UK firm Super Group entering US sports, online casino market
ATLANTIC CITY, N.J. (AP) — Super Group, a British company that owns a sports betting and an online casino company, is seeking to enter the fast-growing U.S. market.
The company said Sunday it is joining with Sports Entertainment Acquisition Corp., in a deal expected to close in the second half of this year that would take the company public in U.S. stock markets.
Super Group is not currently licensed in the U.S., but aims to remedy that through a deal it has reached to acquire Digital Gaming Corporation. If approved by regulators, that deal would give it access to as many as 10 U.S. states, including Pennsylvania, New Jersey, Colorado, Indiana and Iowa.
The proposed merger with Delaware-based Sports Entertainment Acquisition is the latest example of how alluring the U.S. market has become to sports betting and gambling companies from other nations. Established European gambling companies like William Hill, GVC, Flutter and others have all staked claims to the fast-growing American market.
“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, SuperGroup's CEO, said in a statement. “This listing will position us 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. 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. Both men are part of Sports Entertainment Acquisition's management team.
Based in Guernsey, England, Super Group is the parent company of Betway, an online sports betting brand, and...