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

Super Group (SGHC) Limited announced the results of its exchange offer for public and private placement warrants. The offer expired on December 12, 2022, with approximately 94.79% of public warrants validly tendered. The company will accept these warrants for exchange before December 14, 2022. Following the offer, all outstanding warrants will be canceled or converted into Ordinary Shares, increasing the total to about 495,793,174 shares. The SEC declared the related registration statement effective on December 9, 2022.

Super Group (SGHC) Limited (NYSE: SGHC) announces the upcoming expiration of its public warrants exchange offer and consent solicitation on December 12, 2022. Holders of public and private placement warrants are encouraged to participate by tendering warrants and providing consent to amend the warrant agreement. The offer allows public warrants to be exchanged at a rate of 0.25 Ordinary Shares per warrant. If a majority does not participate, the company may cancel or extend the offer. Warrant holders should act promptly to meet the December 9 deadline.

Super Group (SGHC) Limited reported third quarter 2022 revenue of €307.8 million, a 2% decline from €312.6 million year-over-year. Profit after tax fell to €34.9 million from €50.5 million a year earlier, and Adjusted EBITDA decreased 26% to €56.1 million. Although cash and cash equivalents were at €266.0 million, a reduction from €293.8 million as of December 31, 2021, the company saw a 7% increase in Monthly Average Customers to 2.7 million. Management remains focused on technology and marketing investments for long-term growth.

Super Group (SGHC) Limited has initiated an exchange offer for its outstanding public warrants, aiming to simplify its capital structure and mitigate potential dilution. The offer allows holders to exchange each public warrant for 0.25 Ordinary Shares, with a total of 5,624,997 shares available. Concurrently, the company seeks consent to amend the warrant agreement, potentially eliminating remaining warrants post-offer. Approximately 22.5% of public warrant holders have agreed to participate. The offer will remain open until December 12, 2022, unless extended.

Super Group (SGHC) Limited announced plans for an exchange offer involving its outstanding public warrants, providing holders the chance to exchange each warrant for 0.25 Ordinary Shares. Alongside this, a consent solicitation is planned to amend the warrant agreement to cancel private placement warrants and adjust the conversion ratio of public warrants. Additionally, Pre-Closing Holders will waive their rights to earnout shares upon completion of the offer and solicitation. This initiative aims to streamline warrant management, although forward-looking statements highlight potential risks in market and regulatory conditions.

Super Group (SGHC) Limited, parent company of Betway and Spin, updated its business performance and reaffirmed its 2022 guidance. The company expects revenue between €1.15 billion and €1.28 billion and Adjusted EBITDA between €200 million and €215 million. Notably, Super Group's acquisition of Jumpman Gaming contributed €7 million in net revenue for September 2022. The company is also in discussions to enhance its sportsbook capabilities and is preparing for the acquisition of Digital Gaming Corporation to penetrate the U.S. online betting market.

Super Group (SGHC) Limited, the parent company of Betway and Spin, will report its third-quarter financial results for the period ending September 30, 2022, on November 22, 2022, prior to the U.S. market opening. A conference call and webcast will follow at 8:30 a.m. ET to discuss these results. The company is recognized for its strong position in the online sports betting and gaming industry, leveraging advanced technology for market entry and customer experience.

Super Group (SGHC) Limited, the parent company of Betway and Spin, announced participation in two investor conferences: Susquehanna Financial Group’s Virtual Gambling and Tech Ecosystem Forum on September 7, 2022, and Benchmark Company’s Consumer/Media/Entertainment Investor Conference on September 8, 2022. These events aim to connect executive management with investors. Super Group operates within multiple jurisdictions, focusing on sports betting and online gaming in Europe, the Americas, and Africa. More information can be found on their Investor Relations website.

Super Group (SGHC) Limited reported a 10% decrease in revenue to €320.8 million for Q2 2022, primarily due to a decline in online casino revenue. Despite this, profit after tax surged to €298.6 million from €63.9 million year-over-year, bolstered by non-cash fair value gains. Adjusted EBITDA also fell 30% to €63.6 million, reflecting increased financial discipline amid macroeconomic challenges. Monthly active users grew by 3% to 2.7 million. Cash equivalents stood at €220.0 million as of June 30, 2022.