Super Group (SGHC) has reported its most successful quarter ever, achieving unprecedented revenue levels while gradually ceasing its operations in the U.S. to concentrate on more lucrative markets.
In the second quarter of 2025, the parent organization of Betway and Spin Casino announced total revenues of $579 million, marking a 30% rise from $447 million in the same quarter of 2024. This growth continues the trend from Q1 2025, where revenues were $516.8 million, reflecting a year-on-year increase of 25%.
The substantial growth was primarily driven by impressive results in Africa and Europe, now considered the main growth drivers for the global online sports betting and iGaming company following a strategic reevaluation of its market strategy.
«The first half of 2025 has been outstanding for us, culminating in a record-setting second quarter. This success is attributed to effective execution in our primary markets, a comprehensive schedule of international sporting events, higher deposit levels, strong customer loyalty, and improved margins,» stated Super Group’s CEO Neil Menashe.
«Our choice to exit the U.S. market was not easy, but we believe this decision underscores our focus on capital efficiency and long-term profitability. By concentrating on expanding our technology on a global scale, Super Group is poised for sustained and profitable growth,» he added.
Betway Continues to Be Super Group’s Leading Revenue Source
In Q2, Betway contributed $355 million to the company’s revenue, with Africa and the Middle East providing an impressive $225 million, a significant increase from $164 million in the previous year. Europe followed with $81 million, up from $49 million in Q2 2024.
After its withdrawal from the U.S. market, Betway is now focusing its North American operations solely in Ontario, Canada, where revenue slightly decreased to $37 million from $41 million last year.
Betway continues to offer betting markets for prominent esports titles including CS2, Dota 2, League of Legends, Rocket League, and others, in addition to its traditional sports markets.
Despite the reduced North American footprint, Spin has widened its presence in the region, recording $162 million in Q2 revenue, a notable increase from $120 million during the same quarter last year.
As of June 30, 2025, Super Group’s total assets stood at $1.1 billion, with liabilities amounting to $454 million and total equity of $662 million. The company reported $393 million in unrestricted cash and has no outstanding debt. Shareholders received $20 million in dividends this quarter, bringing the total returns over the past year to $166 million.
Encouraged by these strong results, the firm has adjusted its full-year Group Adjusted EBITDA forecast to between $470 million and $480 million. The Adjusted EBITDA excluding the U.S. operations is expected to reach up to $510 million, while operations in the U.S. are anticipated to incur a loss of $30 million, excluding one-time exit costs.
