Super Group has reported a strong start to 2025, posting first-quarter — a 25 percent increase compared to the same period last year. The company, which owns Betway and Spin, credited the growth to higher sportsbook margins and stable online casino revenue.
Net profit for the quarter reached $59.4 million, rising from $44.6 million in Q1 2024. That previous quarter had included a one-off gain of $43.6 million from the sale of the group’s B2B division.
Product performance
Online casino continued to be the main revenue driver for Super Group, generating $404 million, up 25 percent year-on-year. Sports betting revenue grew even faster, increasing 34 percent to $106 million. This performance was supported by strong margins and consistent customer activity.
Monthly active customers grew 14 percent to 5.3 million during the quarter. The company attributed the rise to effective customer retention and acquisition strategies.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) rose sharply, more than doubling by 120 percent to $111.1 million, reflecting improved operational efficiency and increased scale.
Chief Executive Officer of Super Group, Neal Menashe, 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 percent year-over-year increase, fuelled by outstanding sports betting margins and consistent casino margins, as well as our ongoing efforts to optimise return on investment across all markets.”
Regional growth highlights
Africa and the Middle East remained the largest market for Super Group, contributing $203 million in revenue during the quarter. North America followed closely with $181 million, driven largely by strong results in Canada.
European operations saw significant growth, with revenue rising 52 percent year-on-year to $96 million. However, Latin America saw a decline, with revenue falling 29 percent to $5 million for the quarter.
Currency shift and cash position
Effective 1 January 2025, Super Group began reporting its financials in US dollars instead of Euros. The company said this change would improve clarity and alignment with its market presence.
Despite the positive results, Super Group’s cash and cash equivalents dropped to $351 million by 31 March, compared to $388 million at the end of 2024. The decline was primarily due to dividend payments totalling $95.7 million during the quarter. These included a $75.5 million year-end dividend for 2024 and a $20.2 million dividend for Q1 2025.
Chief Financial Officer of Super Group, Alinda van Wyk, said, “Along with record first-quarter revenue growth, Group Adjusted EBITDA increased by 120 percent to $111 million. Total Revenue ex-U.S. grew 24 percent to $502 million, with Adjusted EBITDA ex-U.S. growing 62 percent 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.“
Full-year outlook unchanged
Following record results in 2024, where revenue reached €1.7 billion ($1.9 billion) and adjusted EBITDA totalled €330.3 million, Super Group has maintained its 2025 guidance.
The company reaffirmed its forecast of full-year revenue above $2.014 billion and adjusted EBITDA exceeding $421 million.
