Africa drives 30% revenue growth for Super Group in Q2

Africa drives 30% revenue growth for Super Group in Q2

Summary

NYSE-listed Super Group posted record quarterly revenue of $579.4 million in Q2 2025, a 30% year-on-year increase, driven principally by stronger activity in Africa (and the Middle East), plus growth in Europe and North America. Monthly active customers rose 21% to 5.5 million. The group delivered a quarterly record adjusted EBITDA of $156.7 million, raised full-year adjusted EBITDA guidance and finished the quarter with $393 million in unrestricted cash and zero debt. The company also announced a full exit from the US market, which will incur a one-off cost.

Content summary

Super Group’s Q2 performance was powered by gains across Africa, Europe and North America, offset partially by declines in Latin America, the Middle East (certain pockets) and Asia-Pacific. Africa and the Middle East together accounted for 40% of group revenue in Q2 (up from 37% a year earlier), making the region the group’s largest segment. Profit before tax was $38.8 million and the company raised its full-year adjusted EBITDA guidance to $470–$480 million (and its ex‑US adjusted EBITDA target to $500–$510 million).

The group reported a $5.4 million EBITDA loss in the US during the quarter and said the remaining iGaming operations in New Jersey and Pennsylvania will be closed as it fully exits the US, a move expected to cost $30–$40 million. Management framed the exit as a step towards improved capital efficiency and long-term profitability.

Context and relevance

Super Group’s results underline a broader industry shift: African markets are becoming a major growth engine for global operators as penetration, product mix and retention improve. For investors and competitors, the combination of strong cash balances, rising margins and a strategic pullback from loss-making US exposure signals a focus on profitable scale. Regulatory and market dynamics in each region will determine whether this momentum is sustainable.

Key Points

• • Quarterly revenue rose 30% year-on-year to $579.4 million — a record for the group.
• • Monthly active customers increased 21% to 5.5 million (from 4.5 million in Q2 2024).
• • Africa & the Middle East accounted for 40% of Q2 revenue, up from 37% a year earlier.
• • Q2 adjusted EBITDA was a record $156.7 million, despite a $5.4 million EBITDA loss in the US.
• • Profit before tax was $38.8 million; unrestricted cash was $393 million with zero debt at quarter-end.
• • Full-year adjusted EBITDA guidance raised to $470–$480 million; ex‑US adjusted EBITDA target upped to $500–$510 million.
• • The company will fully exit the US iGaming market (NJ and PA closures), with an expected exit cost of $30–$40 million.
• • Africa & Middle East revenue rose 38.8% year-on-year in Q2 (from $165m to $229m); H1 for the region rose from $317m to $432m.
• • Super Group is a top-three player in seven of its eight African markets; Ghana showed particularly strong growth (sports betting +48%, casino +71%).

Why should I read this?

If you care about where real iGaming growth is coming from, this is the one-paragraph cheat-sheet: Super Group’s Africa push is paying off, it’s trimming unprofitable US exposure, and it’s sitting on healthy cash and rising margins. We read the numbers so you don’t have to — quick, useful and to the point.

Source

Source: https://igamingbusiness.com/finance/quarterly-results/super-group-record-revenue-q2/