Super Group reports revenues of $1.5bn

Finance News

The Super Group, the holding company that manages sports betting brand Betway and casino brand Spin reported a full-year revenues of $1.53bn.

Net gaming revenue were up a 36% year-on-year from the last full year figures from 2020.

The group also published the first six month figures for 2020, which showed the earnings before (EBIDTA) had increased 87% compared to 2020.

Super Group CEO Neal Menashe said: “Becoming a public company will give us the tools to continue to grow our leading product and technology offering and deliver a strengthened brand-driven marketing strategy.

“This listing will position us strongly to capitalise on the significant global growth opportunities ahead ‒ including in the US market ‒ enabling us to further expand our robust, loyal and engaged customer base.

“In Eric and John, we have found the perfect partners with expertise across sports, entertainment and public markets to help us navigate our next phase of growth,” Menashe added.

Industry insiders also approved of the deal. Regulus Partners analyst Paul Leyland said: “Super Group has a proven multi-market growth model and has recently shifted into very strong cash generation.

“The majority of Super Group’s larger markets are getting more complex, more competitive and could have some legislative stings in the tail.

“The unwinding of Covid-19 policy impacts is also likely to put pressure on some of the operating margin benefits seen recently by a number of operators (additional fixtures, strong sports margins, higher consumer interest, less advertising).

“However, a broad portfolio and strong in-house capability should allow Super Group to weather these issues.

“Perhaps most reassuringly from a resilience perspective, after a swathe of M&A-led or projection-led scale, the latest gambling business to go public is a highly successful organic growth business with a broad revenue base and proven cash generation,” Leyland added.