Multi-brand operator Super Group posted record quarterly revenue in Q1 2025, driven in no small part by strong performance in Canada.

Super Group operates Betway sportsbook and online casinos such as Spin and Jackpot City in a variety of markets. In Ontario, it has licenses for those three brands, with Betway offering both sports betting and casino, plus the Ruby Fortune and Royal Vegas casinos. The company also serves Canadian customers in other provinces in the unregulated market.

Overall, Canadian revenues grew 13% last quarter year-over-year. The majority of that growth came outside Ontario. The company’s revenue in that regulated commercial market grew 2%, it rose 16% in unregulated provinces over the same period.

CEO Neal Menashe said that performance “highlights the continued strength of our brands across Canada, where profitability remains very good.”

In the U.S., Super Group shut down its Betway sports betting operations last year but operates Spin and Jackpot City in New Jersey and Pennsylvania. Menashe said the company will continue to evaluate both brands before deciding whether to launch more skins in the U.S.

Super Group knows ‘exactly what we need to do’ in Alberta

Super Group is reputedly the commercial market leader outside of Ontario, per H2 Gambling Capital data shown to Canadian Gaming Business. It has significant visibility in other provinces and ads for the brand’s site betway.net have been displayed frequently on rinkside boards at stadiums like Alberta’s Rogers Place during Edmonton Oilers games, including during last year’s Stanley Cup Final.

Like it did in Ontario, it sounds like the company intends to seek a license and step into Alberta’s regulated market when that province opens its doors. The provincial legislature passed enabling legislation this week, with a 2026 launch on the cards.

“We learned how we migrate our customers’ databases from Ontario and we’ve learned what maybe we didn’t do correctly,” Menashe told investors and analysts on an earnings call on Friday. “We will never make the same mistake twice, and that’s how we’ve always been.

“So, we wait for it. The product’s being built ready, we wait for all the regs [regulations] and we know exactly what we need to do there.”

North America no longer Super Group’s biggest market

In Q1, total North America revenue climbed 18.3% to $181 million, with Canadian revenue accounting for the bulk, but the continent’s share of group revenue dipped to 35%.

Overall, the company’s global revenue hit a record of $517 million in Q1 2025, 25% higher than Q1 last year. Bottom-line net profit reached $76 million, more than double last year. Adjusted EBITDA was $111.1 million, also more than double last year, while total monthly active customers across all brands increased 14% year-over-year to 5.3 million.

Across all global markets, sports betting and Betway are the primary revenue drivers, although Super Group’s online casino operations are growing at a faster rate. Africa has now supplanted North America as the market that makes up the biggest share of the company’s total revenue.

“We started 2025 on a high note,” Menashe said in the results report. “We delivered a strong Q1 with impressive revenue growth, a surge in customer acquisition, and effective retention strategies. Our combined revenue reached a record for a first quarter, fuelled by outstanding sports betting margins and consistent casino margins, as well as our ongoing efforts to optimise return on investment across all markets.”

Super Group open to acquisitions

Menashe added on the call that Super Group is continually looking at M&A opportunities and is in a position to strike if and when it sees an opportunity that is a good fit.

“We have the cash flow, we can buy anyone we want,” Menashe said. “But it’s got to the the right fit and make sense for the business.”