Super Group’s “outstanding sports betting margins” helped the global online gaming company grow year-over-year revenue by 25% during the first quarter of 2025.
Key Takeaways
- Super Group’s Betway and Spin brands generated $516.7 million in revenue during Q1 2025.
- Adjusted EBITDA, quarterly profits, and monthly active customers were all up compared to the same period in 2024.
- North America and Europe were strong regions to start 2025.
The operator announced on Thursday that sports betting brand Betway and online casino Spin generated a combined $516.8 million in revenue and Adjusted EBITDA of $11.1 million, a 120% year-over-year increase during the period ending March 31.
“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,” Super Group CEO Neal Menashe said. “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.”
Growth highlights
Super Group reported a profit of $59.4 million in the first quarter, up from $44.6 million during the same period in 2024. Monthly active customers grew by 14% to 5.3 million.
“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,” Super Group CFO Alinda van Wyk said.
“This brings the total dividends paid to $145.8 million over the last 12 months."
North America records strong quarter
This marks the second reported quarter since Super Group exited the U.S. sports betting market. Betway had been operating in nine U.S. states until July 2024. Spin continues to offer iGaming in New Jersey and Pennsylvania.
The North American market still accounted for 39% of the total gaming revenue and 72% of Super Group’s $199 million in global online casino revenue. The $39 million in sports betting revenue, 12% of the total of $318 million, was produced via Ontario sports betting.
Other regions
Outside of the U.S., total revenue grew 24% while Adjusted EBITDA increased 62% compared to Q1 2024. Super Group said this keeps the company on track to deliver its annual guidance of $2.014 billion in revenue. However, the company raised Adjusted EBITDA projections to more than $421 million.
The Africa/Middle East region accounted for $151 million of the sports betting revenue. The 63% was the highest of any Super Group market in Q1. Europe made up 22% of revenue produced by Betway, up from 17% in Q1 2024, and the sportsbook brought in nearly $30 million more than the previous year. That same region is tied with Asia-Pacific with 13% of the iGaming revenue.
Super Group reported that the Middle East, Asia-Pacific, and South/Latin American regions suffered year-over-year revenue declines.
