Super Group experienced a slowdown in revenue growth in the third quarter of 2026. Despite this, the operator of Betway and Spin still posted year-on-year increases in revenue and profitability.
In Q3, revenue totaled $611 million, reflecting an 11% decrease from the record $684 million in Q2, but a 10% rise compared to the same quarter in 2025. Notably, Super Group improved its profits by 15% from the previous quarter and more than 48% year-over-year.
The group now anticipates a full-year adjusted EBITDA between $700 million and $720 million, slightly down from an earlier forecast exceeding $710 million. Adjusted EBITDA for Q3 came in at $165 million, down from $204 million in the second quarter but up 8% from Q3 2025.
CEO Neal Menashe attributed the slightly weaker outlook to favorable sports results for customers that impacted the company's performance during the quarter. He stated, "Casino provides a durable earnings base that allows us to absorb short-term sports volatility."
CFO Alinda van Wyk noted, "Casino gross revenue increased 16%, while our long-term sports margin remains within our expected structural range."
The company also revealed a $150 million share buyback program, set to unfold over the next 14 months, which Van Wyk described as a reflection of the group's confidence in its long-term value. As of September 30, Super Group reported $602 million in cash and cash equivalents. Following the announcement on October 30, investors reacted positively, with Super Group's share price climbing over 7% within five days, and the stock also gained 3%.
Africa has become a significant market for Super Group, contributing $262 million in revenue for Q3, which marks a 17% increase from $224 million in the same period last year. This accounted for approximately 43% of the total segment revenue of $606 million for the quarter. Revenue growth in Africa has surpassed that of the International Segment—which includes the Americas, Europe, and other regions—where revenue rose by 5% year-over-year. With solid cash reserves and minimal debt, Super Group has positioned itself as a formidable player in the international betting and gaming landscape.
