Welcome to our dedicated page for Super Group (SGHC) news (Ticker: SGHC), a resource for investors and traders seeking the latest updates and insights on Super Group (SGHC) stock.
Super Group (SGHC) Limited, symbol SGHC, is a distinguished holding company that operates leading global online sports betting and gaming businesses. The company oversees two major segments: Betway and Spin, which have positioned themselves as powerful entities within the digital betting and gaming industry.
Betway is a premier online sports betting brand with a global footprint. Known for its user-friendly interface and wide range of sports markets, Betway has secured strategic partnerships with various sports teams and leagues internationally. These partnerships not only enhance Betway's market presence but also help in the recovery of sponsorship marketing expenditures through brand license agreements. This segment accounts for the majority of Super Group's revenue, highlighting its significance within the company's portfolio.
On the other hand, Spin is a multi-brand online casino offering a diverse selection of games that cater to different player preferences. Spin operates multiple online casino brands, providing an engaging and secure gaming experience to its users. This segment complements Betway’s offerings, ensuring that Super Group covers a broad spectrum of the online gaming market.
Super Group has attained recent milestones that emphasize its growth and strategic direction. The company has consistently expanded its market reach and improved its financial standing. Through continuous innovation, customer-centric services, and strategic partnerships, Super Group has bolstered its position in the highly competitive market of online sports betting and gaming.
For investors and stakeholders, Super Group's robust business model and diversified revenue streams present a promising financial outlook. The company’s dedication to responsible gaming and compliance with regulatory standards further solidifies its reputation and operational integrity.
Stay updated with the latest news and developments about Super Group to understand their performance, events, and ongoing projects.
Super Group (SGHC) , the parent company of Betway and Spin, has announced its participation in three upcoming investor conferences. The events include:
1. Canaccord Genuity's 44th Annual Growth Conference on August 13, 2024, featuring a fireside chat and investor meetings.
2. The Benchmark Company's 11th Annual TMT One Growth Conference on September 5, 2024, with investor meetings.
3. BTIG Digital Gaming Day 2024 on September 10, 2024, also featuring investor meetings.
Key attendees from Super Group will include CEO Neal Menashe, CFO Alinda Van Wyk, and President & CCO Richard Hasson. A live webcast and replay of the Canaccord Genuity fireside chat will be available on SGHC's investor relations website.
Super Group (SGHC) (NYSE: SGHC) reported its Q2 2024 financial results, highlighting record-breaking performance. Key points include:
- Revenue reached €414.7 million, an all-time quarterly record
- Loss of €0.8 million, including €36.8 million non-cash impairment charges
- Non-GAAP Adjusted EBITDA ex-US of €98.3 million, the highest quarterly ex-US adjusted EBITDA to date
- Total non-GAAP Adjusted EBITDA of €81.9 million
- Unrestricted cash of €306.8 million as of June 30, 2024
The company raised its ex-US Adjusted EBITDA guidance for full-year 2024 to over €300 million and announced its first-ever dividend.
Super Group (NYSE: SGHC), parent company of Betway, has announced a multi-year agreement with Manchester City, making Betway the Official Global Betting Partner of the English Premier League Champions. The partnership will commence from the 2024/25 season. To mark this significant deal, Super Group CEO Neal Menashe and City Football Group CEO Ferran Soriano will ring The Opening Bell at the New York Stock Exchange.
This agreement strengthens Betway's position in the top tier of Premier League partners, expanding its already impressive sports sponsorship portfolio which includes teams from the Premier League, La Liga, and NBA. The partnership aims to increase Betway's global reach, connecting with Manchester City fans worldwide.
Super Group (SGHC) , the parent company of Betway and Spin, will release its second quarter 2024 financial results on August 7, 2024, before the U.S. stock market opens. The company, which operates in online sports betting and gaming, has scheduled a conference call and webcast for the same day at 8:30 a.m. ET to discuss the results. Investors can access a live audio webcast and supplemental presentation on the company's investor relations website. A replay of the audio call will be available for one year after the live event.
Super Group (SGHC), parent company of Betway and Spin, has announced plans to exit the U.S. sportsbook market after an internal review revealed no long-term profitability. The group, operating in nine states, will collaborate with regulators and partners to close its sportsbook operations. However, it will retain its iGaming presence, managing two brands in New Jersey and Pennsylvania, including Jackpot City. According to CEO Neal Menashe, the decision aligns with the company's strategy to focus on profitable markets. The closure will incur costs, to be detailed in the next earnings call, but it won't impact the company's capital or operational plans. Non-U.S. earnings will remain unaffected.
Super Group (SGHC), the parent company of Betway and Spin, has announced its first cash dividend of $0.10 per share, payable on July 17, 2024, to shareholders of record as of July 8, 2024. The company plans to pay at least $0.10 per share annually, with potential for higher dividends based on business conditions. Super Group aims to start paying dividends quarterly from the first quarter of 2025, pending Board approval. CEO Neal Menashe highlighted the dividend as a demonstration of the company's confidence and strength, and its commitment to returning cash to shareholders while maintaining growth opportunities.
Super Group (SGHC) reported record revenue of €379.3 million for the first quarter of 2024, with a profit of €41.0 million, driven by growth in Africa and North America markets. The company achieved a 12% revenue increase, with Adjusted EBITDA reaching €46.5 million. Monthly Active Customers saw a 33% increase to 4.7 million. Cash and cash equivalents stood at €289.2 million as of March 31, 2024. The company continues to invest in high-growth areas while maintaining a lean operating model.
Super Group (SGHC) is set to assume full control of its sportsbook technology platform by acquiring it from Apricot's licensor for a total consideration of approximately €140 million, with additional payments contingent on revenue targets. This move will enhance Super Group's operational flexibility and growth prospects in the online sports betting and gaming industry.
FAQ
What is the current stock price of Super Group (SGHC) (SGHC)?
What is the market cap of Super Group (SGHC) (SGHC)?
What is Super Group (SGHC) Limited?
What are the main segments of Super Group?
How does Betway generate revenue?
What services does Spin provide?
What recent achievements has Super Group made?
Why is Betway significant for Super Group?
What makes Spin unique?
How does Super Group ensure responsible gaming?
What is the financial outlook for Super Group?
Where can I find the latest updates on Super Group?
