Super Group expects to achieve new quarterly and full-year records in ex-US total revenue and adjusted EBITDA for the fourth quarter and 2024 overall, which CEO Neal Menashe says has helped to set a “solid foundation” for the year ahead.
Posting a trading update, the parent company of Betway and Spin noted that ex-US total revenue for Q4 is expected to be around €486m, with adjusted EBITDA between €125m and €130m.
“During the quarter the Group projects to have set a number of new monthly ex-US records, with December being particularly impressive, achieving new highs for deposits and total revenue,” the group stated.
For the full year, Super Group expects ex-US total revenue to increase by approximately 18% to reach around €1.66bn, in addition to adjusted EBITDA growing by over 50% to between €387m and €392m with a margin of greater than 23%.
New records are also expected for Super Group’s US business in Q4, with the group adding that investment into the US business is “expected to reduce materially in 2025” following the reduced footprint in the market and the sole focus on iGaming.
“The developing US business is also anticipated to have delivered new records in the fourth quarter – October was an all-time high for Total Revenue, which was subsequently surpassed in both November and December,” noted the group.
The expected Q4 US business investment is around €11m in Q4, bringing the total investment for the year to around €61m.
Menashe commented: “I’m proud to have ended 2024 on a high, with new records expected for both Total Revenue and Adjusted EBITDA.
“This momentum has continued into the start of 2025, setting a solid foundation for the year ahead. I would like to thank the global Super Group team for an excellent 2024, and I look forward to an even better 2025.”
Super Group will report additional details on its Q4 and full year 2024 financial earnings in February.
