Africa Archives - CasinoBeats https://casinobeats.com/world/africa/ The pulse of the global gaming industry Thu, 20 Feb 2025 15:34:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.1 https://casinobeats.com/wp-content/uploads/2025/01/cropped-favicon-32x32.png Africa Archives - CasinoBeats https://casinobeats.com/world/africa/ 32 32 James Everett, BetGames: Unlocking the potential of the African market http://casinobeats.com/2022/03/01/james-everett-betgames-unlocking-the-potential-of-the-african-market/ Tue, 01 Mar 2022 09:35:00 +0000 https://casinobeats.com/?p=62775 South Africa has been a strong market for BetGames, but there are many more opportunities across the African continent to explore. That was according to the company’s Africa Sales Director James Everett, who takes a dive into the untapped potential within the African casino market. Speaking to CasinoBeats, Everett talks us through the reasons why […]

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South Africa has been a strong market for BetGames, but there are many more opportunities across the African continent to explore. That was according to the company’s Africa Sales Director James Everett, who takes a dive into the untapped potential within the African casino market.

Speaking to CasinoBeats, Everett talks us through the reasons why online casino may surpass sports betting in the next two years before explaining how ‘unprecedented’ levels of tech adoption is fuelling new levels of growth.

CasinoBeats: Talk us through the evolution of online casino in Africa – as a regional expert, how have you seen the vertical evolve over the last decade? 

JE: In many ways for Africa, online casino is still a relatively new concept, this is primarily down to the rate at which the concept is being accepted and approved by regulators. Additionally, the development of infrastructure around web and mobile is further contributing to the delayed evolution of online casinos and gambling. 

However, according to Forbes – Africa is the fastest growing continent in the world, which we have noticed, especially in terms of the wider technological development. Africa is full of success stories and unlocked potential, something which we were able to anticipate before most in the iGaming industry, given our regional expertise.

Looking at the last 3-5 years, more and more game providers have entered the African market; taking advantage of the maturing infrastructure and increasingly educated population. Currently, mobile betting continues to be the biggest medium for players, with many operators focusing on mobile-first gaming providers, thus the online casino industry has rapidly adapted to produce games that are conducive to the demand. 

CB: Which regulated jurisdictions take the crown for the most traffic and popularity? Is South Africa the most dominant market? 

JE: I would say yes, South Africa maintains its dominance by still being the biggest in terms of gambling turnover. It’s no surprise that our growth throughout the region has been one of our major success stories. 

Although Nigeria is not far behind, it is second to only South Africa in terms of gambling turnover and is the biggest as far as traffic is concerned. Meanwhile, Ghana, Kenya, Tanzania and Ethiopia can be labelled as emerging jurisdictions, experiencing some growth in recent times. 

As we’ve launched with all major operators in South Africa, we’re actively looking at the aforementioned countries, as we feel they hold great and similar opportunities to South Africa, with the future certainly looking bright.

CB: Given the prevalence of more traditional SMS-based betting for sportsbook, how much of an issue has connectivity and mobile infrastructure been in online casino’s development? Is desktop the primary channel and how quickly are we seeing a shift to mobile?

JE: Over the past few years, the development of mobile infrastructure has been quite rapid, therefore, mobile betting is performing significantly better than desktop betting. This can be seen in the contrasting betting numbers that both platforms are producing. 

I believe it is largely indicative that the adoption of modern smartphones and their capability in being able to run games, has resulted in platform and game providers thinking differently about their goals and ambitions. After adapting to this ever-increasing demand, the ‘mobile lite’ concept in Africa has allowed the online casino and sports betting industry to grow at an extremely rapid rate, as it in effect offers a less-data heavy proposition, thus widening the appeal to players with less advanced technology on their hands.

CB: How much do player preferences differ from Europe? Are there any verticals that have proven particularly popular with African players?

JE: In Africa, the focus is still firmly on sports betting, as online casino is still a relatively new concept. However, the demand for online casino is rapidly increasing as mobile infrastructure becomes cheaper and more accessible on the continent, which holds the potential for exponential growth as adoption continues to widen.

Another fast-growing vertical appears to be virtual games, we all knew that virtuals would become a player favourite back in 2020, when the pandemic was at its peak and live betting needed a substitution. 

Two years on, the majority of African markets are still experiencing an upsurge in popularity, which contrasts greatly with is still supporting this vertical and it’s continuing to contrast other geographical markets where the majority of virtuals’ engagement was simply as a ‘filler’ during the gaps created by the pandemic. 

