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:
Betway Parent Company Super Group to Go Public via Merger With Sports Entertainment Corp.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.
