Super Group, a British company that owns a sports betting and an online casino company, is endeavoring to enter the rapidly-growing market in the U.S.
On Sunday the company revealed that it is joining with Sports Entertainment Acquisition Corp., in a deal that is anticipated to close in the second half of 2021 and would take the company public in U.S. stock markets.
Although Super Group is not licensed in the U.S. at the moment, it intends remedying that through a deal it has reached that will see it acquire Digital Gaming Corporation. Should regulators approve that deal, it would give it access to as many as 10 U.S. states, including New Jersey, Pennsylvania, Indiana, Colorado and Iowa.
The planned merger with Delaware-based Sports Entertainment Acquisition is the newest example of how appealing the U.S. market has become to sports betting and gambling companies from other nations. Prominent European gambling companies such as William Hill, Flutter, Entain and others have all staked claims to the fast-growing American market.
Neal Menashe, Chief Executive Officer of SuperGroup issued a statement saying that this listing will position them strongly to capitalize on the significant global growth opportunities ahead – including in the U.S. market.
Eric Grubman, a former Executive Vice President of the NFL, will become Chairman of Super Group while John Collins, who held executive roles with the NFL and NHL, and was president of the Cleveland Browns, will serve on the company’s Board of Directors.
These men are both part of Sports Entertainment Acquisition’s management team.
Sports Group is based in Guernsey, England and is the parent company of online sports betting brand Betway and Spin, an online casino company.
