Super Group eyes three New Zealand licences as Q2 gains prompt FY guidance raise

Super Group is eyeing three online gambling licences in New Zealand, as the operator prepares to bid in the Department of Internal Affairs (DIA) upcoming licensing auction.

In Q2 the group, which has operated its Betway brand in New Zealand for some time, saw revenue in the region climb 14% year-over-year, despite reduced marketing spend.

CEO Neal Menashe said the market had helped rest of world revenue to increase 6% year-on-year.

Speaking to iGB following the Wednesday results call, CFO Alinda Van Wyk said: “We’ve been operating in New Zealand for many years and it already has quite a significant tax regime.

“At the time of the re-regulation there was a lot of noise around marketing, we didn’t market there because you don’t want to fall into the trap of a bad actor.”

Van Wyk confirmed Super Group would “probably apply for three licences”, out of the15 licences up for tender.

The New Zealand goverment opened its expression of interest (EOI) window in July, inviting operators to express interest in acquiring an online gambling licence in the market which is primed to launch in 2027.

Operators will be capped at three licences each. Entain, which currently operates the TAB sports betting monopoly in the region, has also said it will seek to apply for three licences in total.

The total market cap of 15 licences, alongside an eligibility requirement demonstrating the operator has access to a minimum of NZ$7.5 million in capital, reflects the government’s intent to limit market participation to a select group of well-capitalised, established operators. 

Gains in the UK

Moving on to the UK, the operator was pressed by analysts on the Wednesday call on its position in the market. Super Group does not split out its UK revenue within its results but the market contributed to a 19% uptick in revenue across Europe year-on-year to $132 million.

CEO Menashe said the operator had been gaining market share in the UK since the implementation of the Remote Gaming Duty tax hike in April.

“We’re not a major player in the UK, so there’s a lot of market share we are getting,” he said.

Van Wyk added: “Our marketing is really returning to what we’re spending at the moment, which is really a good strategy and we’re happy with that performance. 

“It is so important to note that by optimising marketing to becoming efficient in the way we operate in that market, would just deliver better margin in that jurisdiction.”

Super Group this week finalised a significant sponsorship deal with Premier League team Manchester United, to help increase its brand presence in both the UK and internationally, particularly across Africa.

Speaking after the call, Van Wyk told iGB the group was in a “fortunate position” in the UK.

Potential for UK M&A?

When asked whether she could foresee Super Group making any acquisitions in the market, as smaller operators reevaluate their position in the UK, Van Wyk said: “Somewhere down the line, I 100% believe that there would be also some operators, [which we could] plug market share into our business. We’re quite excited.”

Although its Betway brand has historically focused on sports betting in the UK, the CFO said it had been focused on improving its online casino product.

Product enhancements have been made across the operator’s suite, as it recently finalised a project to centralise its tech and product platforms. This, alongside marketing efficiencies, helped increase World Cup casino cross sell to 50% of new customers.

FY guidance increase and bottom line

The company has raised its full year revenue guidance to more than $2.6 billion (up from $2.55 billion) and adjusted EBITDA to be greater than $710 million.

Adjusted EBITDA for the quarter hit $204 million, up from $157 million in 2025. Profit also saw a significant uptick to $123 million, up from negative profitability last year (-$3 million).