Super Group (SGHC) Ltd Stock Price, News & Analysis

Super Group (SGHC) Limited has filed its annual report on Form 20-F for the year ended December 31, 2022. This report includes audited financial results and adjustments from preliminary results previously announced on March 14, 2023. Key adjustments include a €15.1 million increase in a derivative liability related to the B2B division sale and an additional lease expense of €2.1 million. These adjustments reduced profit before tax but did not affect revenue, Operational EBITDA, or cash. The final reported revenue was €1,292.2 million with a profit before tax of €216.5 million, indicating significant performance despite adjustments. The report highlights Super Group's strong position within the online sports betting and gaming sectors.

Super Group (SGHC) Limited announced its fourth quarter and full year 2022 financial results, reporting revenues of €329.1 million for Q4 and €1.29 billion for the full year, exceeding guidance. The profit before tax was €38.3 million for Q4 and €233.7 million for 2022, indicating growth. However, EBITDA decreased to €56.1 million for Q4 and €298.2 million for the year. The operational EBITDA also fell 39% in Q4 and 31% for the year. The company maintained strong cash reserves of €255 million at year-end. Management expressed confidence in growth potential in the U.S. market.

Super Group (SGHC) Limited, the parent company of Betway and Spin, will release its financial results for the fourth quarter and full year ending December 31, 2022, on March 14, 2023, before U.S. market open. The management will hold a conference call at 8:30 a.m. ET to discuss these results, which can be accessed through a live audio webcast. Super Group operates in sports betting and gaming, licensed in various jurisdictions worldwide, with a strong market presence in Europe, the Americas, and Africa.

Paysafe (NYSE: PSFE) expands its payment processing services into the Ohio online sports-betting market, enhancing its operations in 25 U.S. jurisdictions. Following its entry into Maryland in Q4 2022, the company aims to capitalize on Ohio's market, projected to generate $900M in annual gaming revenue. Paysafe is collaborating with major sportsbooks like DraftKings (NASDAQ: DKNG) and Betway (NYSE: SGHC), offering a suite of payment solutions, including deposits via credit and debit cards and its Skrill digital wallet. This expansion positions Paysafe as a leader in the rapidly growing iGaming sector.

Super Group (SGHC) Limited (NYSE: SGHC) has announced a share repurchase program, authorizing the buyback of up to $25 million of ordinary shares through December 31, 2023. The repurchases will occur on the open market or via negotiated transactions, reflecting the company's confidence in its strong, debt-free balance sheet. CFO Alinda van Wyk emphasized that this initiative aims to enhance long-term shareholder value while providing flexibility depending on market conditions.

Super Group (SGHC) Limited, parent company of leading online sports betting brand Betway and multi-brand casino Spin, announced its participation in the 25th Annual Needham Virtual Growth Conference on January 12, 2023, at 9:30 a.m. ET. Key executives, including CEO Neal Menashe and CFO Alinda van Wyk, will present and discuss Super Group's robust positioning in the online gaming market. Alinda van Wyk highlighted SGHC's profitability in 2022 despite various global challenges, aligning with their prior guidance. A live webcast of the event will be available on their Investor Relations website.

Super Group (SGHC) has successfully acquired Digital Gaming Corporation Limited (DGC), marking its entry into the U.S. online sports betting market. The acquisition allows SGHC to expand its operations across up to twelve states, including eight currently live, leveraging the Betway brand. CEO Neal Menashe emphasized the company's strong financial position and growth potential. The deal is expected to significantly enhance Super Group’s footprint in the growing U.S. market.

Super Group (SGHC) Limited announced a public warrant exchange, cancellation of private warrants, and earnout shares waiver. These measures will prevent the issuance of about 78.8 million shares, reducing the fully diluted share count by 13.6% to approximately 502.4 million. The company's executives emphasized that these actions simplify the capital structure, mitigating future dilution risks and demonstrating their commitment to shareholder value.