Super Group Plans Three New Zealand Licences Following Q2 Growth
Highlights:
- Super Group says it will make bids for three of New Zealand’s 15 online gambling licences.
- The company’s revenue in New Zealand rose by 14% year-on-year in Q2. This growth contributed to Super Group raising its full-year guidance.
The growth helped to boost Super Group’s Rest-of-World revenue by 6%. CFO Alinda Van Wyk said the company will likely apply for three of the 15 licences available in the upcoming licensing process.
New Zealand started its expression-of-interest period in July. This is ahead of the planned launch of its regulated online gambling market in 2027. There will be a total of 15 licences available to operators. They must show access to NZ$7.5 million in capital.
Super Group also saw increased activity in the UK market in the quarter. The company combines UK revenue with its European reporting. European revenue rose 19% year-on-year to $132 million. Super Group has increased its market share in the UK since the Remote Gaming Duty rate went up in April, according to CEO Neal Menashe.
The company has been improving its online casino platform. It recently completed a project that centralised its technology and product platform management. Marketing efficiencies and product improvements helped the casino cross-sell to half of new sports customers during the World Cup.
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