Super Group Leaves U.S. iGaming Market Amid Profit Pressures

Profitability and Regulation Force Strategic U-Turn

Super Group, the company behind Betway and Spin Casino, has confirmed plans to exit the U.S. iGaming market. The operator currently runs online casino platforms in New Jersey and Pennsylvania but will soon shut down both.

The decision follows a strategic review focused on long-term profitability and capital efficiency. CEO Neil Menashe stated that the company’s required return on capital is not achievable in the U.S. market.

Super Group had already exited the sportsbook segment in 2024, and this latest move signals a complete withdrawal. The company cites regulatory uncertainty and low growth potential as primary reasons.

Exit Costs and Revised Financial Outlook

Exiting the U.S. market is expected to cost between $30 million and $40 million, with savings anticipated starting in 2026. Super Group had forecast $99.5 million in U.S. revenue for 2025 but now expects total global revenue to exceed $2 billion, excluding U.S. operations.

Increased earnings will be driven by improved pricing, stronger sports results, and better risk management. Adjusted EBITDA is now projected at over $480 million, up from a previous estimate of $457 million.

Despite the exit news, investor reaction remained muted. Shares dropped slightly from $11.38 to $11.02 on the New York Stock Exchange following the announcement.

A Sharper Global Strategy

The U.S. retreat marks a major shift for Super Group. It had entered the American market in 2021 via the acquisition of Digital Gaming Corporation, securing U.S. rights to the Betway brand. However, legal headwinds and stalled iGaming expansion have forced a reassessment.

With no new U.S. states launching online casinos in 2025 and growing competition from unregulated sites, the risk landscape has changed. Some states are also eyeing higher gambling taxes, adding to the uncertainty.

Focus Shifts to Profitable Global Markets

Super Group now aims to maximize shareholder value by concentrating on more profitable regions. The company, which went public via a $4.75 billion SPAC deal in 2022, maintains that its global strategy remains strong.

While the U.S. chapter closes, the group’s revised outlook shows it’s doubling down on markets with sustainable returns and stable regulation.