In a market update, Super Group announced that its net gaming revenue for the 12-month period is projected to reach approximately $1.53bn (£1.13bn/€1.35bn), reflecting a 36% year-on-year increase. This growth aligns with the company’s management guidance. Despite a lower trading margin in October and the implementation of new regulatory regimes in Germany and the Netherlands, Super Group attributed its strong performance during the second half of the year to achieve this result. Notably, Super Group experienced robust growth in November and December, with an impressive 45% rise in average monthly active customers compared to the same period in 2020, amounting to over 2.7 million additional customers.
The year-long expansion was bolstered by the successful launch of the Betway and Spin brands in nine new regulated markets. This marked a significant increase from the previous year’s launch in only two new markets. Highlights included the introduction of Betway’s iGaming offerings in the US states of Colorado, Indiana, and Iowa, as well as iGaming and sports betting in Pennsylvania and New Jersey.
Furthermore, Super Group expects its earnings before interest, tax, depreciation, and amortization (EBITDA) for the first half of the year to be 87% higher than in the previous fiscal year, buoyed by the substantial growth experienced in the early part of the year.
Additionally, in line with its strategic plans, Super Group entered into a definitive agreement in April to merge with special purpose acquisition company Sports Entertainment Acquisition Corp (SEAC). The combination will result in Super Group listing its shares on the New York Stock Exchange under the ticker symbol “SGHC” and operating under the name Super Group. Although the deal was expected to conclude by the end of 2021, the company’s shares have yet to debut on the stock exchange.
