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Super Group Reports Financial Results for Second Quarter of 2025
Super Group has reported its highest quarterly revenue to date, reaching $579 million in the second quarter of 2025, a 30% increase year-on-year from $447 million in Q2 2024.
The results continue the growth momentum from Q1, when the company posted $516.8 million, a 25% rise from the prior year.
The company’s growth was primarily fueled by activity in Africa, Europe and North America, although declines were noted in Latin America, the Middle East and Asia-Pacific markets. Africa and the Middle East remained the largest revenue contributors, accounting for 40% of group revenue in Q2, slightly up from 37% the previous year. North America and Europe followed with 34% and 19% of total revenue, respectively.
Betway led the revenue share, generating $355 million in Q2. Within this, Africa and the Middle East produced $225 million, up from $164 million a year earlier. Europe contributed $81 million, up from $49 million in Q2 2024.
Betway’s North America operations, primarily in Ontario after the company exited the US market, accounted for $41 million in revenue, compared with $37 million in the prior year. Meanwhile, Spin Casino recorded $162 million in North American revenue, an increase from $120 million in Q2 2024.
Impact of US market exit
Super Group’s planned full exit from the US iGaming market, meaning the closure of its remaining operations in New Jersey and Pennsylvania, is expected to impact financial results. The exit, which has no specific public date, is expected to result in a $30 million to $40 million loss in adjusted EBITDA.
“While our decision to exit the US was difficult, we believe that this step demonstrates our commitment to capital efficiency and long-term profitability. With continued focus on scaling our technology globally, Super Group should be even better positioned for sustained, profitable growth,” said Super Group CEO Neal Menashe.
According to CFO Alinda van Wyk, the second quarter represented Super Group’s strongest quarterly financial performance to date, attributing the results to the company’s scalable, cost-efficient operating model and its controlled marketing spend.
“We ended the quarter with $393 million in unrestricted cash and zero debt, and returned $20 million to shareholders, bringing our 12-month capital returns to $166 million,” said van Wyk.
Following Q2 results, Super Group raised its full-year group adjusted EBITDA guidance to between $470 million and $480 million. The company also adjusted its ex-U.S. adjusted EBITDA guidance upward to a range of $500 million to $510 million.
Super Group’s activity in Africa and the Middle East has continued to expand. Across its eight African markets, Super Group holds a podium position in seven, with Ghana showing notable growth—sports betting and casino revenue increased by 48% and 71%, respectively.
Menashe noted: “We had a super first half of 2025, driven by a record-breaking second quarter. The quarter’s success was fueled by strong execution across our key markets, a full calendar of global sporting events, increased deposits, high customer retention, and margin expansion.”
The post Super Group Reports Financial Results for Second Quarter of 2025 appeared first on European Gaming Industry News.

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Red Rake Gaming Unveils “Sherlock and the Stolen Gems,” a Slot Full of Mysteries and Big Wins
Red Rake Gaming expands its slots portfolio with the launch of Sherlock and the Stolen Gems, an exciting new adventure starring the most famous detective of all time. This slot invites players to solve the mystery of the missing gems, combining an immersive atmosphere with innovative features that elevate the gameplay experience.
With a 6×6 reel format, Cluster Pays, and the thrilling “Cascading Reels” feature, each spin can trigger a chain of winning combinations that keeps the pace and excitement alive at every moment.
Among its key features are the “Sticky Clusters,” activated when clusters of seven or more identical symbols connect horizontally or vertically. These clusters lock in place on the screen and trigger a Respin on the remaining symbols. Furthermore, the locked clusters can expand during subsequent Respins, creating a highly attractive cumulative effect. The “Expanding Sherlock” feature kicks in after a win, expanding the reels to an 8×8 format and awarding an additional Respin, significantly increasing the winning potential.
Sherlock’s eternal rival, Moriarty, also makes an appearance with a unique feature that transforms the symbols around him into one single powerful 3×3 cluster with great winning potential.
The Free Spins Round is triggered by landing three or more BONUS symbols and takes place on the expanded 8×8 reel grid. During this phase, the Big Ben meter comes into play, allowing players to collect BONUS symbols to earn extra spins and powerful multipliers, adding an extra layer of excitement and reward.
