{"id":5993,"date":"2026-11-05T14:52:01","date_gmt":"2026-11-05T13:52:01","guid":{"rendered":"https:\/\/winsider.sk\/?p=5993"},"modified":"2026-11-05T14:52:01","modified_gmt":"2026-11-05T13:52:01","slug":"stavkujuci-vyhravali-a-majitel-betway-to-pocitil-kasino-zachranilo-stvrtrok-vyhlad-trzieb-vsak-isiel-nadol","status":"publish","type":"post","link":"https:\/\/winsider.sk\/index.php\/2026\/11\/05\/stavkujuci-vyhravali-a-majitel-betway-to-pocitil-kasino-zachranilo-stvrtrok-vyhlad-trzieb-vsak-isiel-nadol\/","title":{"rendered":"St\u00e1vkuj\u00faci vyhr\u00e1vali a majite\u013e Betway to poc\u00edtil. Kas\u00edno zachr\u00e1nilo \u0161tvr\u0165rok, v\u00fdh\u013ead tr\u017eieb v\u0161ak i\u0161iel nadol"},"content":{"rendered":"

Spolo\u010dnos\u0165 Super Group, ktorej patr\u00ed st\u00e1vkov\u00e1 zna\u010dka Betway, zv\u00fd\u0161ila v tre\u0165om \u0161tvr\u0165roku 2026 tr\u017eby medziro\u010dne o 10 percent na 611 mili\u00f3nov dol\u00e1rov a zisk z 96 na 142 mili\u00f3nov dol\u00e1rov. Upraven\u00e1 EBITDA, teda prev\u00e1dzkov\u00fd zisk pred \u00farokmi, da\u0148ami a odpismi o\u010disten\u00fd o jednorazov\u00e9 polo\u017eky, st\u00fapla o 8 percent na 165 mili\u00f3nov dol\u00e1rov. Firma napriek tomu upravila celoro\u010dn\u00fd v\u00fdh\u013ead tr\u017eieb na 2,525 a\u017e 2,575 miliardy dol\u00e1rov. Ako d\u00f4vod uviedla \u0161portov\u00e9 v\u00fdsledky, ktor\u00e9 boli priazniv\u00e9 pre z\u00e1kazn\u00edkov. In\u00fdmi slovami, st\u00e1vkuj\u00faci vyhr\u00e1vali \u010dastej\u0161ie, ne\u017e by si st\u00e1vkov\u00e1 kancel\u00e1ria \u017eelala.<\/p>\n

Tieto v\u00fdsledky ukazuj\u00fa dve veci. Kas\u00ednov\u00fd model, na ktorom Super Group stavia, dok\u00e1\u017ee vyrovna\u0165 v\u00fdkyvy, ktor\u00e9 prin\u00e1\u0161a \u0161port. Z\u00e1rove\u0148 v\u0161ak ani dobre rozlo\u017een\u00e9 portf\u00f3lio nezabr\u00e1ni tomu, aby smoln\u00e1 s\u00e9ria vo futbale \u010di inom \u0161porte zasiahla progn\u00f3zy pre cel\u00fd rok.<\/p>\n

Super Group je holding, ktor\u00e9mu patr\u00ed st\u00e1vkov\u00e1 zna\u010dka Betway. Na rozdiel od mnoh\u00fdch konkurentov, ktor\u00ed vyr\u00e1stli zo \u0161portov\u00fdch st\u00e1vok, m\u00e1 \u0165a\u017eisko v online kas\u00edne. To je vidie\u0165 aj na \u010d\u00edslach z tretieho \u0161tvr\u0165roka. V Afrike, kde Betway p\u00f4sob\u00ed takmer desa\u0165 rokov, priniesli online kas\u00ednov\u00e9 hry tr\u017eby 205 mili\u00f3nov dol\u00e1rov, zatia\u013e \u010do \u0161portov\u00e9 st\u00e1vky len 57 mili\u00f3nov. Na medzin\u00e1rodn\u00fdch trhoch je pomer e\u0161te v\u00fdraznej\u0161\u00ed, kas\u00edno tam vygenerovalo 310 mili\u00f3nov a \u0161portov\u00e9 st\u00e1vky 33 mili\u00f3nov dol\u00e1rov.<\/p>\n

