Growth in Africa helps boost Super Group's Q1 2024 revenue by 12%

Super Group (SGHC) Limited (NYSE: SGHC), the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, today announced its first quarter 2024 unaudited consolidated financial results. The company reported a significant increase in revenue, marking the highest recorded in a first quarter.

Super Group's revenue for the first quarter of 2024 reached €379.3 million, a 12% increase from €338.5 million in the same period last year. This growth was primarily attributed to expansion in Africa and North America, offsetting declines in the Middle East and Asia-Pacific markets.

The company posted a profit of €41.0 million for the three months ended March 31, 2024. 

The company's expansion efforts have been successful, with monthly active customers increasing by 33% to 4.7 million during the first quarter of 2024, up from 3.5 million in the same period last year.

Neal Menashe, Chief Executive Officer of Super Group, highlighted the company's strong start to the year, attributing it to the ongoing focus and investment into core markets that are yielding strong returns. He expressed confidence in the company's ability to continue delivering solid performance throughout the year.