Super Group Announces Withdrawal from U.S. Sportsbook Market, Focuses on iGaming
Super Group (SGHC) Limited, the parent company of online betting giant Betway and multi-brand casino Spin, has announced plans to exit the U.S. sportsbook market. The decision comes after an extensive internal review of the company's operations.
In a statement released on July 10th, Super Group revealed it will begin the process of closing its sportsbook operations in nine U.S. states where it currently operates.
However, the company will maintain its iGaming presence in the country, continuing to offer casino products in New Jersey and Pennsylvania under two brands from its Spin portfolio, including Jackpot City.
Neal Menashe, Chief Executive Officer of Super Group, explained the rationale behind the decision:
As a global business, we constantly evaluate the optimal use of our resources across all markets. Our recent review of U.S. operations concluded that we do not see a long-term path to profitability for the sportsbook product.
Neal Menashe
Menashe emphasized that the majority of Super Group’s revenue comes from iGaming, stating,
We will continue to offer our leading casino product in New Jersey and Pennsylvania. We remain open to expanding our U.S. footprint if the right investment or strategic opportunities arise.
Neal Menashe
The company expects to incur costs related to the closure of its U.S. sportsbook operations. Details of these expenses will be provided during the next quarterly earnings call in early August.
Super Group assures that these costs, while significant, will not impact its previously announced capital allocation or operating plans.
Importantly, the company’s non-U.S. earnings, which have been reported separately, are not expected to be negatively affected by this strategic move.
About Super Group
Super Group, ranked sixth in the EGR Power 50 for the past two years, operates in multiple jurisdictions globally. The company is known for its proprietary marketing and data analytics engine, which enables personalized customer experiences across its betting and gaming platforms.
This development marks a significant shift in Super Group’s U.S. strategy, as the company refocuses its efforts on the iGaming sector while withdrawing from the competitive U.S. sportsbook market.
