Super Group, the holding company behind the Betway betting and casino brand, shared financial data ahead of listing on the NYSE that shows it is on track for its revenue forecast of $1.5 billion by the close of the year.
Fans of online betting and casino games will be familiar with the Betway brand due to their explosive growth in the space. Founded in 2006 Betway is an instantly recognisable brand boasting sponsorship and partnership deals with the Grand National Festival at Aintree, the Ninjas in Pyjamas esports team, and Premier League football club West Ham United to name but a few.
A name you may not recognise however is Super Group. Super Group is the holding company behind Betway, and it comprises both the Betway brand and Spin, a multi-brand online casino network.
Movers and Shakers
In addition to Super Groups, ongoing expansion across continental Europe and beyond April saw them enter into an agreement with special purpose acquisition business Sports Entertainment Acquisition Corp (SEAC) which will see them stepping into the regulated US online gambling market as an NYSE-listed company.
Neal Menashe, CEO of Super Group, said:
“We have established our group as a truly global, scaled and profitable digital gaming business, delivering on our vision to bring first-class entertainment to the worldwide betting and gaming community. Becoming a public company will give us the tools to continue to grow our leading product and technology offering and deliver a strengthened brand-driven marketing strategy.”
Since that decision Super Group has gone on to secure a multi-year partnership with the National Hockey League (NHL), struck a deal with the Miami Open and launched the Betway brand in Colorado and Indiana through an agreement with Digital Gaming Corporation (DGC). Super Group will be looking to acquire DGC should the acquisition receive regulatory approval which will give them access to a further 7 US states.
Shake Your Money Maker
In preparation for the public listing on the NYSE Menashe commented on the group’s first half of 2021 financials and their track for the balance of the year saying:
“We continue to make progress as we pursue completing our public listing on the NYSE in the fourth quarter of this year. Our first half 2021 estimated Net Gaming Revenue is $762.6 million, and our estimated EBITDA for the same period is well within management’s expectations, putting us on track to meet our full-year 2021 financial outlook.”
Super Group is well on their way to achieving its stated goal of generating “$1.5 billion in Net Gaming Revenue and over $350 million in EBITDA” by the end of the year.
The reality is that with the growth potential of the US market seeing Betway go live in Pennsylvania, New Jersey, Colorado, Indiana, Iowa, and several other states could boost them well past the $1.5 billion estimations before we ring in 2022.
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