Super Group Q1 revenue up 7 at 334 5m but losses total 163 2m

Alaska -
Super Group, the parent company of both the sportsbook Betway and online casino Spin, has posted revenue of €334

Super Group, the parent companion of both the sportsbook Betway and online casino Spin, has posted revenue of €334.5m ($367.4m) for Q1 2022, upwards 7% year-on-year.

The company’s adjusted EBITDA increased 14%, too, rising to €61.5m this quarter.

Furthermore, hard cash equivalents increased by 39% to €272.7m year-on-year.

However, the operator posted losses after task of €163.2m, which included €201.5m of costs and charges inwards reasonable values associated with Super Group’s stage business combining and listing as a public company.

Super Group completed its business combining with Sports Entertainment Acquisition Corp. (SEAC) on 27 January 2022. This resulted inward SGHC shareholders (the old epithet for Super Group) exchanging their shares for shares inward the young society (Super Group) inwards a pre-closing reorganisation.

Aside from this merger and re-brand, Super Group has increased its regulated market place front through and through the launch of both a sportsbook and casino offering in Bulgaria.

Furthermore, Super Group has signed IX unexampled partnerships during Q1 2022, striking deals with the Milwaukee Bucks, the Stock Car Pro Series Brazil and the Gold Coast Women’s Football League.

The Group’s Betway and Spin brands hold also been awarded enrolment in the newly regulated Ontario market place during this quarter.

The CEO of Super Group, Neal Menashe, said: “During the first of all billet of 2022, Super Group began operating as a US in public listed company, and continued to expand inwards both existing and unexampled markets in line of business with our growing strategy.

“Our squad has go wonted(a) to navigating the stage business through and through changing and challenging environments, and we trust the strategies that we are executing on testament enable us to persist in doing so as we occupy Super Group from strength to strength.”

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