Super Group Limited, the parent company of online platforms Betway and Spin, has reported record financial results for the first quarter of 2026. Revenue reached $612 million, marking an 18 per cent year-on-year increase.
Key financial highlights
Key financial highlights include revenue growth of 18 per cent year-on-year in Q1 2026, reaching $612 million. Profit for the period was $86 million, up from $59 million in the same period a year earlier. Adjusted EBITDA increased by 36 per cent to $152 million, with a margin of 25 per cent. As of 31 March, the company held $422 million in cash and cash equivalents.
The average number of monthly active customers grew by 18 per cent, from 5.4 million to 6.4 million.
Operating cash flow for the quarter was $87 million. Capital expenditure totalled $41 million, of which $28 million was allocated to the acquisition of sports betting software. Financial outflows amounted to $129 million, driven primarily by dividend payments and partially offset by $25 million drawn on a credit facility. Over the trailing 12 months, total capital returns to shareholders reached $213 million. Currency losses for the quarter were $8 million.
Executive comment
Chief Executive Officer Neal Menashe (pictured) described the quarter as ‘historic’. ‘We reached all-time highs in revenue, monthly active customers, deposits and betting volumes,’ he said. ‘This is the result of our strategy, our strong brand, and the discipline of our team. Africa delivered excellent results, and the international segment is gaining momentum. We have strengthened our leadership team through key appointments, and we are preparing for the FIFA World Cup by enhancing our sports trading capabilities. We are confident in our position for the rest of the year,’ he explained.
Chief Financial Officer Alinda van Wyk added, ‘The balance sheet is robust with $422 million in cash, even after paying $152 million in dividends to shareholders. We are reaffirming our 2026 guidance of revenue above $2.55 billion and adjusted EBITDA above $680 million. This is underpinned by casino stability, regional execution, and operational leverage.’
New segment structure: Africa and International
From the first quarter, Super Group has moved to a new way of reporting. It has replaced its previous Betway and Spin segments with two geographic segments: Africa and International. The company said that the change shows how its internal management structure has changed and how it is focusing more on regional differences. It also says that the change will make risks and opportunities in key areas clearer for investors.
Total segmental revenue for the quarter was $606 million, compared with $512 million in Q1 2025 (excluding brand licensing fees of $6 million and $5 million, respectively).
Africa was the strongest-performing segment, growing 33 per cent year-on-year:
| Product | Q1 2026 | Q1 2025 |
| iGaming | $190m | $135m |
| Sportsbook | $77m | $66m |
| Africa Total | $267m | $201m |
International grew 9 per cent, with iGaming remaining the primary driver:
| Product | Q1 2026 | Q1 2025 |
| iGaming | $299m | $270m |
| Sportsbook | $38m | $40m |
| Other | $2m | $1m |
| International Total | $339m | $311m |
Africa’s share of combined segmental revenue increased from 39 per cent to 44 per cent, while International’s share edged down from 61 per cent to 56 per cent.
Within the International segment, Europe contributed $113 million, up 18 per cent year-on-year. North America, primarily Canada, grew 5 per cent to $195 million.
Revenue by region:
| Region | Q1 2026 | Q1 2025 | Share of 2026 Revenue |
| Africa | $267m | $201m | 44% |
| Americas | $195m | $186m | 32% |
| Europe | $113m | $96m | 19% |
| Rest of World | $31m | $29m | 5% |
Source: Super Group.
Full-year guidance reaffirmed
Super Group is still expecting to make more than $2.55 billion in revenue and more than $680 million in Adjusted EBITDA this year. The company is expecting to do even better because of the FIFA World Cup, as it is a major sporting event which attracts significant sports betting activity. Management noted that the company’s strong financial position and steady cash flow support ongoing returns to shareholders.
To give an idea of the size of the company, Super Group made $2.2 billion in the year 2025. In the last three months of 2025, the company made $578.3 million, with a profit of $95.1 million before tax. For the whole year, the company made $355.9 million. Adjusted EBITDA for 2025 was $559.5 million for the year and $139 million for the last three months of the year. As of 31 December 2025, the group had $513.2 million in cash and similar investments.
*Adjusted EBITDA is a non-GAAP, non-IFRS metric used to assess operational performance excluding one-off items.
This article was originally published in Russian on 12 May 2026.
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