Super Group Posts Strong Q2 2023 Results
Date: 2023-08-18 Author: Kirill Zagoruyko Categories: CASINO
Leading gaming and entertainment company, which is also the parent company of well-known iGaming and sports betting operator Betway, Super Group, has released its second quarter 2023 consolidated financial results. The new financial report, released on Thursday, reveals details about the company's performance. for the three months ended 30 June 2023 .
The latest unaudited data shows Super Group's second-quarter revenue of this year reached 380.8 million euros ($414 million). This result, compared with a figure of 320.8 million euros (348.8 million US dollars) for the same period last year, represents an increase of 19%.
According to the latest financial report, revenue growth was mainly driven by the company's strong performance in Europe, Africa and the Middle East. This growth, according to the Super Group, was able to "partly offset" the decline for North America due to changes in the regulatory environment in Ontario, Canada, as well as operations in the Asia-Pacific region.
Not surprisingly, operating EBITDA also increased in the second quarter of this year. Overall, operating EBITDA for the latest trading period reached €70.0 million ($76.1 million), up from €53.6 million ($58.3 million) reported for the corresponding period in 2022 . Q2 2023 consisted of €82.6 million outside the US and a loss of €12.6 million in the US.”
The new trading update of Super Group revealed a significant increase in the number of active clients per month. The company's results for the second quarter of 2023 confirm that the number of active customers per month increased by 40% to 3.7 million people. This represents an increase of 1 million compared to the 2.7 million active monthly customers registered in the corresponding period last year.
The company is well positioned for further growth and expansion
Alinda van Wyck, CFO of Super Group, stressed that recent results point to strong operating EBITDA. She talked about the increase in monthly active customers that the company saw in the second quarter of this year. By expanding operations in various markets and improving cost efficiencies, the company can continue to grow in the long term, according to Super Group's CFO. “In the US, business is in line with expectations and we are confident in our strategy,” Vick concluded.
"Super Group delivered financial results that reflect our continued focus on both optimizing our global footprint and investing in long-term growth." Neil Menashe, Super Group CEO
Neil Menashe, CEO of Super Group, added that the company continues to perform well thanks to optimization efforts and investments in long-term goals. “Strong revenue performance this quarter delivered enhanced economies of scale in several markets, resulting in strong year-on-year growth in operating EBITDA excluding the US,” he added. Finally, Menashe predicted the continued success of the Super Group and the company's expansion into iGaming and betting.
The latest unaudited data shows Super Group's second-quarter revenue of this year reached 380.8 million euros ($414 million). This result, compared with a figure of 320.8 million euros (348.8 million US dollars) for the same period last year, represents an increase of 19%.
According to the latest financial report, revenue growth was mainly driven by the company's strong performance in Europe, Africa and the Middle East. This growth, according to the Super Group, was able to "partly offset" the decline for North America due to changes in the regulatory environment in Ontario, Canada, as well as operations in the Asia-Pacific region.
Not surprisingly, operating EBITDA also increased in the second quarter of this year. Overall, operating EBITDA for the latest trading period reached €70.0 million ($76.1 million), up from €53.6 million ($58.3 million) reported for the corresponding period in 2022 . Q2 2023 consisted of €82.6 million outside the US and a loss of €12.6 million in the US.”
The new trading update of Super Group revealed a significant increase in the number of active clients per month. The company's results for the second quarter of 2023 confirm that the number of active customers per month increased by 40% to 3.7 million people. This represents an increase of 1 million compared to the 2.7 million active monthly customers registered in the corresponding period last year.
The company is well positioned for further growth and expansion
Alinda van Wyck, CFO of Super Group, stressed that recent results point to strong operating EBITDA. She talked about the increase in monthly active customers that the company saw in the second quarter of this year. By expanding operations in various markets and improving cost efficiencies, the company can continue to grow in the long term, according to Super Group's CFO. “In the US, business is in line with expectations and we are confident in our strategy,” Vick concluded.
"Super Group delivered financial results that reflect our continued focus on both optimizing our global footprint and investing in long-term growth." Neil Menashe, Super Group CEO
Neil Menashe, CEO of Super Group, added that the company continues to perform well thanks to optimization efforts and investments in long-term goals. “Strong revenue performance this quarter delivered enhanced economies of scale in several markets, resulting in strong year-on-year growth in operating EBITDA excluding the US,” he added. Finally, Menashe predicted the continued success of the Super Group and the company's expansion into iGaming and betting.
