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

Updated on: February 25, 2026, 10:04h.

• Major igaming operators are gearing up to enter the Alberta market
• CEO of Super Group expresses optimism about Alberta during investor earnings call
• Super Group has a strong presence in Canada’s grey market

Super Group holds a license in the regulated Ontario igaming sector through its brands, including Betway, Royal Vegas, Ruby Fortune, Spin, and Jackpot City. The company has also witnessed substantial success in the grey market across other Canadian regions, where only provincial crown corporations offer legally sanctioned gaming options.

Exit from the U.S. Market

Alberta has been among those markets. Following remarks by Super Group’s CEO, Neal Menashe, regarding the company’s strategic plans to penetrate the newly competitive Alberta igaming landscape during the Q4 and FY 2025 financial announcements, it raises questions about the runway available for them compared to companies entering the Alberta market that haven’t previously operated in the grey market.

“The lesson many grey market operators learned from Ontario (which launched its regulated market in April 2022) was that when companies like FanDuel, BetMGM, and theScore enter the fray, they will engage in extensive marketing and advertising efforts,” noted a senior source within the igaming industry.

“If I were associated with any well-established grey market brand, I would ensure that my long-term customers remain loyal by providing various incentives to retain their business, rather than shifting to other options.”

Maximizing Incentives

Super Group has chosen to steer clear of markets where profit margins are slim. This rationale contributed to the decision to discontinue their digital casino operations in the U.S. in 2025, avoiding direct competition with industry giants like DraftKings and FanDuel. Competing in that space can quickly lead to unmanageable marketing expenses.

In their latest financial disclosures, Super Group reported an impressive revenue of $2.2 billion for the year and $578.3 million for Q4 2025. For the fiscal year, revenues rose by $396.8 million compared to $1.8 billion in 2024, spurred by significant growth in Africa and a successful entry into Botswana, along with increases in Europe (primarily the UK), and North America (especially in Canada outside of Ontario), partially offset by downturns in South/Latin America and APAC regions.

Alberta Market Launch Expected in Q2

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

“We are fully prepared,” he stated. “Our experiences in Ontario have equipped us to migrate customers from our dot.com platform effectively. We have refined our offerings across Canada and Ontario, and these enhancements will be available in Alberta. We noted considerable marketing endeavors early in Ontario’s rollout. However, I’m uncertain if competitors can sustain their current spending levels. We foresee a more rational competitive landscape. Moreover, we already possess the revenue; our marketing expenditures are supported by pre-established income.”