A legal sports betting data aggregator is expanding into new markets.
Sportradar has agreed to a multiyear partnership to be named the official technology and services provider to Caribbean CAGE — a Latin American and Caribbean gaming company.
As part of the deal, Sportradar will provide its player account management system and sports betting solutions to CAGE Companies to launch an omnichannel sportsbook. CAGE Companies plans to launch sports betting operations in several jurisdictions, including Barbados, Guyana, and Saint Lucia.
"CAGE Sports will deliver a world-class product to the benefit of small businesses throughout the region,” said CAGE Companies CEO Robert B. Washington Jr. “We see sports betting as a big part in the growth of our company. Having Sportradar as our partner creates tremendous value and will assist us in delivering a world-class sports betting experience."
CAGE Companies is looking to establish both an online and retail presence in the Latin American and Caribbean sports betting markets. The partnership will allow CAGE Companies to leverage Sportradar’s existing partnerships, which include deals with the NBA, NHL, and MLB. CAGE Companies’ pact with Sportradar will also provide users with access to cricket betting markets and one of the world’s largest sports competitions — the UEFA Champions League.
Sportradar’s tech will allow CAGE Companies’ users to place both pre-match and live wagers.
Maintaining momentum
Sportradar has secured a deal with CAGE Companies following favorable quarterly results.
In Q3 2023, the company generated $211.8 million in revenue — a 12% increase year-over-year. The increase was attributed to growth across all segments. Sportradar’s U.S. business, which includes sports betting operations, reported $36.9 million in revenue during the quarter, up 11% compared to Q3 2022. The company’s Rest of World segment posted $118.2 million in revenue in Q3 2023 — an 11% uptick year-over-year. The growth was attributed to an increase in sales of live data and live odds. Sportradar expects full-year revenue to range between $915 million and $926 million in FY2023.
