Superbet has secured a €1.3 billion ($1.34 billion) refinancing deal with Blackstone with support from HPS Investment Partners, bolstering its financial position for global expansion
Superbet, the Romanian group that wants to “bring exciting, technology-powered entertainment in Sports & Gaming to millions of customers around the world,” has completed a €1.3 billion ($1.34 billion) refinancing agreement with Blackstone.
The agreement, which was also backed by funds managed by HPS Investment Partners, was officially announced on February 7.
On Track with Expansion Plans
Superbet is looking to use the new capital infusion to strengthen its foothold worldwide and sustain its growth.
The operator further emphasized its unaltered commitment to grow in Brazil while exploring mergers and acquisitions and investing in state-of-the-art technology to continuously enhance its offerings.
Blackstone has played a pivotal role in Superbet’s growth journey, initially investing €175 million ($180.5 million) in 2019 as a strategic minority shareholder.
Since then, Superbet has significantly strengthened its presence in 12 markets. It leads the Romanian market, holds a strong position in Poland, and has also expanded into Belgium through the 2021 acquisition of Napoleon Sports & Casino.
Additionally, the company operates in Croatia, where it has established a significant tech hub and maintains a product innovation center in Spain.
Superbet also secured a foothold in Brazil, becoming one of the first operators licensed under the country’s regulated market, which has dealt with a number of now fixed operator certification delays.
In July 2023, the group announced its plans to enter the insurance and brokerage market after securing the necessary licenses from the Financial Supervision Authority in Romania.
Refinancing Comes Amid Group Founder Reclaims Leadership Position
The latest refinancing comes as Superbet’s founder, Sacha Dragic, reclaims a more hands-on leadership role.
In 2019, Dragic stepped back from day-to-day operations, handing the reins over to Johnny Hartnett, Paddy Power Betfairs’s ex-executive.
However, Dragic came back as co-chief executive officer last year in an attempt to steer the company toward more strategic growth.
Commenting on the refinancing deal, Dragic called it a “testament” to their “commitment to becoming global leaders” in the industry.
The co-CEO further spoke about their “unique business model” that “seamlessly integrates strategic investments in cutting-edge technology with a diversified product portfolio,” closely following modern-day consumer trends.
Superbet received advisory support from Morgan Stanley and Stifel during the refinancing negotiations.
Herzog Fox & Neeman, Sidley Austin, and Loyens & Loeff Luxembourg handled the legal aspects of the transaction.
On Blackstone’s side, Citi acted as the financial adviser, while Simpson, Thache, & Bartlett provided legal counsel.
Similarly, Blackstone Tactical Opportunities’ senior managing director, Raphael de Botton, further echoed the optimism, calling Dragic “a visionary founder and entrepreneur, backed by an exceptional management team.”
De Botton also took the opportunity to say they were looking forward to their “ongoing partnership” while anticipating future opportunities.
Recently, Superbet became the official betting site for Rio Carnival 2025, supporting the parades and the Allegria and Rio Carnaval boxes together with the Independent League of Samba Schools of Rio de Janeiro. The event will be held between February 28 and March 8.
