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5. Super Group
Anyone with a share price app tracking leading listed gambling companies would probably have received their fair share of alerts in 2025 flagging that Super Group’s stock had just reached another new high. In fact, the company’s stock, which trades on the New York Stock Exchange, has climbed 92% so far this year (market cap of around $6bn), finally eclipsing the price it launched with in 2022 following a reverse merger with a special purpose acquisition company (SPAC). The markets appear bullish about the financial performance and direction of the company behind Betway and more than 20 casino brands, including Spin Casino and Jackpot City.
This increased investor confidence can partly be put down to Super Group’s decision to focus on profitable and high-growth markets and pull the plug on the cash burn that was the US. There have also been exits of late from countries including Sweden and Belgium, while bosses chose to pull out and eschew applying for a licence in Brazil ahead of regulation last January. Africa, however, was hailed “the new frontier” by Betway Africa CEO Laurence Michel at Super Group’s first Investor Day in September at its new London HQ. The continent (and the Middle East) accounts for two-fifths of company-wide revenue, while the Betway brand occupies podium positions in seven of its eight regulated African markets. So far in 2025, Betway has launched in Botswana and Jackpot City has been expanded from South Africa to Malawi, Tanzania and Ghana. Meanwhile, Betway’s migration from Vuvuzela to a new in-house tech stack for Africa, Synapse, has boosted frontend performance and navigation, according to the Investor Day presentation.
Sticking with its increased tech capabilities, AI is embedded across core functions. For instance, AI-powered market recommendations, as well as dynamic odds engines and price optimisation, helped lift sports betting gross margin to 13.9% in H1 2025, up from 11.8% for the corresponding period in 2024. The company is also embracing crypto; between Q1 and Q2 of this year, the value of its crypto deposits swelled 426% and there was a 116% increase in the volume of transactions. Africa is fuelling much of the growth. “Crypto is a massive opportunity,” CEO Neal Menashe triumphantly stated at the Investor Day, as he implored circumspect regulators to greenlight transactions in bitcoin and other cryptocurrencies.
Financials: Revenue for the first six months of 2025 totalled almost $1.1bn, up 28% YoY, and adjusted EBITDA (excluding the US) rose 56% to $268m
Strategy & impact: While Betway’s sports betting brand recognition is amplified by high-profile partnerships (Manchester City, Arsenal, Chelsea, etc), online casino still makes up about 80% of total group revenue
Geographic reach: North America (Ontario and the rest of Canada) accounts for 37% of revenue, though Africa (eight regulated markets) and the Middle East is the largest segment (38%)
Influence & leadership: Achieved global scale by straddling white and grey markets. Is going all-in on crypto, including launching its own stablecoin, Supercoin, pegged to South Africa’s rand
If you are lucky enough to be ranked a Power 50 operator, secure your place at the Power 50 Summit next April
The post EGR Power 50 2025: 5 – Super Group first appeared on EGR Intel.
Proudly sponsored by: 5. Super Group Anyone with a share price app tracking leading listed gambling companies would probably have received their fair share of alerts in 2025 flagging that Super Group’s stock had just reached another new high. In fact, the company’s stock, which trades on the New York Stock Exchange, has climbed 92%
The post EGR Power 50 2025: 5 – Super Group first appeared on EGR Intel.