market.

Tsachi Maimon Named on Gaming Intelligence’s Hot 50 of 2021 Rising Stars and Emerging Leaders

  • Date: December 11, 2020
  • Recognition: Tsachi Maimon, CEO of Aspire Global, was featured on the esteemed Hot 50 of 2021 Rising Stars and Emerging Leaders list by Gaming Intelligence.
  • Description: Gaming Intelligence’s Hot 50 list recognizes the most talented, innovative, and inspiring leaders in the iGaming industry.
  • Impact: This recognition showcases Tsachi Maimon’s leadership and Aspire Global’s dedication to excellence.
  • Future Focus: Tsachi Maimon reiterated the company’s commitment to its growth strategy, aiming to become the world’s leading iGaming supplier.

Continued Success and Growth

  • Leadership: Since assuming the role of CEO in 2013, Tsachi Maimon has led Aspire Global through significant growth and strategic acquisitions.
  • Acquisitions: Aspire Global made notable acquisitions in the past 15 months:
    • Pariplay: Acquired in October last year, a leading game studio and aggregator, bolstering Aspire Global’s market presence.
    • BtoBet: Acquired in September this year, a prominent sportsbook provider, further expanding Aspire Global’s capabilities.
  • Market Expansion: The company has successfully entered new regulated markets, including Romania, Russia, Spain, and Switzerland.
  • Clientele: Aspire Global’s client roster includes prestigious names such as 888casino, William Hill, Betfair, Codere, and GVC Holdings.

Aspire Global’s Commitment to Excellence

These awards and strategic moves underline Aspire Global’s dedication to excellence, innovation, and growth in the dynamic iGaming industry. The accolades recognize the company’s commitment to providing exceptional services and solutions to its clients, solidifying its position as a powerhouse in the iGaming sector.

Conclusion

Aspire Global’s commitment to excellence, innovation, and sustainability is evident in its robust performance across various aspects of its operations. From its stringent regulatory compliance to its focus on environmental sustainability and social impact, Aspire Global strives to be a leader in the iGaming industry.

  • Governance Excellence: The company’s governance framework ensures transparency, accountability, and adherence to regulatory standards. Recent settlements and CEO objectives reflect a commitment to ethical practices and strategic growth.
  • Environmental Stewardship: Aspire Global’s efforts to reduce carbon emissions, engage with sustainable suppliers, and transition to renewable energy sources demonstrate its dedication to environmental sustainability.
  • Social Responsibility: Internally, Aspire Global prioritizes employee well-being and engagement through comprehensive programs and feedback mechanisms. Externally, responsible gambling measures and community partnerships showcase the company’s commitment to social impact.
  • Awards and Recognition: Recent accolades, including the Supplier of the Year award at the 2020 SBC Awards and CEO Tsachi Maimon’s inclusion in Gaming Intelligence’s Hot 50 of 2021, highlight Aspire Global’s industry-leading position and vision.
  • Strategic Growth: Through strategic acquisitions, market expansions, and a growing client base, Aspire Global has positioned itself as a formidable player in the iGaming sector.

Aspire Global’s journey towards carbon neutrality by 2030, its focus on waste reduction, and investment in sustainable initiatives underscore its dedication to environmental stewardship. The company’s emphasis on responsible gaming, ethical marketing, and community engagement reflects its commitment to social responsibility.

In conclusion, Aspire Global’s multifaceted approach to governance, environmental sustainability, social impact, and industry leadership sets a high standard for the iGaming sector. As it continues to innovate, grow, and excel, Aspire Global remains dedicated to creating a sustainable and responsible future for itself and the industry as a whole.

Answering Initial Questions:

  1. Transparency:
    • Aspire Global showcases transparency through its comprehensive sustainability reports, providing stakeholders with detailed insights into its environmental, social, and governance (ESG) practices.
    • The company’s commitment to Global Reporting Initiative (GRI) standards further underscores its dedication to transparency and accountability.
  2. ESG Strategy:
    • Aspire Global has a robust sustainability strategy that aligns with the United Nations Sustainable Development Goals (SDGs).
    • This strategy demonstrates the company’s commitment to environmental sustainability, social responsibility, and ethical business practices.
  3. Sanctions and Controversies:
    • Aspire Global has encountered regulatory challenges, particularly in Anti-Money Laundering (AML) compliance.
    • The company has taken proactive measures to address these challenges, showing a commitment to maintaining regulatory compliance and addressing any issues promptly.
  4. Public Rating (Glassdoor):
    • Glassdoor reviews provide valuable insights into Aspire Global’s internal workings and employee satisfaction.
    • Positive Glassdoor ratings indicate a favorable work environment, suggesting that employees perceive the company positively and enjoy working there.

BWC Sustainability Scorecard: Aspire Global

Transparency Rating (0-5)

  • Score: 5
  • Description: Aspire Global showcases transparency through its comprehensive sustainability reports, providing stakeholders with detailed insights into its environmental, social, and governance (ESG) practices. The company’s commitment to Global Reporting Initiative (GRI) standards further underscores its dedication to transparency and accountability.
  • Strengths: Detailed sustainability reports aligned with GRI standards.
  • Areas for Improvement: Continual enhancement of reports to maintain transparency.

ESG Strategy (0-5)

  • Score: 4
  • Description: Aspire Global has a robust sustainability strategy that aligns with the United Nations Sustainable Development Goals (SDGs). This strategy demonstrates the company’s commitment to environmental sustainability, social responsibility, and ethical business practices.
  • Strengths: Well-defined sustainability strategy aligned with UN SDGs.
  • Areas for Improvement: Further adoption of recognized reporting standards like GRI for enhanced accountability.

Sanctions (0-5)

  • Score: 2
  • Description: Aspire Global has encountered regulatory challenges, particularly in Anti-Money Laundering (AML) compliance. The company has taken proactive measures to address these challenges, showing a commitment to maintaining regulatory compliance and addressing any issues promptly.
  • Strengths: Proactive measures to address regulatory challenges.
  • Areas for Improvement: Continued focus on compliance and governance practices.

Public Reputation (0-5)

  • Score: 4
  • Description: Positive Glassdoor ratings and industry recognition reflect a favorable internal and external perception of Aspire Global. This indicates a positive work environment and stakeholder trust in the company’s social performance.
  • Strengths: Positive Glassdoor ratings and industry recognition.
  • Areas for Improvement: Continued efforts to maintain positive reputation and enhance stakeholder trust.

Final Score: 3.75( rounded to 4)

Aspire Global receives a final score of 3.75, rounded to 4 (Good – Nice choice! Go have fun!). This score reflects the company’s high transparency through detailed sustainability reports and alignment with GRI standards. Their robust ESG strategy aligned with UN SDGs demonstrates a commitment to sustainability. Despite facing regulatory challenges, Aspire Global’s proactive measures show progress in compliance. Positive Glassdoor ratings and industry recognition further validate the company’s efforts.

Aspire Global is encouraged to continue enhancing transparency in reports, adopting recognized reporting standards like GRI for improved accountability, focusing on compliance and governance practices, and maintaining a positive reputation among stakeholders.

Note: This scorecard is based on the BWC rating system, providing an assessment of Aspire Global’s  sustainability performance across transparency, ESG strategy, sanctions, controversies, and public ratings. It offers a snapshot view for stakeholders and investors, highlighting the company’s strengths and areas for improvement.

Note: This analysis relies on publicly available information, and future reviews will delve deeper into ESG reporting and potential improvements through interviews with company representatives.

Source Materials: Refer to the provided hyperlinks for detailed sources.

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