Super Group, the parent company of Betway and Spin Casino, is pulling out of its last remaining US states, Pennsylvania and New Jersey, effectively ending its presence in the US iGaming market.
This decision follows last year’s withdrawal from the US sports betting sector.
The company attributes this strategic exit to regulatory changes that have impacted long-term profitability prospects. Super Group plans to streamline its operations and bolster long-term shareholder value through this move.
The financial impact of the exit is estimated to be between $30m and $40m, with anticipated savings expected by 2026.
The pace of iGaming expansion in the US has notably slowed, with no new states projected to launch operations this year. Additionally, the industry faces challenges such as proposed tax increases, rising competition from prediction markets and the growth of unlicensed sweepstakes casinos. These factors highlight the difficulties US operators currently face.
Super Group had previously ceased its sportsbook operations in nine US states.
Neil Menashe, CEO, elaborated on the reasoning for exiting iGaming, stating: “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.”
The exact timeline for the exit will be detailed in Super Group’s Q2 2025 earnings release in August, with further information to follow at the Investor Day event in September.
