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Super Group (SGHC) on Tuesday lifted its full-year outlook and announced that it will exit its U.S. iGaming operations. Shares ended nearly unchanged, while the view of retail investors remained very optimistic.
The digital gaming company now expects fiscal 2025 revenue to exceed $2 billion, compared with the previously anticipated $1.93 billion. It expects the projected adjusted EBITDA to exceed $480 million, up from a prior projection of $457 million.
The raise was after strong trends in the ongoing second quarter, driven by "strong sports results, improvements in pricing models... [and] record deposit levels," the company said.
Super Group operates brands such as Betway and Spin in over 20 countries.
The company stated that its decision to exit the U.S. sports betting and online casino businesses was made following a review of its global priorities, the evolving regulatory landscape, and the U.S. unit's financial performance.
The company said it would incur a one-time restructuring cost of $30 million to $40 million.
On Stocktwits, the retail sentiment for the company held in the 'extremely bullish' territory, unchanged from a month ago.
Super Group shares are up 81% year-to-date.
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