Super Group's Betway brand has garnered widespread recognition through its extensive portfolio of international sports sponsorships. According to CEO Neal Menashe, these partnerships represent a cost-effective strategy for establishing a globally significant business.
This year, Super Group celebrates two milestones: the 10th anniversary of Betway's sponsorship deals with the Cheltenham Festival Champion Chase and the Premier League club West Ham United. The conclusion of sponsorship agreements in the English top flight will impact the partnership with West Ham, highlighting the rarity of such long-term relationships. Currently, only three Premier League teams—Liverpool, Manchester City, and Arsenal—have retained sponsors for a longer duration.
"I vividly recall the excitement that reverberated throughout the company when we initially secured deals with Cheltenham and West Ham United," reminisces Super Group chairman Neal Menashe. "Despite nearly a decade passing since then, that same sense of excitement has endured throughout our journey in running this business."
Betway's sponsorship portfolio in the gambling sector has expanded significantly, encompassing over 60 partners, including NBA's Chicago Bulls, Premier League's Arsenal, and NHL's New Jersey Devils. Menashe asserts that these sponsorships yield an "enviable" level of brand awareness, allowing for the distribution of sponsorship costs across various global markets. He estimates that the Betway brand is featured in some capacity in nearly 60% of all Premier League matches broadcast.
"Our business objective is to translate brand visibility into meaningful customer engagement. Ultimately, in this industry, effective marketing boils down to striking a balance between your marketing budget and returns in Net Gaming Revenue (NGR)," explains Menashe.
"While we won't allocate 100% of our marketing budget to sports sponsorships, they are indispensable in terms of fostering brand awareness," he concludes.
Converting Views into Engagement: The Result of a Strong Team
Richard Hasson, Super Group's Chief Commercial Officer since 2012, emphasizes the importance of leveraging spectator engagement in sports to cultivate loyal customers. With a revenue of €1.4 billion in 2023 and an 8% growth compared to the previous year, the company's performance suggests that its strategy is on the right track.
Menashe attributes this success to various factors, with the Super Group team being paramount among them. "We are inherently competitive individuals who approach each day with unwavering energy, dedicated to tackling the next challenge," he praises his colleagues.
"We are fortunate to have an exceptional team that genuinely cares about our clients. In our line of work, achieving effective customer experiences requires total immersion—we live and breathe our work 24/7," Menashe adds.
The longevity of the team members contributes significantly to their effectiveness, with experienced and committed leaders setting the tone. Menashe himself has been with Super Group since its early days, following Betway Group's acquisition of his CRM marketing business and Win Technologies technology business in 2011.
The management team, including President and Chief Commercial Officer Richard Hasson (since 2012) and Chief Financial Officer Alinda van Wijk (since 2007), further exemplifies the company's commitment to continuity and expertise.
"The key challenge in any CEO role is making tough decisions," Menashe reflects. "Indecisiveness is the enemy of leadership! With over 20 years in the industry, we've encountered and overcome every obstacle imaginable."
Rather than breeding complacency, this extensive experience fuels the team's drive to succeed. "Experience has only heightened our team's determination to win," Menashe concludes, underlining the relentless pursuit of excellence ingrained within the Super Group's culture.
Africa Emerges as Super Group's Key Region
With a global competitive landscape, maintaining a winning mentality is imperative for Super Group. While the company operates in numerous markets worldwide, its Africa and Middle East segments have notably shone in the third quarter. Despite significant success in North America during the first nine months of 2023, Africa and the Middle East surpassed even the United States in revenue, reaching €298.3 million.
"Africa's momentum continues to build," affirms Menashe. "We currently operate in seven regulated countries, with a robust pipeline of new opportunities."
While the revenue breakdown by region for the fiscal year 2023 is pending, Menashe anticipates setting new records for customer numbers, deposits, and net gaming revenue in Africa. Although many markets across the continent are burgeoning, the gambling industry in Africa remains in its nascent stages.
"The growth potential is immense in every market, spanning sportsbooks and casinos alike," Menashe elaborates. "We identified this opportunity years ago and strategically established our presence in key markets, assembling dedicated teams to spearhead our efforts."
With Africa witnessing rapid population growth and economic advancement, there exists a substantial opportunity to expand both market reach and market share. Menashe predicts sustained growth for many years to come.
"We prioritize customer feedback and ensure our products align with their preferences," Menashe emphasizes. "Our experienced local teams impart specialized knowledge to our product teams, fostering innovation and maintaining our position as market leaders."
Could the African model serve as a blueprint for the gambling industry in Latin America?
Reflecting on Super Group's performance in 2023, Menashe draws parallels between Africa and the burgeoning regulated market of Latin America—an area of small but robust growth for the company.
"We've established a strong presence in Latin America over the years," Super Group officials informed analysts. "We anticipate navigating the regulatory landscape in each country—be it Chile, Brazil, or Peru. This market holds significant importance for us, and the software infrastructure we utilize mirrors that of Africa. With these synergies in play, we're optimistic about our prospects," concludes Menashe.
