The Blackstone Group’s European gambling investment spree has continued with the purchase of a minority stake in Romania’s largest sports betting operator – Superbet, local news outlets report
It is understood that the major US private equity firm has paid €175 million for a minority stake in Superbet. Blackstone Tactical Opportunities conducted the transaction on behalf of its parent company.
Superbet was established in 2008. Over the years, it has become Romania’s largest sports gambling operator with 1,200 betting shops around the country and more than 3,500 employees. The company recorded betting turnover of €180 million last year.
Aside from its retail network, Superbet also operates its own digital platform, which it launched in 2016, and a mobile betting app, which the operator debuted in 2018. In addition to its domestic market, Superbet also provides its services in Poland and runs offices in Austria, Malta, Croatia, Serbia, and the UK.
Commenting on Blackstone’s interest in Superbet, the operator’s co-founder and CEO, Sacha Dragic, said that the private equity investment firm is a partner “capable of supporting Superbet Group to maintain its market leadership in Romania”, increase its market share in its domestic market, and be able to capitalize “on opportunities to expand business in both Central and Eastern Europe and globally.”
Blackstone’s Growing Gambling Investment Interest
Over the past several years, The Blackstone Group has kept showing massive interest in the global gambling industry and has invested in companies representing different sectors of that industry. News about the firm buying a minority stake in Romania’s largest sports betting operator arrived shortly after it emerged that Blackstone has acquired Ukrainian social casino games developer Murka in a bid to venture into the exploding social casino market.
Last year, the private equity firm purchased Spanish gambling powerhouse Cirsa. The purchase price was not disclosed, but according to sources, Blackstone paid between €2 billion and €2.5 billion for the casino and betting group.
Most prominently, the private equity giant became the owner of The Cosmopolitan of Las Vegas back in 2014. It snatched the luxury Strip resort from its former owner, Deutsche Bank, for $1.73 billion.
Reports surfaced last month that Blackstone was seeking buyers for Cosmo. It is believed that the firm could trouser up to $4 billion for the glitzy property. It emerged late last year that Florida-based gaming and hospitality company had entered due diligence to buy The Cosmopolitan, but Blackstone denied those reports in an emailed statement to Casino News Daily, and said that the hotel and casino resort was not up for sale at the time.
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