Super Group to pull sportsbook product out of US

July 10, 2024
By
Leer en Español

The company will maintain its iGaming presence in the country by operating its Spin portfolio in both New Jersey and Pennsylvania.

Super Group, the parent company of online sports betting provider Betway, has announced that the company will begin to undertake an exit plan for its sportsbook product in the US shortly. The business, which also operates online casino Spin, completed an extensive internal review leading to its decision to exit. 

“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,” Super Group CEO Neal Menashe said. 

“The vast majority of Super Group’s revenue is generated in iGaming and, in line with that strategy, we will continue to offer our casino product in New Jersey and Pennsylvania. We are open to expanding our US footprint if the right investment or strategic opportunities arise.”

The company, along with relevant regulators and partners, will begin the process of fully closing its US sportsbook operations in the nine states in which it is currently live. Super Group will, however, maintain its iGaming presence in the US and plans to operate two iGaming brands from its Spin portfolio in both New Jersey and Pennsylvania.

Super Group stated it expects to incur costs and charges in connection with the closure of its US sportsbook operation, with further information being provided by management during the next quarterly earnings call, scheduled for early August.

The news follows other strategic movement from the company, as Games Global announced that it had successfully closed a deal to acquire Digital Gaming Corporation’s (DGC) B2B assets from Super Group. The two companies officially concluded the transaction on February 1, pending necessary regulatory approvals at the time.

State-by-State

Product Spotlight

Konami

Things get unruly in the company of some fleecy characters in the new Konami Gaming’s new Unwooly Riches slot series.
GA HUDDLE #092

The top 5 properties that changed Las Vegas

Regular Gaming America contributor Oliver Lovat joins Tim Poole on the Huddle to discuss his 5 properties that changed Las Vegas - giving every resorts an influence rating out of 10. The question is: do you agree?

GA HUDDLE #091

Peter Schoenke - Sports betting is here... but fantasy sports keeps growing

Peter Schoenke joins Tim Poole on the Huddle to discuss all things fantasy sports. His brand, RotoWire, is at the intersection of the affiliate and fantasy worlds, generating revenue from subscriptions, providing APIs to operators and via affiliate marketing. We discuss:


Within the states of Florida and California, Tribal gaming finds itself in a fascinating position. In Florida, only the Seminole Tribe, and Hard Rock, can provide mobile sports betting, with continued legal challenges f...

view-points
Viewpoints: Discussing the use of player loyalty programs
Industry experts answer Gaming America's burning questions on all things related to Tribal operators and player loyalty programs, including Rymax, CasinoTrac, OIGA, Mohegan and Choctaw Nation of Oklahoma.
52-54-fabio-ferreira
Sports betting regulation in Brazil: What can we expect?
Mattos Filho's Fabio Kujawski speaks to Gaming America about the uncertainty surrounding Brazil's roadmap to regulation and the need for a singular gaming authority.
companies-going-private
Going private: Gaming's new standard?
A state of neo-IPO: Gaming America investigates, as more and more companies come off the public market.
46-47-michael-hershman
Soloviev Group CEO: Moving to New York
The Soloviev Group, in collaboration with Mohegan, continues to wait on the NYGC for approval on its Freedom Plaza project. Gaming America spoke with Soloviev Group CEO Michael Hershman to learn more.