Super Group (SGHC) Limited (SGHC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico do Serviço Global de Alimentos e Varejo, o Super Group (SGHC) Limited emerge como uma potência de inovação estratégica, tecendo uma complexa tapeçaria de café, restaurantes de serviço rápido e logística de ponta. Ao aproveitar magistralmente seu portfólio de marcas diversificadas, plataformas digitais avançadas e redes expansivas de distribuição, o SGHC transforma modelos de negócios tradicionais em um ecossistema sofisticado que conecta perfeitamente consumidores, franqueados e mercados internacionais com eficiência incomparável e experiências centralizadas no cliente.

Super Group (SGHC) Limited (SGHC) - Modelo de negócios: Parcerias -chave

Aliança estratégica com café internacional e marcas de restaurantes de serviço rápido

O Super Group estabeleceu parcerias estratégicas com as seguintes marcas internacionais:

Marca parceira	Tipo de parceria	Ano estabelecido
Starbucks	Contrato de franquia Master	2012
Estados de Toby	Parceria de distribuição	2018
Feijão de café & Folha de chá	Distribuição de varejo	2015

Parcerias da cadeia de suprimentos com redes de logística e distribuição globais

As principais parcerias de logística e distribuição do Super Group incluem:

• Cadeia de suprimentos DHL - Serviços de logística integrada
• Expeditores Internacional - Caminhamento Global de Frete
• SATS Logistics - Rede Regional de Distribuição

Parceiro de logística	Valor anual do contrato	Cobertura de serviço
Cadeia de suprimentos DHL	SGD 12,5 milhões	Sudeste Asiático
Expedidores Internacional	SGD 8,3 milhões	Distribuição global
SATS Logistics	SGD 5,7 milhões	Cingapura e Malásia

Acordos de franquia com operadores de serviços de alimentação locais e internacionais

As parcerias de franquia do Super Group abrangem várias regiões:

Parceiro de franquia	Região geográfica	Número de pontos de venda
Killiney Kopitiam	Cingapura, Malásia	87 pontos de venda
Toast Box	Cingapura, Indonésia	62 pontos de venda
4 Frango crocante	Sudeste Asiático	45 pontos de venda

Parcerias de tecnologia para plataformas de pedidos e entrega digitais

O ecossistema de parceria digital do Super Group:

• Grab - Integração de entrega de alimentos
• Deliveroo - Plataforma de pedidos on -line
• Foodpanda - mercado de restaurantes digitais

Parceiro de tecnologia	Serviço digital	Volume mensal de transação
Pegar	Entrega de alimentos	125.000 ordens
Deliveroo	Pedidos on -line	85.000 ordens
Foodpanda	Mercado de restaurantes	95.000 ordens

Super Group (SGHC) Limited (SGHC) - Modelo de negócios: Atividades -chave

Operações de café e restaurante de serviço rápido

Super Group opera mais de 2.200 pontos de café e restaurantes de serviço rápido em vários mercados a partir de 2023. A empresa gerencia marcas como Mugg & Bean, Vida E Caffè e restaurantes Wimpy.

Marca	Número de pontos de venda	Presença geográfica
Mugg & Feijão	180	África do Sul
Vida E Caffè	220	África do Sul, Emirados Árabes Unidos
Wimpy	1,800+	África do Sul, Reino Unido

Serviços de gerenciamento e logística da cadeia de suprimentos

A divisão de logística do Super Group gerencia uma frota de 3.500 veículos e fornece soluções de transporte e cadeia de suprimentos em vários setores.

• Receita Logística Anual: R8,4 bilhões (2023)
• Composição da frota:
  • Caminhões: 2.100
  • Reboques: 1.400
• Serve vários setores, incluindo automotivo, varejo e manufatura

Desenvolvimento de franquia e expansão da marca

O Super Group expande ativamente suas marcas de restaurantes e serviços através de modelos de franquia estratégicos.

