Under the Symbol:
Superbet Announces €175m Strategic Minority Equity Investment from Blackstone
Monday, May 13, 2019 10:25 AM
BUCHAREST, ROMANIA and LONDON, UK / ACCESSWIRE / May 13, 2019 / Superbet (the "Company"), the largest omni-channel sports betting and gaming operator in Romania, and Blackstone (NYSE: BX) announce a €175m strategic minority equity investment in Superbet by funds managed or advised by Blackstone's Tactical Opportunities business. Terms of the transaction were not disclosed.
Sacha Dragic, founder and Group CEO of Superbet, said, "We look forward to our strategic partnership with the Blackstone team. Blackstone's equity investment and extensive experience will help us maintain and grow our market-leading position in Romania and pursue expansion opportunities in Central Eastern Europe and globally."
Andrea Valeri, senior managing director of Blackstone, said, "We look forward to working with Sacha Dragic and the excellent management team he has assembled. The Company's continued investment in world-class, online and multi-channel operations, including the launch of a market-leading native app and proprietary online sports and gaming engine, is very exciting. We look forward to supporting Superbet's impressive growth trajectory, through international expansion and continued investment in technology."
Superbet's high-quality shops and customer-oriented pricing and service have underpinned its rapid growth. The Company has brought on seasoned technology leadership with strong industry experience to facilitate the development of a state-of-the-art and disruptive online sports betting platform. This provides a differentiated user experience and more flexibility and scalability than current competitive offerings.
Stifel advised on the overall transaction. Herzog, Fox & Neeman acted as legal adviser to Superbet; Jones Day acted as legal adviser to Blackstone. UBS Investment Bank provided financial advice to Blackstone.
Founded in 2008 by CEO Sacha Dragic, Superbet's retail network spans across over 1,200 shops in Romania and Poland and offers customers pre-match and live sports betting, slots, virtual betting and lottery offerings. Superbet launched online operations in Romania in February 2016, releasing a mobile native app in September 2018. The Company launched retail operations in Poland in November 2017, with the launch of online sports betting scheduled for late 2019. Superbet's technology platform and proprietary betting engine further positions the Company to expand throughout Central Eastern Europe and in the broader, global online sports betting vertical.
Blackstone is one of the world's leading investment firms. The Blackstone team seeks to create positive economic impact and long-term value for investors, the companies Blackstone invests in, and the communities in which Blackstone works. Blackstone does this by using extraordinary people and flexible capital to help companies solve problems. Its asset management businesses, with $512 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. Follow Blackstone on Twitter @Blackstone. Further information is available at www.blackstone.com.
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