Net revenue

Betway owner Super Group expects $1.52 billion in net revenue in 2021

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Betway’s head quarter great group announced revenue growth of 36% to $1.52 billion in its preliminary results for the year 2021.

The group, which is also the parent company of the multi-brand online casino twirlalso provided his expectations for 2022, where he said a steady stream of opportunities will allow him to launch his Betway and Spin products in new markets.

In releasing its preliminary results for the year 2021, Super Group reported net gaming revenue (NGR) of over $1.52 billion, a 36% improvement over the previous year. EBITDA should be over $350 million.

The group noted that NGR and EBITDA performance reflected growth and profitability in existing and new markets.

Neal Menashe, CEO of Super Group, said, “We expect 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, drive profitability while attracting customers, entering new territories and expanding our sponsorship portfolio.

“Occasional industry headwinds, such as a lower than expected sports margin in October, as well as the closure of certain markets, including the Netherlands, were offset by new customer acquisition and revenue. stronger than expected in several markets, for Betway and turn.

Betway is now operational in five US states via Digital Game Company (DGC) and market access was guaranteed in seven others. DGC is expected to become part of Super Group later this year, subject to regulatory approval.

Focusing on 2022, Super Group reiterated that it has a stable pipeline of opportunities that would allow it to launch the Betway and Spin brands in other global markets.

Richard Hasson, President and Chief Operating Officer of Super Group, added, “Super Group has a rapidly expanding global footprint in a high-growth addressable market. We seek to constantly drive revenue growth without sacrificing profitability, and we benefit from decades of experience navigating new and evolving markets.

Super Group intends to release its full-year 2021 results and host an earnings call in the first half of April, then provide a business update to discuss its results from first quarter of 2022 in May.

Last January, Super Group began trading on the New York Stock Exchange (NYSE) under the symbol “SGHC”.