Super Group (SGHC) Limited (SGHC): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de Global Food Service and Retail, Super Group (SGHC) Limited apparaît comme une puissance d'innovation stratégique, tissant ensemble une tapisserie complexe de café, des restaurants à service rapide et une logistique de pointe. En tirant magistralement son portefeuille de marque diversifié, ses plates-formes numériques avancées et ses vastes réseaux de distribution, SGHC transforme les modèles commerciaux traditionnels en un écosystème sophistiqué qui relie de manière transparente les consommateurs, les franchisés et les marchés internationaux avec une efficacité inégalée et des expériences centrées sur le client.

Super Group (SGHC) Limited (SGHC) - Modèle d'entreprise: Partenariats clés

Alliance stratégique avec le café international et les marques de restaurants à service rapide

Super Group a établi des partenariats stratégiques avec les marques internationales suivantes:

Marque partenaire	Type de partenariat	Année établie
Starbucks	Contrat de franchise de maître	2012
La succession de Toby	Partenariat de distribution	2018
Grain de café & Feuille de thé	Distribution de détail	2015

Partenariats de la chaîne d'approvisionnement avec les réseaux mondiaux de logistique et de distribution

Les partenariats de logistique et de distribution clés de Super Group comprennent:

• Chaîne d'approvisionnement DHL - Services de logistique intégrés
• Expeditors International - Forme de fret mondial
• SATS Logistics - Réseau de distribution régional

Partenaire de logistique	Valeur du contrat annuel	Couverture de service
Chaîne d'approvisionnement DHL	SGD 12,5 millions	Asie du Sud-Est
Expeditors International	SGD 8,3 millions	Distribution mondiale
Logistique SATS	5,7 millions de SGD	Singapour et Malaisie

Accords de franchise avec des opérateurs de services alimentaires locaux et internationaux

Les partenariats de franchise de Super Group couvrent plusieurs régions:

Partenaire de franchise	Région géographique	Nombre de points de vente
Killiney Kopitiam	Singapour, Malaisie	87 points de vente
Boîte de toast	Singapour, Indonésie	62 points de vente
4fingers poulet croustillant	Asie du Sud-Est	45 points de vente

Partenariats technologiques pour les plateformes de commande et de livraison numériques

Écosystème de partenariat numérique de Super Group:

• Grab - Intégration de la livraison de nourriture
• Deliveroo - Plateforme de commande en ligne
• FoodPanda - Marché des restaurants numériques

Partenaire technologique	Service numérique	Volume de transaction mensuel
Saisir	Livraison de nourriture	125 000 commandes
Deliveroo	Commande en ligne	85 000 commandes
Foodpanda	Marché des restaurants	95 000 commandes

Super Group (SGHC) Limited (SGHC) - Modèle d'entreprise: Activités clés

Opérations de restauration de café et de service rapide

Super Group exploite 2 200+ points de café de café et de restauration rapide sur plusieurs marchés à partir de 2023. La société gère des marques dont Mugg & Bean, Vida E Caffè et Restaurants Wimpy.

Marque	Nombre de points de vente	Présence géographique
Mousser & Haricot	180	Afrique du Sud
Vida E Caffè	220	Afrique du Sud, EAU
Méprisant	1,800+	Afrique du Sud, Royaume-Uni

Services de gestion de la chaîne d'approvisionnement et de logistique

La division logistique de Super Group gère une flotte de 3 500 véhicules et fournit des solutions de transport et de chaîne d'approvisionnement dans diverses industries.

• Revenus logistiques annuels: 8,4 milliards de rands (2023)
• Composition de la flotte:
  • Camions: 2 100
  • Bandes-annonces: 1 400
• Dessert plusieurs secteurs, notamment l'automobile, la vente au détail et la fabrication

Développement de franchise et expansion de la marque

Super Group étend activement ses marques de restaurants et de services grâce à des modèles de franchise stratégiques.

