Super Group reports $382.2m in revenue for Q3

November 9, 2023
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The CEO said the results reflect another strong quarter for the group.

Super Group has published its Q3 2023 financial report. Company revenue during the quarter rose by 16% to reach $382.2m.

Third-quarter company profit reached nearly $11.4m and included a non-cash charge of $15.2m. Super Group said these results are due to “the change in fair value of option liability.”

Operational EBITDA during the third quarter totaled $57.6m.

Company CEO Neal Menashe said that this quarter’s results were on track with previous successful periods.

He commented: “Super Group has delivered yet another quarter of solid results, having achieved our highest-ever revenue for a third quarter, as well as new all-time highs for both our customer numbers and deposits.

“I remain encouraged by our very strong customer engagement and continued expansion of our global iGaming offering.”

Super Group CFO Alinda van Wyk noted that the company has continued its trajectory toward strategic growth and said this is a trend it hopes to maintain moving forward.

She said, “We continue to focus on investing for future growth and the further realization of cost efficiencies. Despite some headwinds experienced this quarter, while tight, we are reaffirming our guidance, assuming a normalized margin for the remainder of the year."

In other company news, Super Group recently joined the Russell 2000 Index as part of an annual reconstitution process conducted by FTSE Russell. The company ranks 4,000 of the largest US stocks by market capitalization.

Super Group will be automatically added to the Russell 3000 Index as well as a result of making the 2000 Index.

Annual rankings are often used by both institutional investors and investment managers to aid in their financial strategies.

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