great groupthe parent company of Betway and multi-brand online casino Spin, announced on Tuesday that it has completed the acquisition of Digital Gaming Corporation Limitedan online sports betting and iGaming company with market access in up to 12 US states, eight of which are active today
The acquisition enables Super Group’s entry into the US market, “further strengthening its global footprint”, the company said. DGC is present in Iowa, Pennsylvania, New Jersey, Arizona, Colorado, Indiana, Virginia and Ohio, all using the Betway brand, which it licenses exclusively to Super Group. During the first quarter of 2023, DGC plans to move to Louisiana, joining Arizona, Virginia and Ohio on the Betway Global technology platform.
Neal Menashe, CEO of Super Group, commented, “We are delighted to officially welcome DGC to Super Group. We look forward to working more closely with the team as we apply our proven toolbox in the United States. With a healthy balance sheet and a consistent track record of profitable growth, Super Group is well positioned to enter the US market, further strengthening our global footprint. .”
DGC launched the Betway brand in Ohio on Sunday, through a partnership with Boyd Gaming-owned Belterra Park, as the state of Buckeye became the latest in the United States to open a regulated sports betting market. Betway is also an official partner of the Cleveland Cavaliers of the NBA.
“We are thrilled to be live in the great state of Ohio and reach sports fans across the state,” said DGC Executive Vice President Bruce Watermeyer.. “This is an important milestone for us as we continue to expand our best offerings to our customers across the United States.
In November, Super Group released its third quarter financial results. Turnover for the period amounted to 307.8 million euros ($319 million), down 2% over the same period of the previous year; while profit after tax was €34.9 million ($36.2 million), down from a profit of €50.5 million ($52.3 million) in the third quarter of 2021.
Parent company Betway and Spin attributed lower third-quarter revenue to lower online casino net revenue and brand licensing fee revenue, which was partially offset by an increase in net sports betting revenue. As for the EBITDA for the quarter, it amounted to 60.9 million euros (63.2 million dollars), down from 75.9 million euros for the same period of the year. former.