Super Group, parent company of Betway, has raised its financial outlook for 2024 and announced a special dividend, leading to a rally in its stock price. The company now projects 2024 revenue of $1.68 billion (up from $1.63 billion) and EBITDA between $364.3-380.1 million.

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

The company declared a special cash dividend of 15¢ per share, payable 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, currently yields 1.43%.

"We have consistently said that we will consider returning excess cash to shareholders, and the outstanding performance of the business throughout 2024 alongside the continued strength of our balance sheet, has given us the platform to be able to do this," said CEO Neal Menashe.

Despite leaving the US market, Super Group continues to thrive in other regions, particularly in 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 profitable growth is achievable without US market presence, with particularly strong performance noted in their Canadian operations.

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