$684M Revenue, Raised 2026 Guidance: Neal Menashe and Alinda Van Wyk Lead Super Group’s Record Quarter

The headline beat is clean. But the regional mix underneath it is where the real strategy shows.

Super Group closed the second quarter of 2026 with revenue of $684m, up 18% year on year, and profit of $123m against a $3m loss in the same period last year. Adjusted EBITDA rose 30% to $204m, and management was confident enough to raise full-year guidance. The Super Group Q2 2026 results read as a straightforward record quarter. The more interesting detail sits in the geographic breakdown – and it points somewhere most of the industry isn’t looking.

What the Super Group Q2 2026 results actually show

Start with the numbers, because they’re strong. Revenue of $684m, up from $579m. Adjusted EBITDA of $204m at a 30% margin, up 30% year on year. Monthly active customers of 6.2m, up 13%. Cash of $548m at the end of June, even after the group returned $218m to shareholders over the trailing twelve months.

CEO Neal Menashe framed it plainly: “The second quarter generated record performance across Super Group, marking all-time highs in Revenue, Adjusted EBITDA, deposits and wagering.” He credited the FIFA World Cup boost alongside the casino-led model – and it’s worth taking that at face value. A World Cup quarter is a real tailwind. It’s also a one-off. The comparability that matters will come in the quarters without a global tournament propping up the sportsbook side.

On the back of the quarter, the company lifted its full-year 2026 guidance to more than $2.6bn in revenue, from a prior floor of $2.55bn, and to more than $710m in Adjusted EBITDA, up from $680m. CFO Alinda van Wyk linked the upgrade directly to how the business has been performing, rather than to any one-off.

The number the headline misses

Here’s the part operators should sit with. A year ago, the Americas made up 36% of Super Group’s reportable revenue. This quarter it was 29%. Africa went the other way – from 40% to 46%. In dollar terms, Africa segment revenue jumped to $310m from $228m, driven by both iGaming ($202m) and sportsbook ($108m). The Americas actually shrank slightly, to $200m from $204m.

So the growth is real, but it’s increasingly regional. The engine is Africa, not the US market that dominates industry conversation.

The operator read

For platform heads and content directors, this is a live data point, not a curiosity. It says the diversified, casino-led model is doing exactly what it was designed to do – compounding revenue and cash from markets where competition is thinner and player bases are being built rather than fought over. If you’re weighing where to allocate acquisition budget or which regional licences to chase in 2026, Super Group’s mix is a signal that the under-covered markets are pulling their weight. Diversification here looks less like a hedge and more like the offensive play.

The caveat worth naming

Two honest complications. First, the World Cup flattered the quarter, and the company says so – the sportsbook uplift won’t repeat at the same intensity. Second, the source material is unaudited interim data, and Super Group itself notes the full-year 2025 figures aren’t a like-for-like comparative to the half-year. The trend is clear; the precision isn’t absolute. A steadily rising cash pile and a guidance raise are hard to argue with, but a single strong quarter built partly on a global tournament shouldn’t be read as a permanent run-rate.

What operators should watch next 

The two things to watch over the next six to twelve months are the regional balance and the brand spend. If Africa keeps taking share of the mix, Super Group’s story becomes less “global diversified operator” and more “the operator that won the markets others ignored” – a different and arguably stronger position. Meanwhile the new Betway-Manchester United partnership, which Menashe cited directly, is a large brand bet whose return will show up in acquisition and engagement numbers over the coming quarters rather than this one. Watch whether that spend converts into durable customer growth, or simply into visibility.

For an industry still fixated on the US, this quarter is a quiet reminder that the growth map is wider than the headlines suggest.

Source: Super Group