Super Group Ends 2024 with Increased Revenue Forecast
Super Group, the parent company of Betway, has ended 2024 with an upgraded revenue and EBITDA outlook. The company has also declared a special dividend as a result of its strong financial performance and progress during the year.
Revenue and EBITDA Upgrades
Super Group has increased its 2024 revenue guidance from €1.55 billion to €1.6 billion ($2.04 billion). Ex-US adjusted EBITDA has been upgraded from $439.4 million to at least $458.5 million, reflecting the strength of the business outside of the US.
CEO Neal Menashe said: “I’m very proud of our performance this year and delighted we are in a position to raise our full-year revenue and ex-US Adjusted EBITDA guidance again while announcing another dividend for 2024.”
The Board has declared a special cash dividend of $0.19 per share payable on 8 January 2025. The company remains committed to paying quarterly dividends in 2025 subject to Board approval.
Global Optimisation
2024 was also the year of strategic change for Super Group. The company started to wind down its US sportsbook in July to improve profitability and operational efficiency in its global markets.
Also, Super Group sold Digital Gaming Corporation’s B2B assets to Games Global on 1 February 2024. This allowed the company to focus on its core brands, Betway and Spin, and consolidate resources to drive future growth.
Menashe emphasized the importance of returning value to shareholders, stating: “We have consistently said that we will consider returning excess cash to shareholders, and the outstanding performance of the business throughout 2024 alongside the continued strength of our balance sheet, has given us the platform to be able to do this.”
