Super Group posts $365.2m in Q1 2023 revenue

May 24, 2023
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Company executives said the quarter reflects a good start to the year.

Super Group has published its first quarter 2023 financial and business results. The operator reported a gain in overall revenue year-over-year.

During Q1, company revenue reached $365.2m, a 1% increase when compared to the results from the previous year’s first quarter.

Super Group’s operational EBITDA totaled $37.4m in Q1.

Group CEO Neal Menashe described the quarter’s results as “solid” and discussed the remaining year’s trajectory.

He said, “Super Group has delivered another solid quarter and we remain focused on growing revenue and profits. During the month of March, net gaming revenue was a record high, along with the operational EBITDA margin of over 20% and this is a strong reminder of the value of operating leverage in our business.

“We are confident that we will continue to build on another strong quarter across iGaming and sports betting across the world.”

Company CFO Alinda van Wyk commented, “Our results for the quarter demonstrate the benefits of our continued investment in growth. Our balance sheet remains robust and gives us a very strong foundation to continue to scale our business.

“We are always optimizing our costs efficiencies, further enhancing future profitability.”

Super Group also reported its business results for Q1. During the first quarter, the company closed a 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 can expand its digital footprint across the US.

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