Superbet receives £150m investment from private equity firm Blackstone
Romanian operator targets increased market share and expansion in Eastern Europe
Romania’s largest sports betting and online gambling operator Superbet has announced the agreement of a strategic partnership with private equity firm Blackstone.
The partnership comprises a €175m (£150m) strategic minority equity investment by funds managed or advised by Blackstone’s Tactical Opportunities business. Other terms of the deal were not disclosed.
Andrea Valeri, senior managing director of Blackstone, welcomed the partnership, highlighting Superbet’s launch of an app and proprietary sports betting and online gambling platform as being “very exciting” for the long-term future of the operator.
“We look forward to supporting Superbet’s impressive growth trajectory, through international expansion and continued investment in technology,” Valeri added.
Blackstone’s Tactical Opportunities business is an investment platform which aims to capitalise on global investment opportunities that “are time-sensitive, complex, or in dislocated markets where we believe risk is fundamentally mispriced”.
Sacha Dragic, founder and group CEO of Superbet, said the Blackstone investment will enable the company to grow its position in Romania and “pursue expansion opportunities in Central Eastern Europe and globally”.
In addition to the investment, Superbet has announced the appointment of former NeoGames CEO Ilan Rosen as its new group CFO and Dragos Dinu as its new group COO. Rosen spent nine years with NeoGames, first as CFO and head of corporate affairs between 2009 and December 2012, before becoming NeoGames CEO in January 2013.
Dinu most recently served as CEO of Tiriac Holdings, a multi-industry group operating in Romania and has previously been chair of the board of directors at Romanian pharmaceutical company A & D Pharma.