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(AsiaGameHub) –   It’s still too early to assess the impact of the UK’s new tax regime on Super Group’s operations, but given the company’s strong focus on Africa, it may not be significantly affected.

Super Group released its Q1 financial results late Wednesday, reporting revenue of $612 million (£452.4 million). On Thursday, Neal Menashe, Chief Executive Officer of Super Group, along with other C-level executives, participated in a webcast answering analysts’ questions.

“The new tax rules only took effect on April 1, so we’ve only had a couple of weeks to evaluate their impact,” Menashe responded when asked about the firm’s outlook under the UK’s new 40% tax rate on online gambling.

“Marketing costs will gradually decline as companies adjust their strategies and adapt to this new fiscal environment. Of course, efficiency will be crucial.”

“This is part of our two core segments—International and Africa—and integrating international operations has provided us with valuable operating leverage.”

Super Group remains committed to Europe

The segments referenced by Menashe reflect what appears to be a routine corporate restructuring by Super Group.

In its announcement on Wednesday, the company revealed it would now report its performance in two distinct segments—Africa and International—having previously segmented results based on the Betway sportsbook and Spin casino brands.

Super Group explained that this change reflects a ‘shift in strategic priorities toward regional performance and market-specific dynamics.’

Menashe further clarified during the earnings call that this approach “highlights the unique operational models across different regions” and will provide shareholders with “greater insight into the key drivers and growth potential of each business unit.”

Why does this matter? It matters because Africa has rapidly emerged as Super Group’s most strategically important continent. Betway, in particular, has established a solid footprint in South Africa, Ghana, Nigeria, Botswana, and several other markets.

Super Group is known for its disciplined approach to market entry and exit. When a region fails to meet expectations, the group does not hesitate to withdraw—such as in the US—and notably avoided entering Brazil despite being one of Europe’s largest betting operators.

This does not mean, however, that Super Group is abandoning Europe or its home market, the UK—despite rising taxes in the continent’s largest gambling market and the anticipated ripple effects across the industry.

“In Europe, after exiting markets where profitability was unattainable—like the US, Belgium, and Italy—we concentrated our efforts on the UK, Spain, and Ireland,” Menashe stated.

“Take the UK as an example: we are rolling out more product enhancements, the brand enjoys strong recognition, customer loyalty remains high, and our marketing continues to drive record acquisition numbers. Most importantly, Betway is now positioned to compete directly with major rivals.”

“The same dynamic applies in Spain, where we’re focusing on casino offerings and introducing innovative features, and in Ireland as well. The real value lies in aligning our front-end user experience with our highly efficient back-end operations.”

“Meanwhile, in Africa, we already have a strong product offering, and while our back-office infrastructure needs further refinement, we are working to match the quality of our International operations. When both sides operate seamlessly together, that’s when we see peak performance—reflected in improved retention rates and overall business growth.”

Super Group prepared to ‘build or buy’ across Africa

Clearly, Africa is not the sole focus for Super Group. According to Menashe, there is significant synergy between its International and African divisions. Alinda van Wyck, Chief Financial Officer, emphasized that the new reporting structure is “not disproportionately weighted toward Africa.”

“Despite expectations to the contrary, this framework gives us the flexibility to pursue meaningful market expansion,” she noted.

“We consistently pursue growth through two key strategies: first, optimizing return on investment by tailoring marketing spend to local customer preferences and ensuring strong returns; second, refining our product mix to better suit regional needs and enhance engagement. This approach supports expansion not just in South Africa, but across the broader African continent.”

Super Group is far from alone in recognizing Africa’s potential. Kaizen Gaming, Greece’s leading gaming operator, launched its Betano brand in Ghana earlier this year, marking its 20th active market.

UK high-street chain Betfred maintains a presence in South Africa, evoke retains its stake in the 888AFRICA joint venture with businessman Christopher Coyne, London-based Kingmakers operates BetKing in Nigeria and SuperSportBet in South Africa, and global giant bet365 is active across multiple African nations.

Numerous local players also compete in the space, including South Africa’s Sun International and HollywoodBets, as well as Nigeria’s dominant Bet9ja.

Growing internet access, mobile penetration, expanding economies, and increasing consumer spending are making Africa increasingly attractive to multinational corporations.

However, responsibility concerns persist. In South Africa, critics have raised alarms about the rapid expansion of the betting sector amid widespread poverty. Additionally, regulatory environments remain fluid—especially in countries prone to frequent political changes. Kenya, one of Africa’s largest betting markets, introduced a new taxation regime last year, for instance.

Nonetheless, these challenges have not diminished Super Group’s confidence—a sentiment reflected in its latest figures. Q1 revenue rose 24%, from $201 million in 2025 to $267 million this year (£197.3 million).

Speaking to analysts, Menashe highlighted Nigeria as a particularly promising market.

“We’ve been operating there for some time, and it’s become incredibly compelling,” he said. “Across Africa—and especially in Nigeria—the economic landscape is improving, with greater currency stability.”

“Given Nigeria’s massive population and growing total addressable market (TAM), we expect to significantly scale our operations there—doubling or even tripling our current business size. We’re refining our product to meet local demands, and we’re exploring both organic growth and acquisition opportunities. Both paths are on our radar, and we’ll pursue whichever delivers the best outcome.”