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Betway and Spin owner Super Group saw a 16% year-on-year revenue increase to €356.9m in Q3 2023.

Growth was primarily driven by the African and Middle Eastern, European, and North American markets, although it was partially offset by declines in the Latam and Asia-Pacific regions.

Betway contributed €206.4m of the total revenue, while Spin accounted for €150.5m.

Super Group CEO Neal Menashe commented: “Super Group has delivered yet another quarter of solid results, having achieved our highest ever revenue for a third quarter, as well as new all-time highs for both our customer numbers and deposits. 

“I remain encouraged by our very strong customer engagement and continued expansion of our global iGaming offering.”

Operational EBITDA for Q3 was €53.8m, up from €49.6m in the third quarter of 2022. 

Super Group CFO Alinda van Wyk added: “For the third quarter, we delivered ex-US revenue of €348.9m and ex-US operational EBITDA of €64.1m, resulting in a strong margin of 18%.

“We remain focused on investing for future growth and realising cost efficiencies. Despite some headwinds experienced this quarter, we are reaffirming our guidance, assuming a normalised margin for the remainder of the year.”

Monthly active customers increased by 44% to 4 million in Q3 2023, up from 2.7 million in Q3 2022.

In terms of geographical revenue distribution, the US accounted for the largest share, registering a 9% year-on-year increase to €134m. 

Africa and the Middle East grew 43% to reach €100.1m, while in Europe revenue grew 41% to €54m. 

In the Asia-Pacific region, the company saw a 9% year-on-year revenue decrease to €62m, and in Latam, it registered a 14% year-on-year decline to €6.7m.