Super Group, the owner of Betway, has posted full-year revenue gains. The company is shifting its focus to core growth markets. It reported a 2024 full-year group revenue of €1.66 billion or $1.7 billion or £1.37 billion, up 18% year-on-year.
The earnings cover the 12 months to December 31, released last February 25. The group reported an adjusted EBITDA of €330.3 million in the previous year, up from €198.2 million in 2024. Excluding the United States, its adjusted EBITDA was €391.1 million.
In terms of where revenue came from, 20% related to sports betting. Meanwhile, online casinos accounted for 80%.
Up 20% year-on-year, the Betway owner recorded monthly average customers of 4.8 million in the past year.
Neal Menash, Super Group’s CEO said that the company was now deeply focused on its key growth markets.
After an extensive review, the online gaming operator withdrew from the U.S. sports betting market last July. This exit cost the group a one-off payment of €32.7 million last year. In nine states, it had been offering a sports book product.
Super Group has kept its iGaming offerings in Pennsylvania and New Jersey. It aims to expand its Spin portfolio in these markets.
At €61 million, total US investment for the year came in. Given its exclusive focus on iGaming, Alinda van Wyk, the CFO, said this would reduce considerably in the current year.
Menash speaks to analysts and said the company would focus on its core markets of Africa, Europe, Canada, and New Zealand.
He said they are honing in on those. And of course, they are opening up some new markets along the way. In new markets, the focus is on achieving the same level of profitability as in existing ones.
He added that they had a big efforts in the latter part of last year of closing the markets that they do not see a path to possibility in and he thinks all of that is showing in their numbers moving forward.
