Neal Menashe, CEO of Super Group, stated: “Recent regulatory developments combined with ongoing assessment of capital allocation requirements have led us to believe that our stringent hurdle for return on capital will likely not be met in this market any time soon.”
Looking ahead, the group plans to focus its capital and resources on markets with the greatest potential for “scalable, sustainable, profitable super growth.”
Alinda Van Wyk, CFO at Super Group, confirmed that multiple strategies are being explored to reduce the financial impact. The group anticipates a one-time cash restructuring cost between $30M–$40M.
Earlier, Super Group paid $32.7M as a one-time cost for Betway’s US exit.
As a result, Super Group has raised its revenue and EBITDA projections for 2025 after a record Q2 performance. The company expects revenue (excluding US) to exceed $2B, with adjusted EBITDA surpassing $480M.
For FY2024, Super Group posted €1.7B ($1.99B) in revenue excluding the US and €330M in adjusted EBITDA. Earlier guidance for FY2025 predicted $1.925B in revenue and $457M in EBITDA.
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