\"Tr\u017eby<\/figure>\n

Africk\u00fd segment rastie najr\u00fdchlej\u0161ie. Jeho tr\u017eby st\u00fapli z 224 na 262 mili\u00f3nov dol\u00e1rov a tvoria u\u017e 43 percent pr\u00edjmov skupiny. Upraven\u00e1 EBITDA z africk\u00fdch trhov sa zv\u00fd\u0161ila zo 72 na 88 mili\u00f3nov dol\u00e1rov. Medzin\u00e1rodn\u00e1 \u010das\u0165, ktor\u00e1 zah\u0155\u0148a Ameriku, Eur\u00f3pu a zvy\u0161ok sveta, priniesla tr\u017eby 344 mili\u00f3nov dol\u00e1rov oproti 328 mili\u00f3nom pred rokom. Jej podiel na celku v\u0161ak klesol z 59 na 57 percent, \u010do potvrdzuje, \u017ee Afrika je pre firmu \u010doraz d\u00f4le\u017eitej\u0161ia. Amerika vygenerovala 193 mili\u00f3nov, Eur\u00f3pa 115 mili\u00f3nov a zvy\u0161ok sveta 36 mili\u00f3nov dol\u00e1rov, v\u0161etky regi\u00f3ny teda medziro\u010dne mierne r\u00e1stli. Upraven\u00e1 EBITDA medzin\u00e1rodn\u00e9ho segmentu st\u00fapla zo 75 na 93 mili\u00f3nov dol\u00e1rov.<\/p>\n

Pre\u010do kas\u00edno tlm\u00ed \u0161ok a st\u00e1vky nie<\/h2>\n

Na pochopenie, pre\u010do v\u00fdvoj na ihrisk\u00e1ch dok\u00e1\u017ee pohn\u00fa\u0165 progn\u00f3zami celej skupiny, treba vedie\u0165, ako st\u00e1vkov\u00e9 kancel\u00e1rie zar\u00e1baj\u00fa. Pri kas\u00ednov\u00fdch hr\u00e1ch m\u00e1 prev\u00e1dzkovate\u013e matematick\u00fa v\u00fdhodu zabudovan\u00fa priamo v pravidl\u00e1ch hry. Pri obrovskom po\u010dte hier sa v\u00fdsledok spo\u013eahlivo pribli\u017euje k o\u010dak\u00e1vanej mar\u017ei. Pri \u0161portov\u00fdch st\u00e1vkach je to inak. Kancel\u00e1ria s\u00edce stanovuje kurzy so ziskovou rezervou, no jej skuto\u010dn\u00e1 mar\u017ea z\u00e1vis\u00ed od toho, ako z\u00e1pasy dopadn\u00fa. Ke\u010f po\u010das obdobia vyhr\u00e1vaj\u00fa favoriti a vych\u00e1dzaj\u00fa kombinovan\u00e9 st\u00e1vky, na ktor\u00e9 be\u017en\u00ed hr\u00e1\u010di radi stavaj\u00fa, kancel\u00e1ria vyplat\u00ed viac, ne\u017e pl\u00e1novala, a jej pr\u00edjem zo st\u00e1vok klesne aj pri rovnakom objeme vkladov.<\/p>\n