CB: Looking at the potential acquisition and retention of players, how much do online casino providers depend on cross-selling over from sportsbook? Can online casino ever be an acquisition tool in its own right?

JE: Online casino has quickly caught up with sports betting, therefore I wouldn’t necessarily say that providers need to cross-sell with sportsbooks for online casino to succeed, it holds plenty of its own appeal, and indeed a channel of acquisition in its own right. In many ways, online casino may even surpass sports betting within the next two years, as the concept passes approval with more regulators. 

There is no doubt that online casino has a significant amount of potential and is a great opportunity for operators to acquire and retain players. Moreover, with land-based casinos being well supported across the continent, there’s good reason to believe that the demand for online casino products will continue increasing given this familiarity. In many ways this makes sense, as players will be able to enjoy gaming in the comfort of their own home or perhaps on the go – with the mobile infrastructure in Africa continually advancing and enabling this preferred channel of entertainment.

CB: From your perspective, which markets hold the most potential for growth in the next decade? 

JE: South Africa has been a fantastic market for us; however, I can’t stress enough how Africa as a whole offers several growth opportunities – and I’m very confident in its potential. After all, it’s a huge continent that is full of eager players, who want to experience great iGaming products such as ours.

In my eyes, the markets that hold the most potential are Ghana, Kenya, Nigeria, Tanzania, Ethiopia, Cameroon, Congo, Zambia and Uganda. These are nine countries that would be great starting points for others looking to venture onto the continent.  

Of course, it’s important to note that whilst Africa’s technology and infrastructure is still slightly behind other more developed regions, this can change fast. The rate of tech adoption we’re seeing is unprecedented, and since the continent is quickly growing and developing in this area, it means that entering the region is a fantastic opportunity for brands looking to take advantage of one of the fastest-growing regions globally.

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Is Kenya set for an igaming tax hike?  https://casinobeats.com/2024/12/09/is-kenya-set-for-an-igaming-tax-hike/ Mon, 09 Dec 2024 13:50:00 +0000 https://casinobeats.com/?p=99156 There has been a key proposal in the Kenyan market by the Cabinet Secretary for National Treasury and Economic Planning, which outlined the potential economic benefits of increasing tax on betting in the region.  Changes arrive as the landscape for Africa grows increasingly competitive and a larger number of eyes are fixated upon the region […]

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There has been a key proposal in the Kenyan market by the Cabinet Secretary for National Treasury and Economic Planning, which outlined the potential economic benefits of increasing tax on betting in the region. 

Changes arrive as the landscape for Africa grows increasingly competitive and a larger number of eyes are fixated upon the region as one for potential expansion.

Specifically looking at the gaming sector, the plans outlined a potential rise from 12.5% to 15%, leading to a warning that these tax increases could have a negative impact on the prices for consumers. 

Furthermore, the industry has also raised the threat of growing the black market as a result of the proposals, which would have a tightening effect on the regulated market. 

Amplifying these concerns are other aspects of the bill, such as the potential to limit advertising from the gambling sector.

It comes amidst a backdrop of challenges for the gaming industry in Africa as concerns have been raised over the potential growth of gambling harms amongst African consumers. The ambition of bringing gambling harm numbers down is a priority for the government at this time. 

A change from 12.5% to 15% was also put forward for the lottery sector, whilst the same rise was proposed for the prize competition vertical. 

Importantly for the African market, it was also proposed that taxes on money transfer services could grow from 15% to 20%, further intensifying the pressure on the gambling operators in the area. 

A potential increase follows efforts from the government to mount pressure on gambling as the treasury in Kenya previously implied it would raise the taxes from the industry in its previous budget, earlier in the year. 

Previous proposals, however, had pitched the industry shift from 12.5% in taxes to 20%. These came in the middle of the year when the government cited protecting young people’s exposure as crucial. 

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888Bets takes next step in Africa with Malawi expansion https://casinobeats.com/2024/12/02/888bets-takes-next-step-in-africa-with-malawi-expansion/ Mon, 02 Dec 2024 11:00:00 +0000 https://casinobeats.com/?p=99012 888Bets has further strengthened its African footprint, landing expansion into Malawi. It builds on the operator’s growth across Africa already, with it having a base in Angola.  Expressing his excitement over the expansion, 888Africa Coo-Founder and CEO, Christopher Coyne, stated on LinkedIn: “(I am) Delighted to announce that 888Africa has now launched into our seventh […]

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888Bets has further strengthened its African footprint, landing expansion into Malawi.

It builds on the operator’s growth across Africa already, with it having a base in Angola. 

