Richard Hasson to step down as Super Group president and CCO
The online betting group has also announced a special dividend payment for Super Group shareholders.
US.- The board of Super Group (SGHC) has advised investors that Richard Hasson will resign from the role of president and chief commercial officer (CCO). He will step down in the first half of 2025 after 13 years in the group’s leadership.
The NYSE-listed online gambling group said: “The effective date of Mr Hasson’s resignation from these positions is to be determined, but it is anticipated to occur during the first half of 2025 to allow for a thorough and smooth transition of his responsibilities.”
Hasson has been with the group through its transformation from Win Technologies and then Betway Group to its current form. He previously worked as a chartered accountant at KPMG and as an associate at Goldman Sachs and joined Win Technologies in 2012 as commercial director for the Betway and Spin brands.
Super Group dividend
Meanwhile, Super Group has announced a special cash dividend for shareholders after surpassing its 2024 financial targets. It has lifted full-year revenue guidance from €1.55bn to €1.6bn and ex-US adjusted EBITDA guidance from €345m to €360m.
It will pay out 15¢ per ordinary share on January 8, 2025, to shareholders that are on record by December 23. The company had already paid a 2024 dividend of 10¢ per share in July. it has confirmed plans to pay regular quarterly dividend payments in 2025, pending board approval.
CEO Neal Menashe said: “We’ve had an outstanding year, and I’m thrilled to announce yet another dividend while raising our full-year revenue and Adjusted EBITDA guidance. The strength of our balance sheet and consistent performance have allowed us to deliver value to our shareholders.”
The growth in revenue comes despite Super Group’s decision to exit the US sports betting market (it maintains the presence of two igaming brands from its Spin portfolio, including Jackpot City, in New Jersey and Pennsylvania). The group has also pulled Betway out of Brazil’s online gambling market.
In Q2, Super Group reported record quarterly revenue of €414.7m, a rise of 9 per cent year-on-year. Betway contributed €246.3m, up 7.6 per cent.
Betway’s revenue from Africa and the Middle East reached €152.8m, while European revenue hit €45m, up 23 per cent. Casino brand Spin recorded €112m in revenue in North America.
