Super Group Reports $517M Revenue in Q1 2025
Super Group has reported a 25% increase in revenue for the first quarter of 2025, reaching $516.8 million. The company also posted $59.4 million in profit and $111.1 million in adjusted EBITDA, despite continued investment in its U.S. operations.
Growth Led by Africa, Europe and North America
The company’s first-quarter revenue growth was driven by its performance in Africa, Europe, and North America, particularly Canada. These gains were partially offset by weaker results in LATAM, the Middle East, and Asia-Pacific.
Profit for the quarter amounted to $59.4 million, compared to $44.6 million in the same period of 2024. Last year’s figure included a one-time gain from the sale of a B2B division and a non-cash charge related to option valuation.
Adjusted EBITDA rose to $111.1 million, up 120% year-on-year. Excluding U.S. operations, which posted a $9.8 million loss, Adjusted EBITDA reached $121 million. Monthly active customers increased by 14% to 5.3 million. Neal Menashe, CEO of Super Group, said:
“We started 2025 on a high note, delivering a strong first quarter with impressive revenue growth, a surge in customer acquisition, and effective retention strategies. The Group’s combined revenue reached a record $517 million for a first quarter, representing a 25% year-over-year increase, fueled by outstanding sports betting margins and consistent casino margins, as well as our ongoing efforts to optimize return on investment across all markets.”
Change in Reporting Currency
Effective January 1, 2025, the company changed its presentation currency from euros to U.S. dollars. The shift aims to enhance comparability with U.S.-listed competitors and offer more relevant information to investors.
As of March 31, 2025, the company held $351.0 million in unrestricted cash, compared to $388.0 million at the end of 2024. Super Group paid out $95.7 million in dividends during the quarter—$75.5 million for year-end 2024 and $20.2 million declared in Q1 2025. CFO Alinda van Wyk, said:
“Along with record first-quarter revenue growth, Group Adjusted EBITDA increased by 120% to $111 million. Total Revenue ex-U.S. grew 24% to $502 million, with Adjusted EBITDA ex-U.S. growing 62% to $121 million, keeping us on track to deliver on our annual guidance. Our Balance Sheet remains strong with unrestricted cash of $351 million, despite increasing the minimum dividend target and paying $95.7 million, representing the 2024-year end and 2025 first quarter dividend. This brings the total dividends paid to $145.8 million over the last 12 months.”
Guidance for Full Year Unchanged
Super Group has reaffirmed its guidance for 2025, projecting revenue of over $2.014 billion and Adjusted EBITDA exceeding $421 million. These figures were calculated using the Q1 2025 average exchange rate of 1.052 USD to EUR.