Super Group Reports Financial Results for Second Quarter of 2025

Super Group has reported its highest quarterly revenue to date, reaching $579 million in the second quarter of 2025, a 30% increase year-on-year from $447 million in Q2 2024.

The results continue the growth momentum from Q1, when the company posted $516.8 million, a 25% rise from the prior year.

The company’s growth was primarily fueled by activity in Africa, Europe and North America, although declines were noted in Latin America, the Middle East and Asia-Pacific markets. Africa and the Middle East remained the largest revenue contributors, accounting for 40% of group revenue in Q2, slightly up from 37% the previous year. North America and Europe followed with 34% and 19% of total revenue, respectively.

Betway led the revenue share, generating $355 million in Q2. Within this, Africa and the Middle East produced $225 million, up from $164 million a year earlier. Europe contributed $81 million, up from $49 million in Q2 2024.

Betway’s North America operations, primarily in Ontario after the company exited the US market, accounted for $41 million in revenue, compared with $37 million in the prior year. Meanwhile, Spin Casino recorded $162 million in North American revenue, an increase from $120 million in Q2 2024.

Impact of US market exit

Super Group’s planned full exit from the US iGaming market, meaning the closure of its remaining operations in New Jersey and Pennsylvania, is expected to impact financial results. The exit, which has no specific public date, is expected to result in a $30 million to $40 million loss in adjusted EBITDA.

“While our decision to exit the US was difficult, we believe that this step demonstrates our commitment to capital efficiency and long-term profitability. With continued focus on scaling our technology globally, Super Group should be even better positioned for sustained, profitable growth,” said Super Group CEO Neal Menashe.

According to CFO Alinda van Wyk, the second quarter represented Super Group’s strongest quarterly financial performance to date, attributing the results to the company’s scalable, cost-efficient operating model and its controlled marketing spend.

“We ended the quarter with $393 million in unrestricted cash and zero debt, and returned $20 million to shareholders, bringing our 12-month capital returns to $166 million,” said van Wyk.

Following Q2 results, Super Group raised its full-year group adjusted EBITDA guidance to between $470 million and $480 million. The company also adjusted its ex-U.S. adjusted EBITDA guidance upward to a range of $500 million to $510 million.

Super Group’s activity in Africa and the Middle East has continued to expand. Across its eight African markets, Super Group holds a podium position in seven, with Ghana showing notable growth—sports betting and casino revenue increased by 48% and 71%, respectively.

Menashe noted: “We had a super first half of 2025, driven by a record-breaking second quarter. The quarter’s success was fueled by strong execution across our key markets, a full calendar of global sporting events, increased deposits, high customer retention, and margin expansion.”