Super Group Posts Strong Second Quarter of 2023 Results

The leading gaming and entertainment company, which is also the parent of the famous iGaming and sports betting operator, Betway, Super Group, released its consolidated financial results for the second quarter of 2023. The new financial report released Thursday revealed details regarding the company’s performance for the three months ended June 30, 2023.

The recent unaudited figures reveal that Super Group’s revenue in Q2 of this year hit €380.8 million ($414 million). This result, compared to the €320.8 million ($348.8 million) figure from the same period last year, marked an increase of 19%.

Judging by the latest financial update, the growth of revenue was primarily driven by the strong performance of the company’s European, African and Middle East operations. That growth, Super Group said, was able to “partially offset” the decrease for North America, from the changes to the regulating environment in Ontario, Canada, as well as Asia-Pacific operations.

Not unexpectedly, operational EBITDA for the second quarter of this year increased as well. Overall, operational EBITDA for the latest trading period hit €70.0 million ($76.1 million), marking an increase compared to the €53.6 million ($58.3 million) figure reported for the corresponding period in 2022. Still, Super Group outlined that the “measure for the second quarter 2023 was comprised of €82.6 million ex-US and a loss of €12.6 million in the US.”

Super Group’s new trading update revealed a significant increase in the monthly active customers. The company’s Q2 2023 results confirm that monthly active customers increased by 40% to 3.7 million. This marked an increase of 1 million when compared to the 2.7 million active monthly customers reported for the corresponding period last year.

The Company Is Positioned Well for Further Growth and Expansion

Alinda van Wyk, Super Group’s CFO, highlighted that the recent results point to a strong operational EBITDA. She spoke about the increasing number of monthly active customers that the company saw in Q2 this year. According to Super Group’s CFO, by scaling up operations in different markets and implementing cost efficiencies, the company can continue growing in the long term. “With regards to the US, the business is tracking in line with expectations and we are confident in our strategy,” said Wyk in conclusion.

“Super Group has delivered financial results that reflect our ongoing focus on both an optimized global footprint and investment in long-term growth.“

Neal Menashe, CEO of Super Group

Neal Menashe, Super Group’s CEO, added that the company continues to deliver strong results thanks to optimization efforts and investment in long-term objectives. “This quarter’s strong revenue performance has delivered enhanced economies of scale in multiple markets, resulting in significant year-over-year growth in Operational EBITDA, ex-US,” he added. Finally, Menashe predicted further success for Super Group and the expansion of the company within the iGaming and betting sector.