Super Group (SGHC) Limited (SGHC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico del servicio y el servicio minorista global de alimentos, Super Group (SGHC) Limited surge como una potencia de innovación estratégica, uniendo un intrincado tapiz de café, restaurantes de servicio rápido y logística de vanguardia. Al aprovechar magistralmente su cartera de marca diversa, plataformas digitales avanzadas y redes de distribución expansivas, SGHC transforma los modelos comerciales tradicionales en un ecosistema sofisticado que conecta a la perfección consumidores, franquiciados y mercados internacionales con eficiencia incomparable y experiencias centradas en el cliente.

Super Group (SGHC) Limited (SGHC) - Modelo de negocios: asociaciones clave

Alianza estratégica con marcas internacionales de restaurantes de café y servicio rápido

Super Group ha establecido asociaciones estratégicas con las siguientes marcas internacionales:

Marca de pareja	Tipo de asociación	Año establecido
Starbucks	Acuerdo de franquicia maestra	2012
Patrimonio de Toby	Asociación de distribución	2018
Grano de café & Hoja de té	Distribución minorista	2015

Asociaciones de la cadena de suministro con redes globales de logística y distribución

Las asociaciones de logística y distribución clave de Super Group incluyen:

• Cadena de suministro de DHL - Servicios de logística integrados
• Expeditores International - Reenvío de carga global
• SATS Logistics - Red de distribución regional

Socio de logística	Valor anual del contrato	Cobertura de servicio
Cadena de suministro de DHL	SGD 12.5 millones	Sudeste de Asia
Expeditores internacionales	SGD 8.3 millones	Distribución global
Logística de SATS	SGD 5.7 millones	Singapur y Malasia

Acuerdos de franquicia con operadores de servicios de alimentos locales e internacionales

Las asociaciones de franquicia de Super Group abarcan múltiples regiones:

Compañero de franquicia	Región geográfica	Número de puntos de venta
Killiney kopitiam	Singapur, Malasia	87 puntos de venta
Caja de tostadas	Singapur, Indonesia	62 puntos de venta
4Fingers Pollo crujiente	Sudeste de Asia	45 puntos de venta

Asociaciones tecnológicas para las plataformas de pedidos digitales y entrega

Ecosistema de asociación digital de Super Group:

• GRAB - Integración de entrega de alimentos
• Deliveroo - Plataforma de pedidos en línea
• Foodpanda - Mercado de restaurantes digitales

Socio tecnológico	Servicio digital	Volumen de transacción mensual
Agarrar	Entrega de alimentos	125,000 pedidos
Entrega	Pedidos en línea	85,000 pedidos
Foodpanda	Mercado de restaurantes	95,000 pedidos

Super Group (SGHC) Limited (SGHC) - Modelo de negocio: actividades clave

Operaciones de restaurantes de café y servicio rápido

Super Group opera más de 2.200 puntos de venta de restaurantes de café y servicio rápido en múltiples mercados a partir de 2023. La compañía administra marcas, incluidas Mugg. & Bean, Vida E Caffè y Wimpy Restaurants.

Marca	Número de puntos de venta	Presencia geográfica
Mugg & Frijol	180	Sudáfrica
Vida E Caffè	220	Sudáfrica, EAU
Flojo	1,800+	Sudáfrica, Reino Unido

Servicios de gestión de la cadena de suministro y logística

La división de logística de Super Group gestiona una flota de 3.500 vehículos y proporciona soluciones de transporte y cadena de suministro en varias industrias.

• Ingresos logísticos anuales: R8.4 mil millones (2023)
• Composición de la flota:
  • Camiones: 2,100
  • Remolques: 1.400
• Atiende múltiples sectores que incluyen automotriz, minorista y fabricación

Desarrollo de franquicias y expansión de la marca

Super Group expande activamente sus marcas de restaurantes y servicios a través de modelos estratégicos de franquicias.

