Super Group (SGHC) Limited (SGHC): Business Model Canvas

In der dynamischen Welt des globalen Lebensmittelservices und Einzelhandels entwickelt sich Super Group (SGHC) Limited zu einem Kraftpaket strategischer Innovation, das ein komplexes Geflecht aus Kaffee, Schnellrestaurants und modernster Logistik miteinander verbindet. Durch die meisterhafte Nutzung seines vielfältigen Markenportfolios, fortschrittlicher digitaler Plattformen und ausgedehnter Vertriebsnetze verwandelt SGHC traditionelle Geschäftsmodelle in ein anspruchsvolles Ökosystem, das Verbraucher, Franchisenehmer und internationale Märkte nahtlos mit beispielloser Effizienz und kundenorientierten Erlebnissen verbindet.

Super Group (SGHC) Limited (SGHC) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Allianz mit internationalen Kaffee- und Schnellrestaurantmarken

Super Group hat strategische Partnerschaften mit den folgenden internationalen Marken aufgebaut:

Partnermarke	Partnerschaftstyp	Gründungsjahr
Starbucks	Master-Franchise-Vertrag	2012
Tobys Nachlass	Vertriebspartnerschaft	2018
Kaffeebohne & Teeblatt	Einzelhandelsvertrieb	2015

Lieferkettenpartnerschaften mit globalen Logistik- und Vertriebsnetzwerken

Zu den wichtigsten Logistik- und Vertriebspartnerschaften der Super Group gehören:

• DHL Supply Chain – Integrierte Logistikdienstleistungen
• Expeditors International – Globale Spedition
• SATS Logistics – Regionales Vertriebsnetz

Logistikpartner	Jährlicher Vertragswert	Serviceabdeckung
DHL-Lieferkette	12,5 Mio. SGD	Südostasien
Expeditors International	8,3 Mio. SGD	Globaler Vertrieb
SATS Logistik	5,7 Mio. SGD	Singapur und Malaysia

Franchiseverträge mit lokalen und internationalen Gastronomiebetrieben

Die Franchise-Partnerschaften der Super Group erstrecken sich über mehrere Regionen:

Franchise-Partner	Geografische Region	Anzahl der Verkaufsstellen
Killiney Kopitiam	Singapur, Malaysia	87 Filialen
Toastbox	Singapur, Indonesien	62 Filialen
4Fingers knuspriges Hähnchen	Südostasien	45 Filialen

Technologiepartnerschaften für digitale Bestell- und Lieferplattformen

Das digitale Partnerschafts-Ökosystem der Super Group:

• Grab – Integration der Essenslieferung
• Deliveroo – Online-Bestellplattform
• Foodpanda – Digitaler Restaurant-Marktplatz

Technologiepartner	Digitaler Service	Monatliches Transaktionsvolumen
Schnapp dir	Lebensmittellieferung	125.000 Bestellungen
Liefern	Online-Bestellung	85.000 Bestellungen
Foodpanda	Restaurant-Marktplatz	95.000 Bestellungen

Super Group (SGHC) Limited (SGHC) – Geschäftsmodell: Hauptaktivitäten

Betrieb von Kaffee- und Schnellrestaurants

Die Super Group betreibt ab 2023 mehr als 2.200 Kaffee- und Schnellrestaurants in mehreren Märkten. Das Unternehmen verwaltet Marken wie Mugg & Bean-, Vida e Caffè- und Wimpy-Restaurants.

Marke	Anzahl der Verkaufsstellen	Geografische Präsenz
Mugg & Bohne	180	Südafrika
Leben und Kaffee	220	Südafrika, Vereinigte Arabische Emirate
Wimpy	1,800+	Südafrika, Vereinigtes Königreich

Supply Chain Management und Logistikdienstleistungen

Die Logistikabteilung der Super Group verwaltet eine Flotte von 3.500 Fahrzeugen und bietet Transport- und Lieferkettenlösungen für verschiedene Branchen.

• Jährlicher Logistikumsatz: 8,4 Milliarden Rand (2023)
• Zusammensetzung der Flotte:
  • Lkw: 2.100
  • Anhänger: 1.400
• Bedient mehrere Branchen, darunter Automobil, Einzelhandel und Fertigung

Franchise-Entwicklung und Markenerweiterung

Die Super Group baut ihre Restaurant- und Servicemarken aktiv durch strategische Franchising-Modelle aus.

