Betway
Super Group Provides FY2021 Preliminary Results and Exceeds Forecast
Super Group, the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, today provided full year 2021 preliminary results and commented on recent business activities.
Super Group generated full year 2021 Net Gaming Revenue (“NGR”) in excess of $1,520 million, representing an increase of ~36% from the prior year period. Full year 2021 EBITDA is expected to be greater than $350 million. This performance in NGR and EBITDA, which both exceed the most recent forecasts, reflects growth and profitability in existing and new markets.
Neal Menashe, CEO of Super Group commented: “We anticipate 2021 EBITDA to exceed our most recent estimate of $350 million. This reflects our team’s ability to execute our global business plan with precision, driving profitability while still attracting customers, entering new territories and expanding our sponsorship portfolio. Occasional industry headwinds, such as a lower-than-expected sports margin in October, along with the closure of select markets, including the Netherlands, were offset by stronger-than-projected new customer acquisition and revenues in multiple markets, for both Betway and Spin.”
Super Group continued the expansion of its global footprint in 2021. The Betway brand is currently live in five U.S. states through Digital Gaming Corporation (“DGC”) and DGC has secured market access in up to an additional seven states. Subject to regulatory approval, it is anticipated that DGC will become a part of Super Group later this year.
Super Group reiterated that it has a steady pipeline of opportunities that would enable it to launch the Betway and Spin brands in additional global markets throughout 2022.
Richard Hasson, President & COO of Super Group said: “Super Group has an expanding, global footprint in a high-growth addressable market. We seek to consistently drive topline growth without sacrificing profitability, and we benefit from decades of experience navigating new and evolving markets. With our public listing complete, we intend to report full year 2021 results and hold our first earnings call in the first half of April. We will then provide a business update to discuss our first quarter 2022 financial results in May.”
Preliminary Financial Results
The financial results included in this press release are preliminary, have not been audited and are subject to change upon completion of Super Group’s audited financial statements for the year ended December 31, 2021, and are presented on a constant currency and pro forma basis to show a like-for-like comparison with forecasts that assume the consolidated group structure as at year-end. Using a constant currency, the 2021 figures have been restated into USD currency using the same exchange rate as that used for preparation of such forecasts.
Management Presents at Needham Growth Conference on January 16 at 8:45 AM ET
Super Group (SGHC) Limited, the parent company of Betway, a leading online sports betting and gaming business and Spin, the multi-brand online casino, today provided comments by management in advance of next week’s conference participation.
Neal Menashe, Chief Executive Officer stated, “We closed the year strong and reiterate our 2023 ex-US financial guidance of revenue of (EUR) 1.35 billion and operational EBITDA of at least (EUR) 240 million. 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. In the US, our net EBITDA investment for the year will be less than the (EUR) 70 million previously communicated. 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.”
Participants may access a live webcast and replay of Super Group’s presentation during the 26th Annual Needham Growth Conference on the Super Group Investor Relations site https://investors.sghc.com/overview/default.aspx.
Greentube, the NOVOMATIC Digital Gaming and Entertainment division, has continued to grow its presence in Ontario by taking its games live with leading operator and long-term partner Betway.
The supplier’s extensive portfolio of content, including classic hits such as Book of Ra Deluxe, Sizzling Hot Deluxe and Lord of the Ocean, will be made available to Canadian players across the province.
A host of contemporary titles will also make their way online. These include Egyptian Underworld, Apollo God of the Sun 10 Win Ways and Book of Ra Deluxe 10 Win Ways, as the supplier continues to deliver popular games featuring first-class features and mechanics.
The integration of content took place through the iForium aggregation platform as Greentube continues to gain greater coverage across the region.
Ontario continues to be a key market for the company since it received its supplier license from the Alcohol and Gaming Commission of Ontario (AGCO) in 2022. This followed multiple launches across Canada in the provinces of British Columbia, Manitoba and Quebec
Jordan Wall, Sales & Key Account Manager at Greentube, said: “Greentube has a fantastic long-standing partnership with Betway and together we have achieved fantastic things in established and emerging markets worldwide. We’re excited for our continued mutual growth across North America.”
Joachim Bjerg, Head of Marketing for Betway in Ontario, said: “It’s great for the Betway brand and Greentube, a leading provider of classic gaming content, to partner up in Ontario. Our market data shows that our customers really enjoy playing fun and innovative casino games, so adding premium content like Greentube’s will continue to help Betway thrive in the province.”
Betway has announced the addition of the National Bank Open presented by Rogers in Toronto to their portfolio of global tennis sponsorships, becoming the Official Betting Partner of the competition.
The 2023 edition of the ATP Masters 1000 tournament takes place between 5 and 13 August at the Sobeys Stadium with the 10,800 capacity Centre Court hosting the final at the tennis complex.
The brand has agreed a multi-year deal where they will have high-profile courtside visibility on the backwall around the Sobeys Stadium complex throughout the eight days of play.
Since 1881, the best players in the world have showcased their skills on Canadian courts, with an impressive list of past champions including legendary names such as Bjorn Borg, Ivan Lendl, John McEnroe, Roger Federer, Rafael Nadal, and Novak Djokovic, who has won the tournament four times.
The newly crowned Wimbledon champion and World Number 1 Carlos Alcaraz is scheduled to play in Toronto for the first time and will play his opening match during the night session of Wednesday 9 August.
Anthony Werkman, CEO of Betway Group, said: “Adding to our enviable portfolio of tennis sponsorships globally, we’re delighted to welcome the National Bank Open to the Betway family.
“This competition is steeped in history and is a firm-favourite for tennis fans, so we’re obviously very excited to be a partner as we continue to be known as the number one betting brand within tennis.”
Rob Swann, Chief Commercial Officer, Tennis Canada, said: “We are delighted to partner with Betway and welcome them to our incredible group of corporate partners.
“We look forward to working closely with them as part of this multi-year agreement as we deliver an exceptional event for our fans.”
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