Super Group Raises Financial Outlook Following Strong 2024 Performance
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Super Group has increased its 2024 financial guidance, citing exceptional performance across its brands, including Betway and Spin. The company has raised its full-year revenue forecast to $1.68 billion USD ($2.40 billion CAD), up from $1.63 billion USD ($2.31 billion CAD), while also significantly raising its EBITDA expectations to at least $380.1 million USD ($538.2 million CAD), compared to the previous estimate of $364.3 million USD ($515.9 million CAD).
This update comes after the company’s strategic withdrawal of Betway from the U.S. sports betting market. To reward shareholders, Super Group’s board has declared a special cash dividend to be paid in January 2025.
CEO Neal Menashe expressed pride in the company's performance, noting that strong results in Canada, Europe, and Africa helped achieve a 13% year-on-year revenue increase. Additionally, Richard Hasson, the company’s president, will step down in 2025 after 13 years of service. Super Group’s market share in Ontario has risen to 7%, from 4% last year.