According to Bloomberg, Superbet CEO Johnny Hartnett said the Romanian betting and gaming company, which is funded by alternative investment firm Blackstone, has plans to expand across Europe and Canada in the near future. The news comes on the heels of Superbet’s announcement that its main business had doubled in size in the previous year. Superbet operates in ten European markets, producing €1 billion in revenue and more than €200 million in profit in 2021.
“We want a situation where, ultimately, the sun never sets on the Superbet empire,” Hartnett said in an interview from Bucharest. “Anywhere in the world where there’s a regulated gaming market, we want to be there.”
Following the €350 million acquisition of Napoleon Sports & Casino, Belgium’s third largest player, Superbet is now the country’s market leader. Blackstone bought an unnamed strategic minority investment for €175 million in 2019. Blackstone was founded in 2008 by Romanian entrepreneur Sasha Dragic, who is now the primary shareholder and executive chairman. In the interview, Hartnett noted that he does not expect Blackstone to provide additional funding, but that the firm may pursue an IPO in the future.
Following the listing of Poland’s STS Holding SA, which raised US$265 million in its December share offering and is currently trading 5% below its IPO price, such an offering would test the viability of yet another east European-based sports betting floatation.