In Q1, Super Group's largest market expansion occurs in Africa and the Middle East, contributing to a 25% increase in total revenue.
Betway's parent company, Super Group, reports astounding Q1 revenue hits of $517 million, a 25% surge from the same quarter last year! This impressive growth can be attributed to several factors and a strong performance across core regions like Africa, Europe, and North America.
Climbing the Revenue Ladder
Reviving the iGaming game in North America saw substantial success, with Canada emerging as a powerful revenue booster. The continent held 35% of the group's total revenue, while growth in the Middle East encountered a dip.
On the flip side, Africa reigned supreme, accounting for more than half of Super Group's ($203 million) revenue increase. South Africa was the main gold mine, amassing 39% of the Q1 revenue, with a noteworthy 34.4% rise compared to last year.
In contrast, while North America's revenue witnessed an increase, its share of the group's revenue dropped to 35%. Asia-Pacific and the Latin and South American regions also saw their shares diminish, whereas Europe rose to 19%.
Shaping the Top Line
Sports betting played a dominant role in generating revenue, with a 25.5% year-on-year expansion to reach $404 million in Q1. However, the online casino segment topped the growth charts, skyrocketing 34.2% to $106 million. Additional revenue from brand licensing and external customer activities contributed modestly.
The Betway brand was the leading earner in both the sports betting and casino segments. Revenue from Betway surged 32%, and the Spin brand, solely offering casino games, recorded a 16.4% increase to $199 million.
Moving Ahead with Confidence
Although direct and marketing expenses rose, administrative costs remained stable. Post-tax adjustments, profit rose 67.9% to $89 million. Despite last year's DGC sale profit boost of $44 million in Q1, Super Group managed a net profit of $59 million, marking a 31.1% year-over-year increase.
To top it off, adjusted EBITDA was significantly up by 46.6% to $107 million. However, certain adjustments were factored in for the year-on-year comparison, primarily due to the DGC sale.
Looking forward, Super Group continues to bank on revenue to reach $2.01 billion for the full year, with adjusted EBITDA at $421 million. With a strong start to 2025, CEO Neal Menashe is thrilled about the company's progress and shared, "We've had a fantastic Q1. Our growth in revenue, strategic customer acquisition, and continuous optimization across all markets serve as a testament to our determination."
Technology played a significant role in boosting revenue, with Betway's digital platforms backing Super Group's robust performance in various sports, especially football and esports. Menashe, the CEO, was reportedly pleased with the group's technological advancements and the resulting revenue surge.
In the quarterly report, the DGC sale was cited as a contributing factor to the impressive revenue growth. The funds from the sale were not solely responsible for the profit boost; the group's strong presence in the South African market, especially in sports betting, also played a significant role.
Despite the revenue dip in the Middle East and North America, the South African market emerged as a revenue powerhouse, accounting for the majority of Super Group's revenue increase. The South African region showed outstanding growth, with sports betting and casino segments driving much of the increase.
