Super Group released its preliminary results for the full year 2021, expecting nearly 40% year-over-year revenue growth.
Super Group Releases Preliminary Full Year 2021 Results
Betway and Spin holding company, Super Group (SGHC), released its preliminary full year 2021 results on Wednesday. Super Group revealed that it expects its net gaming revenue (NGR) to exceed $1,520 million for the full year of 2021. This marks a significant 36% increase when compared to the results from 2020.
Moreover, the company expects to surpass $350 million in EBITDA for the full year 2021. In its most recent statement, Super Group revealed that its NGR and EBITDA will likely exceed the initial projections. What is more, the full year 2021 results are expected to demonstrate the profitability and growth the company has achieved in new markets.
The Company Plans to Keep Momentum, Continue Expanding
Since 2021, Super Group has been continuously expanding its global presence. By now, the Betway brand has entered and launched its services in five US states under a deal with Digital Gaming Corporation (DGC). Moreover, under the collaboration DGC has secured access to another seven states. Later this year, DGC is expected to become a part of Super Group, subject to regulatory approvals.
“Super Group reiterated that it has a steady pipeline of opportunities that would enable it to launch the Betway and Spin brands in additional global markets throughout 2022.”
Super Group
The preliminary results come at a time when only recently Super Group debuted on the New York Stock Exchange (NYSE). While previously, the company expected to meet its H2 2021 targets, preliminary results now reaffirm that the full year 2021 results will likely surpass the initial forecasts. With that in mind, the company revealed that its full year 2021 financial results are going to be released in the first half of April, along with the company’s first earnings call.
“Super Group has an expanding, global footprint in a high-growth addressable market.”
Richard Hasson, president and COO at Super Group
Richard Hasson, the president and COO of Super Group, explained that the company continues to expand. He outlined that upon completing its public listing, the company plans to release its full year 2021 results during its first earnings call this year in April. Last but not least, Hasson said that Super Group is expected to discuss its first quarter 2022 financial results and provide a business update in May.