Super Group has announced its intention to exit the US iGaming market following a record-breaking Q2, citing regulatory changes.
Super Group today (8 July) announced its intention to exit from the US iGaming market following a record-breaking Q2, citing regulatory changes that have impacted long-term profitability expectations.
The holding company for Betway and Spin brands revealed the strategic decision alongside raised full-year guidance, with ex-US revenue now expected to exceed $2bn and adjusted EBITDA projected above $480m for 2025.
Chief executive Neal Menashe said: “This is a difficult decision, particularly because our US team has worked hard and made progress over recent quarters.
“Nonetheless, 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.
“We therefore intend to focus capital and resources on markets where we see the greatest opportunity for scalable, sustainable, profitable super growth, with a disciplined emphasis on operational efficiency.”
The withdrawal is expected to incur one-time restructuring costs of between $30m and $40m, with savings anticipated to begin in 2026.
Chief financial officer Alinda Van Wyk added: “Various strategic exit options are under consideration. We are still early in the process but nonetheless would expect to incur a one-time cash restructuring cost of approximately $30m- $40m in connection with such an exit and are actively pursuing multiple efforts to minimise the impact thereof.
“Further details regarding these potential costs will be shared during our second quarter earnings release.”
Super Group US exit follows robust Q2
Despite the planned US exit, Super Group reported robust performance in its second quarter, which it expects to be the strongest in the company’s history.
The results were driven by strong sports outcomes, pricing optimisation, improved risk management, and robust customer engagement across both casino and sports betting in key markets.
The company raised its full-year 2025 guidance significantly, with total revenue now expected to exceed $2bn compared to previous guidance of $1.93bn.
Adjusted EBITDA forecasts were also increased to more than $480m from $457m previously.
Menashe added: “We are very pleased with our performance in the second quarter, reflecting continued momentum and discipline across our core markets and further validating the strength of our operating model and brands. We remain focused on driving profitable and sustainable growth through consistent execution and continue to be super-confident in the long-term growth potential of our business.”
The positive momentum was attributed to solid revenue growth across all markets, record deposit levels, and a full calendar of sporting events that drove engagement.
The company noted improvements in pricing models and more efficient risk management as key factors in the strong performance.
The company has also scheduled an investor day for 18 September 2025 in London, where it will present its longer-term outlook and strategic direction following the restructuring.