Expressing his excitement over the expansion, 888Africa Coo-Founder and CEO, Christopher Coyne, stated on LinkedIn: “(I am) Delighted to announce that 888Africa has now launched into our seventh African market with Malawi. We are live from today [Friday, November 29].

“I’m so proud of the work of the outstanding 888Africa teams, too many to mention in the run to get us live, but I will note Alex Rutherford [888Africa Chief Growth Officer] for his work on licensing, and I’ll mention also Andrew Lee [Chief Revenue Officer], Steven McIntosh [VP of Product] and Zeljka Perkovic for their massive contributions on the project side.”

The firm emphasised that the key to expansion and success in the region is not solely relying upon its sportsbook, but through its “commitment to becoming an important part of the community”, as well as “delivering the biggest jackpots and most exciting games to building meaningful connections with the amazing people of Malawi, we’re here to make a positive impact”.

It continues the evolution of the operators as it adapts to market challenges and trends to ensure the most successful outcome is found. 

Last year, the group acquired multinational African online bookmaker BetLion, in what was described as “A critical step” in its African expansion. 

888 launched 888Africa in March 2022, a joint venture led by former The Stars Group (TSG) CMO Coyne

On the BetLion takeover, Coyne remarked: “This acquisition is a critical step as we aim to create truly unique betting and gaming experiences for players across Africa. 

“The talent and technology at BetLion is perfectly suited to our growth model and ambitions, and will help to further strengthen our offering as we look to build market-leading positions across Africa. We also look forward to working with our new colleagues and introducing new customers to our local brands.”

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Flutter appoints new UKI CEO and expands International segment https://casinobeats.com/2024/11/19/flutter-uki-ceo-international-expansion/ Tue, 19 Nov 2024 09:44:10 +0000 https://casinobeats.com/?p=98677 Flutter Entertainment has announced significant changes to its organisational structure, as a new UK & Ireland (UKI) CEO has been appointed, while its International division has been expanded. The operator’s new international division, to be run by current International CEO Dan Taylor, will include five regions: UKI, Asia-Pacific (APAC), Southern Europe & Africa (SEA), Central […]

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Flutter Entertainment has announced significant changes to its organisational structure, as a new UK & Ireland (UKI) CEO has been appointed, while its International division has been expanded.

The operator’s new international division, to be run by current International CEO Dan Taylor, will include five regions: UKI, Asia-Pacific (APAC), Southern Europe & Africa (SEA), Central & Eastern Europe (CEE), and Brazil.

The International division will sit alongside Flutter’s business in the US, FanDuel, which is run by Amy Howe.

Due to these changes, PokerStars CEO Kevin Harrington has been announced as the new CEO of Flutter UKI, taking charge of its Sky Betting & Gaming, Paddy Power, Betfair, tombola and PokerStars brands.

“I’m incredibly proud to be given the chance to take over and run a business I first joined more than a decade ago,” commented Harrington.

“I want to continue the work that has made Flutter the clear market leader across the UK and Ireland and maintain the high standards we have set – with responsible gambling at the core of all our work.”

After joining Betfair in 2012, Harrington has been with PokerStars since September 2020, initially as Chief Commercial Officer before becoming CEO in August 2023.

He will now replace the current Flutter UKI CEO, Ian Brown, who is leaving the operator after two years to pursue his own career ambitions.

“The transformation over the last two years has been tremendously exciting,” stated Brown

“I am particularly proud that we have taken a share in a challenging market, investing in customer innovation and our people. Kevin has a deep knowledge of our business, and I am confident he will build on the strong momentum to take Flutter UKI to new heights.

“I would like to say a sincere thank you to Peter and the whole Flutter team for what has been one of the most rewarding experiences of my career.”

Peter Jackson, CEO of Flutter, added: “Ian’s time at Flutter has been enormously successful. He has transformed the UK & Ireland business on almost every metric and he will be a hard act to follow. 

“Kevin’s promotion is very well-deserved and the business will be in safe hands as we embark on the next phase of our growth plan.”

Earlier this month, Flutter posted its Q3 financial results, reporting an uptick in revenue and adjusted EBITDA. The group’s 2024 guidance was also raised by 1% across revenue and adjusted EBITDA, reflecting a strong Q3 group ex-US performance.

