Super Group raises full-year revenue guidance

Neha Soni December 12, 2024

SiGMA news

Super Group (SGHC), the company behind Betway and Spin casinos, has upgraded its full-year revenue guidance for 2024.

The operator has raised full-year revenue guidance from €1.55 billion to €1.6 billion on the back of a strong performance in the first two months of the final quarter. The company has also increased its ex-US adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) guidance from €345 million to over €360 million for the year.

The board has declared a special cash dividend of 15¢ per share, payable on 8 January 2025, shareholders must have held stock as of the close of business on 23 December. The company had paid 10¢ per share in July as dividend.

“We have consistently said that we will consider returning excess cash to shareholders, and the outstanding performance of the business throughout 2024, alongside the continued strength of our balance sheet, has given us the platform to be able to do this,” said Super Group CEO Neal Menashe.

Q3 financial report

Super Group released its Q3 2024 financial report on 6 November, showcasing a notable revenue increase despite a drop in quarterly profits.

The company reported revenue of €402.9 million ($431.6 million), marking a 13 percent year-on-year rise. Meanwhile, profits declined by 24 percent to €8.5 million for the quarter.

However, year-to-date figures remain strong, with the company posting a nine-month profit of €48.5 million, up from €36.2 million in 2023. Super Group attributed much of its revenue growth to robust performances in Africa and North America.

Recently, Super Group announced that its president and chief commercial officer Richard Hasson has tendered his resignation. Hasson, who was with the company for 12 years, will be leaving the company at a date yet to be confirmed.

He joined the group as a commercial director for Win Technologies in 2012. Moving his way up, he became the president and chief operating officer in 2020 before assuming his current role in March 2024.

Allowing for a smooth transition, Hasson will continue to serve at Super Group into next year. The company released a statement thanking Hasson for his almost 13 years of service.