Super Group Holding Co, owner of Betway and Spin, is going public with a SPAC deal to bring the global online sports betting and casino company public.
The SPAC Deal: Super Group Holding Co is going public with Sports Entertainment Acquisition Corp (NYSE:SEAH).
Betway is an online sports betting company, and Spin is a multi-brand online casino.
The SPAC merger values Super Group Holdings at a pre-money equity valuation of $4.75 billion.
Shares will trade as SGHC on the NYSE after the merger is complete. Current shareholders of Sports Entertainment Acquisition will own 9.3% of the new company.
About Super Group: Super Group is licensed in 23 jurisdictions across Europe, the Americas and Africa. The company says it can scale into new markets and has proprietary marketing and data analytics to improve the customer experience.
The company had over $42 billion worth of wagers in the 12-month period ending March 2021. The company says it has over 2.5 million monthly unique active customers.
Super Group’s Betway brand has become well-known around the world with over 60 brand partnerships. Betway is a partner with the Chicago Bulls, Golden State Warriors, Brooklyn Nets and Los Angeles Clippers in the National Basketball Association.
Betway is also a brand partner of the English Premier League team West Ham United and eSports team Ninjas in Pyjamas.
Growth Ahead: One of Super Group’s biggest pushes is to expand into the fast-growing U.S. online sports betting market. The company has entered into an agreement with Digital Gaming Corporation for the rights to 10 U.S. states.
Among the 10 states are Pennsylvania, New Jersey, Colorado, Indiana and Iowa, which have all legalized online sports betting. The first U.S. bet under the partnership was taken in March.
Super Group and Digital Gaming Corporation are working to add additional licenses outside the initial 10 states.
Additional growth could come from mergers and acquisitions, according to the company’s presentation. The company will look to add companies with high value technology stacks, and business-to-consumer online casino and sports betting companies.
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