BETWAY’S PARENT SUPER GROUP AGREES DEAL PAVING WAY FOR $5.1B PUBLIC OFFERING

Betway’s parent company, Super Group, looks set to go public with a valuation of around $5.1B USD (€4.22B euro). 

Super Group says it has entered an definitive agreement with publicly traded special acquisition company, Sports Entertainment Acquisition Corp, to enable it to go public on the New York Stock Exchange (NYSE). 

Under the terms of the deal, Eric Grubman, Sports Entertainment executive chair, will become chairman of Super Group, while Sports Entertainment CEO, John Collins, will take a place on Super Group’s board.

Betway has also announced plans to acquire Digital Gaming Corporation, which will give the group a foothold in ten US states. 

Discussing the news, Super Group CEO, Neal Menashe, said: “We have established our group as a truly global, scaled and profitable digital gaming business, delivering on our vision to bring first-class entertainment to the worldwide betting and gaming community. Becoming a public company will give us the tools to continue to grow our leading product and technology offering and deliver a strengthened brand-driven marketing strategy.”

“This listing will position us strongly to capitalize on the significant global growth opportunities ahead ‒ including in the U.S. market ‒ enabling us to further expand our robust, loyal and engaged customer base. In Eric and John, we have found the perfect partners with expertise across sports, entertainment and public markets to help us navigate our next phase of growth.”

Eric Grubman, Sports Entertainment executive chair, added: “Super Group is an online gaming and betting powerhouse with a track record of global growth and a strong balance sheet. Super Group’s core DNA is rooted in digital technology, which drives its unparalleled expertise in data and analytics. Neal and Super Group’s diverse and multi-talented global team have a great playbook for how to successfully launch and achieve profitable growth in new markets, and we look forward to partnering closely with them on this exciting next chapter as a public company.”

Super Group is currently licensed in 23 jurisdictions globally, excluding the US. Its flagship brand, Betway, has more than 60 brand partnerships with teams, leagues, and personalities around the world, including U.S. NBA teams Chicago Bulls, Golden State Warriors, Brooklyn Nets, and LA Clippers; English Premier League football team West Ham United; and esports organisations, Ninjas in Pyjamas, and PSG Esports, among many others. 

AYO.NEWS says:

As predicted years ago, the sheer scale of the potential waiting to be unlocked in the US markets is pushing firms to fortify their positions, through mergers, acquisitions, and public offerings. Just last week we saw Caesars Entertainment complete its historic $3.7B acquisition of iconic British bookies William Hill. Though the US markets are still in their infancy, it’s already gearing up to be a true clash of the titans.