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Bally’s, BGC, Catena Media and Super Group: the week in numbers https://casinobeats.com/2024/11/11/ballys-bgc-super-group-numbers/ Mon, 11 Nov 2024 09:30:00 +0000 https://casinobeats.com/?p=98432 CasinoBeats is breaking down the numbers behind some of the industry’s biggest stories. Our latest headline reflection features a plethora of third-quarter financials from the likes of Bally’s and Catena Media, as well as a new codebook from the Betting and Gaming Council.  12% Bally’s Corporation’s Q3 figures were headlined by UK growth as online […]

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CasinoBeats is breaking down the numbers behind some of the industry’s biggest stories. Our latest headline reflection features a plethora of third-quarter financials from the likes of Bally’s and Catena Media, as well as a new codebook from the Betting and Gaming Council. 

12%

Bally’s Corporation’s Q3 figures were headlined by UK growth as online revenues in the nation rose by almost 12% across the quarter, compared to Q3 2023 comparatives. 

However, overall International Interactive revenue fell by over 5% YoY due to non-UK market performances.

Bally’s declared company-wide revenue of $630m, down slightly YoY (Q3 2023: $632.5m). Per vertical, gaming revenue in Q3 rose to $523.9m (2023: $508.9m) while non-gaming revenue decreased to $106.1m (2023: $123.6m).

International Interactive revenue dropped by 5.3% YoY to $230.9m (2023: $243.9m), as CEO Robeson Reeves mentioned that the 11.8% YoY growth in the UK was offset “in part by lingering weakness in other non-UK markets, with a particular emphasis on the ongoing logistical challenges impacting business in Asia”.

Reeves noted that UK growth was “driven by all-time high active customer levels and robust Average Revenue per User metrics along with growing traction for our online sports betting offerings which include a newly launched Bally’s-branded product that joins our initial Jackpotjoy offering”.

Adjusted EBITDAR for the segment rose to $90m, up 5.3% in comparison to the same period the previous year (2023: $85.5m). 

Reeves said: “Flow-through in our International Interactive segment remains very healthy as a result of diligent UK marketing spend, management of compensation expenses along with the continued realisation of synergies from our technology platform consolidation.”

33%

Catena Media suffered a revenue dip for the third quarter, decreasing by 33% to €10.7m, whilst revenue from North America dropped by 29% to €19.5m.

As well as this, there was also a slight dip in new depositing customers from continuing operations which totalled 27,342 (Q3 2023: 40,104), a decrease of 32%.

CEO Manuel Stan commented on the firm’s performance: “From a top-line perspective, Q3 was a challenging quarter in which we saw revenue decline by 33%, driven by continued underperformance in online sports betting. Lower revenue also reflected the ending of certain media partnerships and changes made to other partner agreements.

“The flipside was that these cost-side measures lifted the adjusted EBITDA margin from 1%in July to 18% in September and double adjusted EBITDA quarter-over-quarter. Alongside this bottom-line improvement, we also saw a like-for-like increase in North American Casino revenue and incremental gains in our key organic search rankings, despite higher-than-usual volatility due to Google’s core updates.”

Stan also went on to provide a positive outlook for the firm’s North American casino operations as he revealed that the drop in revenue from €8.6m to €7.6m was ‘primarily a reflection of casino revenue related to prior quarters. 

He continued by stating that ‘excluding this, casino revenue rose slightly during the period, maintaining the year-over-year trend observed in Q2’.

20%

The Betting and Gaming Council has published its first Code Handbook, which includes an aim to make at least 20% of slot machine top screen imagery dedicated to safer gambling messaging.

The measures, which have already been implemented across the sector, include a trio of codes that have become part of License Conditions and Codes of Practice (LCCP) for members.

At the heart of the casino sector’s new guidance is ensuring that safer gambling messaging and increased information is prevalent within the land-based casino environment. 

Amongst other strategies one aims to ensure that slot machine safer gambling messaging is boosted – ‘outside of game play, at least 20% of slot machine top screen imagery to be dedicated to safer gambling messaging, where game and machine functionality permits’. 

As well as this, one strategy bids for safer gambling messaging to appear on slot machine receipts (referred to as TITO), promoting safer gambling and advice on staying in control, including the National Helpline phone number. 

These measures will apply across the diverse membership of the BGC, including land-based operators like casinos, which are a pillar of the hospitality and tourism sector, bookmakers on hard-pressed high streets and online gaming operators.

Betting and Gaming Council CEO Grainne Hurst, commented: “I am delighted to announce this new Code Handbook, which comprises over five years of determined work to raise standards, across the board.

“It is also entirely fitting that we publish this landmark new Code Handbook on our fifth anniversary. The BGC was founded as the industry’s standards body, and this Handbook draws together our sector’s combined efforts, under the leadership of the BGC, to raise standards on safer gambling in the UK.”