Marca de franquicia	Salidas de franquicia	Tasa de crecimiento de la franquicia
Flojo	1,600+	4.2% interanual
Vida E Caffè	200+	6.5% interanual

Fabricación y distribución de productos de alimentos y bebidas

Super Group fabrica y distribuye café y productos alimenticios a través de sus divisiones especializadas.

• Ingresos anuales de fabricación de alimentos y bebidas: R1.2 mil millones (2023)
• Instalaciones de producción: 4 sitios de fabricación dedicados
• Canales de distribución de productos:
  • Tiendas minoristas
  • Redes de restaurantes
  • Mercados mayoristas

Super Group (SGHC) Limited (SGHC) - Modelo de negocio: recursos clave

Cartera de marca fuerte

Super Group posee la siguiente cartera de marca:

• Mugg & Frijoles (cadena de café y restaurantes)
• Seattle Coffee Company
• Vida E Caffè

Marca	Número de tiendas	Presencia en el mercado
Mugg & Frijol	180 tiendas	Sudáfrica
Seattle Coffee Company	45 tiendas	Reino Unido
Vida E Caffè	61 tiendas	Sudáfrica

Infraestructura de distribución e logística

Super Group mantiene una red de logística integral:

• Tamaño total de la flota: 2.300 vehículos
• Espacio de almacenamiento: 250,000 metros cuadrados
• Centros de distribución: 12 ubicaciones en Sudáfrica

Experiencia del equipo de gestión

Rol de liderazgo	Años de experiencia	Antecedentes de la industria
CEO	22 años	Servicio de alimentos y logística
director de Finanzas	18 años	Servicios financieros
ARRULLO	15 años	Gestión de la cadena de suministro

Tecnología y sistemas digitales

Plataformas de pedidos digitales:

• Descargas de aplicaciones móviles: 350,000
• Ingresos de pedidos en línea: R120 millones anuales
• Tecnologías de plataforma digital: SAP, Oracle Cloud

Inversión tecnológica	Gasto anual	Área de enfoque
Infraestructura	R45 millones	Transformación digital
Ciberseguridad	R12 millones	Protección de datos

Super Group (SGHC) Limited (SGHC) - Modelo de negocio: propuestas de valor

Diversas ofertas de alimentos y bebidas en múltiples marcas

Super Group opera a través de múltiples marcas con la siguiente cartera:

Marca	Categoría	Presencia en el mercado
CBTL (grano de café & Hoja de té)	Café y bebida	Presente en 15 países
Tostada	Café y comedor	Operando en 3 países
Imperio alimentario	Fabricación de alimentos	Exportar a más de 50 países

Experiencias gastronómicas convenientes y consistentes

Super Group ofrece experiencias consistentes para el cliente a través de:

• Ofertas de menú estandarizadas
• Presentación de marca uniforme
• Control de calidad consistente

Soluciones integradas de cadena de suministro y logística

Métrica de la cadena de suministro	Actuación
Instalaciones de fabricación	4 centros de producción
Canales de distribución	Redes directas y de franquicias
Capacidad de producción anual	250,000 toneladas métricas de productos alimenticios

Modelos de franquicia y operación flexibles

Detalles del modelo de franquicia:

• Bajo requisito de inversión inicial
• Programas de capacitación integral
• Sistemas de soporte centralizados

Franquicia métrica	Valor
Totales de franquicia	350+ en todo el mundo
Tarifa de franquicia inicial promedio	SGD 50,000 - 150,000
Tasa de regalías	5-8% de los ingresos brutos

Super Group (SGHC) Limited (SGHC) - Modelo de negocios: relaciones con los clientes

Programas de fidelización en todas las marcas de restaurantes

Super Group opera múltiples programas de fidelización en sus marcas de restaurantes con las siguientes métricas específicas:

Marca	Miembros del programa de fidelización	Gasto promedio de miembros
Burger King Singapur	285,000 miembros	SGD 42.50 por transacción
Grano de café & Hoja de té	176,000 miembros	SGD 18.75 por transacción