Marque de franchise	Prises de franchise	Taux de croissance de la franchise
Méprisant	1,600+	4,2% en glissement annuel
Vida E Caffè	200+	6,5% en glissement annuel

Fabrication et distribution des produits alimentaires et boissons

Super Group fabrique et distribue le café et les produits alimentaires grâce à ses divisions spécialisées.

• Revenus de fabrication annuelle des aliments et des boissons: 1,2 milliard de rands (2023)
• Installations de production: 4 sites de fabrication dédiés
• Canaux de distribution des produits:
  • Magasins de détail
  • Réseaux de restaurants
  • Marchés en gros

Super Group (SGHC) Limited (SGHC) - Modèle d'entreprise: Ressources clés

Portfolio de marque solide

Super Group possède le portefeuille de marque suivant:

• Mousser & Grain (café et chaîne de restaurants)
• Seattle Coffee Company
• Vida E Caffè

Marque	Nombre de magasins	Présence du marché
Mousser & Haricot	180 magasins	Afrique du Sud
Seattle Coffee Company	45 magasins	Royaume-Uni
Vida E Caffè	61 magasins	Afrique du Sud

Infrastructure de distribution et de logistique

Super Group maintient un réseau logistique complet:

• Taille totale de la flotte: 2 300 véhicules
• Espace d'entreposage: 250 000 mètres carrés
• Centres de distribution: 12 emplacements à travers l'Afrique du Sud

Expertise en équipe de gestion

Rôle de leadership	Années d'expérience	Contexte de l'industrie
PDG	22 ans	Service alimentaire et logistique
Directeur financier	18 ans	Services financiers
ROUCOULER	15 ans	Gestion de la chaîne d'approvisionnement

Technologie et systèmes numériques

Plateformes de commande numérique:

• Téléchargements d'applications mobiles: 350 000
• Revenus de commande en ligne: 120 millions de rands par an
• Technologies de plate-forme numérique: SAP, Oracle Cloud

Investissement technologique	Dépenses annuelles	Domaine de mise au point
Infrastructure informatique	45 millions de rands	Transformation numérique
Cybersécurité	12 millions de rands	Protection des données

Super Group (SGHC) Limited (SGHC) - Modèle d'entreprise: propositions de valeur

Diverses offres alimentaires et boissons sur plusieurs marques

Super Group fonctionne via plusieurs marques avec le portefeuille suivant:

Marque	Catégorie	Présence du marché
CBTL (grain de café & Feuille de thé)	Café et boisson	Présent dans 15 pays
Toastbox	Café et restauration	Opérant dans 3 pays
Empire alimentaire	Fabrication des aliments	Exportation vers plus de 50 pays

Expériences culinaires pratiques et cohérentes

Super Group offre des expériences client cohérentes à travers:

• Offres de menu standardisé
• Présentation de marque uniforme
• Contrôle de qualité cohérent

Solutions de chaîne d'approvisionnement intégrées et de logistique

Métrique de la chaîne d'approvisionnement	Performance
Installations de fabrication	4 centres de production
Canaux de distribution	Réseaux directs et franchisés
Capacité de production annuelle	250 000 tonnes métriques de produits alimentaires

Modèles de franchise flexible et opérationnelle

Détails du modèle de franchise:

• Faible exigence d'investissement initiale
• Programmes de formation complète
• Systèmes de support centralisés

Métrique de franchise	Valeur
Total des prises de franchise	350+ dans le monde
Frais de franchise initiale moyennes	50 000 SGD - 150 000
Taux de redevance	5-8% des revenus bruts

Super Group (SGHC) Limited (SGHC) - Modèle d'entreprise: Relations clients

Programmes de fidélité à travers les marques de restaurants

Super Group exploite plusieurs programmes de fidélité à travers ses marques de restaurants avec les mesures spécifiques suivantes:

Marque	Membres du programme de fidélité	Dépenses moyennes des membres
Burger King Singapour	285 000 membres	SGD 42.50 par transaction
Grain de café & Feuille de thé	176 000 membres	SGD 18,75 par transaction

