Super Group’s Strategic Withdrawal from Portugal: A New Focus on Growth Markets
Super Group’s Decision to Exit the Portuguese Market
In a recent interview, a representative from Betway disclosed Super Group’s strategic decision to withdraw from the Portuguese iGaming sector. The company chose not to renew its license, despite it being valid until 2026, signaling a shift in their operational priorities.
Following this announcement, Portuguese regulators approved Betway’s exit. Super Group, which had become a member of APAJO—the country’s leading marketing association—in 2021, is now channeling its efforts toward markets with greater growth opportunities.
Focus on High-Potential Growth Areas
Super Group has identified other regions as more promising for expansion, including Africa, where rapid growth is anticipated. The company aims to concentrate on these established markets rather than maintaining a presence in Portugal.
A Betway spokesperson explained the rationale behind this move, stating, “After careful evaluation, we have decided to relinquish our Portuguese license to dedicate resources to existing and emerging markets with higher growth potential.”
Strong Performance Across European Markets
Despite challenges in Portugal, Super Group has reported impressive growth across Europe. The company’s revenue increased by 46% year-over-year, driven by notable gains in key countries.
The United Kingdom experienced a revenue surge of 71%, Spain saw an 11% increase, and overall, European operations contributed to a 20% rise in total revenue.
Markets Previously Abandoned by Super Group
Super Group has a history of withdrawing from markets that no longer deliver sufficient returns or face unfavorable financial conditions. The US market was exited last year despite optimistic forecasts, largely due to anticipated regulatory challenges expected to impact profitability.
Similarly, in 2023, the company left India following the introduction of a 28% tax on online gambling, which impacted its business viability there.
