{"id":6907,"date":"2024-09-19T14:35:43","date_gmt":"2024-09-19T13:35:43","guid":{"rendered":"https:\/\/sbceurasia.com\/en\/?p=6907"},"modified":"2024-09-19T14:35:48","modified_gmt":"2024-09-19T13:35:48","slug":"betway-leaves-sweden-as-super-group-targets-new-market-opportunities","status":"publish","type":"post","link":"https:\/\/sbceurasia.com\/en\/2024\/09\/19\/betway-leaves-sweden-as-super-group-targets-new-market-opportunities\/","title":{"rendered":"Betway Leaves Sweden as Super Group Targets New Market Opportunities"},"content":{"rendered":"\n

Betway<\/strong> will end its presence in Sweden\u2019s online gambling marketplace on 1 October.<\/p>\n\n\n\n

This week, Betway, the flagship sportsbook brand of Super Group<\/strong>, informed Swedish customers and media partners of its impending exit.<\/p>\n\n\n\n

Swedish customers have been advised to withdraw funds and close their accounts by 29 September, as Betway seeks to end its Swedish license on 30 September.<\/p>\n\n\n\n

The Super Group brand provided no specific reason for its withdrawal from Sweden, where its license was due to expire in 2029.<\/p>\n\n\n\n

In 2018, Betway was among the first international brands to be granted a license by the Gambling Inspectorate, Lotteriinspektionen,<\/strong> as part of Sweden\u2019s reorganization under the new Gambling Act.<\/p>\n\n\n\n

In 2024, Super Group undertook a strategic review of the geographic make-up of markets in which Betway operates.<\/p>\n\n\n\n

During H1 trading, Betway discontinued its offerings in the US wagering states<\/a> of Arizona, Colorado, Indiana, Iowa, New Jersey, Ohio, Pennsylvania, and Virginia.<\/p>\n\n\n\n

The termination of Betway\u2019s US business led to Super Group recording impairment charges of $36m, related to US withdrawal costs.<\/p>\n\n\n\n

Betway continues to see growth in European markets, with its H1 income increasing to \u20ac45m ($48.2 m.).<\/p>\n\n\n\n

European growth initiatives have seen Betway expand its presence in Italy, where it recently signed its first Serie A partnership with Bologna FC.<\/strong><\/p>\n\n\n\n

Despite these market adjustments, Super Group remains confident of achieving its 2024 guidance, targeting total revenue of \u20ac408 million ($436.5 m.) and an Adjusted EBITDA of \u20ac98 million ($104.8 m.).<\/p>\n\n\n\n

Don’t forget to subscribe to our Telegram channel!<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Betway will end its presence in Sweden\u2019s online gambling marketplace on 1 October. This week, Betway, the flagship sportsbook brand of Super Group, informed Swedish customers and media partners of its impending exit. 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