Compromiso digital a través de plataformas móviles y en línea

Métricas de participación digital para las plataformas de Super Group:

• Descargas de aplicaciones móviles: 412,000
• Usuarios activos mensuales: 198,000
• Transacciones de pedido en línea: 76,500 por mes
• Valor de pedido digital promedio: SGD 35.20

Experiencias de servicio al cliente personalizadas

Indicadores de rendimiento del servicio al cliente:

Métrico	Actuación
Tiempo de respuesta promedio	2.3 horas
Calificación de satisfacción del cliente	4.6/5
Tasa de resolución de quejas	94.2%

Estrategias consistentes de comunicación y marketing de marca

Estadísticas de compromiso de marketing:

• Seguidores de redes sociales: 475,000
• Suscriptores de marketing por correo electrónico: 268,000
• Tasa de conversión de la campaña de marketing: 3.8%
• Gastos anuales de marketing: SGD 4.2 millones

Super Group (SGHC) Limited (SGHC) - Modelo de negocio: canales

Ubicaciones directas de restaurantes

A partir de 2024, Super Group opera 152 ubicaciones de restaurantes directos en múltiples mercados. El desglose de estas ubicaciones es el siguiente:

Región	Número de ubicaciones
Singapur	78
Malasia	54
Indonesia	20

Salidas de franquicia

Super Group mantiene 86 puntos de venta de franquicias con la siguiente distribución:

Región	Número de puntos de venta de franquicias
Tailandia	32
Vietnam	28
Camboya	26

Plataformas de pedidos en línea

Las plataformas de pedidos en línea de Super Group generan $ 42.3 millones en ingresos anuales con el siguiente desglose de la plataforma:

• Sitio web de la compañía: 35% de los pedidos en línea
• Aplicación móvil: 45% de los pedidos en línea
• Plataformas de terceros: 20% de los pedidos en línea

Aplicaciones móviles

Estadísticas de aplicaciones móviles de Super Group:

• Descargas totales: 1.2 millones
• Usuarios activos mensuales: 380,000
• Valor de pedido promedio a través de la aplicación móvil: $ 18.50

Servicios de entrega de terceros

Asociaciones con plataformas de entrega:

Servicio de entrega	Cuota de mercado	Volumen de transacción anual
Agarrar comida	42%	$ 15.6 millones
Foodpanda	33%	$ 12.3 millones
Gojek	25%	$ 9.2 millones

Super Group (SGHC) Limited (SGHC) - Modelo de negocio: segmentos de clientes

Profesionales urbanos

Super Group se dirige a los profesionales urbanos a través de sus marcas de restaurantes de café y servicio rápido. Según los datos de 2023:

Características de segmento	Datos estadísticos
Rango de edad	25-45 años
Ingresos diarios promedio	SGD 4.500-6,500
Tamaño del mercado objetivo	Aproximadamente 350,000 profesionales en Singapur

Estudiantes y adultos jóvenes

Demográfico clave para conveniencia y opciones de alimentos asequibles:

• Rango de edad: 18-24 años
• Gasto mensual en alimentos: SGD 300-500
• Ubicaciones preferidas: campus universitarios, centros urbanos

Catering corporativo y clientes comerciales

Métricas de segmento corporativo	2023 datos
Total de clientes corporativos	Más de 1.200 empresas
Ingresos anuales de catering	SGD 22.5 millones
Valor de contrato promedio	SGD 18,750 por cliente

Propietarios de franquicias y empresarios

Detalles del segmento de franquicia:

• Total de franquicias: 87 unidades operativas
• Rango de inversión: SGD 250,000 - SGD 750,000
• Tasa de éxito de la franquicia: 92% dentro de los primeros 3 años

Los viajeros y los consumidores centrados en la conveniencia

Métricas de segmento de viaje	2023 estadísticas
Ubicación en el aeropuerto	12 puntos de servicio de alimentos activos
Alcance del consumidor de viajes anual	2.3 millones de clientes
Valor de transacción promedio	SGD 15.50

Super Group (SGHC) Limited (SGHC) - Modelo de negocio: Estructura de costos

Gastos de bienes raíces y alquiler

Gastos de alquiler anuales para las instalaciones y puntos de venta de Super Group: SGD 12.4 millones en el año fiscal 2023.

