Super Group sinks after plunging to loss

Super (SGHC)

25/05/2022 15:11

** Shares of online betting and casino co  SGHC.N  plummet
nearly 17% to $6.70 
    ** Stock touches lowest level since listing in January, when
it closed its merger with blank-check firm Sports Entertainment
Acquisition Corp
    ** Co reports Q1 loss of 163.2 mln euros ($174 mln) versus a
38.6 mln euros profit a year earlier  urn:newsml:reuters.com:*:nBw3xGVm7a
    ** Loss was driven by costs of listing its stock on the
public markets, co says
    ** Revenue rose 7% in the qtr even as headwinds in the
industry persist, SGHC adds
    ** YTD, co has lost nearly a fifth of its market cap
    
    
    ($1 = 0.9314 euros)

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))