Super Group to Exit US iGaming Market Following Strategic Review
Although the company withdrew from the US sports betting sector almost exactly a year ago, it had maintained a presence in the market through two Spin-branded online casinos operating in New Jersey and Pennsylvania.
Super Group, the parent company of Betway and Spin, has confirmed it is exiting the US iGaming market following a strategic review that concluded the region is unlikely to deliver a sufficient return on capital “any time soon.”
Although the company withdrew from the US sports betting sector almost exactly a year ago, it had maintained a presence in the market through two Spin-branded online casinos operating in New Jersey and Pennsylvania.
However, a “comprehensive evaluation” of Super Group’s global priorities has now prompted a full withdrawal from US operations.
Chief Executive Neal Menashe explained:
“This is a difficult decision, particularly because our US team has worked hard and made progress over recent quarters. Nonetheless, recent regulatory developments combined with ongoing assessment of capital allocation requirements have led us to believe that our stringent hurdle for return on capital will likely not be met in this market any time soon.
We therefore intend to focus capital and resources on markets where we see the greatest opportunity for scalable, sustainable, profitable super growth, with a disciplined emphasis on operational efficiency.”
Chief Financial Officer Alinda van Wyk confirmed the move will result in a one-off cash restructuring cost of between US$30 million and US$40 million, though the company is “actively pursuing multiple efforts to minimise” its impact.
While the group’s US business has struggled to gain traction, Super Group continues to perform strongly in international markets — particularly in Europe and Africa. In a preliminary Q2 update, the company reported what is expected to be the strongest quarter in its history.
Super Group highlighted “solid revenue growth across all markets,” record deposit levels, improved pricing models, and enhanced risk management, all contributing to strong results.
As a result, the company has raised its ex-US revenue guidance for 2025 to over US$2 billion, up from previous projections of US$1.925 billion. Adjusted EBITDA is now expected to exceed US$480 million, compared with an earlier estimate of US$457 million.
Menashe added:
“We are very pleased with our performance in the second quarter, reflecting continued momentum and discipline across our core markets and further validating the strength of our operating model and brands.
We remain focused on driving profitable and sustainable growth through consistent execution and continue to be super-confident in the long-term growth potential of our business.”
