본문 : DOT ESPORTS - Jeremiah Sevilla

Indeed a super first half of the year.

Photo via Yogonet

Super Group (SGHC) has delivered the strongest quarter in its history, achieving record revenues even as it winds down its U.S. operations to sharpen its focus on more profitable regions.

For the second quarter of 2025, the parent company of Betway and Spin Casino reported total revenue of $579 million, a 30% increase from $447 million in Q2 2024. The performance extends the momentum from Q1 2025, when revenue reached $516.8 million, up 25% year-on-year.

The surge was fueled primarily by robust results in Africa and Europe, which have emerged as the global online sports betting and iGaming business company’s core growth engines following a strategic review of its market priorities.

“We had a Super first half of 2025, driven by a record-breaking second quarter. The quarter’s success was fueled by strong execution across our key markets, a full calendar of global sporting events, increased deposits, high customer retention, and margin expansion,” Super Group CEO Neil Menashe said.

“While our decision to exit the U.S. was difficult, we believe that this step demonstrates our commitment to capital efficiency and long-term profitability. With continued focus on scaling our technology globally, Super Group should be even better positioned for sustained, profitable growth,” Menashe added.

Betway remains the top revenue driver for Super Group

Betway booth in Ghana. Photo by @Owula_kpakpo

Betway generated $355 million in Q2 revenue, with Africa and the Middle East contributing a remarkable $225 million, a massive jump from $164 million a year earlier. Europe followed with $81 million, up from $49 million in Q2 2024.

Following its U.S. withdrawal, Betway’s North American operations are now concentrated solely in Ontario, Canada. Revenue in the region dipped slightly to $37 million from $41 million in the previous year.

Betway continues to offer betting markets for major esports titles such as CS2, Dota 2, League of Legends, Rocket League, and more, along with its traditional sports offerings.

While Betway’s North American exposure has shrunk, Spin has expanded its lead in the region. The brand posted $162 million in Q2 revenue, a significant increase from $120 million in the same period last year.

As of June 30, 2025, Super Group held total assets of $1.1 billion against $454 million in liabilities, with $662 million in total equity. The company reported $393 million in unrestricted cash and carried no debt. Shareholders received $20 million in dividends during the quarter, bringing total capital returns over the past 12 months to $166 million.

Buoyed by the strong results, the company raised its full-year Group Adjusted EBITDA forecast to between $470 million and $480 million. Its ex-US Adjusted EBITDA is expected to reach up to $510 million, while U.S. operations are projected to record a $30 million loss, excluding one-off exit costs.