Super Group delivers first half performance
Super Group, the parent company of global online sports betting and gaming businesses operating Betway, today commented on preliminary 1H21 financials and reiterated its full-year 2021 financial outlook. The Company also commented on the expected timing of filing their preliminary proxy on Form F-4.
Neal Menashe, CEO of Super Group, commented, “We continue to make progress as we pursue completing our public listing on the NYSE in the fourth quarter of this year. Our first half 2021 estimated Net Gaming Revenue is $762.6 million, and our estimated EBITDA for the same period is well within management’s expectations, putting us on track to meet our full-year 2021 financial outlook.”
Menashe continued, “We plan to submit our registration statement on Form F-4 filing by the end of August, and then update investors with additional financial details once we have completed our comprehensive financial review of the first half of 2021.”
On April 25, 2021, Super Group entered into a definitive agreement with Sports Entertainment Acquisition Corp, a publicly traded special purpose acquisition company, to bring its leading global online sports betting and gaming group to the U.S. public markets. At that time, Super Group provided a full-year 2021 financial outlook of $1.5 billion in Net Gaming Revenue and over $350 million in EBITDA. Based on management’s view of the business today, they remain comfortable with these full-year 2021 financial projections.
Targeting the fast-growing U.S. market, Super Group has entered into an agreement to acquire Digital Gaming Corporation, subject to obtaining customary regulatory approvals. DGC has the exclusive right to use the Betway brand in the U.S. and has secured market access for online sports betting and gaming in up to an initial 10 U.S. states including Pennsylvania, New Jersey, Colorado, Indiana and Iowa. DGC’s first bet in the U.S. was taken in March 2021.