Sportradar, a global leader in sports data and content, has enlisted the expertise of Jim Bombassei, former CFO of SciPlay, as it focuses on cementing its relationships with the investment community and steering its corporate finance affairs. Bombassei, now based in New York, is set to take on this critical finance executive role, reporting directly to Sportradar’s CFO, Gerard Griffin.
Bombassei’s appointment arrives at a significant juncture for Sportradar, following the release of its third-quarter financial results which presented a complex picture of robust revenue growth overshadowed by a notable downturn in operating profit. Striking an optimistic note, Sportradar CEO Carsten Koerl highlighted the company’s confidence in sustaining growth throughout the fiscal year, despite the reported 63.8% decrease in operating profit.
Even with this apparent profit challenge, Sportradar’s revenue narratives tell a story of expansion and opportunity. With a 12.4% surge in overall revenue from continuing operations, totaling €201.0m for the quarter, the company celebrates victories across all segments. Notably, the Rest of World (RoW) Betting AV segment experienced a revenue increase of 15.0%, leading to a total of €38.0m, underlining the company’s growing international footprint.
The RoW Betting revenue was no less impressive, reporting an 11.1% rise to reach €112.1m, while gains in the U.S. market mirrored these figures with an equivalent 11.1% uptick, equating to €35.0m in revenue. Other segments also saw incremental growth, with revenue slightly increasing to €15.7m. Such a performance indicates Sportradar’s resilience and adaptability in the dynamic and competitive sports betting landscape.
Jim Bombassei is expected to be an instrumental figure in steering the Sportradar ship through these complex financial tides. Griffin, the current CFO of Sportradar, applauded Bombassei’s arrival, recognizing his prolific background and noting his potential impact: “We are pleased to welcome Jim to the Sportradar team. He is a talented and respected finance executive, with a wealth of investor relations experience and a track record of success. Jim will be a great asset as we continue to communicate our vision and strategy to the market and our investor community.”
Bombassei joins Sportradar with a well-established resume. Just over a year ago, he ascended to the role of CFO at SciPlay in October 2022, indicating his acquaintance with high-stakes financial management in the gaming industry. His time as senior vice president of investor relations at Light and Wonder further solidified his expertise in the gambling sector. However, Bombassei’s roots in finance and corporate communications run far deeper.
Before his foray into the gambling space, Bombassei honed his craft over an impressive 27-year tenure at mass media conglomerate Viacom. His pivotal roles included senior vice president of investor relations and treasurer, as well as senior vice president of investor relations—a testament to his depth of experience in nurturing stakeholder relations and managing strategic financial operations.
In addition to his corporate tenures, Bombassei also brought his expertise to consultancy, aiding the media and entertainment group at Ernst & Young’s audit practice. His broad spectrum of experience positions him as a visionary capable of guiding Sportradar’s financial narrative and ensuring transparency and clarity in its investor communications.
Bombassei’s arrival at Sportradar marks not just a transition in his own career but also a significant step for the company as it navigates the competitive world of sports data and betting markets. With the third quarter’s mixed financial results as a backdrop, Sportradar looks set to leverage Bombassei’s strategic acumen to solidify investor trust and propel the company towards future growth. As the global investment community watches closely, Sportradar continues to play an influential role in shaping the landscape of sports data and analytics, all while operating at the intersection of sports and technology.
