In a significant move for the online gaming and sports betting industry, Super Group—parent company of renowned brands Betway and Spin—has announced the closure of its sportsbook operations in the United States. This decision comes after a thorough internal review and reflects a strategic pivot in the company’s approach to the US market.
Why Super Group is Closing its US Sportsbook
Super Group’s decision to wind down its sportsbook operations in nine states marks a major shift in its business strategy. Chief Executive Officer Neal Menashe explained that the company’s extensive review revealed a lack of long-term profitability prospects for their US sportsbook product. Despite the growing interest and investment in sports betting, Super Group’s analysis suggested that the current market dynamics do not support sustained profitability in this segment.
Impact on US Operations
Super Group’s exit from the US sportsbook market will affect its operations across the nine states where it was actively involved. However, the company will not be retreating entirely from the US. Instead, it will maintain its presence through its iGaming operations. The company’s two prominent iGaming brands—Jackpot City and Spin—will continue to operate in New Jersey and Pennsylvania, where they have established a strong foothold.
Future Strategy and Outlook
Super Group is set to concentrate on its iGaming segment, which represents the bulk of its revenue. By focusing on casino products in New Jersey and Pennsylvania, the company aims to leverage its strengths in this area while remaining open to new opportunities. Menashe indicated that Super Group is keen on exploring future growth avenues in the US, provided they align with the company’s strategic goals and offer promising returns on investment.
Super Group’s decision to cease its US sportsbook operations highlights a broader trend of companies reassessing their market strategies in response to changing economic conditions and competitive landscapes. As Super Group refines its focus on iGaming and remains open to potential expansion, the move underscores the evolving nature of the online betting industry and the importance of strategic adaptability in a competitive market.