Super Group’s 2021 revenue totaled €1.32 billion (£1.10 billion/$1.44 billion), up 45.4% from €908.0 million in the previous year. group and in line with forecasts published in January.
The Super Group has experienced year-over-year revenue growth in all areas of its business, with the online casino remaining its primary source of revenue.
Online casino revenue increased by 25.7% to €888.7 million, most of which came from Spin online casino. Spin generated €629.9 million in revenue from the online casino, while the remaining €228.8 million came from Betway.
Sports betting revenue also jumped 139.9% to €387.2 million, with Betway contributing €385.4 million and Spin €1.8 million.
Brand and licensing revenue, all from Betway, increased by 16.4% to €71.1 million, while the Super Group also posted €3.7 million in other revenue for the year.
The main markets for the Super Group
In terms of geographic performance, North America was the Super Group’s main market in 2021, generating revenue of €593.7 million, which represented 45% of all revenue for the year.
Asia and the Pacific followed with 329.8 million euros, or 25% of all revenue, then Africa and the Middle East with 217.4 million euros (17%), Europe with 149.1 million euros (11% ) and South and Latin America with 30.8 million euros (2%).
Last year proved to be a historic year for the company when, in April, the brand signed a definitive agreement to merge with the Sports Entertainment Acquisition Corp. (SEAC) and expand its offering to the US market.
The merger was completed shortly after the end of the year, in January, following final approval by SEAC’s shareholders. Upon completion, common shares and public warrants in the combined business began trading under the symbols ‘SGHC’ and ‘SGHC WS’, respectively.
Other highlights of the organization
Other markets, such as France and Tanzania for Betway and Mexico for Spin. Three other markets have also been added so far in 2022, including Bulgaria.
The Super Group also signed over 30 sponsorship deals in 2021, with nine more deals signed in 2022.
In addition, the company has signed a binding and conditional agreement to acquire the United States-based Digital Gaming Corporation (DGC). As of April 13 this year, the DGC is active in six US states under the Betway brand and has secured market access in up to 12 states.
Subject to regulatory approvals and other customary closing conditions, the acquisition is expected to close in the second half of this year.
“We listed on the New York Stock Exchange in early 2022, a major milestone for Super Group after two decades of leadership in more than 20 markets around the world,” said Neal Menashe, CEO of Super Group.
“We expanded our partnerships throughout the year and our portfolio now exceeds 70 active businesses in 17 different countries,” added Menashe.
Super Group spending and expenses in 2021
Looking at costs, direct and marketing expenses were 46.3% higher to 896.5 million euros, while general and administrative expenses also increased 30.9% year-on-year to 149.9 million euros and Depreciation and amortization costs rose 50.9% to 83.6 million euros.
This meant that operating profit was 58.5% higher to 198.8 million euros, while, excluding certain costs, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) rose 60.1% to 289, 5 million euros in the year.
The Super Group noted 6.4 million euros in financial expenses, but this was easily offset by 1.3 million euros in financial income, 15.8 million euros in gain on derivative contracts and a gain of 16.3 million euros euros in other bargaining actions.
As a result, profit before taxes rose 51.0% from 149.6 million euros to 225.9 million euros, while after paying 10.0 million euros in income tax and accounting for 816,000 euros in negative conversion of foreign currency, this left a net profit of 235.1 million euros, an increase of 58.0% compared to the previous year.
“We are pleased to report strong growth and profitability in 2021, demonstrating the successful execution of our global growth strategy,” said Menashe. “We are, as always, grateful to our dedicated global team who have provided us with this exceptional financial performance.
“With an eye on our growth and profitability profile, we couldn’t be more excited to execute on our plans in 2022 and beyond.”
