Super Group raises 2025 forecast after better-than-expected Q3

Super Group, owner of the Betway sportsbook and Spin online casino brands, has lifted its full-year revenue and earnings guidance after reporting that third-quarter trading outperformed expectations.

Guidance raised on stronger results

The company now expects 2025 revenue to come in between $2.125bn and $2.200bn, up from its earlier forecast of just above $2.04bn. Adjusted EBITDA is projected in the range of $550m to $560m, compared with a previous estimate of $470m to $480m.

Management pointed to stronger results in sports betting, steady casino activity, and operational efficiencies as key drivers.

“Our performance through the third quarter continues to demonstrate the resilience of our model and the strength of our execution,” said Chief Executive Neal Menashe. “We’re seeing strong contributions from both sports and casino, deeper customer engagement, and continued margin improvement across key markets.”

CFO Alinda van Wyk added that improved cost ratios were supporting margins. “The consistency of our financial performance this quarter gives us confidence in our ability to drive both top-line and margin expansion,” she said.

International gains, US exit

Most of the improvement is coming from the company’s international markets. Ex-U.S. revenue is now expected between $2.085bn and $2.160bn, with Adjusted EBITDA projected at $575 million to $585 million.

The U.S. business tells a different story: revenues are projected to top $40m for the year, but an Adjusted EBITDA loss of about $25m is expected. Super Group confirmed that it plans to close its US operations in the fourth quarter of 2025.