Super Group has announced that they will develop a plan for exiting their sports betting products in the United States.
The operator, parent company to brands such as Spin and Betway, currently offers sports betting in nine US states and plans to work with necessary regulatory bodies and corporate partners to shut down these operations. However, this does not mean a complete withdrawal from the US, as Super Group intends to operate two iGaming brands in New Jersey and Pennsylvania through its Spin portfolio.
Looking at Super Group’s subsidiary Spin, this online casino generates a majority of its revenue from North American operations, as seen in the May/June edition of "Facing the Facts" in Gambling Insider magazine. However, Spin has also been active in Europe and Asia, exhibiting steady growth since 2021.
As part of exiting the US operations, Super Group anticipates incurring costs and expenses, and plans to provide further details during the upcoming quarterly conference call. However, Super Group believes these costs will not impact operational plans nor affect revenues outside the United States.
Regarding the exit plan, CEO Neal Menashe of Super Group stated: “As a global entity, we continuously assess the best utilization of our resources across all our operating markets. Following a thorough review of our US operations, we currently see no long-term, profitable pathway for our sports betting products.”
“The vast majority of Super Group’s revenue comes from iGaming, and based on this strategy, we will continue to offer our leading casino products in New Jersey and Pennsylvania. We are open to expanding our business in the US should suitable investment or strategic opportunities arise.”
Super Group is among several companies that have exited the US market following internal reviews. At the end of last month, MGM International Resorts subsidiary LeoVegas acquired the sports betting platform of Tipico US, while Evoke (officially named 888) sold its US assets to Hard Rock Digital in March.
