{"id":8723,"date":"2025-02-26T05:04:14","date_gmt":"2025-02-26T05:04:14","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/02\/26\/betway-owner-super-group-reports-higher-revenue-as-it-exits-us-betting\/"},"modified":"2025-02-26T05:04:14","modified_gmt":"2025-02-26T05:04:14","slug":"betway-owner-super-group-reports-higher-revenue-as-it-exits-us-betting","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/02\/26\/betway-owner-super-group-reports-higher-revenue-as-it-exits-us-betting\/","title":{"rendered":"Betway Owner Super Group Reports Higher Revenue as It Exits US Betting"},"content":{"rendered":"<div>\n<p data-pm-slice=\"1 1 []\">Super Group reported an 18% increase in revenue for 2024, reaching \u20ac1.66 billion, as it shifted focus to core growth markets after exiting the US sports betting sector. The company, which owns Betway, recorded a significant rise in adjusted EBITDA, which climbed from \u20ac198.2 million in 2023 to \u20ac330.3 million in 2024. When excluding the US, EBITDA stood at \u20ac391.1 million.<\/p>\n<p>Most of the revenue came from online casino operations, contributing 80%, while sports betting accounted for the remaining 20%. Monthly average customers grew to 4.8 million, a 20% increase from the previous year.<\/p>\n<p>Super Group decided to withdraw from the US sports betting market last July after an internal review. The exit, which cost the company \u20ac32.7 million in 2024, ended its sportsbook operations in nine states. However, it retained its igaming business in Pennsylvania and New Jersey and plans to expand its Spin brand in those markets.<\/p>\n<p>The company invested \u20ac61 million in its US operations in 2024, but CFO Alinda van Wyk stated that spending would drop significantly in 2025 as the company shifts its focus entirely to igaming.<\/p>\n<p>CEO Neal Menash emphasized the company\u2019s strategy to concentrate on key markets in Africa, Europe, Canada, and New Zealand. <em>\u201cWe are honing in on those,\u201d<\/em> he said. <em>\u201cAnd of course, we are opening up some new markets along the way. But in the new markets that we are opening, it\u2019s all about how we can get the same profitability in those markets.\u201d<\/em><\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p>He also pointed out that closing unprofitable markets in late 2023 has contributed to improved financial performance.<\/p>\n<p>Looking ahead, Super Group projects revenue of \u20ac1.83 billion in 2025, excluding its US business. Adjusted EBITDA is expected to reach approximately \u20ac435 million. Including remaining US operations and exit-related costs, the company forecasts total revenue of \u20ac1.92 billion with an adjusted EBITDA of around \u20ac400 million.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/betway-owner-super-group-reports-higher-revenue-as-it-exits-us-betting\/\">Betway Owner Super Group Reports Higher Revenue as It Exits US Betting<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Super Group reported an 18% increase in revenue for 2024, reaching \u20ac1.66 billion, as it shifted focus to core growth markets after exiting the US sports betting sector. The company, which owns Betway, recorded a significant rise in adjusted EBITDA, which climbed from \u20ac198.2 million in 2023 to \u20ac330.3 million in 2024. When excluding the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8723","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8723"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8723\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}