Super Group Global is about to approve the public acquisition of special corporate targets Sports Entertainment Acquisition Corp (NYSE: SEAH) with a fair valuation before the currency of $4. 75 billion.
Neal Menashe, CEO of Super Group Global, and Eric Grubman, president of Sports Entertainment Acquisition Corp. , gave the impression on Benzinga’s YouTube screen “SPACs Attack” for an exclusive interview Thursday.
Super Group is the corporate holding company of the world’s leading online sports and gaming companies: Betway, a leading online sports brand, and Spin, a multi-brand online casino offering.
The company’s operations are completely online, Menashe told Benzinga. Super Group aims to win and retain consumers on a scale, he said.
The global gaming market is expected to succeed by $100 billion by 2025, Menashe said. The penetration of new markets allows the company to excel in the localized market, while marketing globally, he said.
Key Acquisition: Super Group has signed a definitive agreement to obtain the U. S. Corporate Digital Gaming Corporation. U. S. , it has a license in several states and is applying for licenses to expand in the states.
Any company that needs to be “first class” in this industry will have to provide it around the world, Grubman said.
The key to Super Group is its presence in many markets around the world, he added.
Related link: Supergroup of sports betting and casino company signs PSPC deal: what investors should know
PSPC Notes: Menashe told Benzinga that Super Group chose to approve the public PSPC because the team at Sports Entertainment Acquisition Corp. he was the ideal spouse for the company.
The transaction is expected to be completed in 2021. Pending shareholder approval, the merged company will be listed on the New York Stock Exchange as a Super Group and will trade under the stock symbol “SGHC”.
Price Action: Sports Entertainment Acquisition Corp. has been at $10. 85 and $9. 59 since its IPO in October.
In thursday’s latest check, inventory is trading at $10. 08.