Global buyout major Blackstone has made a €175m minority investment in Romanian sports betting and gaming business Superbet through its Tactical Opportunities business.
The firm’s Tac Opps fund targest deals Blackstone believes are time-sensitive, complex or in dislocated markets where it believes risk is fundamentally mispriced.
Superbet was founded in 2008 by CEO Sacha Dragic, and now has a retail network spanning more than 1,200 shops in Romania and Poland.
It offers customers pre-match and live sports betting, slots, virtual betting and lottery gaming.
Andrea Valeri, senior managing director at 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.”
Copyright © 2019 AltAssets