Super Group submits its annual report on Form 20-F with the SEC

April 27, 2023
By
Leer en Español

The updated report includes two adjustments to its preliminary financial results.

Super Group has filed its annual report on Form 20-F with the US Securities and Exchange Commission (SEC) for 2022. In the company’s previously announced financial results posted March 14, Super Group noted that its results “were subject to change upon completion of the audit of Super Group’s financial statements for the year ended December 31, 2022.”

The group said in an official release that its audited results released in the report include two adjustments to its preliminary report. The first mentioned “the recording of an increase in fair value of €15.1m ($16.6m) in a derivative liability associated with the option agreement to sell the B2B division of Digital Gaming Corporation.”

The company said this “resulted in a reduction in profit before tax of that amount for the three months and year ended December 31, 2022.”

The second adjustment noted a reduction in profit before tax. Super Group said: “In accordance with IFRS 16, Super Group recognized additional lease expense, which reduced profit before tax by €2.1m for each of the three months and year ended December 31, 2022.”

However, the company noted that its revenue, operational EBITDA and cash were not affected by either of the adjustments.

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.

The company recently closed the deal for its previously announced acquisition of online sports betting and iGaming company Digital Gaming Corporation Limited (DGC). Through the completed agreement, Super Group gained access to both online sports betting and gaming markets throughout the US.

DGC operates in eight states throughout the US and has market access in 12 states. Under the terms of the purchase agreement, Super Group will be able to expand its digital footprint across the US.

State-by-State

Product Spotlight

Bragg Gaming Group

Bragg Gaming Group is a global content-driven iGaming technology provider, serving online and land-based gaming operators with its proprietary and exclusive content and cutting-edge technology.
GA HUDDLE #087

John Connelly - Interblock preparing to launch online by the end of year

John Connelly, the Global CEO of Interblock, joins the Huddle to talk about:
- The company's conversion to the online space
- The performance of ETGs
- Interblock's new philanthropic efforts
- The trend of companies going private
- And more!
GA HUDDLE #086

Michael Hershman - Dispelling casino 'myths:' New York needs to lose fear of the unknown

Michael Hershman, CEO of the Soloviev Group, joins Tim Poole on the Huddle to put forward his case that the Freedom Plaza is the way to go for one of New York's casino licences. He fields a variety of questions - not shying away from any of them - on why 'myths' about casinos and a fear of the unknown should be dispelled, as well as acknowledging the strength of rival bids and discussing opposition to the project.

As the Tribal gaming sector congregates once more in the Golden State, is it too cliché of me to suggest we are heading for a golden era of Tribal gaming? With the industry set to meet at the Indian Gaming Association t...

10-11-From-the-top
From The Top: Will youth be served by Sports Betting?
Two recent interviews in our Huddle podcast revealed to Las Vegas correspondent Brian Joseph just how young sports betting entrepreneurs are becoming.
12-GA-MAR-10-year-v2
The Global Gaming Awards: Rewarding Excellence
The 10th edition of the Global Gaming Awards took place in Las Vegas last year. Gaming America looks back... and ahead to this year's.
16-18-IGA-Preview
Preview: Indian Gaming Tradeshow & Convention
Gaming America looks ahead to the 2024 Indian Gaming Tradeshow & Convention and what attendees can expect when they arrive at the Anaheim Convention Centre.
20-22-GA-Mar-888-Holding-article
888 and the US Market: A cautionary tale
Gaming America explores the risk of resting on your laurels and the challenge of remaining relevant in a rapidly expanding market.