Pr\u00e1ve to sa pod\u013ea Super Group stalo v tre\u0165om \u0161tvr\u0165roku. Na medzin\u00e1rodn\u00fdch trhoch tr\u017eby zo \u0161portov\u00fdch st\u00e1vok klesli z 36 na 33 mili\u00f3nov dol\u00e1rov, v Afrike sa zv\u00fd\u0161ili len symbolicky z 55 na 57 mili\u00f3nov. Kas\u00edno medzit\u00fdm r\u00e1stlo v oboch segmentoch dvojcifern\u00fdm, respekt\u00edve vysok\u00fdm jednocifern\u00fdm tempom. Gener\u00e1lny riadite\u013e Neal Menashe zd\u00f4raznil, \u017ee rast upravenej EBITDA pri\u0161iel napriek nepriazniv\u00fdm \u0161portov\u00fdm v\u00fdsledkom, preto\u017ee menej volatiln\u00e9 kas\u00edno kr\u00e1tkodob\u00fd \u0161ok vstrebalo. Finan\u010dn\u00e1 riadite\u013eka Alinda van Wyk uviedla, \u017ee upraven\u00fd v\u00fdh\u013ead odr\u00e1\u017ea pr\u00e1ve v\u00fdsledky priazniv\u00e9 pre z\u00e1kazn\u00edkov.<\/p>\n

Samotn\u00e1 korekcia nie je dramatick\u00e1. Firma teraz o\u010dak\u00e1va tr\u017eby 2,525 a\u017e 2,575 miliardy dol\u00e1rov. Ide o mierny pokles, k\u00fdm v\u00fdh\u013ead upravenej EBITDA v rozmedz\u00ed 700 a\u017e 720 mili\u00f3nov dol\u00e1rov zost\u00e1va v strede p\u00e1sma pribli\u017ene na \u00farovni po druhom \u0161tvr\u0165roku. Pre investorov je to d\u00f4le\u017eit\u00fd sign\u00e1l. Smola so \u0161portov\u00fdmi v\u00fdsledkami sa prejavila na tr\u017eb\u00e1ch, no ziskovos\u0165 ochr\u00e1nilo kas\u00edno.<\/p>\n

Celkov\u00fd obraz hospod\u00e1renia je siln\u00fd. Zisk za prv\u00fdch dev\u00e4\u0165 mesiacov dosiahol 350 mili\u00f3nov dol\u00e1rov. Firma sama upozor\u0148uje, \u017ee ho nemo\u017eno priamo porovn\u00e1va\u0165 so ziskom 218 mili\u00f3nov za cel\u00fd rok 2025. Zisk pred zdanen\u00edm za minul\u00fd rok v\u0161ak vyk\u00e1zala na \u00farovni 355 mili\u00f3nov dol\u00e1rov, tak\u017ee skupine k nemu ch\u00fdba u\u017e len p\u00e4\u0165 mili\u00f3nov a so \u0161tvrt\u00fdm \u0161tvr\u0165rokom ho zrejme prekon\u00e1. Po\u010det akt\u00edvnych z\u00e1kazn\u00edkov za mesiac st\u00fapol o 9 percent na 6 mili\u00f3nov.<\/p>\n

K 30. septembru mala skupina v hotovosti a jej ekvivalentoch 602 mili\u00f3nov dol\u00e1rov, oproti 513 mili\u00f3nom na konci minul\u00e9ho roka. Z prev\u00e1dzkovej \u010dinnosti jej pri\u0161lo 377 mili\u00f3nov dol\u00e1rov, na invest\u00edcie odi\u0161lo 67 mili\u00f3nov a na finan\u010dn\u00e9 aktivity 215 mili\u00f3nov. Kurzov\u00e9 pohyby jej ubrali 6 mili\u00f3nov dol\u00e1rov. Predstavenstvo 30. okt\u00f3bra schv\u00e1lilo sp\u00e4tn\u00fd odkup akci\u00ed do v\u00fd\u0161ky 150 mili\u00f3nov dol\u00e1rov, ktor\u00fd potrv\u00e1 do decembra 2027. Pod\u013ea Alindy van Wyk si firma pritom zachov\u00e1va dostatok priestoru na \u010fal\u0161ie invest\u00edcie do organick\u00e9ho rastu aj strategick\u00fdch pr\u00edle\u017eitost\u00ed.<\/p>\n

