Table of Contents
The company holds licenses in over 20 jurisdictions and employs more than 3,500 people globally. Under CEO Neal Menashe’s leadership since January 2021, Super Group has achieved remarkable momentum. The company posted three consecutive quarters of record-breaking results in 2025. In 2025, Super Group announced a strategic exit from the US market to focus capital on higher-return international markets. Africa and the Middle East now represent the company’s largest revenue contributor at 40% of total revenue. The company raised its full-year 2025 guidance to $2.17-$2.27 billion in revenue and $555-$565 million in adjusted EBITDA.
Company History
Betway was founded in 2006 as an online sports betting platform. CEO Neal Menashe co-founded Win Technologies in 2001, which was acquired by Betway Group in 2011. This merger brought advanced CRM and technology capabilities to Betway. The company launched its Spin multi-brand casino offering to diversify revenue streams. In January 2022, Super Group completed its NYSE listing via SPAC merger at a $4.75 billion valuation. The company is headquartered in Saint Peter Port, Guernsey, with offices spanning 17 countries.
CEO Profile
Neal Menashe has served as CEO since January 2021 and brings over two decades of online gaming experience. He qualified as a chartered accountant at Arthur Andersen in 1998. Menashe co-founded Win Technologies in 2001, building it into a leader in online marketing and CRM solutions. Under his leadership, Super Group achieved record quarterly revenue three times in 2025. He steered the strategic US market exit in 2025 to prioritize capital efficiency. Menashe holds a Bachelor of Commerce in Accountancy from the University of Cape Town. His data-driven approach has delivered consistent margin expansion and profitable growth across core markets.
Key Business Segments & Revenue Streams
Super Group operates through two distinct brands serving different customer segments. Betway is the premier sports betting brand offering sportsbook and casino entertainment under a single global brand. It features over 50 brand partnerships with major sports teams and leagues worldwide. Spin operates as a multi-brand online casino with approximately 16 different casino brands. This portfolio approach allows targeted marketing to specific customer demographics. In Q3 2025, Betway generated $341 million in revenue while Spin contributed $216 million. Online casino accounts for the majority of revenue at 82%, with sports betting representing 16%. The remaining 2% comes from brand licensing and other revenue streams.
Financial Profile
Super Group demonstrated exceptional financial momentum in 2025 with accelerating revenue growth. The company posted 26% year-over-year revenue growth in Q3 2025, building on 30% growth in Q2 and 25% growth in Q1. Adjusted EBITDA margins expanded significantly to 27% in Q2 2025, up from 20% in Q2 2024. This margin improvement reflects operational efficiency gains and focused capital allocation. The company maintains a debt-free balance sheet with $461.9 million in cash as of September 2025. Super Group returned $166 million to shareholders over the trailing twelve months through dividends. The strategic US exit positions the company for sustained profitability in high-return international markets.
Financial Data
Core Financial Metrics (Last 3 Years)
| Metric | 2023 | 2024 | 2025 (9 Months) |
|---|---|---|---|
| Revenue | $1.55 B | $1.84 B | $1.65 B |
| Net Income | -$8.6 M | $113.5 M | $154.4 M |
| Adjusted EBITDA | $198.2 M | $330.3 M | $419.9 M |
| EBITDA Margin | 12.8% | 18.0% | 25.4% |
| Cash Position | $241.9 M | $355.8 M | $461.9 M |
Revenue by Region (Last 3 Years)
| Region | 2023 | 2024 | 2025 Q3 |
|---|---|---|---|
| Africa & Middle East | 37% | 39% | 40% |
| North America | 33% | 35% | 34% |
| Europe | 18% | 19% | 19% |
| Other Markets | 12% | 7% | 7% |
Latest Financial Report
Super Group reported Q3 2025 results in early November 2025 showing continued momentum. Revenue reached $556.9 million, up 26% year-over-year from $442.1 million. Adjusted EBITDA climbed 65% to $152.1 million with a 27% margin. Monthly active customers hit 5.5 million, marking 18% growth. The company achieved these results despite customer-friendly sports outcomes in September. Management raised full-year guidance to $2.17-$2.27 billion in revenue and $555-$565 million in adjusted EBITDA. Cash position remained strong at $461.9 million with zero debt.
12-Month Earnings Summary
For the twelve months ending September 2025, Super Group generated approximately $2.04 billion in trailing revenue representing 21% growth. The company posted adjusted EBITDA of approximately $500 million with expanding margins throughout the year. Africa emerged as the fastest-growing region with nearly 40% year-over-year revenue growth. Monthly active customers grew 18% to reach 6 million by Q4 2025. The company returned $166 million to shareholders through dividends over the trailing twelve months. Super Group’s strategic US exit, completed in Q4 2025, is expected to improve capital efficiency and profitability from 2026 onwards.
References
- Super Group Reports Financial Results for Third Quarter of 2025 – Business Wire
- Super Group Reports Financial Results for Second Quarter of 2025 – Business Wire
- Super Group Reports Financial Results for First Quarter of 2025 – Business Wire
- Super Group Reports Financial Results for Fourth Quarter of 2024 – Business Wire
- Super Group Reports Financial Results for Full Year 2023 – Super Group Investor Relations
- Neal Menashe CEO Profile – Super Group Official Website
- Super Group to Exit US States, Raises 2025 Revenue Guidance – iGaming Business
- Our Story – Betway Group
- Super Group (SGHC) Stock Quote – New York Stock Exchange
- Super Group Reports 26% Revenue Rise and Lifts 2025 Guidance – iGaming Future
