Betway Goes Live in Ontario, As Parent Company Seeks Growth
The same week that Betway online sportsbook and internet casino went live in Ontario, its parent company, Super Group, expressed optimism about the future.
Super Group’s number of monthly average customers for the second quarter of 2022 went up by 3% compared to the previous year’s second quarter. The number went from 2.6 million customers in the second quarter of 2021 to 2.7 million this year.
However, Super Group’s revenue decreased by 10% for the second quarter of 2022, from $465.7 million CAD in last year’s second quarter to $420.6 million CAD this year.
The company attributed this decline in part to the impact of inflation on disposable income.
The revenue results were outlined in an earnings review on Wednesday.
Expanding Global Business
Super Group CEO Neal Menashe said despite “near term headwinds” the company’s balance sheet is strong and the business is fundamentally sound.
“By investing in our global business, we continue to focus on organic and strategic growth opportunities in pursuit of long-term sustainable profits,” he said.
Alinda van Wyk, Super Group's CFO, said the company is “profitable and debt-free.”
Super Group is based in Guernsey, an island off the coast of Normandy.
NHL, NBA Partnerships
Super Group’s holdings include its online sports betting brand, Betway, and a multi-brand online casino, Spin.
On Monday, Betway went live in Ontario with its online sportsbook and internet casino, directing Canadian customers to the new betway.ca website instead of Betway.com.
Betway’s visibility in Canada includes its partnership with the NHL.
Betway also has partnered with three of the league’s U.S. teams, the New York Islanders, Philadelphia Flyers and New Jersey Devils.
In addition, Betway's partnerships include an affiliation with eight NBA teams.
These teams are the Los Angeles Clippers, Golden State Warriors, Dallas Mavericks, Chicago Bulls, Cleveland Cavaliers, Milwaukee Bucks. Minnesota Timberwolves and Miami Heat.
