Super Group CEO Neal Menashe said record Q1 revenue of US$517m was fuelled by “outstanding sports betting margins” and “consistent casino margins,” as adjusted EBITDA rose 120 per cent.
Revenue for the Betway and Spin owner rose 25 per cent year-on-year from $412m in Q1 2024, while adjusted EBITDA climbed from $50.4m to $111m.
Outside of the US, revenue grew 24 per cent to $502m, with adjusted EBITDA rising 62 per cent to $121m.
Group revenue increases was driven by growth in Africa, Europe and North America – mainly Canada.
This was partially offset by declines in Latin America, the Middle East and Asia-Pacific.
“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,” Menashe said.
Online casino remained Super Group’s biggest segment in Q1, with revenues of $404m - $205m for Betway and $199m for Spin.
Betway’s sports betting revenues in the period were $106m.
Online casino revenue was up from $151m in Q1 2024 and sports betting revenue climbed from $79m.
Africa was the company’s strongest region, reporting revenue of $203m, up from $151m in Q1 2024.
Super Group chief financial officer Alinda van Wyk said the Q1 results have kept the business “on track to deliver on our annual guidance.”
“Our balance sheet remains strong with unrestricted cash of $351m, despite increasing the minimum dividend target and paying $95.7m, representing the 2024-year end and 2025 first quarter dividend. This brings the total dividends paid to $145.8m over the last 12 months."
