Super Group Plans Alberta Expansion After Record Q1 Revenue Boost

Super Group Ltd., which owns Betway and Spin, aims to enter Alberta’s upcoming regulated iGaming market after outstanding financial results in the first quarter of 2025. 

Super Group Poised for Alberta Entry as iGaming Legislation Nears Final Approval

CEO Neal Menashe said the company stands ready to join Alberta once regulators give their approval setting it up for a strong market debut.

The iGaming Alberta Act, which just passed its third reading in the provincial legislature, now needs Royal Assent to become law. While the market might open by late 2026, Menashe pointed out that the company has already started to create its Alberta-specific products and will try to avoid the early problems it faced when launching in Ontario.

Super Group’s Q1 results show its ongoing success. The company’s revenue hit $516.8 million, a 25% jump from last year’s same quarter. Net profit climbed to $59.4 million, while adjusted EBITDA more than doubled to $111 million. The company credits this growth to bringing in many new customers, keeping operational costs in check, and using smart marketing tactics.

Canada played a key role in Super Group’s North American success, making a big impact on the region’s $181 million Q1 revenue. Ontario stands as the only regulated province, but the company has gained ground in unregulated areas of Canada, like Alberta. Super Group now holds an 8% market share in Ontario just behind top players such as bet365 and FanDuel.

CEO Highlights Casino Focus and Global Gains as Super Group Targets $2B in 2025

Menashe stressed the need to develop products and engage customers as part of the company’s plan, noting that 80% of Super Group’s business comes from its online casino division. Spin and Jackpot City, its main casino brands, keep growing strongly in both regulated and grey markets.

Around the world, Super Group saw its biggest growth in Africa where Betway keeps growing fast. The company’s money from this area went up to $203 million, 39% more than last year, making Africa its best market. The company says this is because of good sports betting profits and customers who know how to use technology well.

Even though Super Group left the US sports betting market in 2024, focusing on areas that do well has paid off. At the end of the first quarter, the company had $351 million in cash it could use, and it gave out $95.7 million in dividends just in that quarter.Super Group maintains its prediction of reaching over $2 billion in yearly sales by 2025. As Alberta moves toward regulating online gambling, the company stands ready to use its know-how, size, and money to get a strong start in Canada’s next big market.