Super Group (SGHC) Limited
- Open
- 13.97
- Day high
- 14.14
- Day low
- 13.86
- Prev close
- 13.79
- Volume
- 406K
- Mkt cap
- $7.2B
- P/E (TTM)
- 19.4
- EPS (TTM)
- $0.73
- P/B
- 8.6
- P/S
- 3.0
- Yield
- 0.71%
- Per share
- $0.10
- ▼Insiders net selling -$2.4M over the last 3 months (0 open-market buys, 6 sales)
- 🏛Institutions accumulating (13F)
Super Group (SGHC) Limited (SGHC) is a Consumer Cyclical company listed on NYSE. The stock is up 19% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 6 sales (SEC Form 4). Drillr has 1 published research article covering SGHC.
Super Group (SGHC) Limited (SGHC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
SGHC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Aug 5, 2026 | $0.23 | $0.22 | -5.9% | $684M | +3.7% |
| May 12, 2026 | $0.17 | $0.17 | -2.1% | $612M | +4.7% |
| Sep 4, 2025 | $0.13 | $0.11 | -15.4% | $682M | +28.8% |
| May 8, 2025 | $0.09 | $0.12 | +33.3% | $567M | +27.2% |
| Apr 25, 2024 | $0.03 | $-0.04 | -233.3% | $407M | +2.9% |
| Mar 6, 2024 | $0.01 | $-0.10 | -1015.4% | $396M | +15.4% |
| Nov 9, 2023 | $0.01 | $0.04 | +233.3% | $376M | +9.8% |
| Aug 17, 2023 | $0.02 | $0.07 | +250.0% | $415M | +11.4% |
| May 24, 2023 | $-0.01 | $-0.01 | -100.0% | $368M | +3.6% |
| Mar 14, 2023 | $0.07 | $0.03 | -64.0% | $354M | +16.7% |
| Nov 22, 2022 | $0.08 | $0.06 | -25.0% | $301M | +19.2% |
| Aug 11, 2022 | $0.11 | $0.12 | +9.1% | $336M | -11.7% |
SGHC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Sep 1, 2026 | Ross Kirsty Farrahofficer: Chief Operating Officer | Sell | 40,000 | $14.00 |
| Aug 3, 2026 | Nathan Martineofficer: General Counsel | Sell | 3,997 | $13.97 |
| Aug 3, 2026 | Nathan Martineofficer: General Counsel | Option | 8,817 | — |
| Aug 3, 2026 | Ross Kirsty Farrahofficer: Chief Operating Officer | Sell | 54,551 | $13.97 |
| Aug 3, 2026 | Ross Kirsty Farrahofficer: Chief Operating Officer | Option | 80,000 | — |
| Aug 3, 2026 | Ross Kirsty Farrahofficer: Chief Operating Officer | Option | 35,812 | — |
| Aug 3, 2026 | Menashe Nealdirector, officer: Chief Executive Officer | Sell | 48,440 | $13.97 |
| Aug 3, 2026 | Menashe Nealdirector, officer: Chief Executive Officer | Option | 102,839 | — |
| Aug 3, 2026 | Van Wyk Alindadirector, officer: Chief Financial Officer | Option | 50,210 | — |
| Aug 3, 2026 | Van Wyk Alindadirector, officer: Chief Financial Officer | Sell | 22,644 | $13.97 |
| Jun 30, 2026 | Ben David Alonofficer: Chief Technology Officer | Option | 38,915 | — |
| Jun 30, 2026 | Ben David Alonofficer: Chief Technology Officer | Sell | 8 | $13.74 |
| Jun 12, 2026 | Ben David Alonofficer: Chief Technology Officer | Grant | 116,747 | — |
| Jun 3, 2026 | Ross Kirsty Farrahofficer: Chief Operating Officer | Sell | 25,356 | $13.00 |
| May 26, 2026 | Van Wyk Alindadirector, officer: Chief Financial Officer | Sell | 78,837 | $13.70 |
Source: SGHC SEC Form 4 filings, latest Sep 1, 2026. For informational purposes only — not investment advice.
See the full SGHC insider & 13F page →Super Group (SGHC) Limited company profile
Overview
Super Group (SGHC) Limited (NYSE:SGHC) is a Guernsey-based online gambling operator that went public in November 2020. The company operates two primary brands: Betway, an online sports betting platform, and Spin, a multi-brand online casino offering. Founded as a global digital entertainment company, Super Group has grown to serve over 5 million customers across more than 20 jurisdictions worldwide, with particularly strong positions in Africa, Europe, and Canada. The company has undergone significant strategic transformation in recent years, shifting from a sports betting focus to an iGaming-heavy business model and recently exiting the competitive U.S. sports betting market to focus on more profitable casino operations.
Business
Super Group operates in the online gambling industry, which encompasses both sports betting (wagering on sporting events) and iGaming (online casino games like slots, table games, and live dealer games). The gambling industry has experienced rapid digitization over the past decade, with traditional brick-and-mortar casinos and betting shops increasingly supplemented or replaced by online platforms accessible via websites and mobile apps. The company's core business consists of two main segments. Online casino operations represent approximately 80% of total revenue and include slot machines, table games like blackjack and roulette, and live dealer experiences streamed in real-time. These games operate on mathematical house edges that provide predictable long-term profitability. Sports betting operations account for the remaining 20% of revenue, allowing customers to wager on outcomes of sporting events ranging from football and basketball to esoteric markets like political elections. Super Group's primary brands include Betway for sports betting and multiple casino brands under the Spin umbrella, including the recently expanded Jackpot City brand. The company operates across diverse geographic markets, with strong positions in African markets (7 regulated countries), European markets including the UK, Italy, and Spain, and North American presence in Canada and select U.S. states. Unlike many competitors focused on single markets, Super Group maintains a truly global footprint that provides diversification benefits and growth optionality.
