Betway Owners Plan NYSE Listing For Company
Betting company Betway is to be listed on the New York Stock Exchange (NYSE) by its owners Super Group, the owners are using a SPAC vehicle to enter the US listing market and propel Betway into the burgeoning US sports betting business.
Over the weekend Guernsey-based Super Group confirmed that it will use a blank-cheque SPAC, namely Sports Entertainment Acquisition (SEAC) to merge with Betway so it may be listed on the NYSE.
Early valuations have Betway and the SEAC at $4.2 billion, the plan would be for the current owner to remain the majority shareholder which at present retains 88%.
Super Group of the plans: “Super Group is an online gaming and betting powerhouse with a track record of global growth and a strong balance sheet. Super Group’s core DNA is rooted in digital technology, which drives its unparalleled expertise in data and analytics.”
Betway originated from igaming Company Win Technologies back in 2006 and has seen tremendous growth in the UK and European markets and only recently announced its first foray into the US sports betting arena.