€402.9m

Super Group reported a 13% YoY revenue increase to €402.9m (Q3 2023: €356.9m), its highest revenue recorded ever in the third quarter. In constant currency, revenue rose by 15% to €410.9m.

The operator group noted that the revenue growth was “driven by growth from the Africa, Europe and North America (predominantly Canada) markets partially offset by declines from the Middle East and Asia-Pacific markets”.

Per product, online casino revenue for the company stood at €330.2m at the end of Q3 (2023: €277.1m), sports betting was €67.1m (2023: €64.6m), brand licensing was €3.7m (2023: €8.3m) and other revenue was €1.9m (2023: €6.9m).

Betway revenue stood at €239.4m (2023: €206.4m) while Spin revenue was €163.5m (2023: €150.5m). Monthly active customers during the quarter increased by 17% YoY to 4.7 million (2023: four million).

Revenue per region segment, Africa and Middle East stood at €151.2m (2023: €100.1m), followed by North America with €144.8m (2023: €134.1m), Europe with €67.4m (2023: €54m), Asia-Pacific with €33.7m (2023: €62m) and South/Latin America with €5.8m (2023: €6.7m).

“We achieved our strongest third quarter ever, highlighting the phenomenal progress we are making as a business,” commented Menashe.

“There is still tremendous potential as we experience super growth across our global casino brands, and particularly in Africa which we have scaled to be our largest region for the second quarter running.”

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Rusa Javakhishvili: JetX, the online crash game that’s flying high in Africa  https://casinobeats.com/2024/11/07/rusa-javakhishvili-jetx-the-online-crash-game-thats-flying-high-in-africa/ Thu, 07 Nov 2024 09:45:01 +0000 https://casinobeats.com/?p=98380 In recent years, the online gaming landscape has witnessed a surge in innovative and engaging titles. Among these is JetX, the first ever flying crash game by SmartSoft, which is gaining substantial traction in Africa. Rusa Javakhishvili, Vice President Commercial of SmartSoft, provides an in-depth examination of this popular online crash game, and explores the […]

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In recent years, the online gaming landscape has witnessed a surge in innovative and engaging titles. Among these is JetX, the first ever flying crash game by SmartSoft, which is gaining substantial traction in Africa. Rusa Javakhishvili, Vice President Commercial of SmartSoft, provides an in-depth examination of this popular online crash game, and explores the expertise behind its creation. 

What was the general concept and inspiration behind JetX?

In recent years, the online gaming landscape has witnessed a surge in innovative and engaging titles that capture the interest of players worldwide. Among these, JetX has emerged as a standout game, particularly gaining substantial traction in Africa. 

The main concept of the game is that it is easy to play, the player is involved in the decision as much as possible, it is fast and within the fast-paced world we think that it delivers exactly what players need for an enjoyable experience.

How does JetX differentiate itself from other crash games in the market?

At SmartSoft, we appreciate  our relationships with partners, it’s  very important to us. We constantly think and work to create a valuable product and maintain strong connections with them. SmartSoft’s portfolio includes a diverse range of online casino games, each designed to offer unique features and interactive gameplay but JetX is the literal gem!

JetX is an online crash game that combines simplicity with excitement, offering players an engaging betting experience. This dynamic gameplay requires both luck and strategy, appealing to a broad audience seeking quick, high-stakes action. JetX stands out due to its user-friendly interface, real-time gameplay, and mobile compatibility, making it accessible and enjoyable for players on the go. Its growing popularity in Africa can be attributed to its exciting gameplay mechanics and the potential for significant winnings.

What strategies did you employ to ensure JetX appeals to a diverse audience, particularly in Africa?

When we expanded into the African market, we knew it’s a big and diverse region, so it’s important to understand each country individually instead of seeing it as one market. With our partners’ help, we’re working hard to learn about each country’s marketing practices and what types of games people enjoy. It’s a challenging task, but the African market is a top priority for us, and we’ve allocated resources to quickly build our knowledge in this area.

How has JetX been received by African players compared to other regions? Are there any notable differences in player behavior or preferences?

The African market is one of the most interesting and significant  for us, and we believe it has great potential. It is a highly dynamic and exciting market, where players are exposed to a wide variety of games. 

Their enthusiasm for diverse content gives us inspiration and motivation to create games specifically tailored to their unique preferences and needs. Moreover, they are quick to engage with new releases, eagerly embracing fresh content when it aligns with their tastes and expectations. Although crash products were introduced only recently, they have quickly become a favorite among consumers. We expect this trend to continue growing.

