Tag: Betway

Super Group approves $25m share repurchase

Betway parent company Super Group announced that its board of directors has approved a $25m (£20.5m/€23.2m) share repurchase scheme.

Super Group said the scheme is set to run until 31 December 2023, though the board reserved the right to extend or shorten the timeframe at their discretion.

The operator also emphasised that the announcement did not legally bind it in any way – noting that Super Group was “not obligated” to repurchase any shares, and that repurchases if any would be made from time to time on the open market at prevailing prices or “in negotiated transactions off the market”.

“Our debt-free balance sheet is strong and we actively consider using cash to drive long-term shareholder value through investment and through returning cash to shareholders,” said CFO Alinda van Wyk. “We believe a modest share repurchase programme is an efficient potential use of cash depending on market circumstances.”

The share repurchase scheme happens after a fraught Q3, in which declines in..

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Betway fined £400,000 for marketing on “children’s webpages”

Online gaming operator Betway has been fined £408,915 ($463,178/ €467,776) by the Gambling Commission for marketing on “children’s webpages”.

The regulator determined that the Super Group-owned brand was marketing on the children’s pages of the West Ham United Football Club’s website, breaching Commission rules on socially responsible advertising.

The Commission said that the operator’s logo – which linked to its website – appeared on a page on the West Ham site which offered the option of printing off a picture of a teddy bear for children to colour in. It was visible on this page between 14 April 2020 and 6 November 2021.

Additionally, between 24 October 2021 and 15 November 2021, a similar logo that linked to Betway’s homepage was featured on the “Young Hammers at Home” page of the club’s site.

GC director of enforcement, Leanne Oxley, said the regulator had no reason to believe Betway was targeting children deliberately, but that the rule breach was still serious.

“Protecting ..

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