Super Group to Withdraw from US Market Despite Strong Performance
Super Group, the parent company of Spin and Betway, has decided to completely exit the United States market. This move comes despite the company reporting its best quarterly results so far and raising its global revenue and EBITDA forecasts for 2025. The company plans to refocus its efforts on other promising international markets that offer more sustainable growth prospects.
Overall Financial Health Remains Strong
During its second-quarter business update, Super Group emphasized that this exit represents a strategic realignment based on careful capital management and a realistic evaluation of its US operations. Although revenue and profitability have improved in key regions, changing regulations in the US market have threatened the company’s position there, prompting the decision to withdraw.
Super Group’s Chief Financial Officer, Alinda Van Wyk, highlighted that the company anticipates a one-time restructuring expense between $30 million and $40 million related to the US exit but is actively working to minimize this financial impact.
CEO Neal Menashe acknowledged that leaving the US—a major market—was a difficult choice, especially considering the significant investments of time, effort, and capital. He praised the US team’s progress despite tough conditions but noted that the complex and fragmented regulatory environment makes a profitable return on investment unlikely in the near term.
Even with challenges in the US, Super Group continues to show strong international growth. The company expects second-quarter revenue to break previous internal records, driven by favorable betting margins, a busy sports schedule, and increased customer activity. As a result, the 2025 revenue forecast has been raised to over $2 billion, with adjusted EBITDA projected to exceed $480 million.
Growth Opportunities in Canada and Africa
While legal sports betting is growing in the US, with various operators competing in newly regulated states, Super Group sees compelling prospects elsewhere. Canada remains a key market, with the company holding an 8% share in Ontario and preparing to expand into Alberta. This presence allows Super Group to maintain a foothold in North America.
Africa has also emerged as a significant growth area. The region’s revenue reached $203 million, marking a near 40% increase year over year. This success is attributed to Betway’s strong brand recognition, effective local engagement, and a growing community of mobile-savvy players, making Africa the company’s fastest expanding market.
The company’s strategy to focus on high-potential markets while reducing exposure to less stable or expensive jurisdictions aims for long-term, stable growth rather than rapid expansion. More detailed plans are expected to be shared during the upcoming Investor Day in London this September.
