Super Group Raises 2026 Outlook After Record Second Quarter
Super Group Reports $684 Million Q2 Revenue – Full-Year Outlook Raised After Record Performance
Key Takeaways
- Super Group reported $684 million in revenue for the second quarter of 2026, up 18% year over year.
- Quarterly profit reached $123 million, compared with a $3 million loss in the same period of 2025.
- Adjusted EBITDA rose 30% to $204 million, with margin reaching 30%.
- Monthly active customers increased 13% to 6.2 million.
- The company raised its full-year 2026 revenue and EBITDA guidance.
Second Quarter Revenue and Profitability Improve Across Key Metrics
Super Group, the parent company of Betway, Spin, Jackpot City Casino and Lucky Nugget Casino, generated $684 million in revenue during the second quarter of 2026. This represents an 18% increase compared with $579 million in the same quarter a year earlier.
The company reported a quarterly profit of $123 million. In the second quarter of 2025, Super Group had recorded a $3 million loss. The latest figures therefore mark a significant year over year turnaround in net results.
Adjusted EBITDA for the quarter rose 30% to $204 million. The company stated that this brought its EBITDA margin to 30%, the highest level recorded so far. According to the company, the quarter delivered record results across revenue, adjusted EBITDA, deposits and wagering.
Monthly active customers increased by 13% to 6.2 million, indicating broader user engagement across its brands.
Geographic Performance Shows Strong Growth in Africa
By region, Africa delivered the strongest revenue growth. Revenue from African markets rose 36% year over year to $310 million.
International revenue, which covers Europe and the Americas, increased 7% to $368 million. Within this segment, iGaming revenue reached $325 million, up from $299 million in the second quarter of 2025. Sportsbook revenue within the same international segment declined slightly to $42 million from $44 million a year earlier.
The company had exited the US regulated market following its second quarter results last year. According to the latest earnings release, the current quarter shows no impact from that exit.
Product Segments: Online Casino and Sports Betting Both Expand
By product line, online casino continued to represent the largest share of revenue. Online casino revenue increased 16% year over year to $527 million.
Sports betting revenue rose 29% to $150 million. The company pointed to increased betting activity around the FIFA World Cup in June as a driver of quarterly performance.
The combination of higher casino revenue and increased sports betting activity contributed to record quarterly deposits and wagering, according to the company.
Cash Position, Capital Allocation and Apricot Acquisition
Super Group ended June with $548 million in cash and cash equivalents. This compares with $513 million at the end of the previous year. The company reported no debt.
Operating activities generated cash inflows of $248 million during the quarter. Investing outflows totaled $58 million. This included a $28 million payment made in March related to the acquisition of Apricot sportsbook. Super Group assumed full ownership of Apricot in February.
Financing outflows amounted to $157 million. During the quarter, the company returned $25 million to shareholders through dividends. Over the trailing 12 months, total capital returned to shareholders reached $218 million.
Sponsorship Agreement with Manchester United
During the quarter, Betway signed a training kit sponsorship agreement with Manchester United. The agreement was reached in the context of the Premier League’s voluntary ban on front of shirt gambling sponsorships.
The partnership strengthens Betway’s brand visibility through a training kit arrangement rather than a front facing match shirt sponsorship.
Full-Year 2026 Guidance Raised
Following the second quarter performance, Super Group increased its full-year 2026 financial outlook.
The company now expects total revenue to exceed $2.6 billion. Its previous forecast had been more than $2.55 billion. Adjusted EBITDA is now projected to exceed $710 million, compared with prior guidance of more than $680 million.
According to CEO Neal Menashe, the second quarter produced all time highs in several operational metrics. He attributed part of the performance to the commercial boost from the FIFA World Cup and highlighted the company’s casino led and diversified business model.
Our Assessment
Super Group’s second quarter results show revenue growth, improved profitability and higher customer activity across its online casino and sports betting operations. The company reported no debt, increased cash reserves and positive operating cash flow, while also completing the acquisition of Apricot sportsbook and returning capital to shareholders. Based on the reported figures, the stronger than expected quarterly performance led management to raise full-year revenue and adjusted EBITDA guidance for 2026.
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