Super Group (SGHC) Ltd - SGHC STOCK NEWS

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.

Super Group (SGHC) Limited (NYSE: SGHC) has completed its exchange offer for public and private placement warrants, resulting in the issuance of 5,332,141 Ordinary Shares. A Warrant Amendment allows the Company to exchange untendered public warrants for additional Ordinary Shares at a ratio of 0.225 per warrant. Following this, no warrants will remain outstanding, leading to delisting from NYSE. The company will issue approximately 263,606 more shares post-offer. The total number of outstanding Ordinary Shares will increase by about 1.14% to approximately 495,793,215 shares.

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.