Betway’s parent company has announced it is withdrawing the brand from the US sports betting market. In a press release on Wednesday, Super Group CEO Neal Menashe said that it is constantly evaluating its business operations to ensure that it’s optimally allocating resources and that ultimately the company doesn’t see a long-term journey to profitability in the US betting market.
will continue with its iGaming brands that operate in Pennsylvania and New Jersey
Betway’s sportsbooks are live in nine states and the company will work with regulators to shut them down. Super Group will continue with its iGaming brands that operate in Pennsylvania and New Jersey through its Spin subsidiary.
Menashe noted that the bulk of its revenue in the country comes from iGaming, which is why it will maintain a foothold in the US. Super Group will keep an eye out for potential strategic opportunities in the US market.
The parent company’s management will outline the costs associated with closing its sportsbook operations during its quarterly earnings call in August.
Betway isn’t the only betting brand saying goodbye to the US. SaharaBets also revealed this week that it is closing down its platform in Arizona.