Sportradar has announced the appointment of Jim Bombassei as its new senior vice president of investor relations and corporate finance. Bombassei, who previously served as the chief financial officer of SciPlay, will be based in New York and will report directly to Sportradar CFO Gerard Griffin. In his new role, he will be responsible for managing relationships with the global investment community and overseeing corporate finance.
Bombassei joins Sportradar after a year as CFO at SciPlay, a role he took on in October 2022. Before that, he served as the senior vice president of investor relations at Light and Wonder. Prior to entering the gambling industry, Bombassei spent over 27 years at mass media company Viacom, holding various senior positions in investor relations and treasury.
In addition, Bombassei has experience as a consultant for the media and entertainment group at Ernst & Young’s audit practice. According to Griffin, Bombassei is a talented and respected finance executive with a wealth of investor relations experience and a track record of success. Griffin believes that Bombassei will be a valuable asset as Sportradar continues to communicate its vision and strategy to the market and investor community.
The announcement of Bombassei’s appointment comes after Sportradar disclosed its Q3 results, which revealed a 63.8% decrease in operating profit. Despite this, overall revenue from ongoing operations increased by 12.4% to €201.0m in Q3. Sportradar experienced growth across all segments, particularly in its Rest of World Betting AV segment, where revenue grew by 15.0% to €38.0m.
Revenue from the Rest of World Betting segment brought in €112.1m, an 11.1% increase, while US revenue also saw an 11.1% increase to €35.0m. Revenue from all other segments rose to €15.7m. Sportradar CEO Carsten Koerl expressed optimism about the Q3 results, indicating that they suggest the company will deliver growth for the full year.