Super Group has announced they will exit the US markets amid fears of regulatory hurdles that are set to pose a challenge for profitability.

Its market share has been carried by its two flagship brands – the Betway sportsbook and the Spin online casino. Facing off against FanDuel and DraftKings, Betway managed to establish itself across a total of nine states.

Super Group’s remaining presence in New Jersey and Pennsylvania through Spin is set to cease as it said it intends to give up on its US ambitions and will shutter its iCasino operations in both locations.

CEO Neal Menashe blamed “regulatory developments, suggesting the company’s own “stringent hurdle” for profitability would “likely not be met in this market any time soon.” However, it is confirmed that the closure of its US operations would mean a one-off hit of $30m-$40m.

In addition, reports of a potential hike in tax rates, with New Jersey policymakers openly discussing a hike of the current 13% levy to 25% for online sports betting and iGaming, has also played its part in their exit.

Menashe himself recently commented that US marketing is a financial weak spot: “In the US, we are covering all costs except for marketing.”

He then added: “We 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.”

Record performances despite US planned closures

Moreover, Super Group confirmed it had seen a record performance in Q2 and was upping its guidance for FY25 to revenues ex-US of $2bn vs. the previous estimate of $1.93bn while adj. EBITDA is now expected at $480m vs. the previous $457m.

Two reasons for their success are reportedly down to strong sports results alongside operational improvements and “robust” customer metrics.

Menashe hailed Super Group’s success in Africa where he said its Betway brand had achieved a market dominance in key markets, including South Africa, Ghana, Zambia and Mozambique, that was akin to the OSB duopoly in the US. In what is an emerging market, they have strongly established themselves in that region to great effect.

In terms of the figures, Q1 revenue rose 25% to $517m while adj. EBITDA soared 120% to $111m with the company seeing 31% YoY in Africa and a 78% leap in the UK.

Previous decisions based on profitability scales

Menashe has withdrawn from Portugal, France, Belgium and India since it floated on the New York Stock Exchange in 2022, reducing its number of licences to 17. And its latest US exits continues to add to the list.

Another area it was close to joining was Brazil. In fact, the company had applied for a license but decided against pursuing a share in the market due to the regulatory regime in place. It is something that the Betway claimed wasn’t viable from a profitability standpoint in May, 2025.

“If we did Brazil, we would have to give up somewhere else and we would have to take the marketing budget and give it to Brazil,” says Menashe.

“Well why? If we’re not even the market leader in some of these other countries, surely it’s better to spend the money on marketing and improvements on the product. With this we get huge operational leverage.

“The UK is one of them. We have a small market share there relative to – let’s say – Flutter, which owns a lot of brands. But we can grow easily – and that’s really the point.”

Super Group are expected to give their Q2 reports in August.