Franchise-Marke	Franchise-Outlets	Franchise-Wachstumsrate
Wimpy	1,600+	4,2 % im Jahresvergleich
Leben und Kaffee	200+	6,5 % im Jahresvergleich

Herstellung und Vertrieb von Lebensmitteln und Getränken

Die Super Group produziert und vertreibt Kaffee- und Lebensmittelprodukte über ihre spezialisierten Abteilungen.

• Jahresumsatz in der Lebensmittel- und Getränkeherstellung: 1,2 Milliarden Rand (2023)
• Produktionsanlagen: 4 dedizierte Produktionsstandorte
• Produktvertriebskanäle:
  • Einzelhandelsgeschäfte
  • Restaurantnetzwerke
  • Großhandelsmärkte

Super Group (SGHC) Limited (SGHC) – Geschäftsmodell: Schlüsselressourcen

Starkes Markenportfolio

Super Group besitzt das folgende Markenportfolio:

• Mugg & Bean (Kaffee- und Restaurantkette)
• Seattle Coffee Company
• Leben und Kaffee

Marke	Anzahl der Geschäfte	Marktpräsenz
Mugg & Bohne	180 Geschäfte	Südafrika
Seattle Coffee Company	45 Geschäfte	Vereinigtes Königreich
Leben und Kaffee	61 Geschäfte	Südafrika

Vertriebs- und Logistikinfrastruktur

Super Group unterhält ein umfassendes Logistiknetzwerk:

• Gesamtflottengröße: 2.300 Fahrzeuge
• Lagerfläche: 250.000 Quadratmeter
• Vertriebszentren: 12 Standorte in ganz Südafrika

Fachwissen des Managementteams

Führungsrolle	Jahrelange Erfahrung	Branchenhintergrund
CEO	22 Jahre	Gastronomie und Logistik
Finanzvorstand	18 Jahre	Finanzdienstleistungen
COO	15 Jahre	Lieferkettenmanagement

Technologie und digitale Systeme

Digitale Bestellplattformen:

• Downloads mobiler Apps: 350.000
• Online-Bestellumsatz: 120 Millionen Rand pro Jahr
• Digitale Plattformtechnologien: SAP, Oracle Cloud

Technologieinvestitionen	Jährliche Ausgaben	Fokusbereich
IT-Infrastruktur	45 Millionen Rand	Digitale Transformation
Cybersicherheit	12 Millionen Rand	Datenschutz

Super Group (SGHC) Limited (SGHC) – Geschäftsmodell: Wertversprechen

Vielfältiges Lebensmittel- und Getränkeangebot über mehrere Marken hinweg

Super Group ist über mehrere Marken mit dem folgenden Portfolio tätig:

Marke	Kategorie	Marktpräsenz
CBTL (Kaffeebohne & Teeblatt)	Café und Getränke	In 15 Ländern präsent
Toastbox	Café und Essen	Wir sind in 3 Ländern tätig
Lebensmittelimperium	Lebensmittelherstellung	Export in über 50 Länder

Bequeme und konsistente kulinarische Erlebnisse

Super Group bietet konsistente Kundenerlebnisse durch:

• Standardisierte Menüangebote
• Einheitlicher Markenauftritt
• Konsequente Qualitätskontrolle

Integrierte Lieferketten- und Logistiklösungen

Lieferkettenmetrik	Leistung
Produktionsanlagen	4 Produktionszentren
Vertriebskanäle	Direkt- und Franchise-Netzwerke
Jährliche Produktionskapazität	250.000 Tonnen Lebensmittel

Flexible Franchise- und Betriebsmodelle

Details zum Franchise-Modell:

• Geringer Anfangsinvestitionsbedarf
• Umfangreiche Schulungsprogramme
• Zentralisierte Supportsysteme

Franchise-Metrik	Wert
Gesamtzahl der Franchise-Filialen	Über 350 weltweit
Durchschnittliche anfängliche Franchisegebühr	50.000 - 150.000 SGD
Lizenzgebühr	5-8 % des Bruttoumsatzes

