Super Group: Q3 2026 revenues fall 11% despite year-on-year growth
Revenues reached $611m; company announces $150m buyback to run over 14 months
Key Takeaways
- Super Group reported $611m in revenues in Q3 2026, down 11% from $684m in Q2 2026 but up 10% year-on-year.
- Adjusted EBITDA was $165m in Q3, below $204m in the prior quarter but 8% higher than Q3 2025.
- The company expects full-year adjusted EBITDA between $700m and $720m, versus previous guidance of over $710m.
- Super Group announced a share buyback programme of approximately $150m to be executed over the next 14 months.
- Africa generated $262m in Q3 revenues, up 17% year-on-year and about 43% of segment revenue.
Super Group recorded revenues of $611m in the third quarter of 2026, an 11% decline versus the record $684m reported in Q2 and a 10% increase on the same period in 2025. The operator of Betway and Spin maintained year-on-year gains in revenue and profitability, and announced a share buyback programme of around $150m to be executed over the next 14 months. The company said its casino operations remain a stable earnings base; see [casino operations](/casino) for context.
Key results for the quarter
The group reported adjusted EBITDA of $165m in Q3, below the $204m of the prior quarter, although this represented an 8% rise versus Q3 2025. Super Group increased net earnings by 15% quarter-on-quarter and more than 48% year-on-year. For the full year, the company expects adjusted EBITDA between $700m and $720m, versus its prior guidance of more than $710m.
"Casino provides a durable earnings base that allows us to absorb short-term sports volatility," said Neal Menashe, CEO of Super Group.
Alinda van Wyk, chief financial officer, added:
"Casino gross revenue increased 16%, while our long-term sports margin remains within our expected structural range."
Liquidity, market reaction and investor response
Super Group reported $602m in cash and equivalents at 30 September. The buyback announcement and results prompted a positive investor reaction on 30 October: the share price rose more than 7% over the following five days; the stock also recorded a 3% gain (period cited in reports). Market commentary and the trading move are covered in the company press releases and subsequent [news](/news).
Africa contributed $262m in revenues during Q3, 17% higher than the $224m a year earlier, and represented approximately 43% of the $606m in segment revenue for the period. The international segment, which includes operations in the Americas and Europe, grew 5% year-on-year; the company continues to position those operations alongside its B2B and partner activities [b2b](/b2b).
The group maintains a strong cash position and low leverage while executing the buyback over the next 14 months.
Frequently Asked Questions
How much did Super Group bill in the third quarter of 2026?
Super Group invoiced $611m in Q3 2026. That figure is an 11% decline versus $684m in Q2 2026 and a 10% increase against Q3 2025.
What was Super Group's adjusted EBITDA in Q3 2026?
Adjusted EBITDA was $165m in Q3 2026. This is below the $204m recorded in the prior quarter but represents an 8% improvement year-on-year compared with Q3 2025.
What is the scope of the announced share buyback?
The announced buyback is for around $150m and will be executed over the next 14 months. CFO Alinda van Wyk said the programme reflects the group's confidence in its long-term value.
How important is Africa to the group's revenues this quarter?
Africa generated $262m in revenues in Q3 2026, 17% more than the $224m a year earlier, and accounted for approximately 43% of the $606m in segment revenues for the period.
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About the author
Emilio Navarro
Industry Technology Correspondent
Emilio Navarro covers the cross-cutting technology and business of iGaming — platforms, data and AI, compliance tooling, affiliate marketing, financial results, and the stories that fit no single rubric. The reports open with the announcement, cite vendors and figures exactly as published, and keep a healthy distance from press-release language. When a supplier unveils a new engine or the advertising rulebook changes, Emilio Navarro reports what genuinely changes.
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