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March 14, 2023 Online, Land Based, Finance, Results

Super Group posts $1.38bn in revenue for 2022

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Executives believe the company is off to a good start for 2023.

Super Group has released its fourth quarter and year-end 2022 financial results for the period ending December 31, 2022.

For Q4, company revenue reached $352.8m, a near-$40m boost when compared to results from the third quarter. Profit before taxes climbed to $41.1m during Q4.

Super Group’s EBITDA totaled $62.1m for the fourth quarter.

Revenue for the entire year climbed to over a billion dollars. The company reported total revenue of $1.38bn for 2022. Its profit for the full year before taxes totaled nearly $251m.

Company EBITDA in 2022 reached $319.9m, while Super Group ended the year with an unrestricted cash total of almost $274m.

Super Group CEO Neal Menashe commented: “Super Group is a leading global pure-play sports betting and online casino company seeking to continually optimize and grow our global footprint, including in the US.

“We continue to efficiently invest in our brand, enhance our technology platform and benefit from our consistent cash generation. We feel we are well positioned to apply our well-tested strategies to the US markets and capitalize on what we see as a multi-year investment opportunity.”

Group CFO Alinda van Wyk said: “Super Group remains financially strong, and we continue to run our business profitably while investing in technology and marketing to support future growth.

“We remain focused on operating more efficiently in 2023 in order to improve scale and our operating margins going forward.”

Super Group is the parent company of Betway, a sports betting and gaming business, and of Spin, a multi-brand online casino.

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