Super Group exits US iGaming market despite Q2 surge
Super Group, the parent company of Spin Casino and Betway, has officially announced its withdrawal from the Pennsylvania and New Jersey iGaming markets, marking a complete exit from the US online gambling sector. Having gone public in 2022, the company is now shifting its strategic focus towards operational efficiency and profitability in more favourable regions.
Timeline of Super Group’s US market exit
Super Group began scaling back its US operations by exiting the sports betting market in mid-2024. This move reflected the growing challenges of operating in a highly competitive and costly environment. The company later confirmed plans to shut down its iGaming operations in Pennsylvania and New Jersey—its final two active US markets—by July 2025. While an exact closure date has not yet been disclosed, further details are expected during the company’s Q2 2025 earnings call in August and its Investor Day in September.
Key factors behind the exit
Regulatory and cost pressures: Operating online 바카라s in the US entails high licensing fees and tax rates, particularly in states such as Michigan and Ohio. Super Group cited these financial and regulatory burdens as unsustainable for long-term viability.
Slower market expansion: The legalisation of iGaming in the US has slowed, with fewer states entering the market. Those that do often impose strict regulations and offer limited growth potential.
Intense market competition: The US iGaming market is dominated by domestic giants like FanDuel, DraftKings, and Caesars. This saturation has made it difficult for international firms like Super Group to secure significant market share.
CEO’s strategic rationale
Neal Menashe, CEO of Super Group, stated that the US market no longer aligns with the company’s capital allocation standards due to its low return on investment. The decision to withdraw is part of a broader strategy aimed at enhancing long-term shareholder value by reallocating resources to regions with greater potential for scalable and sustainable growth.
“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,” Menashe explained.
Financial impact
Super Group anticipates a one-time cost of between $30 million and $40 million as part of its US exit. Despite this initial financial hit, the company expects to realise operational savings beginning in 2026 as it redirects resources away from underperforming markets.
The . While this represents a notable loss, Super Group has reaffirmed its commitment to focusing on markets with stronger return-on-investment potential.
Strategic shift to Canada and Africa
Super Group, which currently operates in Ontario, has announced plans to enter the Alberta market by 2026. The company highlighted Canada’s more transparent regulatory framework as a favourable environment for growth. Meanwhile, Africa has overtaken North America as Super Group’s most lucrative region, driven by strong user engagement across multiple countries and lower market entry costs.
Compared to the US, markets such as Canada and Africa offer fewer regulatory hurdles, higher profit margins, and greater scalability—key factors underpinning Super Group’s long-term growth strategy.
Updated 2025 financial forecast
Excluding US operations, Super Group has raised its 2025 revenue forecast to nearly $2 billion, up from a previous estimate of $1.92 billion. The company also revised its EBITDA target to exceed $480 million, citing improved margins, successful sporting events, and more effective pricing strategies.
Following the announcement of its US exit, Super Group’s shares fell by 3.42 percent on 8 July 2025, closing at $11.02. Despite the dip, the stock remains one of the gaming industry’s top performers in 2025, having risen 77.77 percent year-to-date.
