(AsiaGameHub) –   Super Group has significantly increased its focus on Africa, a move not widely replicated by other major global iGaming operators.

The company, which owns Betway and Spin, has experienced ongoing growth across the African continent and intensified its operations in Nigeria. In the first quarter of this year, $267 million of its total reported revenue of $612 million was generated from the region.

Consequently, the operator has revised its financial reporting segments, shifting from brand-based segmentation to an Africa and International regional segmentation.

Super Group explained that this change reflects its internal management structure and a strategic pivot towards regional performance and market-specific dynamics. It also aligns with internal reporting, resource allocation, and decision-making processes.

The operator stated: “The group believes this change will enhance the transparency of its financial reporting and provide stakeholders with more meaningful information regarding performance, risks, and opportunities in its key geographic markets.”

African opportunities

During the Q1 earnings call, Chief Executive Officer Neal Menashe and Chief Financial Officer Alinda van Wyk elaborated on the company’s strategies for the African market, highlighting numerous expansion opportunities within the region.

Van Wyk commented: “I’m glad to be able to share that transparency now with the market to see what it brings to Super Group, the difference between Africa and international, so it’s not so heavily weighted. The expectation probably was that it was very heavily weighted towards Africa. 

“Saying that, that gives us the ability to have really strong possibilities, to still have that market margin expansion and we always do it in two kinds of strategies. 

“One is our return on investment, how we make sure the marketing that we spend in that jurisdiction is very localised, it’s bespoke for our customers and we see strong returns on that. Secondly, our product mixes, getting that product really fit for purpose for that local market, getting the pricing right. 

“That really helps us with the expansion, not just in South Africa, but also in the rest of Africa and the margin bottom line.”

Menashe added: “We’ve got huge cross-pollination between the international side of the business and the African side. We’ve really, in the last six months, scaled that up from the call centres, same software to the risk and fraud, to all of that. We really are seeing super-efficient costs coming through there.

“Also in Africa, we’ve been pushing on different sports, Esoccer, cricket, tennis, etc, so it’s all coming together. We’ve also mentioned our trading; we are really getting stuck into the trading of all the various sports.”

Q1 financials: in numbers

Overall

• Revenue: $612m, up 18% year-on-year (YoY) (Q1 2025: $517m).  
• Profit: $86m (Q1 2025: $59m).  
• Adjusted EBITDA: $152m, up 36% YoY (Q1 2025: $111m).  
• Monthly Active Customers: 6.4 million, a record and up 18% YoY (Q1 2025: 5.4 million).   
• Cash and cash equivalents: $422m as of 31 March, 2026.

Africa revenue per segment

• iGaming: $190m (Q1 2025: $135m).
• Sportsbook: $77m (Q1 2025: $66m).

International revenue per segment and region

• iGaming: $299m (Q1 2025: $270m).
• Sportsbook: $38m (Q1 2025: $40m).
• Other: $2m (Q1 2025: $1m).
• America: $195m (Q1 2025: $186m).
• Europe: $113m (Q1 2025: $96m).
• Rest of World: $31m (Q1 2025: $29m).

Nigeria: top of our mind

During the first three months of the year, Super Group reported that Africa experienced strong momentum in sports and casino wagering, with a record January followed by customer-favorable results in February.

Trading product enhancements were also made throughout the quarter. The operator is continuing to expand its operations in Nigeria to bolster its growth trajectory.

Menashe stated: “Nigeria is an interesting one. We’ve been on the ground there, super interesting. I think what we have seen in the African continent, maybe led by Nigeria, is that the continent as a whole is doing much better. 

“The free flow of currencies is improving, so we have to listen. Double, triple our business size there, at least. It’s the largest population in Africa, it’s a growing TAM, getting our product right and that. We can build or buy across the ways, or we can do both, so it’s really top of our mind.”

Earlier this year, Menashe discussed the significance of the African iGaming market on iGaming Daily.