Betway Owner Super Group Cuts 2026 Revenue Forecast

Super Group, the parent company of Betway and Spin, has lowered its 2026 financial guidance after weaker sports betting results affected third-quarter earnings. However, online casino growth and stronger performance in Africa helped quarterly revenue reach $611 million.

Good to know

• Super Group now expects 2026 revenue between $2.525 billion and $2.575 billion, below its previous forecast of more than $2.6 billion.
• Africa revenue increased 17% to $262 million, while casino gross revenue grew 16% across the business.
• The Betway owner approved a $150 million share buyback program despite reducing its annual forecast.

Super Group Announces $150 Million Share Buyback

Super Group plans to repurchase up to $150 million in shares through December 2027, following approval from its board on October 30.

The online gambling operator ended September with $602 million in cash and cash equivalents and minimal debt, providing funding for shareholder returns and further investment.

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

Meanwhile, quarterly profit reached $142 million, up from $96 million a year earlier, even as revenue fell from the record $684 million reported in Q2.

Africa and Online Casino Revenue Support Betway Owner

Africa remained a major source of growth for Super Group during Q3 2026.

Revenue across the region climbed 17% to $262 million, accounting for approximately 43% of total reportable segment revenue.

The international division, covering the Americas, Europe and other markets, recorded slower growth of 5%. Within that business, online casino revenue increased $20 million, while sportsbook revenue fell $3 million.

CEO Neal Menashe also highlighted “strong profitability across Africa” and credited casino operations for helping offset weaker sports betting returns.

“Casino provides a durable earnings base that allows us to absorb short-term sports volatility,” Menashe stated.

Across Super Group, casino gross revenue increased 16% year-over-year, demonstrating the importance of iGaming alongside sports betting.

Sports Betting Results Force Lower 2026 Forecast

Super Group now expects full-year adjusted EBITDA between $700 million and $720 million, compared with its earlier target exceeding $710 million.

The downgrade follows an August forecast increase after FIFA World Cup betting activity helped deliver record second-quarter results.

However, “customer-friendly sports results” affected Q3 performance, according to Menashe. Favorable outcomes for bettors reduced operator returns, costing Super Group approximately $40 million in revenue and $25 million in adjusted EBITDA.

Despite the weaker quarter-on-quarter performance, revenue increased nearly 10% year-over-year to $611 million. Adjusted EBITDA reached $165 million, an 8% annual improvement but below the $204 million recorded in Q2.

The revised forecast assumes sports betting margins return to normal levels during the fourth quarter.

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