Super Group, the parent company of popular online casino Spin and leading sports betting and gaming operator Betway, has released its latest financial report. The company reported an increase in operational EBITDA and revenue for the third quarter of this year.
The company’s revenue for the latest trading period was €356.9 million ($381.4 million), marking a 16% increase compared to the same period in 2022. Super Group attributed this strong revenue to growth in its operations in Europe, North America, Africa, and the Middle East, although it was partially offset by declines in the South/Latin America and Asia-Pacific markets.
Operational EBITDA for Q3 reached €53.8 million ($57.5 million), also showing an increase from the corresponding period last year. Additionally, the company saw an uptick in its monthly active customers, with a total of 4.0 million in the third quarter of 2023, compared to 2.7 million in Q3 2022, marking a 44% increase.
Following the recent trading period, Super Group announced its withdrawal from the gambling sector in India due to an increase in taxes applicable for gambling activities, which made its business in the country unsustainable.
Super Group’s CFO, Alinda van Wyk, emphasized the company’s dedication to investing in future growth and implementing cost efficiencies despite some headwinds in Q3. She reaffirmed the company’s guidance for the rest of the year.
CEO Neal Menashe expressed satisfaction with the company’s performance, citing its highest ever revenue for a third quarter, as well as new all-time highs for both customer numbers and deposits. He also predicted further expansion for the company within the global iGaming vertical.