Super Group enjoys Q4 sports betting & online casino growth in Canada
Ontario proved the exception to the rule
Super Group has highlighted growth in Canada – with the exception of Ontario – for its sports betting and online casino divisions during the fourth quarter of FY2022.
Overall, Super Group’s sports betting revenue increased by $7.28m (+5%) to $16.47m, with growth in Canada playing an important role.
But its online casino revenue decreased by $4.37m (-1%) to $304.65m, attributed to ‘Ontario regulation transition’ and ‘decline in APAC markets’, though the group noted ‘some growth’ in Canada excluding the province of Ontario, mirroring that of its sports betting division.
Alinda van Wyk, CFO of Super Group, commented: “Super Group remains financially strong, and we continue to run our business profitably while investing in technology and marketing to support future growth.
“We remain focused on operating more efficiently in 2023 in order to improve scale and our operating margins going forward.”
Super Group’s owned sportsbook, Betway, was given permission to operate by the Alcohol and Gaming Commission of Ontario (AGCO) last April, while four of its casino brands – Jackpot City, Royal Vegas, Ruby Fortune and Spin Casino – were approved in June.
Meanwhile, the operator recorded total revenue of $480.8m for Q4 and $1.87bn for the full financial year.
Neal Menashe, CEO of Super Group, added: “Super Group is a leading global pure-play sports betting and online casino company seeking to continually optimize and grow our global footprint, including in the US.
“We continue to efficiently invest in our brand, enhance our technology platform and benefit from our consistent cash generation.”