Super Group projects record-breaking Q4 2024, exceeding full-year financial targets

Super Group has projected its strongest quarter to date outside the U.S., with anticipated revenue of approximately €486 million ($510.97 million) and adjusted EBITDA expected to range between €125 million ($131.42 million) and €130 million ($136.68 million) for Q4 2024. The operator of Betway and Spin saw its shares rise by over 8% following the release of a preliminary financial update on January 22.  

The company highlighted record-breaking performance in several key metrics during the quarter, including all-time highs for deposits and revenue in December. For the full year, Super Group expects to have exceeded its previous ex-U.S. guidance, surpassing the €1.6 billion ($1.68 million) revenue target and achieving adjusted EBITDA of over €360 million.

Revenue for 2024 is estimated to have grown by approximately 18% to €1.66 billion, while adjusted EBITDA is projected to have increased by over 50%, landing between €387 million ($406.88 million) and €392 million ($412.14 million). The company anticipates an EBITDA margin exceeding 23%.  

Super Group’s U.S. operations also reported record-setting performance in the fourth quarter, with revenue reaching an all-time high in October and surpassing that figure in both November and December. The company had previously announced in July its decision to withdraw from the U.S. sportsbook market while maintaining its iGaming presence.  

In Q4, Super Group invested around €11 million ($11.57 million) into its U.S. business, bringing the total investment for 2024 to approximately €61 million ($64.13 million). However, the company expects a notable reduction in investment going forward due to its streamlined focus on iGaming operations in the region.  

CEO Neal Menashe expressed optimism about the trajectory of the business. "I’m proud to have ended 2024 on a high, with new records expected for both total revenue and adjusted EBITDA," Menashe stated. "This momentum has continued into the start of 2025, setting a solid foundation for the year ahead."