Super Group to withdraw US betting product

The firm said in a statement today (10 July) it would close its sportsbook operations in the nine states where it is currently live, as CEO Neal Menashe said it did not see a long-term path to profitability.

The Betway brand is currently live in Pennsylvania, Iowa, New Jersey, Arizona, Colorado, Indiana, Virginia, Ohio and Louisiana.

The group’s online gambling offering in New Jersey and Pennsylvania will remain, with a focus on two brands from its Spin portfolio, including its Jackpot City brand.

“The vast majority of Super Group’s revenue is generated in igaming and, in line with that strategy, we will continue to offer our leading casino product in New Jersey and Pennsylvania. We are open to expanding our US footprint if the right investment or strategic opportunities arise,” Menashe said.

The firm expects to incur the costs from shuttering these operations in its Q2 results. It does not expect related costs to have any impact of the group’s capital allocation plans.

More details to follow…