Super Group has released its preliminary 2021 financial report. The company’s net gaming revenue reached more than $1.52bn during 2021, up 36% from the previous year.
Super Group expects last year’s EBITDA to exceed $350m. Both figures were greater than recent forecasts, showing the company’s overall growth.
Neal Menashe, CEO of Super Group, said: “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.”
Super Group is the parent company of Betway, a sports betting and gaming business and of Spin a multi-brand online casino. It is licensed in 25 jurisdictions and is represented in markets throughout Europe, the Americas and Africa. The company also works to provide a safe gambling environment to its clientele.
Betway is live in five states through the Digital Gaming Corporation (DGC), which has gained access to markets in seven additional states. Super Group expects that the DGC will join the company later this year, pending regulatory approval.
Part of the company’s expansion plan for this year also includes launching its Betway and Spin brands in additional markets worldwide.
Richard Hasson, President and 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.”
The company plans to release its 2022 first quarter results at the end of May.
