Sportradar, a legal sports betting data aggregator, has announced a multi-year partnership with Caribbean CAGE, a Latin American and Caribbean gaming company. As part of the agreement, Sportradar will become the official technology and services provider to CAGE Companies.
The partnership will see Sportradar providing its player account management system and sports betting solutions to CAGE Companies as they prepare to launch an omnichannel sportsbook. This expansion will include the establishment of sports betting operations in several jurisdictions, including Barbados, Guyana, and Saint Lucia.
Robert B. Washington Jr., CEO of CAGE Companies, expressed his optimism about the collaboration, stating, “CAGE Sports will deliver a world-class product to the benefit of small businesses throughout the region. 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.”
Furthermore, CAGE Companies aims to establish a strong online and retail presence in the Latin American and Caribbean sports betting markets, leveraging Sportradar’s existing partnerships with major sports leagues such as the NBA, NHL, and MLB. Additionally, the partnership will offer users access to cricket betting markets and the UEFA Champions League.
Sportradar’s technology will enable CAGE Companies’ users to place both pre-match and live wagers, further enhancing the sports betting experience.
The announcement of the partnership with CAGE Companies comes on the heels of a successful quarter for Sportradar, with the company reporting a 12% year-over-year increase in revenue, totaling $211.8 million in Q3 2023. The growth was attributed to robust performance across all segments, including the U.S. business and the Rest of World segment. Sportradar expects its full-year revenue to range between $915 million and $926 million for FY2023.
Overall, the partnership between Sportradar and CAGE Companies signifies a significant expansion into new markets and paves the way for an enhanced sports betting experience for users in the Latin American and Caribbean regions.