Super Group Lifts 2025 Guidance, Plans to Exit US iGaming Market
- 08 Jul 2025
- Gambling News
Betway's parent firm, Super Group (NYSE: SGHC), increased its 2025 financial guidance, but the stock dropped after the gaming company revealed its intention to exit the US iGaming sector.
Super Group informed investors that it anticipates 2025 revenues of $2 billion, up from a previous projection of $1.92 billion, after what was characterized as a record second quarter. In contrast to the initial projection of $457 million, the operator projected adjusted profits before interest, taxes, depreciation, and amortization (EBITDA) of $480 million. The company has raised guidance for the second year in a row.
"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.”
Super Group is one of the top-performing gaming stocks in 2025, with shares down 3.42% in noon trade but up 77.77% so far this year.
It's Not Surprising That Super Group iGaming Left
Long-term projections for the US iGaming business are generally optimistic, but it's still a costly market to be in, especially for smaller firms like Super Group.
A few number of providers control the majority of the iGaming market share in this nation, however not to the same degree as online sports betting. The fact that Super Group is not included in that group suggests that further investment in the field is unlikely to produce the expected results and may become more difficult to defend 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 assessment of the regulatory landscape surrounding US online casinos is spot on, as no new states have authorized this type of gambling this year, and according to some analysts, Florida will be the only state to do so until 2027.
According to Super Group CFO Alinda Van Wyk, the operator will start to save money next year, but the business will have to pay $30 million to $40 million in one-time fees for the iGaming exit.
Setting the Standard for the Super Group iGaming Decision
There is precedent for Super Group's decision to discontinue its US iGaming business. It came about a year before the operator announced to investors that it will exit the US sports betting market, following a long line of businesses who did the same in 2024.
Only nine states offered sports betting at the time, and New Jersey and Pennsylvania offered iGaming.
Super Group has had some success in Canada despite difficulties in the US, and it plans to introduce iGaming in Alberta as early as 2026, joining Ontario on its Canadian roster.
