The parent company behind online sports betting brand Betway and multi-brand online casino Spin, Super Group, continued to expand into markets in the US, launching in its fifth jurisdiction. Super Group also received a new operating license in Europe.
Launch in Iowa, License in Poland
Continuing to execute on its strategy to bring its leading online sports betting and gaming offering to regulated US markets, Super Group announced today it went live in Iowa, building on operations available so far in Colorado, Indiana, Pennsylvania and New Jersey.
In Europe, Super Group’s sports betting brand Betway received a license in Poland, which upon launch is expected to leverage the appeal of the brand’s existing partnerships in neighboring Germany, especially with Bundesliga 1 soccer clubs FC Schalke 04, Hertha Berlin, VfB Stuttgart and Eintracht Frankfurt.
We are delighted to further Betway’s U.S. presence with the addition of another live market there, as well as to enhance our formidable competitive position in Europe with the new license in Poland. This progress illustrates our focus and execution as we bring Betway, the premier and unified global online sports betting brand, to customers across markets and around the world.”Richard Hasson, President and COO, Super Group
Pending Merger and Acquisition Deals
The five US regulated markets where Betway is now operational are part of a group of up to eleven states in which Digital Gaming Corporation (DGC), which already signed a definitive agreement with Super Group for its acquisition subject to customary regulatory approvals, has secured market access.
Heading into 2022, we expect the pipeline of new market expansion to be active and to continue both internationally and in the U.S., where the acquisition of DGC provides us access to a group of eleven states. In our core geographies, we continue to thrive with market leading positions, scale and financial flexibility, operating a proven, cash generative business.”Richard Hasson, President and COO, Super Group
In April, Super Group announced a definitive agreement to merge with special purpose acquisition company Sports Entertainment Acquisition Corp. (SEAH) to use the NYSE-listed company led by Eric Grubman and John Collins as a vehicle to go public.
Upon completion of the merger, based on a $4.75 billion pre-money equity valuation, the combined entity that will keep the name Super Group would proceed to list its shares on NYSE and will start public trading that will further support the company’s expansion and growth strategy not only in the US, but globally.