Super Group CEO Neal Menashe noted the influence of the company’s igaming operations in helping it deliver its “record-breaking” Q4 and 2023 results.
Menashe said the Betway owner’s record revenue of €1.4bn for the full year saw it “comfortably” surpass initial expectations.
Super Group also posted record fourth quarter revenue of €359.9m, with profit before tax for the year at €16.8m and loss before tax at €44.9m.
Menashe said Super Group made “tremendous strides” in 2023, with Q4 “particularly” strong.
“Despite the challenging start, we set record breaking totals for revenue, customer numbers and deposits cementing our position as a growing, cash generative and geographically diverse online sports betting and igaming operator,” he said.
Menashe added: “Igaming continues to be the largest part of our business, allowing us to manage moments of volatility in the sportsbook to deliver record-breaking results. We are confident that we will achieve the double-digit top-line growth that we are projecting for 2024."
Super Group CFO Alinda van Wyk said: “For the fourth quarter, we delivered ex-US revenue of €352m and ex-US operational EBITDA of €54m, which resulted in our December margin hitting 24 per cent, the strongest ever.
“To have surpassed our guidance in the face of multiple headwinds is indicative of our laser focus on realising cost efficiencies and investing in growth where we can see a clear return.
“In the US, the operational EBITDA loss was less than expected for the year and we are actively evaluating all of our options."
