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The week kicked off with a large SPAC deal announced on Sunday, bringing a new global sports betting and online casino company public. Several other SPAC deals were announced throughout the week along with a couple rumors that could be worth a watch this week. Benzinga s SPACs Attack covered the deals and news of the week.
Here is a look back at the announced deals, rumors and some top headlines.
SPAC Deals
On Sunday, online sports betting and gaming company Super Group Holding, the owner of Betway and Spin, announced a SPAC deal with Sports Entertainment Acquisition Corp (NYSE: SEAH) valuing the company at $4.75 billion. Super Group is licensed in 23 jurisdictions with plans to use its scale and technology to expand into additional territories. In the 12-month period ending March 2021, Super Group had over $42 billion of wagers and 2.5 million monthly unique active customers.
April 27, 2021, 10:26 am ·
Super Group, the holding company for online sports betting and gaming operator Betway, is set to merge with special purpose acquisition company Sports Entertainment Acquisition Corp. (SEAH) to go public on the New York Stock Exchange.
This is the latest SPAC tie-up announced over the past year within the gambling industry as companies seek better foothold in the fast-expanding US sports betting field.
As mentioned above, Super Group is parent to Betway, a major player in Europe’s digital wagering space, but it also owns Spin, a multi-brand online casino specialist. The group is licensed in 23 territories across Europe, Africa, and the Americas.
SPACs Continue to Shine as Super Group Holding Co. Prepares to Go Public
2021-04-27 00:00:00
Brendan Fagan,
SPAC DEAL TALKING POINTS
The SPAC will trade on the New York Stock Exchange under the ticker symbol SGHC
The merger comes as high retail interest in SPACs fades, along with SPAC performance post-IPO
Super Group Holding Co. is set to list on the New York Stock Exchange following a merger with Sports Entertainment Acquisition Corp. (NYSE:SEAH), according to a statement released on Monday. Trading under the symbol SGHC, Super Group looks set to capitalize on frothy market conditions and high retail interest in SPACs. The recent retail mania, which is showing signs of dissipating, has thrust SPACs back into the limelight. To read more about the recent retail craze, please click here.
Super Group vows to keep Betway s single brand identity in pursuit of US growth sbcnews.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sbcnews.co.uk Daily Mail and Mail on Sunday newspapers.
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.