Betway and Spin parent company pivots focus to core markets amid regulatory headwinds
Super Group, the global operator behind Betway and Spin, has significantly upgraded its 2025 financial guidance following what is expected to be its strongest quarter on record. The company now anticipates full-year revenue exceeding $2 billion, up from its previous projection of $1.93 billion, with adjusted EBITDA revised upward to $480 million from $457 million.
Q2 Delivers Historic Results
CEO Neal Menashe emphasized the company’s operational momentum, calling the second quarter a validation of Super Group’s scalable, multi-market model:
“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.”
Super Group’s previous quarterly report already hinted at this performance, with Q1 revenues growing 25% year-on-year, driven by broad success across its verticals, particularly in Europe and Africa.
Strategic Pivot: Withdrawing from the U.S. Market
In a striking move, the company announced its planned withdrawal from all U.S. operations, citing shifting regulatory dynamics, capital deployment concerns, and long-term return considerations.
Despite progress by the U.S. team, Menashe noted:
“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.”
This retreat underscores the increasing complexity and cost of maintaining competitive U.S. operations amid state-by-state licensing, advertising restrictions, and escalating tax burdens—factors that have reshaped the strategic priorities of several international operators.
Financial Impact and Global Priorities
CFO Alinda Van Wyk disclosed that the exit will likely incur a one-time restructuring charge between $30 million and $40 million, though the company is working to mitigate the financial hit. Multiple exit scenarios are under review, with more details expected in the forthcoming Q2 earnings release.
Super Group will now refocus its capital and energy on Europe, the Americas (excluding the U.S.), and Africa, where it believes scalable and sustainable growth is more attainable. The company has long held strong positions in regulated European markets and continues to expand its footprint across Latin America and Africa—regions with rising iGaming and sportsbook penetration.
Looking Ahead: Disciplined Expansion Over Risky Diversification
This strategic pivot represents a broader trend in global gaming: while the U.S. remains an enticing market, the path to profitability is unclear for many operators facing intense competition and compliance costs. Super Group’s decision to exit reflects a disciplined approach to capital efficiency, rather than an outright retreat from ambition.
As regulatory pressure continues to mount in mature markets, Super Group’s sharpened focus on high-ROI jurisdictions may prove prescient. Investors will be watching the Q2 earnings call closely for insight into how the company will reallocate its resources in 2025—and where it sees the next wave of profitable growth.
