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Super Group on track to earn €1.15b in revenue for 2022

After some initial disappointments during the first half of this year, Super Group has reiterated its 2022 guidance.

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The digital gaming operator, which owns both the online casino Spin and the online sports betting and gaming company Betway, shared its financial outlook on Friday.

Super Group stated that it is on track to earn between €1.15bn ($1.14bn) and €1.28b in revenue for 2022. The company expects an EBITDA of between €200m and €215m.

This is the same revenue and earnings guidance that Super Group reported in August of this year. The guidance is lower than the initial guidance of €1.40bn and €345.0m, which Super Group gave when reporting its 2021 results.

Super Group stated that the original drop in expected earnings was the result of economic uncertainty in the first half of 2022.

This new guidance comes after Super Group successfully launched Betway and Spin in Ontario-regulated markets. Super Group also acquired a majority stake in the UK-focused online casino company Jumpman.

The company reports it is currently in talks with sportsbook provider Apricot about Super Group purchasing a copy of Apricot’s sportsbook technology.

“We are taking steps to strengthen Super Group, simplify the capital structure, and better position the Company for growth,” stated Super Group CEO Neal Menashe.

“In relation to discussions regarding our sportsbook, we are exploring with our long-term partner the potential benefits of ownership of the technology.”

Super Group’s 3Q 2022 Earnings Call is scheduled for November 22.

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