Super Group, the parent company of online gaming brands Betway and Spin, reported record-breaking fourth-quarter revenue of €500 million ($524.1 million), marking a 39% increase from the same period last year. The company also raised its annual dividend target for 2025 as it shifts its focus to key growth markets.
Super Group’s full-year 2024 revenue reached €1.7 billion ($1.78 billion), an 18% increase from 2023. Profit before tax for the year rose to €188.8 million, with €96.8 million generated in the fourth quarter. Monthly average customers grew by 20% year-over-year to 4.8 million.
Most revenue came from online casino at 80%, while a 20% share belonged to sports betting. The Betway owner recorded monthly average customers of 4.8 million in 2024, up 20% year-on-year.
“The company made phenomenal progress in 2024, and we are proud of our strong finish to the year and the record-setting performance across the business,” said CEO Neal Menashe. “We believe that Super Group is in an excellent position to build on last year’s success, and we look forward to another year of solid growth.”
Super Group announced an increase in its minimum quarterly dividend target to 4.0 cents per share, up from 2.5 cents, bringing the annual dividend to at least 16.0 cents per share in 2025. The first dividend of the year is scheduled for March 28, 2025.
Looking ahead, the company expects double-digit growth across both total revenue and Adjusted EBITDA in 2025. Excluding U.S. operations, Super Group projects total revenue exceeding €1.83 billion and Adjusted EBITDA surpassing €435 million. Including U.S. operations, total revenue is forecast at over €1.915 billion, with Adjusted EBITDA expected to exceed €400 million.
Super Group exited the U.S. sports betting market in July 2024, incurring a one-time cost of €32.7 million. However, the company is retaining its iGaming operations in New Jersey and Pennsylvania and plans to expand its Spin portfolio in these markets.
CFO Alinda van Wyk noted that U.S. investment for 2024 totaled €61 million but is expected to decline significantly in 2025 as the company shifts its focus to core markets in Africa, Europe, Canada, and New Zealand.
“We achieved our best results to date, delivering full-year ex-U.S. revenue of €1.663 billion and ex-U.S. Adjusted EBITDA of €391 million,” said van Wyk. “We are pleased to see continued momentum into 2025 and anticipate another year of double-digit growth across both Total Revenue and Adjusted EBITDA.”
Original article: https://www.yogonet.com/international/news/2025/02/27/96535-super-group-posts-record-q4-revenue-of-524-million-amid-strategic-shift-to-key-growth-markets
