Super Group's FY21 preliminary results above forecasts due to stronger customer acquisition and revenues

Super Group (SGHC), the parent company of Betway and Spin, on Wednesday provided full-year 2021 preliminary results, with net gaming revenue in excess of $1,520 million, representing an increase of nearly 36% from the prior-year period.

Full-year 2021 EBITDA is expected to be above $350 million. The company said this performance in NGR and EBITDA both exceed the most recent forecasts, reflecting growth and profitability in existing and new markets. Super Group has debuted as a public firm on the New York Stock Exchange in late January.

Neal Menashe, CEO of Super Group, commented on the business update: “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), which 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.”