Betway owner Super Group posted a 20.3% drop in profit over Q3, despite the company reporting revenue of €402.9m [$432.2m], its highest ever total for the period. Its revenue mix is evolving, with Africa now its largest region in terms of revenue.
In the three-month period to 30 September, Super Group accumulated profit of €8.5 million ($9.1 million), falling short of the €10.6 million it generated in the same quarter of 2023.
Super Group attributed the decrease to an €11.5 million adjusted EBITDA loss from the US. In July, Super Group announced it had decided to withdraw from the US sports betting market after an extensive internal review, closing its sportsbook operations in the nine states it was live in with the company failing to see a long-term path to profitability.
