Super Group Lifts 2025 Guidance, Plans to Exit US iGaming Market
Posted on: July 8, 2025, 12:08h.
Last updated on: July 8, 2025, 12:23h.
- Company expects one-time charge of $30 million to $40 million related to US iGaming departure
- Expects savings to be realized starting in 2026
Super Group (NYSE: SGHC), the parent company of Betway, boosted its 2025 financial guidance, but the stock fell after the gaming company announced plans to leave the US iGaming market.
Following what was described as a record second quarter, Super Group told investors it expects 2025 sales of $2 billion, up from a prior forecast of $1.92 billion. The operator forecast adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $480 million, ahead of the previously estimated $457 million. This is the second consecutive year in which the company lifted guidance.
Super Group’s positive momentum over recent quarters continued in 2Q 2025, with solid revenue growth across all markets,” according to a statement. “This was driven by strong sports results, improvements in pricing models, more efficient risk management, a full calendar of sporting events, record deposit levels, and ongoing robust customer engagement and retention across both casino and sports in key markets.”
Shares of Super Group are lower by 3.42% in midday trading, but the stock is high by 77.77% year to date, making it one of the best-performing gaming equities in 2025.
Super Group iGaming Departure Not Surprising
While long-term expectations pertaining to the US iGaming market remain robust, it’s still an expensive segment in which to operate, particularly for smaller players such as Super Group.
Though not to the extent seen in online sports betting, iGaming market share in this country is dominated by a small number of operators. Super Group isn’t part of that group, indicating continued investment in the space likely wouldn’t generate desired outcomes and could be increasingly hard to justify to investors.
“This is a difficult decision, particularly because our US team has worked hard and made progress over recent quarters,” said CEO Neal Menashe in the press release. “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.”
His commentary on the US internet casino regulatory environment is accurate as no new states have approved that form of wagering this year and some experts believe that between now and 2027, Florida will be the only one to do so.
Super Group CFO Alinda Van Wyk said the company will incur one-time charges of $30 million to $40 million related to the iGaming departure, but the operator will realize savings starting next year.
Precedent for Super Group iGaming Decision
Super Group’s decision to scrap its US iGaming operations isn’t without precedent. It arrived nearly a year to the day that the operator told investors it would leave the US sports betting industry, joining a slew of companies that made similar announcements in 2024.
At that time, Super Group was offering sports wagering in just nine states and iGaming in New Jersey and Pennsylvania.
Despite struggles in the US, Super Group has found some success in Canada and is preparing to launch iGaming in Alberta as early as 2026, adding that province to Ontario on its Canadian roster.
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