Key Moments:
- Super Group has projected double-digit growth in Alberta following the region’s anticipated iGaming launch in 2026.
- The company’s North American revenue rose 14% year-on-year for the quarter ending September 30, 2025, representing 33% of its global total.
- Super Group reported record customer engagement in Q3, reaching 5.5 million monthly active users and a net profit of about $135 million CAD.
Strategic Positioning in Canada
Super Group, which owns brands such as Betway, Spin, and Jackpot City, is preparing to leverage its experience from Ontario’s regulated environment as Alberta gears up for its own iGaming rollout. Anticipating a launch in 2026, company leaders believe their expertise and established presence in the Canadian market will allow them to move quickly when regulations take effect.
Financial Performance and Market Share
The group reported a 14% rise in North American revenue for the quarter ended September 30, 2025. This boost was attributed to higher deposit volumes and robust player retention. North America accounted for 33% of the company’s total revenue during the period, ranking second to Africa’s 40% share.
According to CEO Neal Menashe, “We’ve learned our lessons in Ontario,” as he discussed recent results during an earnings call. Menashe revealed that a new casino client will be launched in Ontario in the next quarter, enhancing the product offerings, and expressed confidence that such moves will benefit the impending expansion into Alberta. He noted, “I would say Alberta would be higher teens, etc. We would expect to be close to what else we see in Canada.”
At its September investors’ day, Super Group updated stakeholders by pushing its Alberta launch forecast to the second half of 2026, underscoring its intention to secure a license and maintain a leading position when the province’s regulations take shape.
Ontario Operations and Upcoming Launches
In Ontario, Super Group runs five approved platforms: Betway, Spin, Jackpot City, Royal Vegas, and Ruby Fortune. The company contends with over 80 licensed competitors in the province. Growth in this competitive landscape has been modest, with Ontario revenues up only 5% in Q2 and 3% in Q3. Menashe recognized that these figures are “below expectations,” but pointed to innovative marketing and solid brand recognition as reasons for optimism. A new casino brand is slated for launch in Ontario in early 2026, aimed at spurring growth both locally and in anticipation of Alberta’s entry.
Online Casino Segment Outpaces Sports Betting
Super Group’s revenue streams remain dominated by online casino operations. In Ontario, more than 80% of total wagering revenue is attributed to iCasino products, mirroring the company’s broader results. Quarterly global revenue climbed 26% year-over-year to around $784 million CAD, with 84% of that from casino activity. Casino-specific revenue saw a 21% annual jump, supported by Canadian gains.
Sports betting showed less pronounced growth in Ontario, with Betway’s revenue increasing 5%, while global growth (excluding the U.S.) hit 23%, and figures exceeded 30% in Europe and Africa.
| Segment | Ontario Growth | Global Growth (ex. U.S.) | Europe & Africa Growth |
|---|---|---|---|
| Betway Sports Betting Revenue | 5% | 23% | Over 30% |
Record Engagement and Upgraded Guidance
The third quarter marked a new high point for customer engagement, with 5.5 million monthly active users and a year-on-year increase of 18%. This audience grew to six million by the end of September. Reported net profit reached roughly $135 million CAD, nearly nine times higher than the same quarter in 2024. Adjusted EBITDA also increased 65% to $214.4 million CAD.
In response to these metrics, Super Group raised its full-year revenue and EBITDA forecasts. Management shared renewed confidence in its Canadian momentum and North American foothold as Alberta prepares to follow Ontario into the regulated iGaming space.
- Author
Daniel Williams
