Super Group Expresses Confidence in Long-Term Success, Eyes Further Crypto Opportunities

Super Group’s leadership has addressed the company’s record-breaking Q2 and discussed future opportunities for the business. Among other things, Super Group mentioned crypto as a sector it is closely following.

Super Group Experienced Strong Growth in Most Markets

Super Group’s recent Q2 report outlined new revenue and EBITDA records, sparking optimism about the company’s long-term success. During the company’s earnings call, CEO Neal Menashe listed product, cost, and momentum in key regions as three core pillars of the company’s current strategy.

Menashe said that the company’s business in Europe experienced significant growth (53%), with the UK as a clear outlier where the company’s revenue surged 83%. He added that his team also experienced stable growth in Spain and Ireland.

Africa was another high-performing market, with Super Group experiencing a 59% growth in revenue in the region. North America, on the other hand, experienced a 23% year-on-year growth in revenue thanks to a stellar 112% growth in the US. Despite that, the company remains on track to exit the US due to a variety of factors, including new tax policies in several states. While the company’s balance sheet remains strong, CEO Menashe hopes to minimize the costs associated with this upcoming restructuring.

The Asia Pacific region, conversely, presented challenges to Super Group, although Menashe said that his team is already working hard to mitigate the impact.

Super Group Is Poised to Deliver Long-Term Success

As for the future, Super Group is seeing “several compelling drivers for future upside,” including a varied sports calendar, focus on enhanced trading and pricing, increased product traction, calculated market efficiencies, casino strength, and a revenue mix that will enable further growth.

With strong financials, a clear plan, and an exciting second half ahead, we believe that Super Group will be able to generate further profitable growth and deliver long-term value for our shareholders.

Neal Menashe, CEO, Super Group

Super Group Eyeing Crypto Opportunities

Among other things, Menashe mentioned the crypto space as something his team is actively implementing and exploring. When asked to elaborate on that matter, the CEO explained that crypto can mitigate the company’s banking issues in Africa, which is an increasingly important market to the company. In addition to that, crypto caters to a different customer group, broadening Super Group’s appeal.

It’s a different kind of customer, again, a different genre, the same way in the casinos, we have different genres of casino. Crypto is a different kind of customer. So obviously, that I think helps us. 

Neal Menashe, CEO, Super Group

Responding to another question, Menashe clarified that the addition of a new chief technology officer reflects the company’s disciplined approach and pursuit of efficiencies.