Super Group lowered the top end of its 2026 revenue forecast due to a run of sports results that favoured customers, even though third-quarter revenue rose 10% to $611 million. The owner of Betway and Spin, a NYSE-listed company, published unaudited results for the quarter ending November 3, 2026. Profit for the period came to $142 million, compared with $96 million a year earlier.
The new guidance calls for revenue of $2.525 billion to $2.575 billion and adjusted EBITDA of $700 million to $720 million. Unfavourable sports results cut revenue by about $40 million and adjusted EBITDA by about $25 million. The sports margin fell to 12.1%, below the rolling 24-month average of 13.7%, meaning sports betting took the biggest hit.
In the UK, the group reports revenue for the Betway and Spin brands. According to CEO Neil Menashe, it grew 13% year on year in the third quarter. Menashe said the group has merged all its British businesses into a single structure, which partly offsets higher taxes. Smaller operators, he said, are leaving the market, and Super Group expects to capture their revenue. The tax increase on the online sector comes through budget legislation: the Remote Gaming Duty rate will rise from 21% to 40% from April 2026. Details are in a House of Commons Budget 2025: Gambling taxation briefing.
Africa remains the main driver: revenue rose 17% to $262 million, or 43% of the segment's revenue. iGaming on the continent brought in $205 million. The group has applied for a licence in Kenya, where it gave up a licence before its NYSE listing in 2022. The CEO said Kenya has become the cheapest tax regime in Africa, and the group expects to launch there in 2027. In Rwanda, Super Group has received licences for sports betting and casino, and will start marketing if taxes come down.
The next reporting milestone is the fourth quarter. According to Menashe, the quarter has started “excellent”, and the current $602 million in cash and the board-approved $150 million share buyback give the group room for deals that should complement the existing business.
