{"id":275,"date":"2024-06-28T12:15:48","date_gmt":"2024-06-28T09:15:48","guid":{"rendered":"https:\/\/shazamcasinonodepositbonus.icu\/2024\/06\/28\/super-group-reports-decreased-earnings-and-profits-in-2022\/"},"modified":"2024-06-28T12:15:48","modified_gmt":"2024-06-28T09:15:48","slug":"super-group-reports-decreased-earnings-and-profits-in-2022","status":"publish","type":"post","link":"https:\/\/shazamcasinonodepositbonus.icu\/2024\/06\/28\/super-group-reports-decreased-earnings-and-profits-in-2022\/","title":{"rendered":"Super Group Reports Decreased Earnings and Profits in 2022"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/faNEa_P3GHg\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>##  A Large Company&#8217;s Earnings and Profits Decrease in the Past Fiscal Year<\/p>\n<p>Betway&#8217;s parent organization, a large multinational, reported earnings of \u20ac1.29 billion (\u00a31.13 billion\/$1.38 billion) for 2022, a period characterized by widespread decreases.<\/p>\n<p>The company&#8217;s revenue experienced a 2.1% decline compared to the previous year.<\/p>\n<p>The organization implemented several strategic actions during the year. Its $4.75 billion merger with SEAC was finalized in January 2022 after shareholder approval. In June, four of its brands, including its primary gaming brand Spin, were granted permission to operate in Ontario.<\/p>\n<p>In early January, the company was authorized to launch in the US after acquiring Betway&#8217;s local operations.<\/p>\n<p>The CEO of the company, Neil Menash, stated that the organization is eager to expand its global presence, particularly in the US.<\/p>\n<p>\u201cThis company is a leading global pure-play sports betting and online casino company dedicated to continuously improving and expanding its global reach, including in the US,&#8221; Menash stated. &#8220;We continue to invest wisely in our brands, enhance our technology platform, and benefit from our consistent cash flow.<\/p>\n<p>\u201cWe believe we are well-prepared to apply our proven strategy to the US market and take advantage of the multi-year investment opportunity we see.&#8221; <\/p>\n<p>Arlinda van Wyck, the Chief Financial Officer of Super Group, stated that upcoming investments will concentrate on technology and advertising to further propel the company&#8217;s expansion in 2023.<\/p>\n<p>&#8220;Super Group&#8217;s financial standing remains robust, and we continue to operate profitably while investing in technology and marketing to support future growth,&#8221; van Wyck remarked. &#8220;We remain dedicated to enhancing operational effectiveness in 2023 to augment scale and future operating margins.&#8221;<\/p>\n<p>Yearly Outcomes<\/p>\n<p>Full-year 2022 income encompassed net revenue and additional revenue, which included brand licensing revenue.<\/p>\n<p>Income was primarily generated from online casino revenue, totaling \u20ac816 million. This represented a 5.4% decline compared to 2021.<\/p>\n<p>Sports betting revenue attained \u20ac439 million, an increase of 12.2% compared to the 2021 fiscal year. Other revenue amounted to \u20ac41 million, a decrease of 42.2%, accounting for the remaining income.<\/p>\n<p>Total direct expenses for the year amounted to \u20ac473 million, slightly higher than \u20ac455 million in 2021.<\/p>\n<p>Marketing expenses decreased slightly to \u20ac344 million, compared to \u20ac351 million in 2021. General and administrative expenditures also increased by \u20ac52 million, reaching \u20ac270 million.<\/p>\n<p>Total profit before taxation for the year amounted to \u20ac233.7 million, an increase of 3.4%. After \u20ac2.2 million in financial income, \u20ac0.92 million in financial expenses, and \u20ac65.7 million in depreciation and amortization, the year&#8217;s earnings before interest, taxes, depreciation, and amortization (EBITDA) reached \u20ac298.1 million, a decrease of 5.2%. <\/p>\n<p>A collection of additional expenditures, encompassing transaction charges, stock-based remuneration, and currency fluctuations on warrants and earn-out valuation, along with some income, resulted in an adjusted EBITDA of \u20ac199.2 million, representing a 31.1% decrease compared to the previous year.<\/p>\n<p>Following \u20ac2.6 million in unrealized foreign exchange, \u20ac7.7 million in non-recurring and non-current operational modifications, and \u20ac1.1 million in pre-acquisition losses, operating EBITDA reached \u20ac208.4 million, reflecting a 31.1% decline year-on-year.<\/p>\n<p>**Final Quarter**<\/p>\n<p>Revenue for the final quarter concluding on December 31 amounted to \u20ac329 million, exhibiting a 3.5% decrease from the corresponding period in 2021.<\/p>\n<p>Online casinos once again dominated revenue generation, achieving \u20ac209 million. Sports betting revenue stood at \u20ac113 million, while other revenue sources contributed \u20ac7 million.<\/p>\n<p>Direct costs for the quarter totaled \u20ac120 million, marking an increase of \u20ac2 million compared to the final quarter of 2021. Marketing expenditures also remained relatively stable, rising by \u20ac1 million to \u20ac95 million. Meanwhile, general and administrative expenses for the quarter reached \u20ac72 million, representing a substantial increase of 24.1%.<\/p>\n<p>Profit before tax amounted to \u20ac38.2 million, reflecting a 38.8% year-on-year decline. \u20ac1 million in financial income, \u20ac0.086 million in financial expenses, and \u20ac18.8 million in depreciation and amortization expenses brought EBITDA to \u20ac56.1 million, representing a 32.5% decrease.<\/p>\n<p>Various other costs significantly reduced the overall EBITDA. Notably, the \u20ac43.3 million change in fair value of earn-out liabilities impacted the total. However, \u20ac10.5 million in restricted stock unit expenses provided a positive contribution. <\/p>\n<p>Taking into account the profits and expenses, modified earnings before interest, taxes, depreciation, and amortization for the quarter amounted to \u20ac17.9 million, a reduction of 73.8% in comparison to the corresponding period in the previous year.<\/p>\n<p>After factoring in unrealized foreign currency fluctuations of \u20ac22.1 million, non-routine and non-ongoing operational modifications of \u20ac3.5 million, and pre-acquisition losses of \u20ac1.3 million, operational EBITDA for the quarter reached \u20ac42.3 million, a decrease of 39.1% compared to the equivalent period in the preceding year.<\/p>\n<p>Subscribe to the interactive gaming newsletter. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>## A Large Company&#8217;s Earnings and Profits Decrease in the Past Fiscal Year Betway&#8217;s parent&#8230;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Betway Parent Company Reports Earnings Decline<\/title>\n<meta name=\"description\" content=\"Betway\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/shazamcasinonodepositbonus.icu\/2024\/06\/28\/super-group-reports-decreased-earnings-and-profits-in-2022\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Super Group Reports Decreased Earnings and Profits in 2022\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Betway\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/shazamcasinonodepositbonus.icu\/2024\/06\/28\/super-group-reports-decreased-earnings-and-profits-in-2022\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Where Casino Lovers Find Their Thrills | Licensed &amp; 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