How do you assess player feedback and incorporate it into ongoing game improvements?

This is a crucial aspect for us. That’s why, in collaboration with our partners, we consistently review key feedback on our games and strive to incorporate it as much as possible into new versions. We strive to bring enjoyment in everything we do – whether it’s in our work environment, or for the end users. 

Our goal is to delight both the customers and ourselves with our work. Therefore, we integrate gaming’s fun elements into gambling to maximize enjoyment. This approach fuels our drive to innovate and create playful experiences, redefining the gambling industry and making it more entertaining;

What future developments or updates can players expect for JetX?

Our product has undergone numerous changes since its inception, with many more improvements planned. These changes are aimed at delivering the best possible user experience for players while ensuring the product remains of the highest technical quality.

How has the success of JetX influenced SmartSoft’s approach to game development?

JetX, the first crash game created in 2018, holds a special place as one of the company’s most beloved titles. Its global popularity is evident, and we’re thrilled that players enjoy it. At SmartSoft, having a diversified portfolio is crucial, which is why we release new games every year. As pioneers in the crash genre, we ensure that we continually expand our offerings. Our goal is to provide players with a wide range of high-quality games they can trust to deliver an enjoyable experience.

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Super Group reports ‘super growth’ across global casino brands in Q3 https://casinobeats.com/2024/11/06/super-group-q3-2024-financial-results/ Wed, 06 Nov 2024 16:02:42 +0000 https://casinobeats.com/?p=98369 Super Group has reported its highest ever third quarter revenue figure in Q3 2024, as the operator’s turnover surpassed €400m during the period and rose by more than 10% year-over-year. The parent company of Betway and Spin noted that the performance during the quarter was driven by growth in Africa, Europe and North America, while […]

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Super Group has reported its highest ever third quarter revenue figure in Q3 2024, as the operator’s turnover surpassed €400m during the period and rose by more than 10% year-over-year.

The parent company of Betway and Spin noted that the performance during the quarter was driven by growth in Africa, Europe and North America, while CEO Neal Menashe added that the group also achieved “super growth” across its global casino brands.

As a result of its performance throughout the year to date, Super Group is increasing its ex-US adjusted EBITDA full-year 2024 guidance to greater than €345m.

New Q3 revenue high

Publishing its Q3 results, the company reported a 13% YoY revenue increase to €402.9m (Q3 2023: €356.9m), its highest revenue recorded ever in the third quarter. In constant currency (cc), revenue rose by 15% to €410.9m.

Super Group noted that the revenue growth was “driven by growth from the Africa, Europe and North America (predominantly Canada) markets partially offset by declines from the Middle East and Asia-Pacific markets”.

Per product, online casino revenue for the company stood at €330.2m at the end of Q3 (2023: €277.1m), sports betting was €67.1m (2023: €64.6m), brand licensing was €3.7m (2023: €8.3m) and other revenue was €1.9m (2023: €6.9m).

Betway revenue stood at €239.4m (2023: €206.4m) while Spin revenue was €163.5m (2023: €150.5m). Monthly active customers during the quarter increased by 17% YoY to 4.7 million (2023: four million).

Revenue per region segment, Africa and Middle East stood at €151.2m (2023: €100.1m), followed by North America with €144.8m (2023: €134.1m), Europe with €67.4m (2023: €54m), Asia-Pacific with €33.7m (2023: €62m) and South/Latin America with €5.8m (2023: €6.7m).

“We achieved our strongest third quarter ever, highlighting the phenomenal progress we are making as a business,” commented Menashe.

“There is still tremendous potential as we experience super growth across our global casino brands, and particularly in Africa which we have scaled to be our largest region for the second quarter running.

“Given our continued strong performance and robust balance sheet, we are exploring ways to return excess cash to shareholders, and intend to discuss with the board a possible further special dividend before the end of the year.”

Regional market updates

Excluding US operations, overall revenue stood at €395m, up 15% YoY, 17% in cc, and by 24% when adjusting for the closure of operations in India. Sports betting revenue increased by 4% (4% cc) to €67m, while online casino revenue rose by 17% (20% cc) to €322m. 

Other revenue fell by 45% (43% cc) to €5m mainly due to a decrease in brand licence fees.

Betway had a 59% overall revenue share (2023: 56%) while Spin’s revenue share was 41% (2023: 44%). Online casino overall revenue share stood at 83% (2023: 81%) while online sports betting revenue share was 17% (2023: 19%).

Revenue share per region, Africa had a 39% share (2023: 29%), followed by the Americas with 36% (2023: 39%), Europe with 17% (2023: 16%) and RoW with 8% (2023: 16%).

