Betway
Super Group owned Betway agree partnership with NBA side Miami Heat

Leading global online betting and gaming brand Betway, has announced a deal to become a partner of the NBA’s Miami HEAT.
The multi-year partnership will see the brand have a strong presence around FTX Arena with both courtside LED and Baseline Apron signage, showcasing Betway to loyal HEAT fans in the arena and a global TV audience.
The agreement will also see Betway become the Preferred Free to Play Gaming Partner of the Miami HEAT.
Anthony Werkman, CEO of Betway, said:
“Following further growth in the U.S., we’re thrilled to be partnering with the Miami HEAT.
“Miami is a fantastic city where sport is a huge passion, and we look forward to sharing the thrill with fans of the three-time NBA championship winning side.”
Glen Oskin, Vice President of Corporate Partnerships for the Miami HEAT said:
“With a proven track record as a global brand, Betway made a huge splash as it entered the US Market.
“Its leading the way as a dynamic entity that provides an incredible free-to-play gaming experience.
“Betway is an industry leader, and we couldn’t be happier to have it as a partner.”
This is Betway’s second Florida based deal, having become partners of the Miami Open Tennis tournament earlier this year.
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Alinda van Wyk
Super Group Raises Full-Year Revenue and EBITDA Guidance After Record Q2, Announces Intention to Exit U.S. iGaming

Super Group, the holding company for leading global online sports betting and gaming businesses Betway, a premier online sports betting brand, and Spin, a multi-brand online casino offering, provided an update for its second quarter performance, raised 2025 guidance and announced its intention to exit from the U.S. as part of an ongoing strategic review to streamline operations and enhance long-term shareholder value.
Super Group’s positive momentum over recent quarters continued in Q2 2025, with solid revenue growth across all markets. This was driven by strong sports results, improvements in pricing models, more efficient risk management, a full calendar of sporting events, record deposit levels, and ongoing robust customer engagement and retention across both casino and sports in key markets.
As a result, Super Group announced that Q2 2025 is expected to be the strongest quarter in the Group’s history. This continued and diversified strength increases confidence in the full-year outlook for 2025, and the Group is raising Ex-U.S. guidance accordingly:
• Total revenue is now expected to exceed $2.0 billion vs. prior guidance of $1.925 billion
• Total Adjusted EBITDA is now expected in excess of $480 million vs. prior guidance of $457 million
Neal Menashe, Chief Executive Officer, said: “We are very pleased with our performance in the second quarter, reflecting continued momentum and discipline across our core markets and further validating the strength of our operating model and brands. We remain focused on driving profitable and sustainable growth through consistent execution and continue to be super-confident in the long-term growth potential of our business.”
Super Group Announces Intention to Exit U.S. iGaming
The Group also announced that it intends to exit its U.S. iGaming operations, following a comprehensive evaluation of its global priorities, the evolving regulatory landscape, and the U.S. unit’s financial performance. The Group is currently evaluating its strategic options in this regard.
Neal Menashe said: “This is a difficult decision, particularly because our U.S. team has worked hard and made progress over recent quarters. Nonetheless, 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. We therefore intend to focus capital and resources on markets where we see the greatest opportunity for scalable, sustainable, profitable super growth, with a disciplined emphasis on operational efficiency.”
Alinda Van Wyk, Chief Financial Officer, said: “Various strategic exit options are under consideration. We are still early in the process but nonetheless would expect to incur a one-time cash restructuring cost of approximately $30 million – $40 million in connection with such an exit and are actively pursuing multiple efforts to minimize the impact thereof. Further details regarding these potential costs will be shared during our second quarter earnings release.”
Further insights into the Group’s performance and strategic outlook will be shared at the Investor Day on September 18, 2025, in London, UK.
The post Super Group Raises Full-Year Revenue and EBITDA Guidance After Record Q2, Announces Intention to Exit U.S. iGaming appeared first on Gaming and Gambling Industry in the Americas.
Alinda van Wyk
Super Group Reports Financial Results for Third Quarter of 2024

