Super Group has commented on its 2023 financial performance ahead of its full results release in March, stating it closed the year in a “strong” manner.
The parent company of online casino Spin and online gaming platform Betway is also “optimistic” about the year ahead, with growth in Africa and Canada offsetting changes in India.
Neal Menashe, Super Group CEO, made the statement about the group’s 2023 performance ahead of its participation in the Needham Growth Conference on January 16.
Menashe began by noting that the group is reiterating its 2023 revenue guidance excluding US operations of €1.35bn and operational EBITDA of at least €240m.
However, for the full year, the CEO stated that new highs have been set in deposits and net gaming revenue, with a new unique monthly active customers record achieved in the fourth quarter as well.
“We closed the year strong and reiterate our 2023 ex-US financial guidance of revenue of €1.35bn and operational EBITDA of at least €240m,” commented Manashe.
“For the year, we set annual records for both deposits and net gaming revenue and during the fourth quarter, we achieved a new record for unique monthly active customers, reflecting consistent customer engagement and our leading position in key markets.”
Menashe also provided information on Super Group’s regional market performance, stating that the group has witnessed growth in Africa and Canada.
This growth, according to the CEO, has offset the company’s cessation of all activities within the Indian market back in October due to changes to the country’s Goods and Services Tax.
Menashe stated: “The growth in Africa continues and has resumed in Canada – this growth has more than offset the impact of regulatory changes in India. In the US, our net EBITDA investment for the year will be less than the €70m previously communicated.”
The Super Group CEO added that the group believes another year of growth is possible in 2024, and expects that this will be demonstrated when its fourth quarter results are published in March.
“We are optimistic about another year of growth in 2024 and we plan to communicate our annual outlook when we announce our fourth quarter 2023 financial results in March.”