Super Group announced an impressive Q4 performance earlier this week, with revenue hitting €500m (£413m) and adjusted EBITDA more than tripling to €118.1m for the online operator.
The parent company of Betway and Spin also noted a record number of active users, with 5.3 million on the platform, excluding US operations.
In the US, a shift to an igaming-only model in New Jersey and Pennsylvania resulted in the market achieving its highest-ever quarterly revenue of €14m.
Adjusted EBITDA losses in the US are anticipated to reduce by half in 2025 to €30m in a best-case scenario, compared to a full-year 2024 loss of €60.8m.
During the analyst call following the report’s release, CEO Neal Menashe mentioned planned market launches in Africa, highlighting Botswana as a recent expansion. The region currently represents the largest share of Super Group’s revenue.
The CEO also stated that cost efficiencies across the company would help mitigate some tax increases, with New Jersey planning to raise the igaming tax rate to 25% in the 2026 budget.
As this interview went live, Super Group also confirmed that chief commercial officer Richard Hasson’s resignation took effect from 28 February.
Hasson tendered his resignation in December and plans to leave the company during H1 2025 to ensure a “thorough and smooth transition.”
Here, *EGR* spoke with Menashe following the earnings release and analyst call to discuss key markets and the company’s recent strategic moves.
**EGR: A record quarter for group revenue at €500m, with Africa highlighted as a key region. On the analyst call, it was mentioned Botswana had gone live, so how have operations gone so far?**
**Neal Menashe (NM):** It’s early stages in Botswana – we’ve just gone live – but we are confident in building a sustainable and profitable business here. Our strong operational experience in Africa, along with our localized product and marketing strategies, should resonate well within the country.
**EGR: The UK was labeled as “solid growth” for the quarter. With the threshold for financial risk checks lowering further at the end of February, does that impact the market at all?**
**NM:** Enhanced financial checks and the increased regulatory burden will have minimal impact. We pivoted years ago to a low-stake, high-volume business model in the UK, so I believe we are well-positioned to handle these changes. We are an agile business capable of adapting quickly to regulatory changes.
**EGR: Canada was another strong growth market for the quarter. What are your hopes for Alberta launching a regulated market this year? And would that change the FY 2025 guidance at all?**
**NM:** Alberta is expected by most of the industry to regulate during H1 2026, so we have not projected any impact for FY 2025.
**EGR: Adjacent to the Q4 report, could you talk us through the rationale behind the new Williams deal in Formula 1?**
**NM:** Our Atlassian Williams sponsorship aligns with our broader partnership strategy. Williams is one of the most storied teams in F1 history, with fans worldwide. The rapid expansion of F1 into new markets in recent years has been incredible. We are thrilled about the deal that includes both our Betway and Jackpot City brands, as the exposure they will receive across the majority of the races in the calendar will significantly enhance global awareness of our business.
**EGR: And finally, Merrick Wolman has been added to the board. What do you expect him to bring to the group?**
**NM:** Merrick brings a profound understanding of the gaming industry and extensive experience in executive finance roles. We have collaborated closely with him over the past two decades and know he will add considerable value as we continue to pursue our global growth strategy and build on our successes.