SuperGroup hits record in Q2
After its exit from the US market, SuperGroup revenues reached a record of €414.7m in Q2. When announcing their exit in July, the company expected some costs and...
Super Group hits a record in Q3 with €402.9 million
Super Group, a parent company of Betway and Spin, shared its Q3 revenues, highlighting the record of €402.9 million, which is more than 12% when compared to Q3 2023.
The biggest contribution to this growth is from Betway’s African operations, which rose by 51.1% with €150.2 million in revenues. Europe and Canada also have their part in the total revenues; however, the Middle East and Asia-Pacific regions remain behind with their operation revenues.
CEO Neal Menashe commented:
“We achieved our strongest third quarter ever, highlighting the phenomenal progress we are making as a business. There is still tremendous potential as we experience super growth across our global casino brands, and particularly in Africa, which we have scaled to be our largest region for the second quarter running.”
Super Group’s Q3 EBITDA results
Q3 also saw an increase of 59.8% in EBITDA, reaching €89.9 million, from €52.5 million recorded in Q3 2023.
CFO Alinda van Wyk said:
“This quarter was our best ex-US third quarter ever, achieving total revenue of €395m and adjusted EBITDA of €95m. We are focusing on consistent growth in our key markets while striving to maximise operational and marketing cost efficiencies across the group, which resulted in a margin of 24% for the second quarter in a row—well ahead of our long-term target of 20%.”
Net profit for Q3 was €8.5 million, a decline from 2023’s Q3 revenues of €10.6 million. Monthly active user numbers also rose by 17%, growing the user base to 4.7 million users.
Super Group Exits U.S. Sports Betting Market
Super Group, the company behind gaming brands Betway and Spin, revealed on Wednesday that it will withdraw from the U.S. sports betting market after conducting a thorough...
