Betway
Super Group Provides FY2021 Preliminary Results and Exceeds Forecast
Super Group, the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, today provided full year 2021 preliminary results and commented on recent business activities.
Super Group generated full year 2021 Net Gaming Revenue (“NGR”) in excess of $1,520 million, representing an increase of ~36% from the prior year period. Full year 2021 EBITDA is expected to be greater than $350 million. This performance in NGR and EBITDA, which both exceed the most recent forecasts, reflects growth and profitability in existing and new markets.
Neal Menashe, CEO of Super Group commented: “We anticipate 2021 EBITDA to exceed our most recent estimate of $350 million. This reflects our team’s ability to execute our global business plan with precision, driving profitability while still attracting customers, entering new territories and expanding our sponsorship portfolio. Occasional industry headwinds, such as a lower-than-expected sports margin in October, along with the closure of select markets, including the Netherlands, were offset by stronger-than-projected new customer acquisition and revenues in multiple markets, for both Betway and Spin.”
Super Group continued the expansion of its global footprint in 2021. The Betway brand is currently live in five U.S. states through Digital Gaming Corporation (“DGC”) and DGC has secured market access in up to an additional seven states. Subject to regulatory approval, it is anticipated that DGC will become a part of Super Group later this year.
Super Group reiterated that it has a steady pipeline of opportunities that would enable it to launch the Betway and Spin brands in additional global markets throughout 2022.
Richard Hasson, President & COO of Super Group said: “Super Group has an expanding, global footprint in a high-growth addressable market. We seek to consistently drive topline growth without sacrificing profitability, and we benefit from decades of experience navigating new and evolving markets. With our public listing complete, we intend to report full year 2021 results and hold our first earnings call in the first half of April. We will then provide a business update to discuss our first quarter 2022 financial results in May.”
Preliminary Financial Results
The financial results included in this press release are preliminary, have not been audited and are subject to change upon completion of Super Group’s audited financial statements for the year ended December 31, 2021, and are presented on a constant currency and pro forma basis to show a like-for-like comparison with forecasts that assume the consolidated group structure as at year-end. Using a constant currency, the 2021 figures have been restated into USD currency using the same exchange rate as that used for preparation of such forecasts.
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