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.

Early entry:

Super Group Holding Company Limited explained that it is currently in the process of acquiring online sportsbetting firm Digital Gaming Corporation via a separate deal in order to give it access to ten American iGaming jurisdictions including New Jersey, Indiana, Pennsylvania and Iowa. It stated that this arrangement is currently in the process of ‘obtaining the customary regulatory approvals’ and will allow its Betway sportsbetting brand to grow its footprint across the United States.

Profitable project:

Eric Grubman, Chairman for Sports Entertainment Acquisition Corporation, used the press release to describe Super Group Holding Company Limited as possessing ‘a track record of global growth and a strong balance sheet’. He furthermore asserted that the firm’s ‘core DNA is rooted in digital technology’ and that this permits it to profitably enter ‘key markets across the globe.’

Grubman’s statement read…

“Neal and Super Group Holding Company Limited’s diverse and multi-talented global team have a great playbook for how to successfully launch and achieve profitable growth in new markets and we look forward to partnering closely with them on this exciting next chapter as a public company.”