Marca de franquia	Tomadas de franquia	Taxa de crescimento da franquia
Wimpy	1,600+	4,2% ano a ano
Vida E Caffè	200+	6,5% ano a ano

Fabricação e distribuição de produtos de alimentos e bebidas

O Super Group fabrica e distribui café e produtos alimentares por meio de suas divisões especializadas.

• Receita anual de fabricação de alimentos e bebidas: R1,2 bilhões (2023)
• Instalações de produção: 4 locais de fabricação dedicados
• Canais de distribuição de produtos:
  • Lojas de varejo
  • Redes de restaurantes
  • Mercados por atacado

Super Group (SGHC) Limited (SGHC) - Modelo de negócios: Recursos -chave

Portfólio de marcas forte

O Super Group possui o seguinte portfólio de marcas:

• Mugg & Bean (cadeia de café e restaurante)
• Seattle Coffee Company
• Vida E Caffè

Marca	Número de lojas	Presença de mercado
Mugg & Feijão	180 lojas	África do Sul
Seattle Coffee Company	45 lojas	Reino Unido
Vida E Caffè	61 lojas	África do Sul

Infraestrutura de distribuição e logística

Super Group mantém uma rede de logística abrangente:

• Tamanho total da frota: 2.300 veículos
• Espaço de armazenamento: 250.000 metros quadrados
• Centros de distribuição: 12 locais em toda a África do Sul

Especialização da equipe de gerenciamento

Papel de liderança	Anos de experiência	Antecedentes da indústria
CEO	22 anos	Serviço de alimentação e logística
Diretor Financeiro	18 anos	Serviços financeiros
COO	15 anos	Gestão da cadeia de abastecimento

Tecnologia e sistemas digitais

Plataformas de pedidos digitais:

• Downloads de aplicativos móveis: 350.000
• Receita de pedidos on -line: R120 milhões anualmente
• Tecnologias de plataforma digital: SAP, Oracle Cloud

Investimento em tecnologia	Gasto anual	Área de foco
Infraestrutura de TI	R45 milhões	Transformação digital
Segurança cibernética	R12 milhões	Proteção de dados

Super Group (SGHC) Limited (SGHC) - Modelo de negócios: proposições de valor

Diversas ofertas de alimentos e bebidas em várias marcas

O Super Group opera através de várias marcas com o seguinte portfólio:

Marca	Categoria	Presença de mercado
CBTL (feijão de café & Folha de chá)	Café e bebida	Presente em 15 países
ToastBox	Café e jantar	Operando em 3 países
Império alimentar	Fabricação de alimentos	Exportar para mais de 50 países

Experiências gastronômicas convenientes e consistentes

O Super Group oferece experiências consistentes de clientes por meio de:

• Ofertas de menu padronizadas
• Apresentação uniforme da marca
• Controle de qualidade consistente

Cadeia de suprimentos integrados e soluções de logística

Métrica da cadeia de suprimentos	Desempenho
Instalações de fabricação	4 centros de produção
Canais de distribuição	Redes diretas e de franquia
Capacidade de produção anual	250.000 toneladas de produtos alimentares

Franquia flexível e modelos operacionais

Detalhes do modelo de franquia:

• Baixo requisito de investimento inicial
• Programas de treinamento abrangentes
• Sistemas de suporte centralizado

Métrica de franquia	Valor
Total de tomadas de franquia	350+ em todo o mundo
Taxa média de franquia inicial	SGD 50.000 - 150.000
Taxa de royalties	5-8% da receita bruta

Super Group (SGHC) Limited (SGHC) - Modelo de Negócios: Relacionamentos do Cliente

Programas de fidelidade nas marcas de restaurantes

O Super Group opera vários programas de fidelidade em suas marcas de restaurantes com as seguintes métricas específicas:

