Super Group reports strong 2025 results with $2.2 billion revenue

Super Group delivered a robust financial performance in 2025, reporting total revenue of $2.2 billion and profit before tax of $355.9 million. The results represent a substantial year on year improvement and reflect sustained operational momentum across several key international markets, particularly in Europe, Africa and North America.

The company, parent to the globally recognised Betway brand, achieved a 22 percent increase in total revenue compared to $1.8 billion recorded in 2024. This growth was primarily supported by customer expansion and higher activity levels in established jurisdictions including the United Kingdom and Canada, as well as continued resilience in African markets.

While overall performance remained strong, Super Group acknowledged that revenue declines in certain South American, Latin American and Asia Pacific markets partially offset gains elsewhere. The company’s financial disclosures indicate that these regional contractions were managed within the broader framework of disciplined cost control and strategic market prioritisation.

Fourth quarter revenue reached $578.3 million, representing an 8 percent increase from $533.3 million in the corresponding period of 2024. The quarterly uplift was driven by higher customer engagement and wagering volumes, although the company noted that certain unfavourable sports results toward the end of the quarter had a modest impact on margins.

Customer growth supports operational scale

A central driver of Super Group’s 2025 performance was the continued expansion of its customer base. Average monthly customers rose to 5.6 million during the year, compared to 4.8 million in 2024. In the fourth quarter alone, the figure reached 6.1 million, marking a 16 percent annual increase.

This sustained growth in active users demonstrates the scalability of the company’s operating model and the strength of its brand positioning in competitive regulated markets. Management attributes the increase to targeted marketing strategies, product enhancements and technology investments designed to improve user experience and retention.

Importantly, the rise in monthly active customers translated into higher wagering volumes and deposit activity. The fourth quarter set new records for monthly active customers, wagers and deposits, reinforcing the company’s operational momentum heading into 2026.

Profitability strengthens with improved margins

Super Group reported profit before tax of $355.9 million for the full year, a significant increase from $203.8 million in 2024. The improvement reflects not only higher revenue but also enhanced operational efficiency and disciplined cost management.

In the fourth quarter, profit before tax amounted to $95.1 million, slightly lower than the $103.3 million recorded in the same quarter a year earlier. The marginal decline was attributed in part to sports betting outcomes that were less favourable for the operator during the closing weeks of the year.

Adjusted EBITDA for 2025 rose sharply to $559.5 million, up from $356.8 million in 2024. This represents an increase of 57 percent and underscores the company’s expanding margin profile. Fourth quarter Adjusted EBITDA reached $139.0 million, compared to $125.9 million in the prior year period.

Alinda van Wyk, Chief Financial Officer of Super Group, stated:

“Financially, 2025 demonstrated the strength and scalability of Super Group’s model. Revenue grew 22% year-over-year to $2.2 billion and Adjusted EBITDA surged 57% to $560 million, representing an impressive margin of around 25%. We continue to maintain a strong balance sheet, closing the year with $513 million in cash. This liquidity supported $156 million in shareholder returns in 2025 and an additional $125 million special dividend declared this January and paid in February. For 2026, we are introducing guidance with total revenue of at least $2.55 billion and Adjusted EBITDA in excess of $680 million, while raising our quarterly dividends by a minimum of 25% to 5.0 cents per share. These targets reflect our continued customer momentum, operating leverage and disciplined capital allocation strategy.”

The company closed the year with $513 million in cash, reinforcing its liquidity position and providing flexibility for strategic initiatives and shareholder returns.

Strategic exit from U.S. iGaming market

During 2025, Super Group exited the United States iGaming market, a decision described by management as part of a broader strategy to concentrate resources in jurisdictions where the company expects more sustainable long term returns.

Neal Menashe, Chief Executive Officer of Super Group, commented:

“2025 was a standout year for Super Group. We sharpened our focus by exiting the U.S. iGaming market and concentrating resources in countries where we expect durable advantages – driving record customer growth. Despite some unfavorable sports outcomes late in the quarter, Q4 was another record-breaking period for monthly active customers, wagers and deposits. Importantly, we received the final regulatory approval for the Apricot transaction, paving the way to strengthen our ex-Africa sportsbook technology platform and position the business well for the years ahead.”

