Super Group, parent company of Betway, has raised its 2024 financial outlook and announced a special dividend, causing its shares to rise. The company now projects 2024 revenue of $1.68 billion, up from $1.63 billion, with EBITDA expected to reach at least $380.1 million.

This improved guidance comes after Super Group's strategic exit from the US sports betting market, citing limited profitability prospects in a market dominated by larger competitors. The company joins approximately 10 other operators who have departed the US market in recent years.

The company announced a special cash dividend of 15¢ per share, payable on January 8, 2025, to shareholders of record as of December 23, 2024. This follows their first annual dividend of 10 cents per share announced in June. The stock, up 120.50% year-to-date, now yields 1.43%.

CEO Neal Menashe emphasized the company's commitment to returning excess cash to shareholders, citing strong business performance and a robust balance sheet throughout 2024.

Despite leaving the US market, Super Group continues to thrive in other regions, including Africa and Canada. The company operates through its Betway brand and Spin online casino platform across 25 markets in Africa, the Americas, Asia, and Europe. Their success demonstrates that profitability is achievable without US market presence, with particularly strong growth noted in Canada.

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