{"id":202537,"date":"2022-02-23T11:23:36","date_gmt":"2022-02-23T19:23:36","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=202537"},"modified":"2022-02-23T14:43:04","modified_gmt":"2022-02-23T22:43:04","slug":"super-group-shares-rally-on-impressive-2021-financial-update","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/","title":{"rendered":"Super Group Soars as Preliminary 2021 Results Top Estimates"},"content":{"rendered":"

Shares of Super Group (NYSE:SGHC) are surging Wednesday, after the sportsbook operator provided a glance at its 2021 results, indicating it beat prior forecasts.<\/p>\n

\"Super
Executives from Super Group ring the bell at the New York Stock Exchange. The company is likely to beat 2021 financial estimates. (Image: The Global Herald<\/em>)<\/figcaption><\/figure>\n

The newly public gaming company said it generated 2021 net gaming revenue (NGR) of $1.52 billion on earnings before interest, taxes, depreciation and amortization (EBITDA) of $350 million. That bullish reveal is enough to have the previously downtrodden stock higher by nearly 6% in late trading, though volume in the name is light.<\/p>\n

Full year 2021 EBITDA is expected to be greater than $350 million. This performance in NGR and EBITDA, which both exceed the most recent forecasts, reflects growth and profitability in existing and new markets,\u201d<\/strong> according to a statement issued by the company.<\/p><\/blockquote>\n

Super Group, the parent company of Betway, debuted as a standalone publicly traded company last month following a merger<\/a> with a special purpose acquisition company (SPAC). The stock is lower by 9.22% over the past month.<\/p>\n

Decent Start for Super Group<\/h2>\n

With shares of so many deSPACed companies faltering, including several in the gaming industry<\/a>, analysts and investors are increasing scrutiny on balance sheets and financial sturdiness.<\/p>\n

\n

In other words, it’s positive that Super Group is showing an ability to meet and beat forecasts, that it’s positive on an EBITDA basis, and that it’s not bleeding cash to get there. Last year, the operator forecast 2022 NGR of $1.7 billion and EBITDA of $420 million. The company delivers fourth-quarter results in the first half of April, and a 2022 update is expected the following month. Those figures could be boosted by new markets.<\/p>\n<\/div>\n

\u201cThe Betway brand is currently live in five US.states through Digital Gaming Corporation, and DGC has secured market access in up to an additional seven states,\u201d according to the statement.<\/p>\n

Super Group acquired DGC last year to gain access to more US markets. That transaction is still pending.<\/p>\n

\u201cDGC has the exclusive right to use the Betway brand in the US and has secured market access for online sports betting and gaming in up to an initial 10 US states, including Pennsylvania, New Jersey, Colorado, Indiana, and Iowa. DGC\u2019s first bet in the US was taken in March 2021,\u201d according to a statement issued last year by Super Group<\/a>.<\/p>\n

Super Group Might Have Right Recipe<\/h2>\n

When Super Group’s SPAC transaction was announced last April, there was some scuttlebutt in the investment community that the operator wasn’t looking for massive market share in the US right off the bat.<\/p>\n

Rather, the speculation was that the Betway parent would look to prudently build solid footprints in various states while not looking to usurp the biggest names in the industry.<\/p>\n

Super Group management hasn’t overtly said that’s the template they’re following. But if it is the case, investors could favor that model, particularly as some larger rivals hemorrhage cash<\/a> and are nowhere close to profitability.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Super Group (NYSE:SGHC) are surging Wednesday, after the sportsbook operator provided a glance at its 2021 results, indicating it beat prior forecasts. The newly public gaming company said it generated 2021 net gaming revenue (NGR) of $1.52 billion on earnings before interest, taxes, depreciation and amortization (EBITDA) of $350 million. That bullish reveal […]<\/p>\n","protected":false},"author":46,"featured_media":202540,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\nSuper Group Shares Rally On Impressive 2021 Financial Update<\/title>\n<meta name=\"description\" content=\"Super Group stock jumps as company offers up bullish preliminary guidance for 2021.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Super Group Shares Rally On Impressive 2021 Financial Update\" \/>\n<meta property=\"og:description\" content=\"Super Group stock jumps as company offers up bullish preliminary guidance for 2021.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-02-23T19:23:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-02-23T22:43:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/SGHC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/\",\"url\":\"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/\",\"name\":\"Super Group Shares Rally On Impressive 2021 Financial Update\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/SGHC.jpg\",\"datePublished\":\"2022-02-23T19:23:36+00:00\",\"dateModified\":\"2022-02-23T22:43:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Super Group stock jumps as company offers up bullish preliminary guidance for 2021.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/super-group-shares-rally-on-impressive-2021-financial-update\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/SGHC.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/02\/SGHC.jpg\",\"width\":1280,\"height\":720,\"caption\":\"Executives from Super Group ring the bell at the New York Stock Exchange. 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