Betway owner Super Group to float in New York via SPAC deal
The acquisition by a so-called ‘blank cheque’ company values the sports betting group at around US$5bn. image credit: Silvi Photo / Shutterstock
Betway owner Super Group has been targeted in a SPAC deal valuing the online betting group at around US$5bn.
The Sports Entertainment Acquisition Corp (NYSE:SEAH) vehicle is to acquire the company and bringing the online betting firm onto the New York Stock Exchange.
Concurrently, Betway is acquiring a US sports betting company called Digital Gaming Corp to add access to 10 US states.
In Monday’s pre-market the SEAH vehicle is indicated around 7.46% higher at US$10.51 per share.
Betway owner Super Group to float in New York via SPAC deal
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NEW YORK Super Group, the parent company of online bookmaker Betway, said on Sunday it has agreed to go public through a merger with blank-check acquisition firm Sports Entertainment Acquisition Corp at a valuation of around $5 billion.
The deal comes as Betway, which has its roots in Europe, expands in the United States. Betway also said it has agreed to acquire Digital Gaming Corp, tapping the online sports betting and gaming market in 10 U.S. states.
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