BTIG starts coverage on online betting firm SGHC with 'buy' rating

Super (SGHC)

28/03/2025 13:07

** Brokerage BTIG starts coverage on online betting and casino firm SGHC SGHC.N with "buy" rating and $9 PT, a 33.5% upside to stock's last close

** Says about 30% of co's revenue from regulating markets may face a 10-30% short-term decline, but the company has shown it can recover, as seen in Ontario where revenue rebounded to pre-regulation levels within 21 months

** Expects co to drive growth through the expansion of its U.S. iGaming offerings and its focus on key territories including Africa, Canada and New Zealand

** Co poised to capture around 8% of 25 billion euros plus online betting market, with financial projections exceeding current estimates - brokerage

** Stock more than doubled in the last 12 months, as of last close

 (Reporting by Kamal Choudhury in Bengaluru)

 ((Kamal.Choudhury@thomsonreuters.com;))