Neal Menashe, the CEO of Super Group, the digital gaming company overseeing brands such as Betway and Spin, has shared insights into the company’s successful operations in 2023 and outlined expectations for the upcoming year.
Betway, a prominent online sportsbook under the Super Group umbrella, solidified its international presence through strategic partnerships across various continents and jurisdictions in 2023. Collaborations with Push Gaming, Gaming Corps, BetGames, and Gaming Innovation Group (GiG) in the UK, Mexico, Africa, and Portugal marked significant milestones for the brand.
Menashe reflected on the company’s performance, stating, “We closed the year strong and reiterate our 2023 ex-US financial guidance of revenue of €1.35bn ($1.48bn) and operational EBITDA of at least €240m.”
Super Group achieved annual records for both deposits and net gaming revenue, with the fourth quarter witnessing a new record for unique monthly active customers, emphasizing consistent customer engagement and the company’s leading position in key markets.
The growth trajectory in Africa persisted and resumed in Canada, compensating for the impact of regulatory changes in India. Despite these challenges, Super Group’s Q3 report highlighted a 16% year-on-year increase in revenue, amounting to €356.9m.
Breaking down the regional performance, Betway experienced a substantial 48% revenue increase in Africa and the Middle East, while the Asia-Pacific, Europe, and North America regions witnessed approximately 17% growth each.
Menashe expressed optimism about the company’s outlook for 2024, noting, “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.”
Despite these positive developments, Super Group recently withdrew from the Indian market due to changes in the Indian Goods and Services Tax. As Super Group looks ahead to the new year, Menashe’s reflections underline the company’s commitment to navigating challenges, fostering international partnerships, and sustaining its position as a leading player in the digital gaming industry.