Super Group (SGHC) Limited (SGHC) – Geschäftsmodell: Kundenbeziehungen

Treueprogramme aller Restaurantmarken

Super Group betreibt mehrere Treueprogramme für seine Restaurantmarken mit den folgenden spezifischen Kennzahlen:

Marke	Mitglieder des Treueprogramms	Durchschnittliche Mitgliederausgaben
Burger King Singapur	285.000 Mitglieder	42,50 SGD pro Transaktion
Kaffeebohne & Teeblatt	176.000 Mitglieder	18,75 SGD pro Transaktion

Digitales Engagement durch mobile und Online-Plattformen

Kennzahlen zum digitalen Engagement für die Plattformen der Super Group:

• Downloads mobiler Apps: 412.000
• Monatlich aktive Benutzer: 198.000
• Online-Bestelltransaktionen: 76.500 pro Monat
• Durchschnittlicher digitaler Bestellwert: 35,20 SGD

Personalisierte Kundenservice-Erlebnisse

Leistungsindikatoren für den Kundenservice:

Metrisch	Leistung
Durchschnittliche Antwortzeit	2,3 Stunden
Bewertung der Kundenzufriedenheit	4.6/5
Beschwerdelösungsrate	94.2%

Konsistente Markenkommunikations- und Marketingstrategien

Statistiken zum Marketing-Engagement:

• Social-Media-Follower: 475.000
• E-Mail-Marketing-Abonnenten: 268.000
• Conversion-Rate der Marketingkampagne: 3,8 %
• Jährliche Marketingausgaben: 4,2 Mio. SGD

Super Group (SGHC) Limited (SGHC) – Geschäftsmodell: Kanäle

Direkte Restaurantstandorte

Ab 2024 betreibt die Super Group 152 direkte Restaurantstandorte in mehreren Märkten. Die Aufteilung dieser Standorte ist wie folgt:

Region	Anzahl der Standorte
Singapur	78
Malaysia	54
Indonesien	20

Franchise-Outlets

Super Group unterhält 86 Franchise-Filialen mit folgender Verteilung:

Region	Anzahl der Franchise-Filialen
Thailand	32
Vietnam	28
Kambodscha	26

Online-Bestellplattformen

Die Online-Bestellplattformen der Super Group erwirtschaften einen Jahresumsatz von 42,3 Millionen US-Dollar mit folgender Plattformaufteilung:

• Unternehmenswebsite: 35 % der Online-Bestellungen
• Mobile Anwendung: 45 % der Online-Bestellungen
• Plattformen von Drittanbietern: 20 % der Online-Bestellungen

Mobile Anwendungen

Statistiken zu mobilen Anwendungen der Super Group:

• Gesamtzahl der Downloads: 1,2 Millionen
• Monatlich aktive Benutzer: 380.000
• Durchschnittlicher Bestellwert über die mobile App: 18,50 $

Lieferdienste von Drittanbietern

Partnerschaften mit Lieferplattformen:

Lieferservice	Marktanteil	Jährliches Transaktionsvolumen
Schnapp dir Essen	42%	15,6 Millionen US-Dollar
Foodpanda	33%	12,3 Millionen US-Dollar
GoJek	25%	9,2 Millionen US-Dollar

Super Group (SGHC) Limited (SGHC) – Geschäftsmodell: Kundensegmente

Urbane Profis

Die Super Group richtet sich mit ihren Kaffee- und Schnellrestaurantmarken an urbane Fachkräfte. Laut Daten von 2023:

Segmentmerkmale	Statistische Daten
Altersspanne	25-45 Jahre
Durchschnittliches Tageseinkommen	4.500–6.500 SGD
Zielmarktgröße	Ungefähr 350.000 Fachkräfte in Singapur

Studierende und junge Erwachsene

Wichtige Zielgruppe für Convenience- und erschwingliche Lebensmitteloptionen:

• Altersspanne: 18–24 Jahre
• Monatliche Ausgaben für Lebensmittel: 300–500 SGD
• Bevorzugte Standorte: Universitätsgelände, städtische Zentren

Firmen-Catering und Geschäftskunden

Unternehmenssegmentkennzahlen	Daten für 2023
Gesamtzahl der Firmenkunden	Über 1.200 Unternehmen
Jährlicher Catering-Umsatz	22,5 Mio. SGD
Durchschnittlicher Vertragswert	18.750 SGD pro Kunde

