With a pre-money equity valuation of $4.75 billion, Super Group Global is slated to go public through special purpose acquisition firm Sports Entertainment Acquisition Corp (NYSE: SEAH).
Eric Grubman, chairman of Sports Entertainment Acquisition Corp., and Neal Menashe, CEO of Super Group Global, came on Benzinga’s YouTube show “SPACs Attack” for an exclusive interview on Thursday.
Betway, a prominent online sports betting brand, and Spin, a multibrand online casino service, are both part of Super Group, which is a holding company for leading worldwide online sports betting and gaming enterprises.
Menashe told Benzinga that the company’s operations are totally online. He stated that Super Group’s goal is to recruit and retain clients at a large scale.
“This is a marathon, not a sprint,” the Super Group CEO stated, adding that possible strategic acquisitions of fresh market entrants, business-to-consumer models, and technologically focused enterprises offer opportunities for additional expansion.
According to Menashe, the worldwide gaming sector is predicted to exceed $100 billion by 2025. He claims that expanding into new markets allows the organization to thrive at both locally and global marketing.
Important Acquisition: Super Group has signed a definitive deal to buy Digital Gaming Corporation, a company based in the United States that is licensed in various states and is seeking further licenses.
According to Grubman, any company that wishes to be “first class” in this industry must have a global presence.
He went on to say that the key to Super Group’s success is its global presence in a variety of areas.
The National Hockey League signed a multiyear arrangement with Betway, which Grubman said as “only one of many [deals] that are in various phases of development inside Super Group.”
Super Group, a sports betting and casino company, has landed a SPAC deal: What Should Investors Know?
Notes from the SPAC: Super Group chose to go public via SPAC, according to Menashe, since the staff at Sports Entertainment Acquisition Corp. was the ideal partner for the company.
The deal should be completed in the second half of 2021. The combined firm will be listed on the New York Stock Exchange as Super Group and will trade under the ticker symbol “SGHC” pending shareholder approval.
Price Changes: Since its IPO in October, Sports Entertainment Acquisition Corp. has gone as high as $10.85 and as low as $9.59.
The stock was trading at $10.08 at the time of our latest check on Thursday.
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