Super Group plans US igaming exit after record-setting quarter
Online sports betting and gaming holding company Super Group is preparing to exit the US igaming market, even as it celebrates its strongest ever second-quarter results.
The notable Q2 results were primarily due to strong sports betting performance, enhanced pricing strategies, record deposit amounts, and high customer engagement in key regions.
The company, which operates Betway and Spin Casino, said revenue for 2025, excluding the US, is now projected to surpass US$2 billion, an increase over its earlier forecast of US$1.9 billion. Adjusted EBITDA is also expected to exceed US$480 million for the year.
Super Group Chief Executive Neal Menashe said, “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.”
Despite the growth, the US unit failed to meet Super Group’s return-on-capital standards. Menashe described the decision to exit as difficult, noting the hard work of its North American team, but argued that capital and resources should focus on markets with greater potential for profitable growth.
The exit is expected to carry a one-time restructuring cost of between US$30 million and US$40 million.
Dig deeper
Verticals:
Sectors:
Topics:
