Published on: February 25, 2026, at 08:51h.

Updated on: February 25, 2026, at 08:51h.

• Major igaming operators poised to enter the Alberta market
• Super Group’s CEO optimistic about Alberta in investor earnings call
• Super Group has a substantial grey market presence across Canada

Super Group holds licenses in Ontario’s regulated igaming market under its brands, including Betway, Royal Vegas, Ruby Fortune, Spin, and Jackpot City. The company has also experienced notable achievements in the grey market within other Canadian provinces, where provincial crown corporations manage all legal gaming options.

Exit from the U.S. Market

Alberta has become a focal point in this context. Following remarks from Super Group CEO Neal Menashe about the company’s strategy in the newly competitive Alberta igaming landscape during the Q4 and FY 2025 financial results call, questions arise regarding their positioning against competitors entering Alberta who lack experience in the grey market.

“Many grey market operators learned from Ontario’s experience (which launched their regulated market in April 2022). Companies like FanDuel, BetMGM, and theScore will engage in aggressive marketing strategies,” stated a knowledgeable industry source.

“If I were managing an established grey market brand, I would prioritize customer retention and offer substantial incentives to ensure long-term loyalty instead of letting them explore other options.”

Enhancing Customer Retention

Super Group has strategically opted to refrain from operating in markets that present limited profitability. This calculation contributed to their decision to cease digital casino operations in the U.S. in 2025 instead of competing directly with large U.S. operators like DraftKings and FanDuel. High-stakes advertising competition in that region can lead to runaway costs if not managed effectively.

In their recent unaudited financial disclosures, Super Group reported a total revenue of $2.2 billion for the year and $578.3 million for Q4 2025. Their year-over-year performance shows an increase of $396.8 million compared to 2024’s revenue of $1.8 billion, largely fueled by growth in Africa and the successful introduction of their operations in Botswana, as well as performance in both Europe (especially the UK) and North America (notably Canada outside Ontario), albeit partially offset by declines in South/Latin America and Asia-Pacific markets.

Anticipated Launch of Alberta Market in Q2

Menashe informed investors that he anticipates the regulated Alberta market to launch in Q2 2026.

“We are prepared,” he asserted. “We’ve taken note of the insights gained from Ontario to transition customers to our dot.com platform. Our offerings across Canada and Ontario will be enhanced, and those features are set to arrive in Alberta as well. We observed significant marketing efforts in Ontario early on. I’m uncertain if competitors can sustain their current levels of spending. We predict a more balanced competitive atmosphere. Additionally, we already possess the revenue; our marketing expenditure correlates with existing income.”