Super Group Cuts 2026 Revenue Guidance After Sports Betting Drag

Super Group lowered its 2026 revenue guidance on 5 November 2026 after weaker sports betting outcomes damaged third-quarter performance, even as quarterly revenue reached $611 million driven by casino growth and stronger results in Africa. The Betway and Spin owner now expects full-year revenue between $2.525 billion and $2.575 billion, down from a prior forecast of more than $2.6 billion.

Q3 results and the revised full-year view

Revenue for the third quarter reached $611 million, up nearly 10% year-on-year from the prior comparable period. Adjusted EBITDA for the quarter was $165 million, an 8% increase year-on-year but below the $204 million reported in Q2. Super Group expects full-year adjusted EBITDA of between $700 million and $720 million versus an earlier target above $710 million.

CEO Neal Menashe attributed the downgrade to unusually favourable sports outcomes for customers.

"Customer-friendly sports results" reduced operator returns and cost Super Group approximately $40 million in revenue and $25 million in adjusted EBITDA, Menashe said.

The revised forecast assumes sports betting margins return to normal levels in Q4 2026.

Geography and product mix

Africa remained the strongest regional performer in Q3. Revenue in Africa increased 17% to $262 million, representing about 43% of reportable segment revenue. The international division, covering the Americas, Europe and other markets, grew 5%.

Casino operations also contributed materially: casino gross revenue rose 16% year-on-year across the group, with online casino revenue in the international division increasing by $20 million while sportsbook revenue fell by $3 million. The company highlighted casino as providing a steady earnings base that helped offset sports volatility. A related overview of casino performance is available in our casino coverage.

Profit, capital return and liquidity

Quarterly profit rose to $142 million from $96 million a year earlier. The board approved a share repurchase programme of up to $150 million on 30 October 2026 to run through December 2027. Super Group held $602 million in cash and cash equivalents at the end of September and reported minimal debt.

CFO Alinda van Wyk said the buyback reflected management confidence in Super Group's long-term value while preserving flexibility for future investments.

"The buyback reflects management confidence in the long-term value of Super Group while preserving flexibility for future investments," van Wyk said.

The company pointed to the FIFA World Cup-driven uplift that produced record Q2 results earlier in the year, but Q3 dynamics prompted the trimmed 2026 revenue range of $2.525bn–$2.575bn.