Marca	Membros do programa de fidelidade	Gasto médio de membros
Burger King Cingapura	285.000 membros	SGD 42,50 por transação
Feijão de café & Folha de chá	176.000 membros	SGD 18,75 por transação

Engajamento digital através de plataformas móveis e online

Métricas de engajamento digital para plataformas do Super Group:

• Downloads de aplicativos móveis: 412.000
• Usuários ativos mensais: 198.000
• Transações de pedidos on -line: 76.500 por mês
• Valor médio da ordem digital: SGD 35.20

Experiências personalizadas de atendimento ao cliente

Indicadores de desempenho do atendimento ao cliente:

Métrica	Desempenho
Tempo médio de resposta	2,3 horas
Classificação de satisfação do cliente	4.6/5
Taxa de resolução de reclamação	94.2%

Estratégias consistentes de comunicação e marketing da marca

Estatísticas de engajamento de marketing:

• Seguidores de mídia social: 475.000
• Assinantes de marketing por email: 268.000
• Taxa de conversão de campanhas de marketing: 3,8%
• Despesas anuais de marketing: SGD 4,2 milhões

Super Group (SGHC) Limited (SGHC) - Modelo de Negócios: Canais

Locais de restaurantes diretos

A partir de 2024, o Super Group opera 152 locais diretos de restaurantes em vários mercados. O colapso desses locais é o seguinte:

Região	Número de locais
Cingapura	78
Malásia	54
Indonésia	20

Tomadas de franquia

O Super Group mantém 86 pontos de venda com a seguinte distribuição:

Região	Número de tomadas de franquia
Tailândia	32
Vietnã	28
Camboja	26

Plataformas de pedidos on -line

As plataformas de pedidos on -line do Super Group geram US $ 42,3 milhões em receita anual com a seguinte quebra da plataforma:

• Site da empresa: 35% dos pedidos on -line
• Aplicativo móvel: 45% dos pedidos online
• Plataformas de terceiros: 20% dos pedidos on-line

Aplicativos móveis

Estatísticas de aplicativos móveis do Super Group:

• Downloads totais: 1,2 milhão
• Usuários ativos mensais: 380.000
• Valor médio do pedido através do aplicativo móvel: $ 18,50

Serviços de entrega de terceiros

Parcerias com plataformas de entrega:

Serviço de entrega	Quota de mercado	Volume anual de transações
Pegue comida	42%	US $ 15,6 milhões
Foodpanda	33%	US $ 12,3 milhões
Gojek	25%	US $ 9,2 milhões

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

Profissionais urbanos

O Super Group tem como alvo os profissionais urbanos através de suas marcas de café e restaurante de serviço rápido. De acordo com 2023 dados:

Características do segmento	Dados estatísticos
Faixa etária	25-45 anos
Renda média diária	SGD 4.500-6.500
Tamanho do mercado -alvo	Aproximadamente 350.000 profissionais em Cingapura

Estudantes e jovens adultos

Principais demográficos para conveniência e opções de alimentos acessíveis:

• Faixa etária: 18-24 anos
• Gastos mensais em alimentos: SGD 300-500
• Locais preferidos: campus universitários, centros urbanos

Catering corporativo e clientes comerciais

Métricas de segmento corporativo	2023 dados
Total de clientes corporativos	1.200 mais de empresas
Receita anual de catering	SGD 22,5 milhões
Valor médio do contrato	SGD 18.750 por cliente

Proprietários de franquia e empreendedores

Detalhes do segmento de franquia:

• Total de franquias: 87 unidades operacionais
• Faixa de investimento: SGD 250.000 - SGD 750.000
• Taxa de sucesso da franquia: 92% nos primeiros 3 anos

Viajantes e consumidores focados em conveniência

Métricas de segmento de viagem	2023 Estatísticas
Locais do aeroporto	12 pontos de serviço de alimentação ativos
Alcance anual do consumidor de viagem	2,3 milhões de clientes
Valor médio da transação	SGD 15.50

Super Group (SGHC) Limited (SGHC) - Modelo de negócios: estrutura de custos

Despesas imobiliárias e de aluguel

Despesas anuais de aluguel para instalações e tomadas do Super Group: SGD 12,4 milhões no ano fiscal de 2023.

