The changes that have occurred in the U.S. gambling industry aren’t just good news for Americans. British companies are heading across the pond to grab a share of the market and that includes Super Group.
The British company are the parent company of online sportsbook Betway and also the online casino, Spin. They are based in Guernsey and already have become a global company and are licensed in 23 countries.
Despite the pandemic, they accepted wagers of over $42 billion in the 12 months going up to March of this year. With over 2.5 million active customers, they are an expanding business. Betway are known for their partnership deals with sporting teams around the world. This includes sponsoring West Ham United and deals with several NBA teams including the Los Angeles Clippers and Golden State Warriors. All very handy in getting your brand known in the U.S.
More customers will be on the way now they are heading to the U.S. market. Sunday 25 April saw them announce a deal with Sports Entertainment Acquisition Corp. The deal is expected to be completed in the second half of 2021. On completion, this will see them going public on American stock markets.
U.S. License Requirements
At present Super Group do not hold any American licenses. That will change though as they are attempting to acquire Digital Gaming Corporation. That will need approval by regulators but it’s a major step forward for them if that happens. They will then have licenses in states such as Indiana, Iowa, Colorado and New Jersey.
The number of online and land-based sportsbooks in the U.S. has been steadily climbing in recent years. Individual states can now pass laws that legalizes gambling, and many are doing so. That’s good news for gamblers, those looking to run sportsbooks and the states who get millions in tax revenue.
Experience is needed to run a successful sportsbook and that’s something British companies possess. Already, William Hill, Flutter and GVC have gone across the pond and made deals with American companies, now it’s the turn of Super Group.
The deal sees two members of the Sports Entertainment Acquisition management team get important roles with Super Group. Eric Grubman will become the new Super Group chairman. John Collins joins the board of directors. Both have also held executive positions with the NFL. All a bit of a change from the days when the NFL spoke out against betting on sport.
Neal Menashe is the CEO of Super Group and made a statement at the weekend about their U.S. plans. He said that Super Group had already established themselves as a “truly global, scaled and profitable digital gaming business.” The proposed deal will see them in a position where they an “capitalize on the significant global growth opportunities ahead including in the U.S. market.”