With a captivating storyline, high-quality graphics, and features designed to maximize player engagement, this slot is a must-have addition for operators seeking differentiated, high-performing content.
With this new release, Red Rake Gaming continues to strengthen its portfolio with dynamic and innovative titles tailored for all markets. Furthermore, this slot—like the rest of the company’s offering—is integrated into Red Rake’s well-established tournament tool, enhancing player engagement and entertainment even further.
The post Red Rake Gaming Unveils “Sherlock and the Stolen Gems,” a Slot Full of Mysteries and Big Wins appeared first on European Gaming Industry News.
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With Stake Engine, developers can launch a game in as little as 24 hours
Stake Engine continues its path of innovation and transformation within the developer ecosystem. Today, as part of its official launch to everyone, the more than 6,000 developers who have signed up to be part of the new generation of iGaming creators will gain access to major innovations: an iGaming industry’s fully integrated developer testing tool – purpose-built for games running on the Stake Engine Remote Gaming Server (RGS) – a new developer forum designed to connect developers, share insights, and inspire creativity, and an accelerated approval process enabling games to go live in just 24 hours.
Instant game testing
The newly launched Stake Engine Developer Testing Tool allows developers to test their games directly within the Stake Engine RGS environment – eliminating the need for separate staging setups. Key capabilities include:
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Instant toggling between currencies, languages, and device types.
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Wallet balance simulation to test transaction scenarios across the player journey.
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Seamless switching between local development builds and live published versions.
“This is the first time iGaming developers can test so flexibly and directly on the same system that powers their live games,” said Hayden Bruin, Engineer at Stake Engine. “We’ve built a tool that removes friction, speeds up testing, and makes creativity easier to execute.”
Stake Engine Community forum: Officially live for collaboration
Launched in parallel, the “Stake Engine Community” forum will serve as a central meeting place for the Stake Engine development community, offering:
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Expert insights and tailored recommendations.
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A space for Q&A with peers and Stake Engine experts.
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Discussion boards to share solutions, knowledge, and inspiration.
Empowering Speed, Quality, and Creativity
“With the launch of our testing tool and forum, we’re giving developers the speed, confidence, and collaborative environment they need to deliver exceptional gaming experiences,” added Hayden Bruin, Engineer at Stake Engine.
With the official launch of these two initiatives, Stake Engine takes a significant step toward streamlining development cycles and fostering a thriving creative ecosystem for iGaming.
Developers now benefit from monthly payments and a transparent view of their total bets, along with an accelerated approval process that gets games live in just 24 hours. This reduces barriers and speeds innovation. And this is only the beginning: provably fair and stateful games are on the horizon, set to open new possibilities for transparency, trust, and gameplay innovation.
The post With Stake Engine, developers can launch a game in as little as 24 hours appeared first on European Gaming Industry News.
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Felicity Expands Global Footprint with Singapore Office
This regional structure strengthens Felicity’s access to one of the world’s fastest-growing game development ecosystems, enabling deeper collaboration with developers and creators, having already established a strong gamer base in the US. The new move also positions the company to better serve a rapidly diversifying user base, supporting its broader goal of achieving 2x global growth.
Felicity will also invest $1 million over the next 12–18 months towards building a robust leadership team, expanding its talent pool, and deepening market penetration across APAC. With presence in India, Türkiye, and now Singapore, the company aims to further acquire IP’s, expand talent and player base in new geographies with senior strategic leads focused on product innovation and cross-border partnerships, as well as the formation of a regional developer network.
Felicity has successfully raised a total of $3.7 million across two funding rounds, marking a strong start to its global journey. The company secured $700K in its pre-seed round from DeVC, Swiggy founders, Kunal Shah, and other marquee angels. Building on this early momentum, Felicity recently closed a $3M seed round led by 3one4 Capital, MIXI Global, and T-Accelerate Capital.
Says Anurag Choudhary, Founder & CEO of Felicity “APAC is home to 1.5 billion gamers and a $70B market becoming one of the fastest growing regions globally. and we see this as a pivotal opportunity to build the future of gaming in the region. This expansion with Singapore, will strengthen our ability to engage with local talent, partners, and communities in a region that has immense potential and is at the forefront of gaming innovation.”
The post Felicity Expands Global Footprint with Singapore Office appeared first on European Gaming Industry News.
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