April 26, 2021
The firm behind the Betway online sportsbetting brand, Super Group Holding Company Limited, has announced that it is to combine with a special purpose acquisition company (SPAC) before going public via a listing on the New York Stock Exchange.
The Guernsey-based enterprise used an official Sunday press release to detail that the $4.75 billion arrangement with Sports Entertainment Acquisition Corporation will create a new debt-free company having approximately $200 million on its balance sheet. It declared that this newly-combined entity is to subsequently have ‘access to the capital markets’ so as to be able ‘to accelerate its global growth strategy’ including into the burgeoning online gaming and sportsbetting market of the United States.
Betway owner Super Group to float in New York via SPAC deal
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Exclusive: Online bookmaker Betway parent nears $5 1 billion deal to go public -sources
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Exclusive: Online bookmaker Betway parent nears $5.1 billion deal to go public - sources
04/24/2021 | 03:40pm EDT
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(Reuters) - Super Group, the parent company of online bookmaker Betway, is nearing a deal to go public through a merger with blank-check acquisition firm Sports Entertainment Acquisition Corp at a valuation of about $5.1 billion, people familiar with the matter said on Saturday.
The deal comes as Betway, which has its roots in Europe, expands in the United States. Betway has agreed to acquire Digital Gaming Corp, tapping the online sports betting and gaming market in 10 U.S. states, according to the sources.