Superbet, the largest omni-channel sports betting and gaming operator in Romania, and Blackstone 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.
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. 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.
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.”
Stifel advised on the overall transaction. Herzog, Fox & Neeman acted as legal adviser to Superbet, Jones Day acted as legal adviser to Blackstone, while UBS Investment Bank provided financial advice to Blackstone.