Super Group announces plan to exit US markets
Super Group, the holding company for leading global online sports betting and gaming businesses Betway, a premier online sports betting brand, and Spin, a multi-brand online casino offering, intends to exit its US iGaming operations, following a comprehensive evaluation of its global priorities, the evolving regulatory landscape, and the U.S. unit’s financial performance.
Neal Menashe, Chief Executive Officer, stated, “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.”
Alinda Van Wyk, Chief Financial Officer, commented: “Various strategic exit options are under consideration. We are still early in the process but nonetheless would expect to incur a one-time cash restructuring cost of approximately $30m to $40m in connection with such an exit and are actively pursuing multiple efforts to minimize the impact thereof. Further details regarding these potential costs will be shared during our second quarter earnings release.”
The company also provided an update for its second quarter performance, raised 2025 guidance and announced its intention to exit from the U.S. as part of an ongoing strategic review to streamline operations and enhance long-term shareholder value.
Super Group’s positive momentum over recent quarters continued in 2Q 2025, with solid revenue growth across all markets. This was 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.
As a result, Super Group is pleased to announce that 2Q 2025 is expected to be the strongest quarter in the Group’s history. This continued and diversified strength increases confidence in the full-year outlook for 2025, and the Group is raising Ex-U.S. guidance accordingly:
Total revenue is now expected to exceed $2bn vs. prior guidance of $1.925bn. Total Adjusted EBITDA is now expected in excess of $480m vs. prior guidance of $457m.
Neal Menashe, Chief Executive Officer, commented: “We are very pleased with our performance in the second quarter, reflecting continued momentum and discipline across our core markets and further validating the strength of our operating model and brands. We remain focused on driving profitable and sustainable growth through consistent execution and continue to be super-confident in the long-term growth potential of our business.”
