Super Group provides 2023 business update

Its CEO said the company experienced significant growth throughout the year.

Super Group (SGHC) has released management comments regarding its business update ahead of a scheduled conference happening next week.

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

Company CEO Neal Menashe said Super Group finished the year in strong fashion and discussed its worldwide growth during 2023.

He commented, “For the year, we set annual records for both deposits and net gaming revenue and during the fourth quarter, we achieved a new record for unique monthly active customers, reflecting consistent customer engagement and our leading position in key markets.

“The growth in Africa continues and has resumed in Canada – this growth has more than offset the impact of regulatory changes in India.”

He went on to note that the company’s net EBITDA investment in the US for the year would be less than the amount Super Group had previously communicated.

Another 2023 company highlight involved the acquisition of online sports betting and iGaming company Digital Gaming Corporation Limited (DGC). Through the closed agreement, Super Group will have access to both US online sports betting and gaming markets.

Menashe discussed the company’s excitement to continue expanding throughout 2024.

He concluded by saying, “We are optimistic about another year of growth in 2024 and we plan to communicate our annual outlook when we announce our fourth quarter 2023 financial results in March.”

Super Group 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.

Carlos Mendez

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