An interview with a Betway spokesperson disclosed the strategic direction Super Group has chosen for the brand. The spokesperson indicated that Super Group decided to withdraw Betway from the Portuguese iGaming market.
Shortly after this interview, the Portuguese regulator approved Betway’s request to exit. Although Super Group could have extended its license until 2026, it chose not to. The company had joined APAJO, Portugal’s main industry body, in 2021, only a year after entering the market.
Super Group aims to focus on “growth areas with more potential” and well-established markets, now shifting attention to regions like Africa, which is seen as promising for growth.
The Betway spokesperson told iGB: “After a thorough review, we have decided to relinquish our licence in Portugal to focus on existing markets and growth areas with more potential.”
Despite financial challenges in Portugal, Super Group has achieved strong performance elsewhere in Europe. Their revenue increased by 46% year-over-year, with notable growth in Spain and the United Kingdom.
The UK saw a 71% revenue increase, Spain 11%, and Europe overall a 20% rise in revenue for the company.
In recent years, Super Group has exited several markets due to declining profits or insufficient returns on investment.
Last year, the company left the US despite favorable projections, anticipating reduced results due to new regulations.
In 2023, Super Group exited India following the introduction of a 28% online gambling tax rate.
- SCCG Management. The Gambling Industry’s Global Connector. Access Here.
- Source: SCCGManagement.com
