Betway Merge with SEAC for US Expansion
Super Group will merge with SEAC and apply to list shares on the New York Stock Exchange.
Super Group, which owns online betting operator Betway, has agreed on a deal with Sports Entertainment Acquisition Corp. The purpose of this merger is to allow the business to expand its offering into the US market; a market that is now flourishing!
Super Group will merge with SEAC and apply to list shares on the New York Stock Exchange. The ticker symbol will be ‘SGHC’, with the ‘new’ business to operate under the name Super Group.
SEAC already had a sound reputation in the gambling world, being the owner of Spin; a multi-brand online casino business. This business has a $4.75bn pre-money equity valuation.
The business has recruited the help of former National Football League (NFL) executives Eric Grubman and John Collins to lead its plans for the US.
“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,” Super Group chief executive Neal Menashe said.
“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.”
SEAH chairman Eric Grubman 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.”
“This listing will position us strongly to capitalize on the significant global growth opportunities ahead ? including in the US market ? enabling us to further expand our robust, loyal and engaged customer base,” Menashe said.
“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.”
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iGaming News • United States