Romania’s largest sports betting and online gambling operator Superbet has announced the agreement of a strategic partnership with private equity firm Blackstone. The US-based firm bought a minority stake for a €175 million cash infusion.
Other terms of the deal were not disclosed, but according to the company’s co-founder, Sacha Dragic 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. Currently, Superbet has a network of over 1,200 betting agencies in Romania with over 3,500 employees.
SuperBet launched a Romanian online betting site in 2016 and has since established land-based operations in Poland, although its Polish-licensed online presence has yet to launch. The group had a turnover of €180 million in 2018.
Blackstone is one of the world’s leading investment firms 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.
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.”Follow us on