Super Group Inc, stands by its global growth strategy despite witnessing a performance slowdown in North America and Asia during Q1 trading. The parent company of Betway and Spin brand recorded a 1% increase in Q1 2023 revenues to €338m [$363m] (Q12022: €334m).
The slowdown in revenues was primarily attributed to a 13% decrease in North American income to €130m, due to the firm’s adjustment to new Ontario market rules and US properties incurring a combined loss of €16m.
Meanwhile, in Asia, the Betway brand suffered a decline in revenues to €35m, down 36% on 2022 comparative results of €55m.
Super Group’s revenue performance was maintained in Europe in which it saw significant growth, increasing by 71% to €56m, with online casino brand Spin witnessing ‘exponential growth’ from €2.5m to €21m YoY.
