Super Group remains confident about its 2025 financial performance despite tough comparisons with its continued US market exit.
The group, operator of Betway and Spin, has raised its full-year 2025 guidance to between $2.125bn and $2.2bn following better-than-expected third quarter results. Guidance was previously set at $2.04bn.
According to Super Group, strong sports results, pricing optimisation and continued customer engagement drove operational performance despite seasonality.
CEO Neal Menashe hailed the announcement as a sign of the resilience of the company’s model.
“We’re seeing strong contributions from both sports and casino, deeper customer engagement, and continued margin improvement across key markets,” Menashe said.
“As a result, we’re pleased to raise our full-year outlook and remain confident in our ability to deliver for our shareholders.”
Excluding US revenue, the company now expects to generate revenue between $2.085bn and $2.16bn. US revenue is projected to be greater than $40m.
Alongside revenue, there is also a positive outlook for the group’s ex-US adjusted EBITDA, which has been raised from $575m to $585m.
A US adjusted EBITDA loss of $25m is expected as Super Group completes the final closure of its US businesses early in the final quarter of 2025.
Regulatory hurdles
In July, Super Group confirmed its plans to exit the US iGaming market despite previously expressing optimism.
Last year, the group shut down its sports betting brand Betway in nine states, and has now chosen to withdraw its Jackpot City and Spin brands from New Jersey and Pennsylvania.
“Recent regulatory developments combined with ongoing assessment of capital allocation requirements have led us to believe that our stringent hurdle for return on capital will likely not be met in this market any time soon,” said Menashe at the time of the announcement.
It is expected that Super Group will incur a one-time restructuring cost of between $30m and $40m to fully exit the US market. The group forked out $32.7m to facilitate Betway’s US withdrawal.
Super Group previously raised its ex-US revenue guidance to beyond $2bn and ex-US adjusted EBITDA in excess of $480m after record performances in Q2.
On its latest results, CFO Alinda van Wyk said: “The consistency of our financial performance this quarter gives us confidence in our ability to drive both top-line and margin expansion.
“With cost ratios improving and our product-led strategy gaining traction, we remain focused on disciplined execution and long-term value creation.”
