Super Group Q3 2026: Tribunal Win Frees Duty Provision, Austria Refunds Taxes, Revenue Guidance Cut

Super Group (NYSE: SGHC) reported third-quarter 2026 results on 3 November 2026 that include a favorable tribunal decision releasing a remote gaming duty provision and a recovery of Austrian gaming taxes, alongside lower revenue guidance and a new $150m share buyback.

The headline is nine-month profit of $350m. The tax items sit beneath it and matter for anyone reading the profit line as a clean run rate.

Tribunal decision releases remote gaming duty provision

Super Group released a provision for remote gaming duty, and related penalties, covering 2018-2022. The company attributes the release to a "favorable tribunal decision during the quarter". The reconciliation shows $17m for the duty provision and $5m for penalties, $22m in total.

The release adds that the matter "may be subject to further proceedings", so the dispute is not necessarily closed. Super Group's filing does not name the tribunal or jurisdiction.

Austrian gaming taxes recovered

The group also recovered Austrian gaming taxes it had previously paid, after a reassessment of amounts due for 2014-2022. The reconciliation books $17m in Q3 and $21m across the nine months.

Both items are adjusted out of Adjusted EBITDA, so that measure shows underlying trading. Statutory profit is a different measure, and a share of the jump from $96m to $142m in the quarter may reflect these one-off credits.

Profit and trading: the numbers

Profit for the nine months to 30 September 2026 was $350m, against $151m in the same period of 2025. The 2025 full-year figure was $218m, which is why the nine-month total already exceeds it. The 2025 comparatives also carried a $66m asset impairment and $22m of US iGaming closure costs.

Revenue rose 10% and Adjusted EBITDA 8%, a 27% margin. Nine-month Adjusted EBITDA reached $521m, against $420m. Monthly active customers grew 9%.

The regional mix shifted toward Africa. Africa segment revenue was $262m, up from $224m, and its share of group revenue rose to 43% from 41%. The International segment brought in $344m, against $328m, and its share slipped to 57% from 59%.

Guidance lowered, sports results weigh

Super Group now guides to FY2026 revenue of $2.525-2.575bn and Adjusted EBITDA of $700-720m. According to TipRanks, its August outlook, issued after the second quarter, called for revenue above $2.6bn and Adjusted EBITDA above $710m. Revenue guidance is therefore lower, and the EBITDA range centers roughly on the former floor.

CFO Alinda van Wyk said customer-friendly sports outcomes cut Q3 revenue by about $40m and Adjusted EBITDA by about $25m. CEO Neal Menashe called the group a "casino-led business model", the mix that limits exposure to sports variance.

The second quarter, reported on 4 August 2026, put the company back in profit with record revenue. TipRanks reported at the time that FIFA World Cup trading was a driver. Earlier results coverage is in Gamingo's report on Super Group's record revenue.

Cash, dividends, buyback and Apricot

Cash stood at $602m at 30 September 2026, against $513m at 31 December 2025, after $203m of dividends in the nine months. On 30 October 2026 the board authorized repurchases of up to $150m of ordinary shares through the end of December 2027.

Super Group paid $28m (€24m) for the Apricot sportsbook software on 31 March 2026. It has owned the software since 28 February 2026, following final regulatory approvals.

Sector context

The results arrive in a busy week for operator and supplier earnings. Gamingo has covered Kambi's Q3 2026 results, Sportradar's Q3 revenue rise and Lottomatica's nine-month online growth. On the compliance side, Super Group was previously the subject of a New Jersey fine for self-exclusion failures.

Status reviewed on 4 November 2026. Figures come from Super Group's Q3 2026 Form 6-K press release filed with the SEC, with prior guidance from TipRanks. More finance news and EMEA coverage.