Specifically in Africa, Super Group stated that it has a “strong competitive advantage across the continent” with a significant local presence and growth opportunities, operational in seven markets with “podium positions” in five of them.

As for the US, the company noted it has completed its exit from the US sportsbook market, which cost approximately €36m, which was €9m lower than its previous estimate of €45m.

Currently, Super Group is also continuing to assess its igaming strategy in the region, as it has planned operations of “two brands from the Spin portfolio (including Jackpot City) in both New Jersey and Pennsylvania”.

Actual Q3 adjusted EBITDA in the US stood at a loss of €11m, comprising a €10.5m loss for igaming and a €0.9m loss incurred during the sportsbook wind down.

Increasing ex-US adjusted EBITDA 2024 guidance

Profit in Q3 was €8.5m, down on Q3 2023’s €10.6m which “included a non-cash charge of €14.2m related to the change in fair value of option liability”. 

Adjusted EBITDA rose by 60% YoY to €83.9m (2023: €52.5m). Ex-US adjusted EBITDA increased by 52% to a third quarter record of €95m (2023: €62.8m) with a new margin high of 24%.

As of 30 September, cash and cash equivalents was €296.6m (2023: €241.9m).

Super Group also announced that it is increasing its ex-US adjusted EBITDA full-year 2024 guidance to greater than €345m.

CFO Alinda van Wyk stated: “This quarter was our best ex-US third quarter ever, achieving total revenue of €395m and adjusted EBITDA of €95m.

“We are focusing on consistent growth in our key markets, while striving to maximise operational and marketing cost efficiencies across the group, which resulted in a margin of 24% for the second quarter in a row – well ahead of our long-term target of 20%.

“Following the strong performance of the business over the first three quarters and an early look at a strong October, we are increasing our ex-US Adjusted EBITDA full-year 2024 guidance to be greater than €345m.”

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Nigeria intensifies industry protections with historic MoU  https://casinobeats.com/2024/10/28/nigeria-intensifies-industry-protections-with-historic-mou/ Mon, 28 Oct 2024 13:58:08 +0000 https://casinobeats.com/?p=98129 Nigeria has taken steps to significantly shift its gambling framework through a memorandum of understanding (MoU) with the UK.  The MoU was confirmed at the International Association of Gaming Regulators (IAGR) and International Masters of Gaming Law (IMGL) conference, which took place in Rome.  Central to the proposal is boosting protections for players in Nigeria, […]

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Nigeria has taken steps to significantly shift its gambling framework through a memorandum of understanding (MoU) with the UK. 

The MoU was confirmed at the International Association of Gaming Regulators (IAGR) and International Masters of Gaming Law (IMGL) conference, which took place in Rome. 

Central to the proposal is boosting protections for players in Nigeria, and tackling the surging black market that has come as a result of the increased internet accessibility in the country.

As a result of the MoU, Nigeria will increase how closely it works with partners to ensure that the country’s gambling framework is fit for purpose and adequate protections are in place 

Furthermore, the Lagos State Lotteries and Gaming Authority (LSLGA), Nigeria’s gaming regulatory body, Chief Executive Officer, will play a key role in continuing to govern the sector. 

The body’s CEO, Bashir Are gave a key speech during the conference in Rome, where he drew attention to the significant threat of the black market.

He stated: “Illegal online gambling is a global issue, with estimates suggesting that this unregulated market generates between $40bn and $50bn annually. These figures are approximate due to the difficulty in tracking and reporting activities in unregulated markets. In certain regions, the illegal gambling segment can account for up to 20-30% of the total online gambling market, making enforcement all the more critical.”

Key to the mission of the LSLGA is “to regulate, protect and promote gaming activities in Lagos State by leveraging on technological innovation and global best practices to make Lagos State a preferred gaming business destination in Africa.”

Tackling unlicensed operators has been a key focus for Nigerian authorities, the LSLGA last week, previously identified 43 operators that it suggests have been operating betting and gambling services without a licence.

In a recent interview with CasinoBeats, Dmitry Starostenkov, CEO, Evenbet examined the state of play in the region: “This particular case aligns with the findings we discovered in our recent e-book on 2023 trends in igaming. Regulation was cited as the number one pressing issue by 29% of companies that we interviewed, with 16% of respondents also highlighting it as a top trend for 2024. 

“Legislative frameworks for igaming in Africa are still evolving, and our report found that in such emerging markets, uncertainty around entry barriers, licence requirements, and acceptable business practices often exists. Companies will need to closely monitor developments and exercise caution when entering these complex, fluid regulatory environments across Africa.”

