Betway Owner Super Group Aims For $350m EBITDA To Convey NYSE Credential

Published: 24th August 2021
Author: Joe Kizlauskas
Last Updated: 30th January 2023

Super Group, the parent company of Betway and Spin, is on target to meet full-year revenue estimates of $1.5 billion, with EBITDA of over $350 million.

Super Group provided the forecasts in an update to investors on the status of its F-4 registration with the Securities and Exchange Commission (SEC), as corporate governance pursues a NYSE listing lead by SPAC partner Sports Entertainment Acquisition Corp. (SEAH).

Super Group CEO Neal Menashe said: “We continue to make progress as we pursue completing our public listing on the NYSE in the fourth quarter of this year.

“Our first half 2021 estimated Net Gaming Revenue is $763 million, and our estimated EBITDA for the same period is well within management’s expectations, putting us on track to meet our full-year 2021 financial outlook.”

NYSE wagering venture

Super Group plans to file its F-4 SEC filing by the end of August trading, with a target valuation of $4.5 billion — forming a new NYSE wagering venture with existing Super Group stockholders owning 88 percent of the company.

Super Group also announced that, subject to normal clearances, it has struck definite negotiations to acquire US-licensing partner Digital Gaming Corporation (DGC).

The DGC deal will provide market access for online gambling for an initial ten US states, including Pennsylvania, New Jersey, Colorado, Indiana, and Iowa, which will be critical to the company’s future worth.

“We plan to submit our registration statement on Form F-4 filing by the end of August, and then update investors with additional financial details once we have completed our comprehensive financial review of the first half of 2021,” Menashe concluded. “Based on management’s view of the business today, we remain comfortable with these full-year 2021 financial projections.”

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About Joe Kizlauskas

Joe is a seasoned iGaming copywriter and speaker who has been in the business since 2015. He's written more words on all elements of iGaming than he likes to remember, and he's contributed material to a number of well-known brands. Joe may be seen playing 5 a side, at the gym or playing games on his Playstation when he is not writing.