Blackstone buys minority stake in biggest Romanian betting company for EUR 175 mln
U.S. investment company Blackstone, one of the world’s biggest asset managers, bought a minority stake in Superbet, the biggest sports betting company in Romania, in exchange for a EUR 175 million cash infusion. The money came from…
Romania Insider · Journalist
· Updated · 1 min read
U.S. investment company Blackstone, one of the world’s biggest asset managers, bought a minority stake in Superbet, the biggest sports betting company in Romania, in exchange for a EUR 175 million cash infusion. The money came from Blackstone Tactical Opportunities.
Superbet will use the money to consolidate its leadership position on the local market and expand its business to Central and Eastern Europe and globally, according to the company’s co-founder Sacha Dragic.
The consultant for the whole deal was Stifel. Blackstone worked with Jones Day law firm and UBS Investment Bank while Superbet was legally advised by Herzog, Fox & Neeman.
Superbet was founded in 2008 and has developed a network of over 1,200 betting agencies in Romania, with over 3,500 employees. The company launched a digital platform in 2016 and a mobile app in 2018. It currently has direct operations in Poland and offices in Austria, Serbia, Croatia, Malta and UK. The group had a turnover of EUR 180 million in 2018.
(Photo source: Pixabay.com)
