EXCLUSIVE: Super Group, Sports Entertainment Acquisition Execs Detail Operations, Acquisitions On 'SPACs Attack'

Super Group Global is set to go public via special purpose acquisition company Sports Entertainment Acquisition Corp SEAH with a pre-money equity valuation of $4.75 billion.

Neal Menashe, CEO of Super Group Global, and Eric Grubman, chairman of Sports Entertainment Acquisition Corp., appeared on Benzinga's YouTube show "SPACs Attack" for an exclusive interview Thursday. 

Super Group is the holding company for leading global online sports betting and gaming businesses: Betway, a premier online sports betting brand, and Spin, a multibrand online casino offering.

The company's operations are entirely online, Menashe told Benzinga. Super Group aims to acquire and retain customers at scale, he said. 

Opportunities for further growth exist in potential strategic acquisitions of new market entrants, business-to-consumer models and technologically focused companies, the Super Group CEO said, adding, "this is a marathon, not a sprint."

The global gaming market is expected to reach $100 billion by 2025, Menashe said. Entering new markets allows the company to excel in localized marketing, while also marketing on a global basis, he said.

Key Acquisition: Super Group entered into a definitive agreement to acquire U.S.-based Digital Gaming Corporation, which is licensed in multiple states and applying for licenses to expand into other states.

Any company that wants to be "first class" in this industry needs to have a presence around the world, Grubman said. 

The key to Super Group is its presence in lots of markets around the globe, he added. 

Betway entered into a multiyear partnership with the National Hockey League, which Grubman said is just "one of many [deals] that are in various stages of development inside Super Group."

Related Link: Sports Betting And Casino Company Super Group Lands SPAC Deal: What Investors Should Know

SPAC Notes: Menashe told Benzinga that Super Group chose to go public via SPAC because the team at Sports Entertainment Acquisition Corp. were the perfect partners for the company. 

The transaction is expected to close in the second half of 2021. Pending shareholder approval, the combined company will be listed on the New York Stock Exchange as Super Group and trade under the ticker symbol "SGHC."

Price Action: Sports Entertainment Acquisition Corp. has traded as high as $10.85 and as low as $9.59 since its IPO in October.

At last check Thursday, the stock was trading at $10.08.