Adjusted EBITDA excluding the U.S. operations reached $573.5 million, while the U.S. business recorded a $14.0 million loss for the period prior to its exit. The company has indicated that redeploying capital away from this market is expected to enhance overall group returns and reduce exposure to regulatory and competitive pressures specific to that jurisdiction.

Apricot transaction and technology focus

Super Group confirmed that it received final regulatory approval for the Apricot transaction during the year. While detailed financial terms were not reiterated in the results summary, management emphasised that the transaction is designed to enhance its sportsbook technology platform outside Africa.

The strengthening of proprietary or enhanced technology capabilities remains a strategic priority for the group. Investment in platform stability, risk management systems and customer interface improvements is viewed as essential in maintaining competitiveness in regulated European and North American markets.

Dividend increase and shareholder returns

In line with its improved financial position, Super Group increased its annual dividend target from 16.0 cents per share to at least 20.0 cents per share for 2026. The first quarterly dividend of 5.0 cents per share is scheduled for payment on March 31, 2026 to shareholders on record as of March 16, 2026.

The increase follows the return of $156 million to shareholders during 2025, in addition to a $125 million special dividend declared in January 2026 and paid in February. Management has framed these distributions as part of a disciplined capital allocation framework balancing reinvestment, liquidity preservation and shareholder remuneration.

Strengthened liquidity through credit facility

In February 2026, Super Group secured a $100 million revolving credit facility provided by Barclays, JPMorgan Chase and Citibank. The facility matures in February 2029 and carries an interest rate of 1.5 percent plus applicable reference rates.

The revolving credit line is intended to support growth initiatives and general corporate purposes while providing additional financial flexibility. The establishment of this facility further reinforces the company’s liquidity position alongside its existing cash reserves.

2026 outlook and financial guidance

Looking ahead, Super Group has introduced formal guidance for 2026, projecting total revenue of at least $2.55 billion and Adjusted EBITDA exceeding $680 million. The targets reflect continued customer momentum, operational leverage and the anticipated benefits of focusing on core markets following the U.S. exit.

The company plans to publish its audited financial statements in early April 2026. Management has indicated that it will continue to monitor market conditions, regulatory developments and macroeconomic factors as part of its risk management approach.

Conclusion

Super Group’s 2025 results demonstrate a year of substantial financial progress characterised by double digit revenue growth, improved profitability and disciplined capital management. The company’s decision to exit the U.S. iGaming market and concentrate on jurisdictions where it perceives stronger structural advantages appears aligned with its objective of sustainable long term value creation.

With a strengthened balance sheet, increased dividend commitments and enhanced technology capabilities, Super Group enters 2026 with measurable financial momentum. While external factors such as regulatory changes and sports betting volatility remain inherent to the sector, the company’s published guidance signals confidence in its strategic direction and operating model.

Overall, the 2025 performance reflects a combination of customer growth, margin expansion and prudent financial stewardship. If current trends continue and projected targets are achieved, Super Group may further consolidate its position in key regulated markets while maintaining a balanced approach to growth and shareholder returns.

FAQs

What was Super Group’s total revenue in 2025?
Super Group reported total revenue of $2.2 billion for the full year 2025, representing a 22 percent increase compared to 2024.

How much profit before tax did Super Group record in 2025?
The company generated $355.9 million in profit before tax during 2025.

How did customer numbers change during the year?
Average monthly customers increased to 5.6 million in 2025, with 6.1 million recorded in the fourth quarter.

What was the Adjusted EBITDA for 2025?
Adjusted EBITDA reached $559.5 million for the full year, up significantly from 2024.

Did Super Group exit the U.S. market?
Yes, the company exited the U.S. iGaming market in 2025 to focus on other regions.

What dividend has been announced for 2026?
Super Group increased its annual dividend target to at least 20.0 cents per share, with quarterly payments of 5.0 cents per share.

How much cash did the company hold at the end of 2025?
The company closed the year with $513 million in cash.

What is the revenue guidance for 2026?
Super Group expects revenue of at least $2.55 billion in 2026.

What credit facility did the company secure?
In February 2026, Super Group secured a $100 million revolving credit facility maturing in 2029.

When will audited financial statements be published?
The audited financial statements are expected to be published in early April 2026.