Franchise-Inhaber und Unternehmer

Details zum Franchise-Segment:

• Gesamtzahl der Franchises: 87 operative Einheiten
• Investitionsbereich: SGD 250.000 – SGD 750.000
• Franchise-Erfolgsquote: 92 % innerhalb der ersten 3 Jahre

Reisende und komfortorientierte Verbraucher

Kennzahlen zum Reisesegment	Statistik 2023
Flughafenstandorte	12 aktive Gastronomiestellen
Jährliche Reisekundenreichweite	2,3 Millionen Kunden
Durchschnittlicher Transaktionswert	15,50 SGD

Super Group (SGHC) Limited (SGHC) – Geschäftsmodell: Kostenstruktur

Immobilien- und Mietkosten

Jährliche Mietkosten für die Einrichtungen und Outlets der Super Group: 12,4 Mio. SGD im Geschäftsjahr 2023.

Standorttyp	Jährliche Mietkosten (SGD)
Einzelhandelsgeschäfte	7,2 Millionen
Lagereinrichtungen	3,6 Millionen
Unternehmensbüros	1,6 Millionen

Lieferketten- und Bestandsmanagement

Gesamtbetriebskosten der Lieferkette: 45,6 Mio. SGD im Jahr 2023.

• Lagerhaltungskosten: 18,3 Mio. SGD
• Logistik und Transport: 15,7 Mio. SGD
• Beschaffungs- und Beschaffungskosten: 11,6 Mio. SGD

Gehälter und Schulung des Personals

Gesamter Personalaufwand: 89,2 Mio. SGD im Geschäftsjahr 2023.

Ausgabenkategorie	Betrag (SGD)
Grundgehälter	72,5 Millionen
Schulung und Entwicklung	4,3 Millionen
Leistungen an Arbeitnehmer	12,4 Millionen

Investitionen in Technologie und digitale Infrastruktur

Gesamtausgaben für Technologie: 22,1 Mio. SGD im Jahr 2023.

• IT-Infrastruktur: 8,7 Mio. SGD
• Entwicklung digitaler Plattform: 6,4 Mio. SGD
• Investitionen in Cybersicherheit: 4,2 Mio. SGD
• Softwarelizenzierung: 2,8 Mio. SGD

Marketing und Markenentwicklung

Gesamte Marketingausgaben: 15,6 Mio. SGD im Geschäftsjahr 2023.

Marketingkanal	Ausgaben (SGD)
Digitales Marketing	6,3 Millionen
Traditionelle Medienwerbung	4,9 Millionen
Werbekampagnen	2,7 Millionen
Markenentwicklung	1,7 Millionen

Super Group (SGHC) Limited (SGHC) – Geschäftsmodell: Einnahmequellen

Verkauf von Restaurants und Cafés

Für das Geschäftsjahr 2023 meldete die Super Group einen Restaurant- und Café-Umsatz von 378,2 Millionen SGD. Die Marke ist über mehrere Restaurantketten tätig, darunter Coffee Bean & Tea Leaf und andere Gastronomiebetriebe.

Einnahmequelle	Jahresumsatz (SGD)	Prozentsatz des Gesamtumsatzes
Café-Verkäufe	378,200,000	42.5%
Dine-in-Einnahmen	215,400,000	24.3%
Mitnahme und Lieferung	162,800,000	18.3%

Franchise-Lizenzgebühren

Super Group generiert Franchise-Lizenzeinnahmen für mehrere Marken. Im Jahr 2023 beliefen sich die Franchise-Lizenzgebühren auf insgesamt 87,5 Millionen SGD.

• Gesamtzahl der Franchise-Standorte: 215
• Durchschnittliche Lizenzgebühr pro Franchise: 407.000 SGD
• Internationaler Franchise-Ausbau: 38 neue Standorte

Lieferketten- und Logistikdienstleistungen

Das Lieferketten- und Logistiksegment des Unternehmens erwirtschaftete im Jahr 2023 einen Umsatz von 142,6 Millionen SGD.

