Super Group enters talks to acquire sportsbook tech in strategic shift

Super Group is in discussions with its long-term technology supplier Apricot over taking full ownership of its sportsbook in the future.

The move comes as Super Group looks to increase the resources dedicated to its tech stack, which is used in several markets the group operates in outside of Africa.

Super Group and Apricot have entered into initial discussions, which would see the operator purchase a copy of the underlying Apricot tech in the future therefore giving it full ownership.

The pair are also discussing a potential arrangement which would see Super Group become the exclusive licensee of the sportsbook tech.

Super Group noted this move would see the firm ramp up its spending and investment over the coming quarters, including a €43m loan handed to Apricot to cover “substantial resources” dedicated to its sports betting brand Betway.

Elsewhere, Super Group revealed it has acquired a majority stake in UK online casino firm Jumpman Gaming on 1 September.

Jumpman contributed around €7m and a positive EBITDA to Super Group’s Q3 results, which are set to announced on 22 November.

The firm also praised Jumpman as a catalyst for further growth in the UK, as well as international markets where it can expand using its proprietary tech.

Additionally, Super Group noted it was maintaining its financial expectations for 2022, with revenue to land between €1.15bn and €1.28bn, and adjusted EBITDA to fall between €200m and €215m.

Neal Menashe, Super Group CEO, said the acquisition of Jumpman Gaming and discussion over ownership of Super Group’s tech stack was key to the company’s future success.

He said: “We are taking steps to strengthen Super Group, simplify the capital structure, and better position the company for growth.

“In relation to discussions regarding our sportsbook, we are exploring with our long-term partner the potential benefits of ownership of the technology.”