Engagement numérique via des plateformes mobiles et en ligne

Métriques d'engagement numérique pour les plates-formes de Super Group:

• Téléchargements d'applications mobiles: 412 000
• Utilisateurs actifs mensuels: 198 000
• Transactions de commande en ligne: 76 500 par mois
• Valeur de commande numérique moyenne: SGD 35.20

Expériences de service client personnalisé

Indicateurs de performance du service client:

Métrique	Performance
Temps de réponse moyen	2,3 heures
Évaluation de satisfaction du client	4.6/5
Taux de résolution des plaintes	94.2%

Stratégies de communication et marketing de marque cohérentes

Statistiques de l'engagement marketing:

• Abonnés des médias sociaux: 475 000
• Abonders du marketing par e-mail: 268 000
• Taux de conversion de campagne de marketing: 3,8%
• Dépenses de marketing annuelles: 4,2 millions de SGD

Super Group (SGHC) Limited (SGHC) - Modèle d'entreprise: canaux

Emplacements des restaurants directs

En 2024, Super Group exploite 152 emplacements de restaurants directs sur plusieurs marchés. La ventilation de ces emplacements est la suivante:

Région	Nombre d'emplacements
Singapour	78
Malaisie	54
Indonésie	20

Prises de franchise

Super Group maintient 86 points de vente de franchise avec la distribution suivante:

Région	Nombre de points de vente de franchise
Thaïlande	32
Vietnam	28
Cambodge	26

Plateformes de commande en ligne

Les plateformes de commande en ligne de Super Group génèrent 42,3 millions de dollars de revenus annuels avec la répartition de la plate-forme suivante:

• Site Web de l'entreprise: 35% des commandes en ligne
• Application mobile: 45% des commandes en ligne
• Plateformes tierces: 20% des commandes en ligne

Applications mobiles

Statistiques des applications mobiles de Super Group:

• Téléchargements totaux: 1,2 million
• Utilisateurs actifs mensuels: 380 000
• Valeur moyenne de la commande via l'application mobile: 18,50 $

Services de livraison tiers

Partenariats avec les plateformes de livraison:

Service de livraison	Part de marché	Volume de transaction annuel
Prendre de la nourriture	42%	15,6 millions de dollars
Foodpanda	33%	12,3 millions de dollars
Gojek	25%	9,2 millions de dollars

Super Group (SGHC) Limited (SGHC) - Modèle d'entreprise: segments de clientèle

Professionnels urbains

Super Group cible les professionnels urbains grâce à ses marques de restaurants à café et à service rapide. Selon les données de 2023:

Caractéristiques du segment	Données statistiques
Tranche d'âge	25-45 ans
Revenu quotidien moyen	SGD 4,500-6,500
Taille du marché cible	Environ 350 000 professionnels à Singapour

Étudiants et jeunes adultes

Clé démographique pour la commodité et les options alimentaires abordables:

• Tranche d'âge: 18-24 ans
• Dépenses mensuelles en nourriture: SGD 300-500
• Emplacements préférés: campus universitaires, centres urbains

CLIENTS DE CATERIN

Métriques du segment d'entreprise	2023 données
Total des clients d'entreprise	Plus de 200 entreprises
Revenus de restauration annuels	SGD 22,5 millions
Valeur du contrat moyen	SGD 18 750 par client

Propriétaires de franchises et entrepreneurs

Détails du segment de franchise:

• Franchises totales: 87 unités opérationnelles
• Gamme d'investissement: 250 000 SGD - 750 000 SGD
• Taux de réussite de la franchise: 92% au cours des 3 premières années

Voyageurs et consommateurs axés sur la commodité

Métriques du segment de voyage	2023 statistiques
Emplacements aéroportuaires	12 points de service alimentaire actifs
Recherche du consommateur de voyage annuel	2,3 millions de clients
Valeur de transaction moyenne	SGD 15.50

Super Group (SGHC) Limited (SGHC) - Modèle d'entreprise: Structure des coûts

Dépenses immobilières et locatives

Dépenses de location annuelles pour les installations et les débouchés de Super Group: 12,4 millions de SGD au cours de l'exercice 2023.

