Super Group to Combine With SPAC Sports Entertainment Acquisition Corp.
New York – April 25, 2021 – Cooley advised Super Group, a holding company for leading global online sports betting and gaming businesses Betway and Spin, on its agreement to merge with Sports Entertainment Acquisition Corp., a special purpose acquisition company or SPAC. The transaction places a pre-money valuation on Super Group of $4.75 billion and will result in the combined business being publicly listed on the New York Stock Exchange under the symbol “SGHC.” Partners Justin Stock, Garth Osterman, Miguel Vega and David Peinsipp led the Cooley team advising Super Group.
The combination will give Super Group access to the capital markets and a strong platform to accelerate its global growth strategy, as well as expansion into the fast-growing US online sports betting and gaming market. The transaction is expected to close in the second half of 2021.
“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 betting and gaming community,” Neal Menashe, CEO of Super Group, said in a news release. “Becoming a public company will give us the tools to continue to grow our leading product and technology offering and deliver a strengthened sponsorship-driven marketing strategy.”
Super Group, the holding company for Betway, a premier online sports betting brand, and Spin, a multi-brand online casino offering, is licensed in 23 jurisdictions, with leading positions in key markets throughout Europe, the Americas and Africa. The group’s successful sports betting and online gaming offerings are underpinned by its scale and leading technology, enabling fast and effective entry into new markets. Its proprietary marketing and data analytics engine empowers it to responsibly provide a unique and personalized customer experience.
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