Super Group’s early July 2025 announcement that it is entirely divesting its business from the United States is a dramatic turn in a sector that has, up until recently, been defined by unchecked enthusiasm regarding the American market’s potential for growth in real estate and commercial expansion.
Though the company posted its best-ever second-quarter results, the move to leave New Jersey and Pennsylvania, its final two US states, and to manage its US operational footprint which likely involved exiting lease contracts for specialized studio and office spaces, has created questions as to whether this is a sensible deployment of capital to more stable, higher‑yield markets or whether it shows more structural issues confronting international operators in the US.
For further real estate industry analysis, check out huliq.com.
Super Group’s Real Estate in the USA
When Super Group exited New Jersey and Pennsylvania, it didn’t just pull its websites. It left behind live dealer studios and nearby offices for its U.S. staff. Those now-empty spaces sit unused until a new tenant moves in.
Vacant commercial properties still incur property taxes, utilities, insurance, security, and upkeep and converting a studio into, say, a tech office requires a lot of reconfiguring.
Regulatory Hurdles
In mid-2024, New Jersey added a 2.5% extra tax on big companies’ profits (raising the top rate to 11.5%). In Pennsylvania, the average property tax is about 1.4% of a property’s value.
In Atlantic City, casinos pay an 8% tax on games played in person, a 19.75% tax on online games, extra fees for rooms and a $2-per-night tourism fee.
All these taxes and fees can make planning tricky when it comes to real estate and profits.
This decision to retreat from the markets of the USA also shows the company recognizing that its operational strengths and growth opportunities lie in jurisdictions offering more favorable tax and regulatory environments such as parts of Europe and Canada.
Both of these also have more affordable real estate and property. Meanwhile, providers of specialized solutions, like Live88’s industry‑leading baccarat software are ready to capitalize on these gaps.
- New Jersey added a 2.5% surtax on corporate profits over $10 million in mid-2024
- Atlantic City casinos pay an 8% on-site gaming tax, a 19.75% online gaming tax, extra room fees and a $2-per-night tourism fee.
- New focus on Europe and Canada, where taxes, regulations, and real estate costs are more favorable.
Signal of Caution or Systemic Warning?
Even though the U.S. real estate and iGaming market has been growing, Super Group’s pullback highlights real estate risks that any operator should watch out for.
Long-term property costs and unpredictable rules can eat into profits, no matter how strong your sales are. Here are the main real estate red flags that this move shines a light on:
- When property taxes and licensing fees go up, landlords and tenants both feel the squeeze.
- Empty studios and offices still generate bills such as utilities, security, insurance, and maintenance add up fast.
- Turning a former live-dealer studio into something else (like a regular office) often means expensive renovations.
- Buying or leasing at the peak of demand can lock you into steep rates just before the market cools.
Reallocating Capital to Favorable Markets
Instead of further U.S. investment, Super Group signaled a refocus on jurisdictions having more advantageous property-cost profiles and simpler regulatory frameworks, namely Western Europe’s established markets, select countries with growing iGaming sectors and Canada’s Ontario province.
In these regions, lower entry-price points for commercial leases, transparent flat-fee licensing regimes, and predictable tax structures promise greater margin stability.
Super Group might not even want to put a lot of cash into building its own studios right away and they could be considering deals where casino owners pay to build the studio and then get a cut of the profits, or by using space that casinos already have for its live casino games.
Even though Super Group is changing how it handles its real estate, other companies like Live88 still believe the U.S. market has a bright future.
Permanent Retreat or Tactical Pause?
Even though Super Group has left New Jersey and Pennsylvania for now, the company says it might come back if things get easier.
They want tax rates to be steady, licensing fees to be simpler, and real estate rules to be more flexible. Until that happens, they’re putting their money into other places where property costs and regulations fit their profit goals.
It shows that no matter how well a business is doing, crazy property costs and changing rules can wipe out those gains.
Frequently Asked Questions
Why did Super Group leave the U.S. market?
Super Group exited the U.S. in July 2025 despite strong quarterly results. The company cited high property costs, complex tax structures, and regulatory uncertainty in states like New Jersey and Pennsylvania as major factors influencing the decision.
Which states did Super Group exit from?
The final two states where Super Group operated were New Jersey and Pennsylvania. Both had increasing corporate taxes, property expenses, and licensing requirements that impacted profitability.
What happens to their former properties?
The company’s specialized studios and offices are now vacant, awaiting new tenants. Even when unused, these spaces still incur property taxes, insurance, utilities, and maintenance costs. Converting such facilities for other uses can require expensive renovations.
Were rising taxes a significant factor?
Yes. In mid-2024, New Jersey added a 2.5% corporate surtax for companies earning over $10 million, raising the top rate to 11.5%. Pennsylvania’s property tax rates and additional local fees also increased the operational burden.
What are the main real estate risks this highlights?
Key risks include long-term high lease rates, expensive conversions of specialized spaces, ongoing costs for vacant properties, and sudden regulatory changes that can reduce margins.
Where is Super Group focusing now?
The company is reallocating investment toward Europe and Canada, where commercial lease rates are lower, regulations are clearer, and taxes are more predictable.
Could Super Group return to the U.S.?
Yes, the company has indicated it may re-enter if tax rates stabilize, licensing is simplified, and real estate costs become more manageable.
What’s the broader industry takeaway?
Super Group’s exit underscores how quickly rising property costs and shifting regulations can erode profitability, even in growing markets. Companies need to assess long-term real estate and compliance risks before committing to costly expansions.
