Super Group and its various online sportsbook and casino brands have a large Canadian footprint. That will soon be its only online gambling presence in North America.
The company, which owns brands such as the Betway sportsbook and online casinos such as Jackpot City and Spin, announced on July 8 that it will be ending its remaining operations in the U.S. market.
Super Group is making this decision after it shut down Betway’s sports betting south of the border last year, citing a lack of profitability. The parent group retained a U.S. presence by offering online casino gaming via Jackpot City and subsequently also Spin in New Jersey and Pennsylvania.
But, in a statement on Tuesday, the company said that it has decided to complete a full withdrawal from the country after a review of its global priorities, regulatory developments and the U.S. unit’s financial performance. The company is evaluating its strategic options for the exit.
Super Group does not expect the U.S. shutdown to impact its operations in Canada.
“This is a difficult decision, particularly because our U.S. team has worked hard and made progress over recent quarters,” said CEO Neal Menashe in a statement.
“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.”
Across the great divide
Whereas Super Group’s leaders evidently feel that pursuing profitability in the U.S. was no longer viable, north of the border, things are very different for the company.
The company said on Tuesday that it expects the quarter ended June 30 to be the strongest in the company’s history, and it raised the guidance for its ex-U.S. revenue and adjusted EBITDA accordingly.
While it is yet to break down financials by market for that quarter, we know from the previous quarter’s reporting that most of Super Group’s North American revenue is Canadian, and Canadian revenues grew 13% year-over-year in the three months ended March 31.
In Ontario’s regulated market, where it runs Betway and four online casino brands, its revenue grew 2%. In the rest of Canada, where Super Group is reputedly the commercial market leader outside of Ontario, per H2 Gambling Capital data shown to Canadian Gaming Business, revenue climbed 16%. Menashe noted late last year that Jackpot City in particular “continues to be a leading brand across [Canada].”
Super Group is planning to apply for a licence in Alberta when that province begins regulating commercial iGaming in early 2026.
“We learned how we migrate our customers’ databases from Ontario and we’ve learned what maybe we didn’t do correctly,” Menashe told investors and analysts on an earnings call in May. “We will never make the same mistake twice, and that’s how we’ve always been. So, we wait for it. The product’s being built ready, we wait for all the regs [regulations] and we know exactly what we need to do there.”
