Super Group shares up after “strongest ever ex-US quarter” forecast

Super Group has said it expects Q4 2024 to be the operator’s “strongest ever ex-US quarter”, with revenue for the reporting period forecast to be approximately €486m (GBP).

The company behind Betway and multi-brand casino operation Spin has published a preliminary update today, 22 January, with adjusted EBITDA for the last three months of the year predicted to land between €125m and €130m.

The update has sent Super Group’s shares up by 8% in pre-market trading in New York. The group’s stock has doubled in the past 12 months to $6.23.

Within the quarter, Super Group said it projects to have achieved several monthly ex-US records, with December accounting for new highs in total deposits and revenue.

On a full-year 2024 basis, revenue and adjusted EBITDA are both expected to surpass previously issued guidance of €1.6bn and greater than €360m, respectively.

Management also noted that ex-US records were anticipated to come on a full-year front, with revenue expected to grow around 18% to approximately €1.66bn.

Full-year 2024 adjusted EBITDA is predicted to soar more than 50%, with the metric due to hit between €387m and €392m. That would mean an EBITDA margin of more than 23%.

In the US, where Super Group pulled its online sports betting offering, Betway, last year and is pushing ahead with an igaming-only approach, bosses said new records had also been broken in Q4.

Super Group remains live in New Jersey and Pennsylvania, with costs to exit the online sports betting market having come in at around €36m, below the previous guidance of €45m.

October marked an all-time high for revenue for a month, which was surpassed by November and December, according to Super Group.

Despite the rise in revenue in Q4, Super Group said it expects investment into the US in 2025 to “reduce materially”, given the igaming-only focus.

Super Group added: “The expected Q4 2024 investment into the US business is €11m, which would bring the total investment for the year to €61m.”

The preliminary update comes after the business upgraded its full-year 2024 guidance in December for both revenue and adjusted EBITDA.

At the time, revenue was lifted from €1.55bn to €1.6bn and adjusted EBITDA from €345m to above €360m.

Neal Menashe, Super Group CEO, said: “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.”

The New York-listed operator is due to release its proper Q4 and full-year 2024 report in February.

The post Super Group shares up after “strongest ever ex-US quarter” forecast first appeared on EGR Intel.

 Betway and Spin parent also notes full-year revenue and adjusted EBITDA to beat guidance, alongside plans to reduce US igaming investment in 2025
The post Super Group shares up after “strongest ever ex-US quarter” forecast first appeared on EGR Intel.