Super Group to withdraw from the US sportsbook market

Super Group has announced plans to exit the US sportsbook market. The company, which owns brands like Spin and Betway, currently operates its sportsbook in nine US states and intends to close these operations in coordination with regulators and partners. However, Super Group will not be leaving the US market entirely, as it plans to continue operating its Spin iGaming brands in New Jersey and Pennsylvania.

The Spin subsidiary generates most of its revenue from North American operations, as noted in the May/June edition of Gambling Insider magazine’s “Facing Facts.” Spin also has a growing presence in Europe and Asia-Pacific since 2021.

Super Group anticipates incurring costs and charges related to the US exit, which will be discussed further in the upcoming quarterly call. These charges are not expected to affect the company’s operating plans or non-US earnings.

Super Group CEO Neal Menashe stated, “As a global business, we constantly evaluate the optimal use of our resources across all markets in which we operate. We have recently concluded an extensive review of our US operations and at present, we do not see a long-term path to profitability for the sportsbook product. The vast majority of Super Group’s revenue is generated in iGaming, and in line with that strategy, we will continue to offer our leading casino product in New Jersey and Pennsylvania. We are open to expanding our US footprint if the right investment or strategic opportunities arise.”

Super Group joins several other businesses that have recently exited the US market following internal reviews. Last month, MGM Resorts International subsidiary LeoVegas acquired Tipico US’ sportsbook platform, and in March, Evoke (formerly 888) sold its US assets to Hard Rock Digital.