August 20, 2021 Sports Betting, Legal, Partnerships

Betway parent company, Super Group, comments on 2021 financial results

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The period saw the company enter an agreement with Sports Entertainment Acquisition to bring sports betting to United States markets.

Super Group, the parent company of the international sports betting operator Betway, has today commented on the organizations preliminary H1 2021 financial results, while also reaffirming the group’s predictions for the rest of the year.

Speaking on the company’s financial results, 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 $762.6m, 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.

“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.”

The first half of 2021 saw Super Group sign a number of strategic business partnerships in order to continue its growth throughout the US. The company entered into an agreement to acquire Digital Gaming Corporation (DGC).  DGC has the exclusive right to use the Betway brand in the US and has secured market access for online sports betting and gaming in up to 10 states including Pennsylvania, New Jersey, Colorado, Indiana and Iowa.

The period also saw the Betway parent company agree a deal with Sports Entertainment Acquisition Corp., a publicly traded SPAC. For the agreement, Super Group provided a full-year 2021 financial outlook of $1.5bn in net gaming revenue and over $350m in EBITDA.

Super Group is currently licensed in 23 jurisdictions throughout Europe, North and South America and Africa.

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