June 23, 2022
Today, "Super Group", which is traded on the NYSE under the symbol SGHC, gained licenses from the AGCO to operate four legal Ontario Interac online casinos: Spin Casino, JackpotCity, Ruby Fortune and Royal Vegas. These brands will be operated in Ontario under the company called "Cadtree Limited".
While two of these brands, "Spin Casino" and "JackpotCity Casino" made significant media buys for their free-to-play, dot-net websites in order to gain brand recognition in Canada from the so called "grey market", the parent company, Super Group, is best known for their Betway brand. Betway is highly visible around the world through marketing partnerships with professional sports clubs in the NBA, NHL, Premier League, La Liga and many other sporting properties. As an operator, Betway is regulated in numerous European jurisdictions, several US states, as well as the province of Ontario itself, though it also serves Canada's other provinces from their international betting site and online casino based in Malta.
However, despite the importance of the Betway brand in all these markets, including as one of the most significant legal Ontario betting sites by client numbers, arguably, Super Group's casino-only "Spin" brands segment as operated within Canada from the Kahnawake jurisdiction, is the most important revenue segment to the company. This casino-only brands segment in Canada, has brought more revenue to the company than any Betway revenue segment by geography.
Super Group does not organise their financial results by nation, but rather by regional segments. Canada fits into the company's "North America" geography segment. Within this North American segment, their "Spin" brands essentially only operate in Canada. As this screen shot of their recent earnings results shows, the "Spin" casino brands segment in Canada is the most significant segment of revenue for their overall business, when broken down by brand and geography.
Given these figures, moving "Spin" casino brands into the regulated and taxed market will be a huge boon to iGaming Ontario platform. 20% of future revenue must be shared with the province and the large number of Spin's Ontario-based players will get the benefit of Ontario's Responsible Gambling mandates and harm reduction tools.
Return to SNBET's Canada sports betting news page.
This morning, significant online casino brands in 🇨🇦 received their Ontario #iGaming licenses from the AGCO.— SNBET (@SNBET_ca) June 23, 2022
These are $SGHC brands: Spin Casino, Ruby Fortune, Jackpot City & Royal Vegas.
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