Sp\u00e4tn\u00fd odkup je klasick\u00fd sp\u00f4sob, ako mana\u017ement d\u00e1va najavo, \u017ee pova\u017euje akcie za podhodnoten\u00e9. Ot\u00e1zne zost\u00e1va, nako\u013eko je model postaven\u00fd na kas\u00edne udr\u017eate\u013en\u00fd z regula\u010dn\u00e9ho h\u013eadiska. Online kas\u00edno je v mnoh\u00fdch krajin\u00e1ch regulovan\u00e9 pr\u00edsnej\u0161ie ne\u017e \u0161portov\u00e9 st\u00e1vky alebo je \u00faplne zak\u00e1zan\u00e9 a regul\u00e1tori sa na\u0148 pozeraj\u00fa kritickej\u0161ie pre vy\u0161\u0161ie riziko probl\u00e9mov\u00e9ho hrania. Z\u00e1vislos\u0165 od Afriky zas znamen\u00e1 vystavenie menov\u00fdm v\u00fdkyvom, ktor\u00e9 sa u\u017e prejavili v strate na kurzoch.<\/p>\n

V najbli\u017e\u0161\u00edch mesiacoch bude rozhoduj\u00faci \u0161tvrt\u00fd \u0161tvr\u0165rok, ktor\u00fd pre st\u00e1vkov\u00e9 kancel\u00e1rie obvykle patr\u00ed k najsilnej\u0161\u00edm v\u010faka nabit\u00e9mu futbalov\u00e9mu kalend\u00e1ru. Ak sa mar\u017ea zo \u0161portov\u00fdch st\u00e1vok vr\u00e1ti k norm\u00e1lu, Super Group sa m\u00f4\u017ee dosta\u0165 k hornej hranici v\u00fdh\u013eadu. \u010eal\u0161ia s\u00e9ria v\u00fdsledkov priazniv\u00fdch pre hr\u00e1\u010dov by ju naopak stla\u010dila k spodnej hranici. Investori bud\u00fa sledova\u0165 aj tempo rastu v Afrike a to, \u010di sa medzin\u00e1rodn\u00e9mu segmentu podar\u00ed premeni\u0165 zlep\u0161enia v produkte, cenotvorbe a technol\u00f3gi\u00e1ch, ktor\u00e9 Menashe vyzdvihol, na r\u00fdchlej\u0161\u00ed rast. Pr\u00edpad Super Group je zatia\u013e dobrou uk\u00e1\u017ekou toho, pre\u010do ve\u013ek\u00e9 skupiny z\u00e1merne rozkladaj\u00fa pr\u00edjmy medzi kas\u00edno a \u0161port. Ani ten najlep\u0161\u00ed model rizika toti\u017e nepredpovie, kto vyhr\u00e1 v sobotu ve\u010der.<\/p>\n","protected":false},"excerpt":{"rendered":"

Super Group zv\u00fd\u0161il v tre\u0165om \u0161tvr\u0165roku tr\u017eby o 10 percent na 611 mili\u00f3nov dol\u00e1rov a zisk na 142 mili\u00f3nov. \u0160portov\u00e9 v\u00fdsledky priazniv\u00e9 pre hr\u00e1\u010dov ho v\u0161ak prin\u00fatili upravi\u0165 celoro\u010dn\u00fd v\u00fdh\u013ead.<\/p>\n","protected":false},"author":6,"featured_media":5992,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[34],"tags":[352,351,350,120,104,226],"class_list":["post-5993","post","type-post","status-publish","format-standard","has-post-thumbnail","category-biznis","tag-afrika","tag-betway","tag-hospodarske-vysledky","tag-online-kasino","tag-sportove-stavky","tag-super-group"],"yoast_head":"\nSt\u00e1vkuj\u00faci vyhr\u00e1vali a majite\u013e Betway to poc\u00edtil. 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