Superbet said on 7 February the funds would support growth in new markets like Brazil, and M&A optionality. It will also further investment in innovative technologies.
According to a statement, recent funding from its consortium of investors has enabled Superbet to invest heavily in its proprietary technology platform. It has also been able to accelerate growth across Europe.
Superbet was one of the first to be granted a full online betting licence in Brazil on 1 January. It was among 14 to be granted a full licence upon the market’s opening. Another 56 operators were handed provisional licenses as they finalised compliance documents and technical certifications.
Hans-Holger Albrecht, Superbet’s chairman said his company is “delighted” with the deal.
“The fact that we have two blue-chip investors, Blackstone and HPS, is not only a milestone for the company, but also, given our strong balance sheet, is something that enables us to continue our expansion story, driven by our unique tech and product position,” he said.
“Together with Blackstone and HPS, we will drive sustainable growth through investments in innovative technology, the enhancement of our entertainment ecosystem, and strengthen our strong culture of responsible entertainment.”
Blackstone ‘proud’ to support Superbet
Raphael de Botton, senior managing director for Blackstone Tactical Opportunities, said his company is “proud” to support Superbet.
Superbet founder and co-CEO “Sacha (Dragic) is a visionary founder and entrepreneur, backed by an exceptional management team,” de Botton said. “We are proud to continue to support this company on its remarkable journey of growth and innovation. With exciting expansion plans on the horizon, we look forward to our ongoing partnership and the opportunities that lie ahead.”
Dragic said the refinancing deal was a testament to the company’s commitment to becoming a global leader in online gaming.
Original article: https://igamingbusiness.com/finance/superbet-blackstone-refinancing-deal/
