Super Group Announces U.S. Sportsbook Market Exit | iGaming Future

Super Group (SGHC) Limited, the parent company of Betway, an online sports betting and gaming business, and Spin, a multi-brand online casino, has announced its decision to exit the U.S. sportsbook market following an extensive internal review.

In collaboration with relevant regulators and partners, Super Group will initiate the process to close its U.S. sportsbook operations in the nine states where it is currently active. Despite this exit, Super Group will maintain its iGaming presence in the U.S. by continuing to operate two iGaming brands from its Spin portfolio, including Jackpot City, in New Jersey and Pennsylvania.

Super Group anticipates incurring costs and charges related to the closure of its U.S. sportsbook operations, with details to be provided during the next quarterly earnings call scheduled for early August. These costs and charges will not affect the company’s previously communicated capital allocation or operating plans. Additionally, the closure will not impact Super Group’s non-U.S. earnings, which have historically been reported separately.

Chief Executive Officer Neal Menashe commented: “As a global business, we constantly evaluate the optimal use of our resources across all markets in which we operate. We have recently concluded an extensive review of our U.S. operations and, at present, we do not see a long-term path to profitability for the sportsbook product.”

“The vast majority of Super Group’s revenue is generated in iGaming and, in line with that strategy, we will continue to offer our leading casino product in New Jersey and Pennsylvania. We are open to expanding our U.S. footprint if the right investment or strategic opportunities arise.”