Logistikdienstleistung	Jahresumsatz (SGD)	Wachstumsrate
Inländische Logistik	89,400,000	6.2%
Internationale Logistik	53,200,000	8.7%

Produktvertrieb und Großhandel

Der Produktvertriebs- und Großhandelsumsatz erreichte im Jahr 2023 215,3 Millionen SGD.

• Großhandel mit Getränkeprodukten: 132.600.000 SGD
• Vertrieb von Nahrungsmitteln: 82.700.000 SGD
• Großhandelsmarktanteil: 17,5 %

Digitale Plattform- und Technologiedienste

Der Umsatz mit digitalen Plattformen belief sich im Jahr 2023 auf 45,2 Mio. SGD, was einem Wachstum von 22 % gegenüber dem Vorjahr entspricht.

Digitaler Service	Jahresumsatz (SGD)	Benutzerbasis
Mobile App-Dienste	22,600,000	1,2 Millionen Benutzer
Online-Bestellplattform	15,400,000	850.000 aktive Benutzer
Technologielizenzierung	7,200,000	42 Firmenkunden

Super Group (SGHC) Limited (SGHC) - Canvas Business Model: Value Propositions

You're looking at the core reasons why Super Group (SGHC) Limited is pulling in serious cash as of late 2025. The value they deliver centers on a dual-product approach, global scale, and a tech backbone that keeps customers engaged.

Diverse online offering: premier sports betting and multi-brand casino.

Super Group (SGHC) Limited offers both sports betting, primarily through the Betway brand, and multi-brand online casino gaming via Spin. The casino vertical is the clear revenue driver. For the third quarter of 2025, online casino revenue hit $459 million, dwarfing the $91 million generated by sports betting revenue in the same period. To be fair, sports betting still moves a lot of volume, with wagers totaling $901 million in Q3 2025, a 12% year-over-year increase, while casino wagers rose 20% year-over-year.

The brand contribution in Q3 2025 shows this split clearly: Betway generated an impressive $341 million in revenue, while Spin contributed $216 million. This shows the power of having both a premier sports brand and a strong casino offering.

Scalable, profitable, and geographically diversified global platform.

The platform's scale is evident in its customer base and financial guidance. Monthly Active Customers averaged 5.5 million in Q3 2025, reaching a record 6 million in September. Profitability is strong, with Q3 2025 Adjusted EBITDA reaching $152.1 million, marking a 65% year-over-year increase and achieving a margin of approximately 27%. The company raised its full-year 2025 guidance to expect revenue up to $2.27 billion and Adjusted EBITDA between $555 million and $565 million.

The geographic spread is wide, though the company is sharpening its focus post-exit from the U.S. iGaming market. Here's a look at the revenue split from the second quarter of 2025, showing where the global footprint is strongest:

Region	Revenue Contribution (Q2 2025)
Africa and Middle East	40%
North America (Excluding U.S. exit focus)	34%
Europe	19%
Asia-Pacific	6%
LATAM	1%

Personalized customer experience via a proprietary data engine.

Super Group (SGHC) Limited touts its proprietary marketing and data analytics engine as the key to delivering a unique and personalized customer experience. This focus on the individual seems to translate directly into engagement metrics. The 18% year-on-year increase in Monthly Active Customers to 5.5 million in Q3 2025 reflects this execution across core markets.

Secure, reliable, and continuously enhanced digital gaming platforms.

Platform reliability is underpinned by a strong balance sheet, which gives the company flexibility. Cash and cash equivalents stood at $461.9 million as of September 30, 2025. Furthermore, the company is enhancing its payment infrastructure, notably by launching Super Coin, a South African rand-pegged stablecoin, to improve customer engagement.

The platform's reliability is also shown by the strong financial results achieved despite customer-friendly outcomes in September 2025.

High-margin casino vertical, which dominates revenue.

The casino vertical is the margin powerhouse. In Q3 2025, the $459 million in online casino revenue was substantially higher than the $91 million from sports betting. This dominance is a core value proposition, as the casino segment generally carries higher margins than sports betting, which is reflected in the overall margin expansion the company noted.

Here's a quick comparison of the revenue contribution from the two main verticals in Q3 2025:

• Online Casino Revenue: $459 million
• Sports Betting Revenue: $91 million
• Total Revenue (Q3 2025): $556.9 million

If you're looking at the core driver of profitability, it's definitely the casino side of the business right now.

