Super Group’s iGaming success fuels record earnings

Super Group’s iGaming success fuels record earnings

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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 doubledigit topline growth target set for 2024.

According to Super Group’s chief financial officerAlinda 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.

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