Betway owner Super Group expects $1.52bn in 2021 net revenue

Betway’s parent company Super Group has reported revenue growth of 36% to $1.52bn in its full-year 2021 preliminary results.
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Betway’s parent company Super Group has reported revenue growth of 36% to $1.52bn in its full-year 2021 preliminary results.

The group, which is also the parent firm of multi-brand online casino Spin, has provided its expectations for 2022 as well, where it has stated that a steady stream of opportunities will allow it to launch its Betway and Spin products in new markets.

Publishing its full-year 2021 preliminary results, Super Group declared a net gaming revenue (NGR) over $1.52bn, a 36% improvement on the previous year. EBITDA is expected to be greater than $350m. 

The group noted that the NGR and EBITDA performance reflected 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 $350m. 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.”

Betway is now operational in five US states through Digital Gaming Corporation (DGC) and market access has been secured in an additional seven. DGC is expected to become a part of Super Group later this year, subject to regulatory approval.

Focusing on 2022, 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.

Richard Hasson, President & COO of Super Group, added: “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.”

Super Group intends to report full-year 2021 results and hold an earnings call in the first half of April, and then provide a business update to discuss its first quarter 2022 results in May.

Back in January, Super Group began trading on the New York Stock Exchange (NYSE) under the ticker of ‘SGHC’.