Super Group the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, today announced first quarter 2025 unaudited consolidated financial results.

Revenue increased by 25% to $516.8 million for the first quarter of 2025 from $411.9 million in the same period of the prior year, driven by growth from the Africa, Europe and North America (predominantly Canada) markets partially offset by declines from the LATAM, Middle East and Asia-Pacific markets.

Profit for the period was $59.4 million for the first quarter of 2025 compared to $44.6 million in the first quarter of 2024. Profit for the period in the first quarter of 2024 included a gain on disposal of the B2B division of Digital Gaming Corporation Limited (“DGC”) of $43.6 million as well as a non-cash charge of $14.3 million related to the increase in fair value of option liability.

Adjusted EBITDA, a non-GAAP financial measure, increased by 120% to $111.1 million for the first quarter of 2025 compared to $50.4 million in the first quarter of 2024.

Neal Menashe, Chief Executive Officer of Super Group, commented: “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% year-over-year increase, fueled by outstanding sports betting margins and consistent casino margins, as well as our ongoing efforts to optimize return on investment across all markets.”

Alinda van Wyk, Chief Financial Officer of Super Group, stated: “Along with record first-quarter revenue growth, Group Adjusted EBITDA increased by 120% to $111 million. Total Revenue ex-U.S. grew 24% to $502 million, with Adjusted EBITDA ex-U.S. growing 62% 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.”