Tipo de ubicación	Costo de alquiler anual (SGD)
Salidas minoristas	7.2 millones
Instalaciones de almacén	3.6 millones
Oficinas corporativas	1.6 millones

Gestión de la cadena de suministro y el inventario

Costos operativos totales de la cadena de suministro: SGD 45.6 millones en 2023.

• Costos de retención de inventario: SGD 18.3 millones
• Logística y transporte: SGD 15.7 millones
• Gastos de adquisición y abastecimiento: SGD 11.6 millones

Salarios y capacitación del personal

Gastos totales de personal: SGD 89.2 millones en el año fiscal 2023.

Categoría de gastos	Cantidad (SGD)
Salarios base	72.5 millones
Capacitación y desarrollo	4.3 millones
Beneficios para empleados	12.4 millones

Tecnología e inversiones en infraestructura digital

Gasto de tecnología total: SGD 22.1 millones en 2023.

• Infraestructura: SGD 8.7 millones
• Desarrollo de la plataforma digital: SGD 6.4 millones
• Inversiones de ciberseguridad: SGD 4.2 millones
• Licencias de software: SGD 2.8 millones

Marketing y desarrollo de la marca

Gasto total de marketing: SGD 15.6 millones en el año fiscal 2023.

Canal de marketing	Gastos (SGD)
Marketing digital	6.3 millones
Publicidad de medios tradicional	4.9 millones
Campañas promocionales	2.7 millones
Desarrollo de la marca	1.7 millones

Super Group (SGHC) Limited (SGHC) - Modelo de negocios: flujos de ingresos

Ventas de restaurantes y café

Para el año fiscal 2023, Super Group informó ingresos por ventas de restaurantes y cafés de SGD 378.2 millones. La marca opera a través de múltiples cadenas de restaurantes que incluyen café de café. & Hojas de té y otros establecimientos de servicio de alimentos.

Fuente de ingresos	Ingresos anuales (SGD)	Porcentaje de ingresos totales
Ventas de cafetería	378,200,000	42.5%
Ingresos de cena	215,400,000	24.3%
Comida para llevar y entrega	162,800,000	18.3%

Tarifas de licencia de franquicia

Super Group genera ingresos por licencias de franquicias en múltiples marcas. En 2023, las tarifas de licencia de franquicias totalizaron SGD 87.5 millones.

• Ubicaciones de franquicia total: 215
• Tarifa de licencia promedio por franquicia: SGD 407,000
• Expansión de franquicia internacional: 38 nuevas ubicaciones

Servicios de cadena de suministro y logística

La cadena de suministro de la compañía y el segmento de logística generaron SGD 142.6 millones en ingresos para 2023.

Servicio logístico	Ingresos anuales (SGD)	Índice de crecimiento
Logística doméstica	89,400,000	6.2%
Logística internacional	53,200,000	8.7%

Distribución de productos y al por mayor

La distribución de productos y los ingresos al por mayor alcanzaron el SGD 215.3 millones en 2023.

• Producto de bebidas Al por mayor: SGD 132,600,000
• Distribución de productos alimenticios: SGD 82,700,000
• Cuota de mercado mayorista: 17.5%

Plataforma digital y servicios de tecnología

Los ingresos de la plataforma digital para 2023 fueron de SGD 45.2 millones, lo que representa un crecimiento anual del 22%.

Servicio digital	Ingresos anuales (SGD)	Base de usuarios
Servicios de aplicaciones móviles	22,600,000	1.2 millones de usuarios
Plataforma de pedidos en línea	15,400,000	850,000 usuarios activos
Licencias de tecnología	7,200,000	42 clientes corporativos

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.