News In Brief: July 7 - July 11, 2025

Super Group will exit the U.S. online gaming market as part of an ongoing strategic review to streamline operations, the company announced Tuesday (July 8).

The company, which is the parent of sports-betting brand Betway and iGaming brand Spin, has set aside between $30m to $40m to cover the one-time restructuring costs associated with its U.S. iGaming exit.

“This is a difficult decision, particularly because our U.S. team has worked hard and made progress over recent quarters,” Neal Menashe, CEO of Super Group, said in a statement. 

“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.”

Menashe did not name any particular regulatory developments, but New Jersey recently increased its online gaming tax rate from 15 percent to 19.75 percent, and gaming taxes and the fate of skill games are an issue in ongoing budget negotiations in Pennsylvania, the second state where the company operates.  

He said Super Group intends to focus its resources on markets where they see the “greatest opportunity” for sustainable and profitable growth. 

Super Group’s decision to pull out of the iGaming market comes a year after the company said it would cease its Betway sports betting operations in nine states to focus on its iGaming operations in both states.

The American Gaming Association (AGA) has confirmed it supports proposed legislation to restore the 100 percent deduction for gambling losses, after lawmakers in Congress approved a limit in deductible losses for gamblers.

The new provision to the tax code, which was included in President Trump’s tax and budget bill, limits the amount gamblers can deduct from their annual winnings to 90 percent of losses.

The provision goes into effect in 2026, unless it is reversed by Congress.

Representative Dina Titus, a Democrat from Nevada, on Monday followed through on her promise and introduced the Fair Accounting for Income Realized from Betting Earnings Taxation (FAIR BET) Act that would restore the 100% deduction for gambling losses.

It’s unclear if the bill will be accepted in the Republican-controlled House of Representatives or Senate. 

“The American Gaming Association applauds Congresswoman Titus for introducing the FAIR BET Act,” the AGA said in a statement. “We are committed to working with Congresswoman Titus, other leaders, and the Trump administration to restore the long-standing tax treatment of gambling losses.”