Super Group says its burgeoning customer base will propel growth
Monthly average users continue to climb as finance chief says growing numbers will help offset sports betting volatility
Super Group has hailed the strength of its increasing customer base as a launchpad for future growth for the online operator.
The parent company of Betway and multi-brand casino Spin posted a 26% dip in adjusted EBITDA and a 2% downturn in revenue in Q3 2022, but remains positive in its future outlook.
The firm retained its full-year 2022 guidance of revenue between €1.15bn and €1.28bn, and operational EBITDA between €200m and €215m.
Super Group noted a 7% uptick in monthly average customers during the third quarter, up to 2.7 million, and noted during October this figure jumped to 3.2 million.
Speaking on an analyst call following the results, CEO Neal Menashe championed the operator’s efforts to actively engage customers as a core driver.
He said: “It is all about the engagement on our platforms across casino and sports. And obviously lots of sports events happened in October, so customers have been re-engaged. These are high-quality customers and our aim is to keep bringing them back and increase that engagement.”
On 1 September, Super Group also acquired Jumpman Gaming, with the UK-licensed firm set to further bolster its customer base.
On the same call, chief operating officer Richard Hasson added: “Jumpman has built a great platform over the years and while it is a UK-focused business, it is an opportunity for us to help them expand into additional markets.
“They appeal to a different segment of the market, a much more recreational segment to our existing customers,” he added.
Elsewhere, chief financial officer (CFO) Alinda van Wyk touched on the strength of the customer base as a ring-fence against volatility in sports results.
She noted some volatility had already cropped up in Q4, with this set to continue.
She said: “There is some volatility around sports as you all know, especially around parlay results, and we’ve seen some of those volatilities coming through in November already, but we have a very strong customer base and we keep on engaging those customers.
“Results fluctuate beyond our control, so we just have to make sure that we keep on engaging the customers, and luckily our customer base is strong so it marginalises the volatility in the results,” van Wyk added.