Super Group (SGHC) Limited, the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, announced third quarter 2024 unaudited consolidated financial results.
Neal Menashe, Chief Executive Officer of Super Group, said: “We achieved our strongest third quarter ever, highlighting the phenomenal progress we are making as a business. There is still tremendous potential as we experience super growth across our global casino brands, and particularly in Africa which we have scaled to be our largest region for the second quarter running. Given our continued strong performance and robust balance sheet, we are exploring ways to return excess cash to shareholders, and intend to discuss with the board a possible further special dividend before the end of the year.”
Alinda van Wyk, Chief Financial Officer of Super Group, said: “This quarter was our best ex-US third quarter ever, achieving total revenue of €395 million and Adjusted EBITDA of €95 million. We are focusing on consistent growth in our key markets, while striving to maximize operational and marketing cost efficiencies across the group, which resulted in a margin of 24% for the second quarter in a row – well ahead of our long-term target of 20%. Following the strong performance of the business over the first three quarters and an early look at a strong October, we are increasing our ex-US Adjusted EBITDA full-year 2024 guidance to be greater than €345 million.”
Financial Highlights:
Revenue increased by 13% to €402.9 million for the third quarter of 2024 (constant currency: 15% to €410.9 million) from €356.9 million in the same period of the prior year, driven by growth from the Africa, Europe and North America (predominantly Canada) markets partially offset by declines from the Middle East and Asia-Pacific markets.
Profit for the period was €8.5 million for the third quarter of 2024. Profit for the period of €10.6 million for the third quarter of 2023 included a non-cash charge of €14.2 million related to the change in fair value of option liability.
Adjusted EBITDA, a non-GAAP measure, increased by 60% to €83.9 million for the third quarter of 2024 compared to €52.5 million in the third quarter of 2023.
Monthly Active Customers increased by 17% to 4.7 million during the third quarter of 2024 from 4.0 million in the third quarter of 2023.
Cash and cash equivalents was €296.6 million at September 30, 2024, up from €241.9 million at December 31, 2023. This net increase during the nine months ended September 30, 2024 was the result of:
Inflows from operating activities amounting to €159.1 million;
Outflows from investing activities of €59.2 million. This was mainly as a result of further investment in tangible and intangible assets of €63.6 million, predominantly due to the capitalization of expenditure on software, issuance of a loan to Apricot Investments Limited of €10.0 million, deferred consideration paid of €2.5 million relating to the 15 Marketing Limited acquisition and cash paid of €2.0 million for an investment in associate. These outflows were offset in part by €9.2 million of consideration received from the sale of the B2B division of DGC, as well as €9.2 million resulting from receipts of interest and repayment of loans receivable;
Outflows from financing activities of €51.9 million, mainly due to dividends paid of €46.1 million and lease payments of €5.7 million; and
A gain of €6.7 million as a result of foreign currency fluctuations on foreign cash balances held over this period.
Betway
Super Group Announces Exit from U.S. Sportsbook Markets

Super Group, the parent company of Betway, a leading online sports betting and gaming business, and Spin, the multi-brand online casino, announced that, following the completion of an extensive internal review, the company intends to undertake an exit plan for its sportsbook product in the US.
The company, along with relevant regulators and partners, will shortly begin the process to fully close its U.S. sportsbook operations in the nine states in which it is currently live. Super Group will, however, maintain its iGaming presence in the US and plans to operate two iGaming brands from its Spin portfolio (including Jackpot City) in both New Jersey and Pennsylvania.
Chief Executive Officer Neal Menashe said: “As a global business, we constantly evaluate the optimal use of our resources across all markets in which we operate. We have recently concluded an extensive review of our U.S. operations and, at present, we do not see a long-term path to profitability for the sportsbook product.
“The vast majority of Super Group’s revenue is generated in iGaming and, in line with that strategy, we will continue to offer our leading casino product in New Jersey and Pennsylvania. We are open to expanding our U.S. footprint if the right investment or strategic opportunities arise.”
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