Super Group Posts Record Quarter Results
Super Group has delivered record-breaking quarterly results, marking a significant milestone for the sports betting and gaming operator. The company’s latest financial performance demonstrates strong momentum across its business segments, evidently positioning it for continued expansion in competitive markets.
Accordingly, Super Group reported unprecedented financial metrics that exceeded previous quarters. The results reflect successful execution of the company’s growth strategy and operational efficiency improvements. Furthermore, the strong performance prompted management to raise its 2026 guidance while securing major partnerships to fuel future expansion. The quarter’s achievements highlight Super Group’s ability to capitalize on favourable market conditions and strategic initiatives that strengthen its position in the global gaming industry.
Super Group Reports Record-Breaking Financial Metrics
The company generated total revenue of GBP 486.03 million during the first quarter of 2026, representing an 18% increase from GBP 410.58 million in the same period of 2025. This growth translated into substantial profitability improvements across multiple financial metrics.
Adjusted EBITDA reached GBP 120.71 million in Q1 2026, marking a 36% year-over-year increase. The EBITDA margin expanded to 25% from 22% in the prior year period, demonstrating improved operational efficiency. Operating income climbed to GBP 95.30 million, up from GBP 71.47 million in Q1 2025. Similarly, the operating margin improved to 20% from 17% in the comparable quarter.
Customer acquisition and retention metrics reinforced the financial performance. Average monthly active customers reached a record 6.4 million during the quarter, an 18% increase year-over-year. March 2026 established a new monthly peak with 6.5 million customers, according to CFO Alinda Van Wyk on the earnings call. The expanding customer base, combined with margin improvements, reflects accelerating operating leverage after the company navigated challenges in late 2025.
Management Explains What Fuelled the Growth
CEO Neal Menashe attributed the quarter’s performance to Super Group’s casino-led business model, describing the casino operation as a “super reliable, steady, and constant engine” that generates approximately 80% of company revenue through predictable revenue streams. Management has focused on improving content discovery, personalization, gamification and incentive management to support retention and profitable customer behaviour.
CFO Alinda van Wyk credited disciplined cost management, controlled marketing spend and operating leverage for the financial results. The company achieved free cash flow conversion of 75% during the quarter, ending with GBP 335.14 million in cash despite returning GBP 120.71 million to shareholders.
Geographic expansion drove substantial gains. The Africa segment led growth with revenue climbing 33% and EBITDA rising 21%. The International segment posted revenue growth of 9% while adjusted EBITDA surged 26% to GBP 57.97 million. European revenue increased 18% year-over-year, with the U.K. advancing 29%. Menashe attributed U.K. performance to market share gains, record customer acquisition and product improvements.
In North America, Canada excluding Ontario grew 16%, while Ontario achieved a post-regulation record for new customers. Menashe noted that Botswana continued performing well and expressed confidence in Nigeria’s strengthening growth profile.
Super Group Raises 2026 Guidance and Secures Major Partnership
Super Group raised its full-year 2026 financial guidance following the record quarterly performance. Total Revenue expectations increased to greater than GBP 2.06 billion from the prior guidance of greater than GBP 2.03 billion. Adjusted EBITDA guidance climbed to greater than GBP 563.85 million, up from the previous target of greater than GBP 540.03 million.
In tandem with the guidance raise, Super Group announced a multi-year partnership between Betway and Manchester United. The agreement, worth approximately £20 million per season, makes Betway the club’s Principal Partner and Exclusive Global Betting Partner starting with the 2026/27 season. The deal represents the biggest standalone training kit sponsorship in world football history.
The Betway logo will appear on training kits for both Manchester United’s men’s and women’s teams, as well as prominently at Old Trafford and the Progress with Unity Stadium on matchdays. Neal Menashe noted that Manchester United’s global reach, particularly across Africa, aligns with Super Group’s key markets. Marc Armstrong, Chief Business Officer at Manchester United, stated the partnership reflects the club’s growth strategy and ability to attract leading brands.
The timing coincides with Premier League regulations prohibiting gambling companies on matchday shirt fronts beginning in the 2026/27 season, though the ban excludes training apparel.