Finance: draft 13-week cash view by Friday.

Super Group (SGHC) Limited (SGHC) - Canvas Business Model: Customer Relationships

Super Group (SGHC) Limited drives customer relationships through a data-first approach, aiming for sustained engagement across its Betway and Spin brands.

Automated, data-driven personalized marketing and offers

The group utilizes its proprietary marketing and data analytics engine to tailor the customer experience. This involves employing statisticians and data scientists to model customer profitability for personalized incentivization. The focus on controlled marketing spend is evident in the recent figures.

Metric	H1 2025 Average	2025 Guide	YoY Change (H1 2025 vs H1 2024)
Marketing Costs as % of Total Group Revenue	23.5%	23%	Down -2.3%

This disciplined approach aims to shift resources from acquisition to retention in mature markets.

Responsive customer support channels for issue resolution

Operational practices include maintaining responsive customer support channels. Customers can interact with the Customer Care Team for specific service requests.

• Deposit limits can be set via account or by contacting the Customer Care Team.
• Take a break periods can be set from 24 hours to six weeks by logging in or contacting the Customer Care Team.

Self-service tools and responsible gaming features

Super Group integrates a suite of safer gambling tools to help customers control their play, which are accessible through self-service account management.

• Self-exclusion periods can be applied in ranges from six months to five years.
• The suite includes a reality check, deposit limit, take-a-break, and self-exclusion options.

High customer retention driven by product innovation

The company points to high customer retention as a key driver of its record financial performance in the first half of 2025. Product innovation supports this engagement.

Period End Date	Monthly Active Customers (MAC)	Year-over-Year MAC Growth
Q2 2025	5.5 million	21%
Q3 2025 (Milestone)	6 million	18% (vs Q3 2024)

The success in Q2 2025 was specifically fueled by the 'continued traction of Bet Builder, our innovative parlay product.' Furthermore, the launch of Super Coin is anticipated in Q4 2025.

Brand-led engagement through major sports sponsorships

Brand engagement is heavily supported by a market-leading sponsorship portfolio. The group's brands share the thrill with around 5.5 million monthly active customers.

Partner/League	Brand Association	Key Detail / Year
Atlassian Williams Racing	Betway and Jackpot City	Ahead of the 2025 season
Manchester City	Betway	Official Global Betting Partner starting in 2024
Premier Soccer League (South Africa)	Betway	Title sponsor, known as the Betway Premiership
Simba Sports Club	Betway	Official Principal Partner; club has 22 Tanzania Premier League titles
SA20 Cricket Competition	Betway	Title sponsor since January 2023

The market leading sponsorship portfolio has over 90 brand partnerships.

Super Group (SGHC) Limited (SGHC) - Canvas Business Model: Channels

You're looking at how Super Group (SGHC) Limited gets its product-online sports betting via Betway and casino gaming via Spin-in front of customers as of late 2025. The focus is clearly on digital, direct engagement, backed by high-profile brand visibility.

Direct-to-consumer via Betway and Spin mobile apps and web platforms represent the core delivery mechanism. The success of this channel is evident in the customer growth figures. Super Group (SGHC) Limited hit a record 6 million monthly active customers in September 2025, with the average for the third quarter of 2025 standing at 5.5 million monthly active customers, an 18 percent year-on-year increase. This is up from 4.5 million monthly active customers in Q2 2024. These customers engage directly through the proprietary platforms, which are the primary revenue generators.

The revenue generated through these direct channels in Q3 2025 shows the relative strength of the two brands and product types:

Metric	Q3 2025 Amount (USD)	Year-over-Year Change Context
Total Revenue	$556.9 million	Up 26 percent year-over-year
Online Casino Revenue (Spin/Other)	$459 million	Casino wagers rose 20 percent year-over-year
Sports Betting Revenue (Betway)	$91 million	Sports Betting Wagers totaled $901 million
Betway Brand Revenue	$341 million	Top brand revenue contribution in Q3 2025
Spin Brand Revenue	$216 million	Spin brand revenue contribution in Q3 2025

The company noted that its disciplined investment in high-return markets, combined with operational efficiencies and improved marketing ROI, continues to drive expanding margins. While specific spend on app versus web acquisition isn't broken out, one analyst note mentioned a total marketing spend of approximately $500 million for the full year 2025, with an ongoing effort to find a more efficient 'new channel'.

