Super Group Holding Company (SGHC Ltd.), the parent company of online bookmaker Betway and online casino Spin, has announced a merger agreement with Sports Entertainment Acquisition Corp. (SEAH) that will see the company go public in US markets.
The merger, which is dependent on a vote by Sports Entertainment shareholders, sees Super Group valued at $4.75 billion. The deal will allow current shareholders to roll over their shares into the new combined company or cash out now.
Speaking of the merger, Neal Menashe, CEO of Super Group, 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, Chairman of the Board of Directors of SEAH, went on to add:
“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.”
In the same press release, Super Group also announced that it had agreed a deal to acquire Digital Gaming Corporation (DGC). DGC has recently secured gaming and sports betting market access in up to 10 US states including Pennsylvania, New Jersey, Colorado, Indiana, and Iowa. No further details of the acquisition have been released at the time of writing.
Ciaran has been working within the Gambling Industry as a deep analyst since 2019. His deep knowledge and understanding of all the gambling regulations, and processes makes him a true asset, and an always valuable point of view for Gambling Industry News, allowing us to cover every topics from a brand new perspective.