Betway to depart from the Brazilian market
The online betting and gaming company Betway has announced its plan to depart from the Brazilian market ahead of Brazil's regulated market's debut.When Brazil announced...
Super Group’s iGaming success fuels record earnings
The iGaming division of Super Group played a significant role in enabling the firm to achieve its unprecedented fourth quarter and 2023 earnings.
Menashe stated that the Betway owner far surpassed original projections with a record-breaking profit of €1.4 billion for the whole year.
Super Group also reported record sales for the fourth quarter of €359.9 million, profit before taxes of €16.8 million for the year, and loss before taxes of €44.9 million.
Super Group, according to Menashe, achieved enormous accomplishments last year, with the fourth quarter being espcially good. In spite of initial difficulties, the business generated record-breaking sales, deposits, and client counts, securing its standing as a developing, profitable, and widely dispersed internet sports betting and online gambling provider.
Additionally, he stated that iGaming continues to account for the majority of their revenue, which helps them control the volatility of their sportsbook and achieve industry-leading outcomes. They said they were optimistic about hitting the double–digit top–line growth target set for 2024.
According to Super Group’s chief financial officer, Alinda van Wyk, the firm generated ex-US sales of €352 million and ex-US operating EBITDA of €54 million in the fourth quarter. This led to the company’s highest-ever December margin of 24 percent. She emphasized that in spite of several obstacles, the firm has been able to surpass guidance, and she attributed this to their dedication to cost reduction and wise investments in expansion prospects. She mentioned that the operational EBITDA loss for the US marketplace was less than expected for the year, and the business is presently considering all of its options.
Super Group hits a record in Q3 with €402.9 million
Super Group, a parent company of Betway and Spin, shared its Q3 revenues, highlighting the record of €402.9 million, which is more than 12% when compared to Q3 2023.The...