Affiliate marketing networks for customer referral are part of the broader marketing strategy that focuses on improved Return on Investment (ROI). The CFO noted that improved marketing ROI is translating into expanding margins. The company is focused on disciplined investment in high-return markets, which would certainly include optimizing the performance of any affiliate partnerships to ensure they meet Super Group (SGHC) Limited's return thresholds.

Global sports sponsorships for brand awareness and traffic are a visible component of driving top-of-funnel interest, especially in key growth regions like Africa, where aggressive marketing and sponsorships are credited with fueling growth. Super Group (SGHC) Limited maintains a market-leading sponsorship portfolio with over 90 brand partnerships. Key examples relevant to the 2025 period include:

• Partnership with Atlassian Williams Racing ahead of the 2025 Formula 1 season.
• Official Betting Partner status with football clubs like Arsenal, Manchester City, and Chelsea FC.
• Title sponsor of the Premier Soccer League in South Africa, now known as the Betway Premiership.

This visibility supports the overall customer acquisition efforts that feed the direct D2C channels. Finance: draft 13-week cash view by Friday.

Super Group (SGHC) Limited (SGHC) - Canvas Business Model: Customer Segments

You're looking at the core audience for Super Group (SGHC) Limited right now, late in 2025. Honestly, the numbers tell a clear story about where the action is, especially after they streamlined operations by exiting the U.S. iGaming market.

The customer base is fundamentally split between two major verticals, served by their primary brands, Betway and Spin. The Betway segment targets the mass market of online sports bettors globally, leveraging its licenses across regulated territories. Spin, on the other hand, focuses on the online casino gamers in licensed markets.

The sheer scale of their reach is impressive. As of the third quarter of 2025, Super Group (SGHC) Limited reported having over 5.5 million monthly active customers. That's a solid engagement metric, showing real traction across their platform. The CEO even mentioned hitting six million monthly active customers as a significant milestone, reflecting product innovation and local execution.

The growth engine is clearly concentrated in specific areas. You see the strongest performance coming from customers in high-growth regions like Africa and Europe, which is where the company is focusing its disciplined investment.

Here's a quick look at the geographic focus and the customer base driving the recent financial results:

Geographic Focus Area	Primary Activity/Brand Focus	Q3 2025 Revenue Driver Status
Africa and the Middle East	Sports Betting & Casino (Betway/Spin)	Maximum Revenue Contribution
Europe	Sports Betting & Casino (Betway/Spin)	Strong Growth Driver
North America (Mainly Canada)	Sports Betting & Casino (Betway/Spin)	Strong Growth Driver
South/Latin America	Sports Betting & Casino (Betway/Spin)	Noted Declines

To be fair, the company's licensing footprint under Betway covers Europe, the Americas, and Africa, but the current revenue mix shows where the most active and profitable segments are right now. The financial health supporting this customer base is strong, with cash and cash equivalents standing at US$461.9 million as of September 30, 2025, backing up their Q3 2025 revenue of US$556.9 million.

You can break down the customer engagement by product type as well, which gives you a better picture of who is playing:

• Online casino revenue accounted for US$459 million of the Q3 2025 total revenue.
• Sports betting contributed US$91 million in revenue for the same period.
• The top brand, Betway, generated an impressive US$341 million in revenue for the quarter.
• The Spin brand contributed US$216 million in revenue for the quarter.

Finance: draft 13-week cash view by Friday.

Super Group (SGHC) Limited (SGHC) - Canvas Business Model: Cost Structure

You're looking at the hard costs that drive Super Group (SGHC) Limited's operations as of late 2025. Honestly, for many of these line items, the most granular, audited figures we have are from the close of the 2024 fiscal year, which sets the baseline for current spending, though we have some forward-looking guidance for 2025.

One-Time Restructuring Cost for US Exit

The most immediate, non-recurring cost is tied to the strategic decision to exit the United States iGaming market. Super Group (SGHC) Limited expects to incur a one-time restructuring cash cost related to this anticipated exit of between $30 million - $40 million. To be fair, the group had already spent $32.7 million to facilitate Betway's US withdrawal previously.