Revenue model
Super Group generates revenue through the mathematical advantages built into gambling products, commonly known as the "house edge." In online casino games, the company retains a predetermined percentage of all wagers over time - for example, a slot machine might return 96% to players while the operator keeps 4%. In sports betting, the company sets odds that incorporate a profit margin, earning money regardless of event outcomes through balanced book management. The company's customers are individual consumers who deposit money into online accounts and place wagers for entertainment. Revenue is recognized as the net amount retained after paying out winnings, creating a business model with relatively predictable margins despite short-term volatility. The iGaming segment provides more stable revenue streams due to the mathematical certainty of casino games, while sports betting can experience margin fluctuations based on sporting event outcomes and the company's risk management effectiveness. Several factors influence Super Group's profitability margins. Regulatory environments significantly impact operations, with favorable jurisdictions allowing higher marketing spend and better customer acquisition, while restrictive markets like Germany and the Netherlands impose operational constraints. Customer acquisition costs vary dramatically by market, with mature markets requiring higher marketing spend per customer than emerging markets. Product mix affects margins, as casino games provide more predictable returns than sports betting. Competitive intensity in markets like the U.S. drives up marketing costs and promotional spending, while foreign exchange fluctuations impact the company's global operations. Technology investments in platform development and security represent significant ongoing costs but enable operational efficiency and regulatory compliance across multiple jurisdictions.
Competitive moat
Super Group's competitive moat is moderate but faces ongoing challenges from well-funded competitors and regulatory pressures. The company's primary defensive advantages include its global diversification across more than 20 jurisdictions, which provides revenue stability when individual markets face regulatory or competitive pressures. This geographic spread is difficult for competitors to replicate quickly due to the complex licensing requirements and local market knowledge needed for each jurisdiction. The company has strengthened its moat through technology ownership, particularly the recent acquisition of full control over its sportsbook software from Apricot, which provides greater operational flexibility and potential cost savings. Super Group's brand recognition in key markets, especially Betway's strong position in African markets and growing presence in Europe, creates customer loyalty and reduces acquisition costs compared to new entrants. However, the company's moat faces significant threats. The online gambling industry has relatively low barriers to entry for well-capitalized competitors, and regulatory changes can quickly eliminate competitive advantages in specific markets. Large technology companies and traditional media conglomerates with substantial marketing budgets pose ongoing competitive threats, as demonstrated by the intense competition that forced Super Group's exit from U.S. sports betting. The company's reliance on digital marketing and customer acquisition also makes it vulnerable to changes in advertising regulations or platform policies. Additionally, the commoditized nature of many gambling products means that customer switching costs are relatively low, requiring continuous investment in product development and customer retention programs.
Risks & safety
Super Group demonstrates a strong financial position with minimal solvency risk, though valuation metrics suggest limited margin of safety at current prices. • Cash and liquidity position: €429 million in unrestricted cash and short-term investments with no debt, providing substantial financial flexibility • Debt levels: Debt-to-equity ratio of 0.13, indicating minimal leverage risk • Current operations: Current ratio of 1.25 and strong operating cash flow generation of €326 million in 2024 • Profitability trends: Adjusted EBITDA margins of 24% ex-U.S. operations, with improving operational efficiency • Valuation concerns: Trading at 25.7x P/E ratio and 9.9x EV/EBITDA, suggesting limited upside at current multiples • Price-to-book ratio: 5.4x book value indicates significant premium to tangible assets • Growth expectations: Current valuation appears to price in continued strong growth, leaving little room for execution disappointments • Other considerations: Regulatory risks in key markets, competitive pressures in core jurisdictions, and dependence on discretionary consumer spending during economic downturns represent ongoing risks to the investment thesis.
Recent development
Super Group has undergone significant strategic transformation over the past few years, fundamentally reshaping its business model and geographic focus. The most significant development has been the company's exit from U.S. sports betting in 2024, a market where it invested heavily but faced intense competition from well-funded rivals like DraftKings and FanDuel. Instead, the company has pivoted to focus solely on iGaming operations in New Jersey and Pennsylvania, targeting profitability by 2027. The company has strengthened its technology capabilities through the acquisition of full ownership of its sportsbook software from Apricot, providing greater operational control and potential cost savings. This technological independence positions Super Group better for future expansion and reduces dependency on third-party providers. Geographic expansion has been a key focus, particularly in African markets where the company now operates in seven regulated countries with strong market positions. The rollout of the Jackpot City casino brand across multiple markets has diversified the company's product offering and reduced dependence on the Betway sports betting brand. In Europe, Super Group has maintained growth in established markets like the UK, Italy, and Spain while navigating regulatory changes in Germany and the Netherlands. The company has also initiated shareholder returns, introducing its first dividend in 2024 and increasing it throughout the year, signaling management's confidence in cash generation capabilities. Marketing partnerships with high-profile sports properties like Manchester City and Arsenal Football Club have enhanced brand recognition in key markets, while the title sponsorship of South Africa's Premier Soccer League has strengthened the company's position in its most important African market.
SGHC company profile · for informational purposes only — not investment advice.
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