Super Group achieved revenue growth of 22% in its 2025 financial year, the company revealed on Tuesday.
Revenue for the 12-month period increased $396.8 million year-on-year to approximately $2.2 billion, driven largely by strong performance in Africa, where revenue shot up by 27% year-on-year. Super Group said Botswana was “leading the charge” after the company’s launch there in February 2025.
Super Group CEO Neal Menashe described 2025 as a “standout year”, while also commenting on the company’s decision to exit its final US markets in July last year, due to concerns over long-term profitability.
“We sharpened our focus by exiting the US iGaming market and concentrating resources in countries where we expect durable advantages – driving record customer growth,” Menashe added.
Monthly average customers rose by 17% to 5.6 million, from 4.8 million in 2024.
Profit before tax increased 74.6% to $355.9 million, while adjusted EBITDA also ticked up to $559.5 million from $356.8 million the year prior.
The company has made a concerted push in Africa in 2025, entering new markets and launching a stablecoin in South Africa to support the growth of digital currencies and appeal to crypto consumers.
Q4 revenue ‘below expectations’ despite European strength
Despite a strong year, Super Group’s Q4 revenue ended “below expectations”, despite it increasing 8% year-on-year to $578 million. Adjusted EBITDA reached $139 million, up from the $125.9 million reported in the same quarter of 2024.
Profit before tax, however, fell to $95.1 million from $103.3 million in Q4 2024.
Super Group’s Q4 revenue growth was largely driven by a 23% year-on-year surge in Europe, with the UK a particular highlight thanks to a 37% revenue rise. Spain’s revenue also edged up by 5%.
Revenue in Africa in Q4 was up by 7%, while North America ex-US increased by 10%. APAC revenue was up 6% year-on-year, despite New Zealand declining by 5%.
There was a notable disparity in Super Group’s Q4 sports betting and online casino performance.
Ex-US online casino revenue increased 19% to $473 million, with Europe (+33%), Africa (+28%) and Canada (+11%) performing particularly well.
The UK was again a key highlight, with online casino revenue rising by 41%. The same percentage rise in online casino revenue was also observed in Ghana.
In contrast, though, ex-US sports betting revenue plummeted 20% to $95 million, with Super Group attributing the decline to customer-friendly sports outcomes in December, which featured the Africa Cup of Nations as well as the Champions League and English Premier League.
Menashe was still enthused by Super Group’s Q4 performance, stating: “Despite some unfavourable sports outcomes late in the quarter, Q4 was another record-breaking period for monthly active customers, wagers and deposits.”
Super Group sets sights on further double-digit growth in 2026
In a January business update, Super Group said it expected to meet its 2025 revenue guidance of between $2.17 billion and $2.27 billion, as well as adjusted EBITDA of between $555 million and $565 million.
It did indeed meet both those targets, leaving the company with cash and cash equivalents of $513 million as of 31 December 2025.
Super Group has once again targeted double-digit growth for FY26.
Its guidance for FY26 is total revenue of at least $2.55 billion, which would mark year-on-year growth of over 15%. Adjusted EBITDA, meanwhile, is expected to reach $680 million, an increase of 21.5%.
The operator expects tailwinds from the Fifa World Cup tournament, which starts in June, as well as reinvestment into high-growth markets.
Alinda van Wyk, the company’s CFO, said 2025 demonstrated the “strength and scalability” of Super Group’s model.
She was confident the company will meet its 2026 guidance, explaining: “These targets reflect our continued customer momentum, operating leverage and disciplined capital allocation strategy.”
Kyle Goldsmith
Kyle has been with Clarion since December 2023, joining from the world of sports journalism, subsequently becoming a LatAm-facing senior reporter with iGB.
Original article: https://igamingbusiness.com/finance/super-group-fy25-revenue-africa-growth-botswana/
