Super Group, owner of Betway and Spin, reports impressive Q1 results and sets sights on Alberta’s upcoming regulated iGaming market.
Key Takeaways:
- Super Group’s Q1 revenue reaches $516.8 million, up 25% year-over-year
- Company prepares to enter Alberta’s iGaming market pending regulatory approval
- CEO emphasizes casino focus and global growth, targeting $2B revenue in 2025
Record Q1 Performance Fuels Expansion Plans
Super Group Ltd. has announced plans to enter Alberta’s soon-to-be-regulated iGaming market following a strong financial performance in Q1 2025. The company, which owns popular brands Betway and Spin, reported a 25% year-over-year increase in revenue, totaling $516.8 million.
CEO Neal Menashe expressed readiness to launch in Alberta once regulators give the green light. The iGaming Alberta Act has passed its third reading in the provincial legislature and now awaits Royal Assent to become law. While the market may not open until late 2026, Menashe revealed that Super Group has already begun developing Alberta-specific products.
Financial Highlights and Market Position
Super Group’s Q1 results demonstrate continued success across key metrics. Net profit rose to $59.4 million, while adjusted EBITDA more than doubled to $111 million. The company attributes this growth to new customer acquisition, cost control, and effective marketing strategies.
Canada has played a crucial role in Super Group’s North American success, contributing significantly to the region’s $181 million Q1 revenue. In Ontario, the only regulated province, Super Group has secured an 8% market share, positioning itself just behind industry leaders bet365 and FanDuel.
Global Growth and Casino Focus
Menashe emphasized product development and customer engagement as key components of Super Group’s strategy. The company’s online casino division, including brands Spin and Jackpot City, accounts for 80% of its business and continues to show strong growth in both regulated and grey markets.
Africa emerged as Super Group’s top-performing region, with revenue increasing 39% year-over-year to $203 million. The company attributes this success to favorable sports betting margins and tech-savvy customers.
Despite [ exiting ](https://www.gamblingnews.com/news/super-group-to-exit-the-us-sports-betting-market/) the US sports betting market in 2024, Super Group’s focused approach has paid dividends. The company ended Q1 with $351 million in available cash and distributed $95.7 million in dividends during the quarter.
Future Outlook and Alberta Expansion
Super Group maintains its forecast of surpassing $2 billion in annual revenue by 2025. As Alberta progresses toward iGaming regulation, the company is poised to leverage its expertise, scale, and financial resources to establish a strong presence in Canada’s next major market.
The iGaming landscape in Canada continues to evolve, with Ontario [ celebrating ](https://www.gamblingnews.com/news/ontario-celebrates-three-years-of-igaming-as-growth-continues/) three years of regulated online gambling. Super Group’s expansion into Alberta represents a strategic move to capitalize on the growing Canadian market and further solidify its position as a leading global iGaming operator.
I remember the first time I saw Kai Tak, Hong Kong’s gambling city, I thought I was in a fairy tale. All the lights blinking, the music and the monumental buildings, what 9-year-old wouldn’t think they’ve come to a magical place? It was my father who brought me, dragging me along and when inside I was hit by the smell of frying duck. As soon as I hit 21 I returned to Kai Tak, A bit nervous to see if my mind had embellished the memory, but it hadn’t. Kai Tak was still a magical place. I decided I wanted to spend as much time as I could at this place, so I did.
