Africa and Middle East largest market for Super Group in Q1 as group revenue climbs 25%
Betway operator Super Group reported record revenue during Q1 to $517 million, figures from Super Group showed. This is 25% higher than $412 million in Q1 of last year.
Growth was apparent across many of the group’s core regions, including both Africa and Europe. It also noted success via its iGaming product in North America, with Super Group highlighting Canada in particular.
Growth across Middle East and Africa meant the region now accounts for the highest percentage of revenue at Super Group. This growth was mainly related to South Africa. It drew 39% of all revenue in Q1, up from 37% last year, when it tied with North America.
The region drew $203 million in revenue, a rise of 34.4%. This was despite a decline in the Middle East, with Super Group benefiting from growth across several African markets.
In contrast, while North America revenue was higher year-on-year, its share of group revenue dipped to 35%. Asia-Pacific and Latin and South America revenue share also fell, although Europe’s share of revenue was up from 15% to 19%.
North America revenue climbed 18.3% to $181 million, helped by growth in the Canada market. Europe revenue also jumped 52.4% to $96 million.
However, Asia-Pacific revenue slipped 15.8% year-on-year to $32 million, while revenue in South and Latin America was down 28.9% to $5 million.
Betway revenue up 35.8% in Q1
Taking a closer look at Q1, sports betting remained the primary revenue source for Super Group. Revenue from this segment during the quarter increased by 25.5% year-on-year to $404 million.
However, the group reported higher growth within the online casino segment, with revenue rising 34.2% to $106 million. A further $5 million in revenue came from brand licensing and $2 million from external customer activities.
The Betway brand drew the most revenue during the quarter across both sports betting and online casino. In total, revenue from Betway increased 32%, while the Spin brand, which only offers online casino, saw revenue rise 16.4% to $199 million.
Super Group sees profit rise despite DGC sale impact in 2024
Turning to costs, direct and marketing expenses were higher but administrative costs were level. After other costs, including depreciation and amortisation, pre-tax profit reached $89 million, up 67.9%.
This is despite Super Group last year benefitting from the sale of the B2B division of Digital Gaming Corporation (DGC) to Games Global in February 2024. The sale led to a $44 million gain in Q1 last year.
The group paid $30 million in tax in Q1, resulting in a net profit of $59 million, up 31.1% year-on-year. However, when also including a $17 million positive effect from foreign currency translation, this pushed bottom-line net profit to $76 million, some 105.4% higher than last year.
As for EBITDA, this was 46.6% higher at $107 million. However, Super Group noted several adjustments for this year-on-year comparison, primarily in relation to the DGC sale.
Looking ahead, combined guidance remains unchanged. Super Group expects revenue to be around $2.01 billion for the full-year and adjusted EBITDA $421 million.
“We started 2025 on a high note,” CEO Neal Menashe said in the results report. “We delivered a strong Q1 with impressive revenue growth, a surge in customer acquisition and effective retention strategies.
“Our combined revenue reached a record for a first quarter, fuelled by outstanding sports betting margins and consistent casino margins, as well as our ongoing efforts to optimise return on investment across all markets.”