During its most recent earnings report, Super Group made a point of segregating its performance in the U.S. from the rest of its results.
The exclusion is understandable, as the parent company of Betway reported €18 million in losses on the quarter and €57 million in 2023 overall.
“We are not pleased with the status quo,” said Super Group CEO Neal Menashe on the company’s earnings call. He went on to note that the company is evaluating all of its options in the market. Those options include pulling out of states, focusing on states with existing online casino markets and supplementing the business through M&A. Menashe also specified that the company is looking state-by-state about how to proceed.
Betway’s sportsbook is currently live in nine states and has online casinos in two of those, Pennsylvania and New Jersey. Earlier this year, the operator decided not to renew its license in Massachusetts, where it had a license but failed to ever launch a product.
Super Group President & COO Richard Hasson did say he does not anticipate that the company will lose as much as it did in North America over the course of 2023.
“The U.S. is proving tough,” Hasson admitted. “And while we have spent time and put investment to work in the market, similar to all of the other markets around the world, it’s important to us that we are constantly evaluating and re-evaluating what we’ve invested in the market, and ultimately how we can get to a profitable, sustainable business.”