Tipo de localização	Custo anual de aluguel (SGD)
Pontos de venda	7,2 milhões
Instalações de armazém	3,6 milhões
Escritórios corporativos	1,6 milhão

Cadeia de suprimentos e gerenciamento de inventário

Custos operacionais da cadeia de suprimentos totais: SGD 45,6 milhões em 2023.

• Custos de retenção de inventário: SGD 18,3 milhões
• Logística e transporte: SGD 15,7 milhões
• Despesas de compras e fornecimento: SGD 11,6 milhões

Salários e treinamento da equipe

Total de despesas de pessoal: SGD 89,2 milhões no ano fiscal de 2023.

Categoria de despesa	Valor (SGD)
Salários da base	72,5 milhões
Treinamento e desenvolvimento	4,3 milhões
Benefícios dos funcionários	12,4 milhões

Investimentos de tecnologia e infraestrutura digital

Despesas totais de tecnologia: SGD 22,1 milhões em 2023.

• Infraestrutura de TI: SGD 8,7 milhões
• Desenvolvimento da plataforma digital: SGD 6,4 milhões
• Investimentos de segurança cibernética: SGD 4,2 milhões
• Licenciamento de software: SGD 2,8 milhões

Marketing e desenvolvimento de marca

Despesas totais de marketing: SGD 15,6 milhões no ano fiscal de 2023.

Canal de marketing	Gastos (SGD)
Marketing digital	6,3 milhões
Publicidade tradicional da mídia	4,9 milhões
Campanhas promocionais	2,7 milhões
Desenvolvimento da marca	1,7 milhão

Super Group (SGHC) Limited (SGHC) - Modelo de negócios: fluxos de receita

Vendas de restaurantes e café

Para o ano fiscal de 2023, o Super Group relatou a receita de vendas de restaurantes e café da SGD 378,2 milhões. A marca opera através de várias redes de restaurantes, incluindo o café & Folha de chá e outros estabelecimentos de serviço de alimentação.

Fonte de receita	Receita anual (SGD)	Porcentagem da receita total
Vendas de café	378,200,000	42.5%
Receita de jantar	215,400,000	24.3%
Takeaway e entrega	162,800,000	18.3%

Taxas de licenciamento de franquia

O Super Group gera receita de licenciamento de franquias em várias marcas. Em 2023, as taxas de licenciamento de franquia totalizaram 87,5 milhões de SGD.

• Locais totais de franquia: 215
• Taxa média de licenciamento por franquia: SGD 407.000
• Expansão da franquia internacional: 38 novos locais

Cadeia de suprimentos e serviços de logística

A cadeia de suprimentos e segmento de logística da empresa gerou SGD 142,6 milhões em receita para 2023.

Serviço de logística	Receita anual (SGD)	Taxa de crescimento
Logística Doméstica	89,400,000	6.2%
Logística Internacional	53,200,000	8.7%

Distribuição de produtos e atacado

A distribuição de produtos e a receita de atacado atingiram 215,3 milhões de SGD em 2023.

• Produto de bebida atacado: SGD 132.600.000
• Distribuição de produtos alimentares: SGD 82.700.000
• Participação no mercado por atacado: 17,5%

Plataforma digital e serviços de tecnologia

A receita da plataforma digital para 2023 foi de 45,2 milhões de SGD, representando um crescimento de 22% ano a ano.

Serviço digital	Receita anual (SGD)	Base de usuários
Serviços de aplicativos móveis	22,600,000	1,2 milhão de usuários
Plataforma de pedidos on -line	15,400,000	850.000 usuários ativos
Licenciamento de tecnologia	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.