MGM - SPAC watch: Super Group attracts attention as potentially next big thing in U.S. sports betting

Benchmark starts off coverage on Sports Entertainment Acquisition Corp. (NYSE:SEAH) with a Buy rating ahead of the company's SPAC deal with Super Group. Analyst Mike Hickey writes that he believes the global online gaming market should continue to experience growth and thinks Super Group's highly profitable online gaming platform and modest approach to building share in new markets will give it an advantage. The combined company will be called Super Group and trade under the symbol SGHC when the SPAC deal closes. South Africa-based Super Group operates in the sports betting industry through Betway and is active in the online casino business through the Spin brand. Betway has marketing partnerships with 10 U.S. sports franchises, including the Los Angeles Kings, New York Islanders and Philadelphia Flyers, and the NBA’s Chicago Bulls, Cleveland Cavaliers, Golden State Warriors, Los Angeles Clippers, Minnesota Timberwolves and Philadelphia 76ers. Super Group competes with Fanduel (OTCPK:PDYPY),

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SPAC watch: Super Group attracts attention as potentially next big thing in U.S. sports betting