SGHC Limited (Super Group), the parent company of global online sports betting and gaming businesses operating Betway and Spin, on Wednesday said it is adding more new markets, including a fifth live market in the US as well as a new license in Europe.
Betway is an online sports betting brand, while Spin is a multi-brand online casino offering.
The Betway brand has gone live in Iowa, joining Colorado, Indiana, New Jersey and Pennsylvania.
The company said these five states are part of a group of up to 11 states in which Digital Gaming Corporation (DGC) has secured market access. Super Group and DGC have executed a definitive agreement under which Super Group will acquire DGC, subject to customary regulatory approvals.
Separately, Super Group said Betway has been granted a license in Poland where, once launched, the brand is expected to leverage the global appeal of existing partnerships including its Bundesliga deals in neighboring Germany.
Super Group said it plans to list on the New York Stock Exchange, bringing its global online sports betting and gaming group to the US public markets, via a previously announced business combination with Sports Entertainment Acquisition Corp. (SEAH), a special purpose acquisition company led by Eric Grubman and John Collins.
“We are delighted to further Betway’s US 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,” Richard Hasson, president and COO of Super Group, said in a statement. “This progress illustrates our focus and execution as we bring Betway to customers across markets and around the world.”
A steady pipeline of additional new markets is expected to flow through this year and into next year, Hasson added: “Heading into 2022, we expect the pipeline of new market expansion to be active and to continue both internationally and in the US, where the acquisition of DGC provides us access to a group of 11 states. In our core geographies, we continue to thrive with market leading positions, scale and financial flexibility, operating a proven, cash generative business.”
Super Group is licensed in 24 jurisdictions, with sports betting and online gaming offerings in key markets throughout Europe, the Americas and Africa.
Sports Entertainment Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. SEAH is focused on targets in the sports and entertainment sectors as well as the technology and services that are associated with these verticals.