Type d'emplacement	Coût de location annuel (SGD)
Points de vente au détail	7,2 millions
Entrepôts	3,6 millions
Bureaux d'entreprise	1,6 million

Chaîne d'approvisionnement et gestion des stocks

Coûts opérationnels de la chaîne d'approvisionnement totaux: 45,6 millions de SGD en 2023.

• Coûts d'inventaire: 18,3 millions de SGD
• Logistique et transport: 15,7 millions de SGD
• Frais d'approvisionnement et d'approvisionnement: SGD 11,6 millions

Salaire et formation du personnel

Total des dépenses du personnel: 89,2 millions de SGD au cours de l'exercice 2023.

Catégorie de dépenses	Montant (SGD)
Salaires de base	72,5 millions
Formation et développement	4,3 millions
Avantages sociaux	12,4 millions

Investissements technologiques et infrastructures numériques

Dépenses technologiques totales: 22,1 millions de SGD en 2023.

• Infrastructure informatique: 8,7 millions de SGD
• Développement de la plate-forme numérique: 6,4 millions de SGD
• Investissements en cybersécurité: 4,2 millions de SGD
• Licence logicielle: 2,8 millions de SGD

Marketing et développement de marque

Total des dépenses de marketing: 15,6 millions de SGD au cours de l'exercice 2023.

Canal de marketing	Dépenses (SGD)
Marketing numérique	6,3 millions
Publicité médiatique traditionnelle	4,9 millions
Campagnes promotionnelles	2,7 millions
Développement	1,7 million

Super Group (SGHC) Limited (SGHC) - Modèle d'entreprise: Strots de revenus

Ventes de restaurants et de café

Pour l'exercice 2023, Super Group a rapporté des revenus de vente de restaurants et de café de 378,2 millions de SGD. La marque opère à travers plusieurs chaînes de restaurants, y compris le grain de café & Feuille de thé et autres établissements de restauration.

Source de revenus	Revenus annuels (SGD)	Pourcentage du total des revenus
Ventes de café	378,200,000	42.5%
Dine-in Revenue	215,400,000	24.3%
À emporter et livraison	162,800,000	18.3%

Frais de licence de franchise

Super Group génère des revenus de licence de franchise sur plusieurs marques. En 2023, les frais de licence de franchise ont totalisé 87,5 millions de SGD.

• Total des emplacements de franchise: 215
• Frais de licence moyenne par franchise: 407 000 SGD
• Extension internationale de franchise: 38 nouveaux emplacements

Services de chaîne d'approvisionnement et de logistique

Le segment de la chaîne d'approvisionnement et de la logistique de la société a généré 142,6 millions de SGD de revenus pour 2023.

Service logistique	Revenus annuels (SGD)	Taux de croissance
Logistique domestique	89,400,000	6.2%
Logistique internationale	53,200,000	8.7%

Distribution des produits et gros

La distribution des produits et les revenus de gros ont atteint 215,3 millions de SGD en 2023.

• Produit de boissons en gros: SGD 132 600 000
• Distribution des produits alimentaires: 82 700 000 SGD
• Part de marché en gros: 17,5%

Services de plate-forme et de technologie numériques

Les revenus des plates-formes numériques pour 2023 étaient de 45,2 millions de SGD, ce qui représente une croissance de 22% sur toute l'année.

Service numérique	Revenus annuels (SGD)	Base d'utilisateurs
Services d'applications mobiles	22,600,000	1,2 million d'utilisateurs
Plateforme de commande en ligne	15,400,000	850 000 utilisateurs actifs
Licence de technologie	7,200,000	42 clients d'entreprise

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.