Super Group, the parent company of online sports betting behemoth Betway, has released a positive financial update as 2024 draws to a close. In addition to announcing increased sales and revised EBITDA estimates for the entire year, the company reported strong performance through the fourth quarter.
Super Group has increased its 2024 sales prediction from €1.55 billion to €1.6 billion ($2.04 billion). Additionally, the business raised its ex-US adjusted EBITDA projection, which was previously set at $439.4 million, to at least $458.5 million.
CEO Neal Menashe expressed pride in the company’s achievements, stating: “I’m very proud of our performance this year and delighted we are in a position to raise our full-year revenue and ex-US Adjusted EBITDA guidance again while announcing another dividend for 2024.”
In recognition of its success, Super Group’s Board of Directors declared a special cash dividend of $0.19 per share. Shareholders can expect payment on January 8, 2025. The company also reaffirmed plans to initiate regular quarterly dividends in 2025, pending Board approval.
Strategic Moves in 2024
In 2024, Super Group implemented significant strategic changes. After a thorough internal investigation, it started to phase out its sportsbook activities in the United States in July. The corporation made this choice in an attempt to keep its worldwide operations profitable and efficient.
The company also successfully sold Games Global the B2B assets of Digital Gaming Corporation. Super Group was able to reallocate its resources to its core products, such as Betway and Spin, its online casino brand, once the purchase was completed on February 1.
Menashe highlighted the company’s commitment to shareholder value, saying: “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.”
Super Group’s impressive financial growth and strategic initiatives signal its dedication to long-term success, reinforcing its position as a global leader in online betting and gaming.
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