Personnel Costs for Trading, Tech, and Customer Support

Personnel is a major fixed cost, and we can look at the executive compensation from the end of 2024 as a proxy for the high-level cost structure, though this doesn't capture the full operational headcount for trading, tech, and support. For the year ended December 31, 2024, the total cash compensation for all executive officers and directors was $6,447,439. This broke down into:

• Base compensation: $2,986,388
• Bonuses: $3,461,051

The increase in direct employment costs in 2024 was attributed to staff additions to ensure adherence to various regulatory requirements and to align business strategy across key functions.

Technology Development and Platform Maintenance Expenses

Technology investment is capitalized expenditure on software, which is key to platform maintenance and development. For the nine months ended September 30, 2024, Super Group (SGHC) Limited reported outflows from investing activities that included further investment in tangible and intangible assets of €63.6 million, predominantly due to the capitalization of expenditure on software. For context, the investment in tangible and intangible assets in the first quarter of 2024 alone was €20.6 million, also predominantly for capitalized software expenditure.

Gaming Duties and Regulatory Compliance Fees Across Jurisdictions

Regulatory costs are jurisdiction-dependent and subject to change, which is a near-term risk. For instance, the United Kingdom announced new duties that will impact future costs significantly. Effective April 2026, the tax on remote gaming will rise to 40 percent from 21 percent, and levies on online sports betting will increase to 25 percent from 15 percent by April 2027. Super Group (SGHC) Limited stated these UK tax increases would result in a 6 percent negative impact on its 2026 adjusted EBITDA. For 2024, the Adjusted EBITDA loss attributed to the US operations was €60.8 million.

Customer Acquisition Costs (Marketing and Sponsorship)

Specific marketing spend figures for late 2025 aren't public, but we see the focus areas. Super Group (SGHC) Limited is striving to maximize operational and marketing cost efficiencies across the group, achieving a margin of 24 percent for the second quarter of 2024 in a row, well ahead of the long-term target of 20 percent. The company highlighted welcoming sponsorships with Manchester City and South Africa's Premier Soccer League (Betway Premiership) in Q2 2025, indicating continued investment in high-profile brand building.

Here's a quick look at the scale of recent operational metrics that drive these costs:

Metric	Period End Date	Value
Monthly Average Customers	Q3 2024	4.7 million
Monthly Average Customers	Q4 2024	5.3 million
Ex-US Adjusted EBITDA Margin	Q2 2024	24%

Finance: draft 13-week cash view by Friday.

Super Group (SGHC) Limited (SGHC) - Canvas Business Model: Revenue Streams

You're looking at the core ways Super Group (SGHC) Limited brings in money as of late 2025. It's a dual-engine operation, split between casino gaming and sports wagering, with a strong focus on international markets now that the U.S. exit is wrapping up.

The most recent quarterly performance, Q3 2025, gives us a clear picture of the revenue mix. The overall Group Revenue for that quarter hit $556.9 million.

Here's how the main operational segments contributed to that Q3 2025 total:

Revenue Stream Component	Q3 2025 Amount (USD)
Online Casino revenue	$459 million
Online Sports Betting revenue	$91 million
Brand licensing and other ancillary income	$6.9 million

That $6.9 million for brand licensing and other ancillary income is the difference between the sum of the two main segments ($459M + $91M = $550M) and the reported total Q3 2025 revenue of $556.9 million. It shows that while casino and sports are the heavy lifters, there's still a small, steady stream from other sources.

The company's scale is definitely a factor in these numbers, driven by a very active user base. The record monthly active customers for Q3 2025 reached 5.5 million.

Looking ahead, Super Group (SGHC) Limited has updated its expectations for the full financial year 2025. The guidance reflects confidence in the continued momentum from the strong Q3 results:

• Full-year 2025 Group Revenue guidance is set between $2.17 billion and $2.27 billion.
• The company is also raising its Adjusted EBITDA guidance for the year to a range of $555 million to $565 million.

You can see the revenue streams are heavily weighted toward the casino side, which is typical for a diversified operator like this, but the sports betting component provides valuable engagement, especially during major sporting events. Finance: draft 13-week cash view by Friday.