Super Group: Canada regulated market transition was successful

Super Group successfully transitioned its operations to the regulated market in Q3

Super Group has stated in its recent earnings call that it has seen early positive signs in Canada following its switch to the regulated market in the province of Ontario.

CEO Neal Menashe highlighted the operator’s performance in Canada during Super Group’s Q3 earnings call, noting that its online sportsbook Betway and casino Spin operations have been “in line with expectations” so far.

He added that Ontario remains profitable for the group following the transition to the regulated market.

Menashe said on the call: “In Canada, we successfully transitioned Betway to Ontario’s regulated environment. 

“Our performance there has been in line with our expectations, including the excavation and engagement of historic Ontario customers with the new Ontario-specific platform. Overall, Canada continues to perform and remains profitable for us.”

The positive Canada indications come despite Super Group reporting a 2% loss in overall Q3 revenue year-over-year to US$315.81m (Q3 2021: $320.74m) due to “a decline in online casino net revenue and brand license fee income” that was “partially offset by an increase in sports betting net revenue”.

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