Online sports betting and gaming company Super Group recently announced its plans to go public via a merger with SPAC Sports Entertainment Acquisition Corp. SEAH, -0.69% in a deal that values the new company at a $4.75 billion pre-money equity valuation.
As Super Group attempts to break into the U.S. market, the company believes its online-only business model and multi-country reach separates it from other U.S. brands. Many of the brands that currently offer sports betting in the U.S., like Caesars CZR, +1.25% and MGM MGM, +2.17%, have retail locations, but most offer online wagering options as well.
Super Group has legal authorization to operate in 23 countries across Europe, Africa and the Americas and the company told MarketWatch it is already profitable.
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