Super Group releases statement on 2023 performance

Neal Menashe, Super Group CEO, reflected on the past year and speculated on the coming one.

Super Group Comments on the Strength of the Business in 2023
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Super Group has commented on its operations from 2023.

The digital gaming company is the holding organisation for several brands, including the online sportsbook Betway and online casino Spin.

In 2023, Betway made a number of international partnerships across different continents and jurisdictions.

The brand partnered with Push Gaming in August for the UK and Mexican markets; with Gaming Corps and BetGames for the African market; and most recently with Gaming Innovation Group (GiG) for Portugal.

Neal Menashe, Super Group CEO, said: “We closed the year strong and reiterate our 2023 ex-US financial guidance of revenue of €1.35bn ($1.48bn) and operational EBITDA of at least €240m.

“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 its most recent Q3 report, Super Group announced that its revenue totalled €356.9m, an increase of 16% when compared year-on-year.

When split down into individual regions, the revenue from Betway increased by 48% in Africa and the Middle East, while Asia-Pacific, Europe and North America all saw an approximate increase of 17%.

Menashe continued: “In the US, our net EBITDA investment for the year will be less than the €70m 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.”

However, Super Group recently pulled out of the Indian market regarding changes to its Indian Goods and Services Tax.

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