Super Group, the parent company of Betway and Spin, released its second quarter financial results.
The revenue of the Super Group decreased in the second quarter
There was a decrease in the company’s revenue during the three months ended June 30, 2022, according to the results. In the second quarter of last year, Super Group had revenue of 355.2 million, while in the first quarter of this year it had revenue of 320.8 million. The 10% decrease in revenue was the result of a decline in online casino net gaming revenue, as well as income from brand license fees, according to the company. Despite the decline in revenue, Super Group acknowledged that the Q2 result was partially offset thanks to an increase in sports betting net revenue.
Super Group stated that its profit after tax for the second quarter increased. The profit after tax increased to 298.6 million this year from 63.9 million in the same period in 2021. In the second quarter of this year, there was an increase of 319.3 million ($ 30.1 million). In the second quarter of last year, there was a halt in earnings at 91.4 million.
A breakdown of revenue per region has been released by the Super Group
Super Group’s monthly average customers increased in the second quarter of this year. In the second quarter of this year, the company acknowledged it had 2.7 million monthly average customers, an increase of 3% when compared to the 2.6 million monthly average customers in the second quarter of last year.
Super Group’s North America operations reported the highest revenue during the three months ended in June. The Asia-Pacific region reported 77.4 million ($80 million) in revenue, followed by the North America region with 142.1 million in revenue. Although those were good results, they still didn’t surpass the revenue reported for the same period in North America and Asia-Pacific.
Super Group revenue from Africa and Middle East increased from 54.3 million ($56.1 million) last year to 63.6 million ($65.8 million) this year. The company reported 30.5 million in revenue from its European operations in the second quarter of this year, while its South/Latin America operations reported $7.4 million in revenue.
The company is focused on further growth
Super Group is debt free and profitable, according to Alinda van Wyk, the company’s CFO. She pointed out that Super Group has seen an increase in its monthly active users despite the slight dip in revenue.
Super Group’s balance sheet remains strong and its business remains fundamentally sound despite the current macro environment, according to Neal Menashe, the company’s CEO. He explained that the company is focused on growing and pursuing strategic opportunities while at the same time investing in its global business.
Summary:
Super Group, the parent company of Betway and Spin, released its second quarter financial results. In the second quarter of last year, Super Group’s revenue was 347 million dollars, while this year it is 320.8 million dollars. The decline in online casino net gaming revenue was the reason for the 10% decrease in revenue.