Blackstone Group Buys Stake in Romania’s Superbet Sportsbook
The Blackstone Group bought a minority stake in Superbet, Romania’s largest sports betting operator. The private equity firm paid €175 million for its stake in Superbet. Blackstone Group’s Tactical Opportunities division conducted the purchase on behalf of the parent company, which is the largest alternative investment firm in the world.
Superbet is the Romanian equivalent to Ladbrokes or William Hill. Established in 2008, Superbet now has over 1200 betting shops around the country. Superbet employs over 3500 staff members in its 1,200 betting shops, while generating €180 million a year in revenues as of 2018.
Superbet also owns its own regulated digital plaform in 2016, so it is both an online and offline sportsbook. The company also launched a Superbet mobile betting app in 2018.
Beyond Romania, Superbet operates in the United Kingdom, Malta, Austria, Croatia, Serbia, and Poland.
Sacha Dragic on Blackstone Investment
Sacha Dragic, Superbet’s CEO and co-founder, said Blackstone Group is a partner “capable of supporting Superbet Group to maintain its market leadership in Romania.” The CEO added that the Blackstone Group not only helps the company protect its market share, but also expand worldwide.
Dragic said Blackstone should help Superbet capitalize “on opportunities to expand business in both Central and Eastern Europe and globally.”
Cosmopolitan of Las Vergas
The investment is one of a growing pattern for Blackstone. The private equity firm owns stakes in a growing number of global gaming companies. Those investments range in a number of sectors of the gambling industry.
In 2014, Blackstone Group bought the Cosmopolitan of Las Vegas from Deutsche Bank for $1.73 billion. The Las Vegas Strip property was the first foray by Blackstone Group into casino ownership, but it only whetted the appetite for gaming revenues.
Blackstone Buys Murka
Last month, Blackstone Group purchased a stake in Murka, the Ukrainian social casino games designer. Social casino gaming remains one of the fastest growing sectors in the global gaming world.
Purchase of Cirsa
In 2018, the firm bought Spanish gambling group Cirsa for an undisclosed amount. Sources whispered that the purchase price for Cirsa was between €2 billion and €2.5 billion.
Reports surfaced recently that Blackstone Group might consider selling Cirsa. Analysts claim the Spanish powerhouse might sell for as much as $4 billion. Other reports suggested the Cosmopolitan might be up for sale, but Blackstone Group released a statement saying that was not the case.
About the Blackstone Group
In 1985, Peter G. Peterson and Stephen A. Schwarzman founded the Blackstone Group with a mere $400,000 in seed capital. The two founders planned a private equity business. Over the past 34 years, the business has been remarkably successful.
Over the years, Blackstone Group has invested in companies like Hilton Worldwide, AlliedBarton, Freescale Semiconductor, Biomet, Travelport, EQ Office, Merlin Entertainments Group, Performance Food Group, Republic Services, United Biscuits, and Vivint.