Super Group Lowers 2026 Targets

Super Group lowered its 2026 revenue and adjusted EBITDA targets because sports results in the third quarter went in favor of customers. The company had raised its targets three months earlier. Under the new expectation, adjusted EBITDA will be between $700 million and $720 million. In August, it had set a target above $710 million. The revenue range was set between $2.525 billion and $2.575 billion, and this figure also fell below the outlook of more than $2.6 billion given in August.

Finance Director Alinda van Wyk said that results going in favor of customers pulled the sports margin below its 24-month average of 13.7 percent. Management estimates this has an impact of about $25 million on quarterly adjusted EBITDA. The new forecasts assume the sports margin will remain within its normal range in the fourth quarter.

Looking at the details, the casino side stands out. In the international segment, iGaming revenue rose 6.9 percent to $310 million. iGaming revenue in Africa increased 21.3 percent to $205 million. Revenue in Europe came to $115 million, and management said UK revenue grew 13 percent. The company also announced a new buyback program of $150 million. Cash reached $602 million at the end of September, and about $223 million was paid to shareholders over the last twelve months.