Betway parent Super Group marching into US online sports betting market
British gambling company Super Group, the owner of online sports brand Betway, is seeking to enter the thriving US market.
The holding company of online sports betting operator Betway is expanding its offerings into US
According to Super Group, it is joining with Sports Entertainment Acquisition Corp. in a deal expected to close in the second half of 2021 that would take the company public in US stock markets.
Super Group is not currently licensed in the US but aims to resolve that through an agreement to buy Digital Gaming Corporation. If approved, that would give it access to as many as 10 US states, including Pennsylvania, New Jersey, Colorado, Indiana and Iowa.
Super Group set for US listing with $4.75 billion SEAC merger
The proposed merger with Sports Entertainment Acquisition is the latest example of how attracting the US market has become to gambling companies from other countries.
Established European betting companies like William Hill, GVC, Flutter and others have all staked claims to the fast-growing American market.
“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 gaming community… This listing will position us strongly to capitalize on the significant global growth opportunities ahead, including in the US.” said Neal Menashe, SuperGroup’s CEO.
Eric Grubman, a former executive vice president of the NFL, will become chairman of Super Group. John Collins, who held executive roles with the NFL and NHL, and was president of the Cleveland Browns, will serve on the board of directors. Both men are part of Sports Entertainment Acquisition’s management team.
Betway keeps expanding partnership with sports teams
Super Group is the parent company of Betway, an online sports betting brand, and Spin, an online casino company. The company is licensed in 23 countries in Europe, the Americas and Africa.
It took in more than $42 billion in wagers in the 12 months leading up to March 2021, and has over 2.5 million active customers.
Betway has more than 60 brand partnerships with teams, leagues and sport personalities around the world, including NBA teams the Chicago Bulls, Golden State Warriors, Brooklyn Nets and Los Angeles Clippers; the English Premier League football team West Ham United and the eSports team Ninjas in Pyjamas.
Editing by Rachel Hu
