Super Group, the parent company of Betway and Spin, has revised its full-year financial guidance following slower revenue growth in the third quarter of 2026, despite increased casino revenue and continued expansion in Africa.
The company now expects annual revenue of between $2.52 billion and $2.57 billion, compared with its previous forecast of more than $2.6 billion. Its adjusted EBITDA guidance has also been revised to $700 million to $720 million, replacing an earlier projection exceeding $710 million.
The revisions follow an upward adjustment to the company’s annual forecasts in August, when its second-quarter results benefited from betting activity associated with the FIFA World Cup.
Africa accounted for 43% of Super Group’s $606 million in reportable segment revenue during the third quarter, generating $262 million, compared with $224 million a year earlier. The region recorded year-on-year growth of 17%, exceeding the 5% increase reported by its international segment, which includes the Americas, Europe and the rest of the world.
CEO Neal Menashe also cited “strong profitability across Africa” in discussing the company’s performance.
Super Group reported quarterly revenue of $611 million, down 11% from the record $684 million recorded in the preceding quarter but nearly 10% above the corresponding period in 2025.
Adjusted EBITDA declined from $204 million in the second quarter to $165 million in the third quarter, although it remained 8% higher year-on-year. The company also reported profit increases of 15% quarter-over-quarter and more than 48% compared with the previous year.
Casino operations contributed to offsetting weaker sportsbook performance. Within the international segment, iGaming revenue increased by $20 million, while sportsbook revenue declined by $3 million.
Menashe attributed part of the pressure on quarterly performance to “customer-friendly sports results”, while emphasizing the contribution of casino operations. “Casino provides a durable earnings base that allows us to absorb short-term sports volatility,” he stated.
Separately, Super Group announced a $150 million share repurchase program on October 30, scheduled to run over the following 14 months.
Alinda van Wyk, Super Group’s CFO, said the decision reflected management’s “confidence in the long-term value of Super Group while preserving flexibility to continue investing in attractive organic and strategic opportunities.”
The company held $602 million in cash and cash equivalents as of September 30 and reported minimal debt, providing liquidity for the repurchase program and potential investments.
Super Group shares gained more than 7% over the five days following the buyback announcement and rose more than 3% after the third-quarter earnings release. The gains followed a six-month period during which the stock had declined approximately 13%.