Super Group Q2 2025 results: Revenue reaches $579.4m

Key points:

– Revenue reached a record $579.4m, up 30% year-on-year

– The company reported a 78% increase in adjusted EBITDA to $157m, with a 27% margin

– The company announced its exit from the US iGaming market

Super Group has released its financial results for the second quarter of fiscal year 2025, reporting new highs in both revenue and adjusted earnings. The group owns online betting and gaming brands including Betway, Sportingbet and Spin.

Financial overview

Total group revenue for Q2 2025 reached $579.4m, marking a 30% increase year-on-year. The quarter also saw group adjusted EBITDA rise to $157m, up 78% from Q2 2024, with the corresponding EBITDA margin standing at 27%.

As of 30 June 2025, the company reported no debt and held $393m in consolidated unrestricted cash. During the quarter, $20m was paid out in dividends, bringing the trailing twelve-month dividend total to $166m.

Regional performance summary

Europe

The company reported growth in both sports and casino verticals in the UK, with sports revenue increasing by 120% and casino revenue by 75% year-on-year. Spain posted a 44% increase in casino revenue, while Ireland also showed stable results, though specific figures were not disclosed.

Africa

Growth was reported across both sports and casino products. Seven out of eight African markets where the company operates were noted to hold podium positions in market performance.

Botswana, a newly launched market, experience strong post-launch performance. Ghana saw sports revenue grow by 48% and casino revenue by 71%.

Americas

The US posted record growth during the quarter prior to the company’s announced exit from the iGaming market. In Canada, sports revenue was flat overall, with a slight decline of 0.1%. Ontario grew by 7%, while other parts of Canada declined by 3%. Canadian casino revenue rose by 20% and regions outside Ontario saw a 24% increase.

Rest of world (LatAm and APAC):

Performance in New Zealand was affected by macroeconomic conditions, currency fluctuation and ongoing technology consolidation. The company exited the Brazilian market in November 2024 and reported weak performance in Mexico.

Good to know: Super Group will publish condensed interim accounts for the six months ending 30 June 2025 by the end of August 2025

Future outlook

Excluding US operations, the company revised its full-year adjusted EBITDA guidance upward to a range of $500–$510m. This compares to the previously issued guidance of $480m.

The company is exiting the US iGaming market due to recent regulatory changes affecting long-term profitability. One-off costs include a $63.9m non-cash goodwill and asset impairment, $22.6m related to onerous contracts in Q2 2025 and approximately $6m in cash closing costs expected in Q3 2025.

Super Group’s Q2 2025 results build on the momentum seen in Q1, when revenue rose 25% year-on-year to $516.8m, net profit increased to $59.4m and adjusted EBITDA grew 120% to $111.1m.