Super Group to exit its US iGaming operations

Super Group, the holding company for gambling brands Betway and Spin, has announced it intends to exit its US iGaming operations.

This follows a “comprehensive evaluation of its global priorities, the evolving regulatory landscape, and the US unit’s financial performance.”

This comes at the same time the company announced that 2Q of 2025 is expected to be the strongest quarter in the group’s history. As a result, total revenue is now expected to exceed $2.0 billion versus prior guidance of $1.925 billion.

“This is a difficult decision, particularly because our US team has worked hard and made progress over recent quarters.” – Neal Menashe, Super Group CEO

The total adjusted EBITDA is now expected in excess of $480 million versus the prior guidance of $457 million.

These results are said to be driven by strong sports results, improvements in pricing models, more efficient risk management, a full calendar of sporting events, record deposit levels, and ongoing robust customer engagement and retention across both casino and sports in key markets.

Speaking on the decision to exit the United States, Super Group CEO Neal Menashe said: “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.”

A number of strategic exit options are currently under consideration.
“We are still early in the process but nonetheless would expect to incur a one-time cash restructuring cost of approximately $30 million – $40 million in connection with such an exit and are actively pursuing multiple efforts to minimize the impact thereof,” the CFO Alinda Van Wyk says.

“Further details regarding these potential costs will be shared during our second quarter earnings release.”

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