Ivo Doroteia, CEO of Playbook Engineering, added: “Grey markets and unlicensed operations aren’t just confined to Africa – they still maintain a place on the world stage. However, Africa unfortunately seems to be something of a hub for this at the moment and there needs to be a continent-wide clampdown. 

“The quicker unlicensed activity is identified and targeted, the sooner regulators can get to work providing the various markets in Africa with the building blocks required for it to be a region for suppliers and operators to keep a closer eye on, and ultimately to take with the seriousness the market potential merits.”

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888Africa taps into SIS numbers offering to boost engagement https://casinobeats.com/2024/10/22/888africa-elevates-engagement-with-sis-numbers-offering/ Tue, 22 Oct 2024 12:30:00 +0000 https://casinobeats.com/?p=97979 888Africa has moved to enhance its numbers offering through a new collaboration with SIS.  As a result of the integration, facilitated by a region-specific iframe developed alongside Bitville Gaming, will see the operator gain access to the full suite of live draws, including the original 49’s live draw, 39’s and Fast 15’s. Joe Andrews, Head […]

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888Africa has moved to enhance its numbers offering through a new collaboration with SIS. 

As a result of the integration, facilitated by a region-specific iframe developed alongside Bitville Gaming, will see the operator gain access to the full suite of live draws, including the original 49’s live draw, 39’s and Fast 15’s.

Joe Andrews, Head of Sales Africa at SIS, commented: “The appetite for live numbers draws in Africa has grown rapidly and partnering with 888AFRICA will significantly increase our product visibility. Bitville Gaming has great reach in the region, and we are thrilled that our partnership is already delivering the widest range of content to operators.”

Ian Marmion, Chief Operating Officer, at 888AFRICA continued: “Our ability to widen our offering to our partners is always important to us, and the portfolio of live numbers draws from SIS will provide a huge boost in maximising engagement. The content is a proven performer across Africa and I am sure our audiences will welcome this enhancement to our offering.”

The SIS-owned 49’s has enjoyed significant success in a myriad of markets, drawing engagement from a wide demographic of players. In a bid to complement this, 39’s and Fast 15’s offer high-frequency events that run every three minutes while maintaining healthy margins for operators.

Andrew von Hoesslin, CEO at Bitville Gaming, added: “The aim of our agreement with SIS was to provide a bigger operator network for its content and we are seeing this happen first-hand. We are sure that 888AFRICA and its players will be delighted with the influx of additional wagering opportunities.”

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Mojabet lauds Amusnet’s content amid Senegalese deal https://casinobeats.com/2024/10/17/mojabet-amusnet-content-senegalese-deal/ Thu, 17 Oct 2024 10:30:00 +0000 https://casinobeats.com/?p=97836 Mojabet has praised Amusnet’s “diverse” slot catalogue after agreeing to deliver the studio’s content to its players in Senegal.  In a move that will strengthen the Bulgarian slot developer’s impact across the African igaming market, Amusnet’s portfolio of proprietary content will become available on Mojabet’s online casino platform.  Hamed Rahimi, Regional Business Development Manager at […]

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Mojabet has praised Amusnet’s “diverse” slot catalogue after agreeing to deliver the studio’s content to its players in Senegal. 

In a move that will strengthen the Bulgarian slot developer’s impact across the African igaming market, Amusnet’s portfolio of proprietary content will become available on Mojabet’s online casino platform. 

Hamed Rahimi, Regional Business Development Manager at Amusnet, explained: “Teaming up with Mojabet provides us with an invaluable opportunity to dive into their deep knowledge of the local market dynamics. 

“Together, we can create unique gaming experiences that reflect the continent’s cultural diversity, making our top-notch offerings more accessible to local players.”

Senegalese online casino players with access to Mojabet’s service will be able to place bets on established Amusnet slots such as 20 Golden Coins, Candy Palace, Vampire Bites and Shining Crown following the partnership. 

“We are excited to kick off our partnership with Amusnet, offering Mojabet’s customers a diverse selection of games with chances to win the big jackpot prizes,” said Aris Filippopoulos, Head of Casino at Moja Group.

Amusnet has also made its recent releases available to the Senegalese operator, offering players the chance to spin the reels on new slots like Coin Gobbler and Beer O’meter. 

Coin Gobbler was the focus of a recent episode of Beyond the Reels, in which Plamen Slavov, Game Producer at Amusnet, discussed the making of the studio’s first-ever cluster-paying slot release. 

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