Super Group’s UK revenue grew 13% year on year through its Betway and Spin brands. Group revenue reached $611 million, up 10%, with adjusted EBITDA up 8% to $165 million and net profit of $142 million.
Super Group Q3 UK revenue rose 13% year on year through its Betway and Spin brands, with group revenue up 10% to $611 million and adjusted EBITDA up 8% to $165 million. CEO Neal Menashe said the group is well placed to capture revenue as the UK market consolidates after tax rises announced since November 2025. UK remote gaming duty jumped from 21% to 40% from 1 April, and the machine games duty rose to 25% in the October budget. Africa still accounts for 43% of Q3 revenue at $262 million, with Namibia pending and Rwanda licences secured.
- Super Group’s UK Revenue and Profit
- Menashe’s UK Tax Consolidation View
- Africa’s 43% of Super Group Revenue
- The African Sportsbook and M&A Discipline
Super Group is looking for the opportunity inside a UK market that is shrinking. Its Q3 revenue from the UK market through Betway and Spin grew 13% year on year. Group revenue rose 10% to $611 million. Adjusted EBITDA jumped 8% to $165 million, producing net profit of $142 million for the quarter. The company is calling the tax increases the reason it can now mop up revenue from smaller operators that have exited the market.
Neal Menashe, chief executive of Super Group, told iGB the group is handling the changes better than many others. He credited an efficient operating structure and said the group had consolidated its UK businesses. His message to the market is clear: smaller operators are disappearing and the revenue they lost is available to be recaptured.
Super Group’s UK plan is built to absorb the market shakeout
The UK’s licensed sector has taken a hit following tax increases announced since November 2025. Some operators have exited entirely, while larger companies have closed shops and cut jobs. Super Group’s Q3 UK performance of $611 million in group revenue suggests the group is capturing a meaningful share of that churn.
Menashe said the group runs a lean machine, allowing it to consolidate its UK businesses and absorb some of the tax burden. He told iGB the group can mitigate parts of the increase through that structure. The implication is that Super Group has the balance sheet and margin discipline to keep spending on the market while smaller competitors retreat. That is the consolidation play, and it is being executed without an acquisition.
Menashe’s UK tax warning: more duties push operators underground
The remote gaming duty increase took effect from 1 April and lifted the UK’s online sector from 21% to 40%. The October Autumn Budget added another increase to the machine games duty for land-based operators, taking it from 20% to 25%. Menashe called the UK sector overtaxed and urged the government to find a balance that does not destroy the market.
His argument is simple. Raising the duty too high removes operators, and the revenue they leave behind is not collected by the state. Those operators become black-market players. The result is less protection for players, less responsible-gaming coverage and less tax. Menashe said the government should recognise the trade-off when deciding how far to push the increases.
Africa accounts for 43% of Super Group revenue
Africa contributed $262 million to Super Group’s Q3 revenue, a rise of almost 17% year on year. Online gaming on the continent was the engine, with revenue up 21.3% to $205 million. Africa accounted for 43% of the group’s Q3 revenue, making it the largest single market outside the UK.
Super Group is active in eight African countries and plans to launch in Namibia next year. It has also applied for authorisation in Kenya, where it previously held a licence before giving it up prior to its New York Stock Exchange listing in 2022. Menashe said the market has become attractive again following regulatory reforms and described the company’s return as a lesson learned.
Rwanda licences and a radically different African sportsbook
Super Group has secured licences to operate sports betting and casino in Rwanda. Menashe said Rwandan taxes are high but the group has secured the licences so it can increase marketing for its already-live product if the tax burden falls. His reasoning: missing a market change costs an opportunity that cannot be recovered.
The African sportsbook operates differently from the group’s international sports betting operation. Parlays account for around 70% of betting activity, with some bets going as deep as 30 legs. The average is 13 to 14 legs. Menashe called it almost a lottery business, and said the retention is there even when bettors win big. That model creates margin volatility tied directly to sporting results.
AGBrief covers the betting and gaming decisions shaping European and African markets.
Super Group’s $602m cash balance and disciplined M&A
Super Group finished Q3 with $602 million in cash and cash equivalents, leaving plenty of room for a larger acquisition if one becomes available. Menashe said the group’s approach to M&A is conservative, and that the group has not bought businesses like its own because the prices are too high. He said the group will only invest where it can add value and will not buy debt-laden standalone businesses.
iGaming Business has reported on Super Group’s listing and expansion plans for years.
Frequently Asked Questions
How did Super Group perform in Q3 2026?
Group revenue rose 10% to $611 million. UK revenue through Betway and Spin grew 13% year on year. Adjusted EBITDA was $165 million, up 8%, with net profit of $142 million for the quarter.
Why does Menashe see a UK opportunity?
Tax increases announced since November 2025 have forced smaller UK operators out of the market. Super Group is consolidating its UK businesses and expects to recapture the revenue and players left by those operators. The group’s UK revenue grew 13% year on year in Q3.
What are the UK tax rates now?
Remote gaming duty for online operators rose from 21% to 40% from 1 April. The machine games duty for land-based operators increased from 20% to 25% in the October Autumn Budget. Menashe said the UK sector is overtaxed and urged the government to reduce the burden.
How big is Super Group’s African business?
Africa generated $262 million in Q3 revenue, up almost 17% year on year. Online gaming contributed $205 million, up 21.3%, and the region accounted for 43% of group revenue. Super Group operates in eight African countries and will launch in Namibia next year.
Why is Kenya back on Super Group’s list?
Super Group previously held a Kenyan licence before giving it up prior to its New York Stock Exchange listing in 2022. The company paid back taxes, which turned out to be relatively small. Following regulatory reforms, it has re-applied and called the market the cheapest in Africa.
What is Rwanda’s role for Super Group?
Super Group secured licences to operate sports betting and casino in Rwanda, despite high tax rates. It wants the licences in place to ramp up marketing for its live product if taxes fall. Menashe said missing a tax change would cost a lost opportunity.
How does the African sportsbook differ?
Parlays account for about 70% of betting activity in Super Group’s African sportsbook, with an average of 13 to 14 legs and some bets reaching 30 legs. The model behaves like a lottery, producing margin swings tied to sporting results while retaining high customer retention.
This article has been thoroughly researched and reviewed by the CasinoBait editorial team to ensure accuracy and relevance for Asian casino players.
