Super Group Nears Deal to Go Public

Super Group, the parent company of online bookmaker Betway, nears a deal to go public through a merger with blank-check acquisition firm Sports Entertainment Acquisition Corp. Super Group has value of $5.1 billion. This comes as Betway, which has roots in Europe, extends its influence in the U.S. by acquiring Digital Gaming Corp. This will allow the company to tap into the online sports betting and gaming market in 10 states.

Under the deal, shareholders accounting for more than two-thirds of Super Group's equity will maintain their stakes. Sports Entertainment's executive chairman, Eric Grubman, who is a former National Football League (NFL) executive, will become chairman of Super Group. Additionally, Sports Entertainment CEO John Collins, a former National Hockey League chief ope...

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