Super Group, the parent company of online sports betting and iGaming brands Betway and Spin, has reported its unaudited financial results for the first quarter of 2025, posting a 25 percent year-on-year increase in revenue to US$516.8 million (£391.72m).
The revenue growth was attributed primarily to strong performances across Africa, Europe, and North America, particularly in Canada, offset by declines in Latin America, the Middle East, and Asia-Pacific.
Net profit for the quarter reached US$59.4 million (£45.03m), up from US$44.6 million in Q1 2024 (£33.81m). However, last year’s result included a US$43.6 million (£33.05m) gain from the divestment of the B2B division of Digital Gaming Corporation.
Adjusted EBITDA rose by a whooping 120 percent, year-on-year, to US$111.1 million (£84.24m), with $121 million (£91.75m) generated ex-U.S. and a US$-9.8 million loss (£-74.13m) attributed to the U.S. segment.
Monthly active customers increased by 14 percent to 5.3 million; while dividend payments during the quarter totalled US$95.7 million (£72.58m).
Mighty Dollar
In line with its growing North American footprint and listing on the NYSE, Super Group has changed its presentation currency from euros to U.S. dollars effective January 1, 2025.
Regionally, Africa and the Middle East led the way, accounting for 39 percent of total revenue. North America followed with 35 percent — driven by Spin’s strong iCasino offering. Europe contributed 19 percent and Asia-Pacific and Latin America represented six percent and one percent, respectively.
By product line, online casino revenue reached US$404 million (£306.38m), up from US$322 million (£244.19m) in Q1 2024.
Sports betting revenue was US$106 million (£80.4m), up from US$79 million (£59.92m).
Momentum
The group’s performance highlights continued momentum across key markets, especially within regulated jurisdictions, as Super Group advances its international iGaming strategy.
Commented Super Group CEO Neal Menashe: “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, fuelled by outstanding sports betting margins and consistent casino margins, as well as our ongoing efforts to optimise return-on-investment across all markets.”
Added the group’s CFO Alinda van Wyk: “[Our] record first-quarter revenue growth [is] keeping us on track to deliver on our annual guidance.
“Our Balance Sheet remains strong with unrestricted cash of US$351 million (£266.22m), despite increasing the minimum dividend target and paying $95.7 million (£72.58m), representing the 2024 Year End and 2025 first quarter dividend.
“This brings the total dividends paid to US$145.8 million (£110.58m) over the last 12-months.”
