Blackstone invests €175 million in Romania's Superbet

The Blackstone Group, one of the world’s highest profile private equity firms, is sinking €175 million ($196.6 million USD) into Superbet, the Romanian operator that’s seen its share of profits and expansions lately. It’s a deal that reflects both the Blackstone Group’s increasing interest in gambling operators, as well as Superbet’s phenomenal success in Eastern European gambling markets.
Under the terms of the deal, which were detailed in a press release on Blackstone’s website, Blackstone is purchasing a strategic minority investment in Superbet. That investment will be used to fund expansions into other European markets. And if Superbet’s track record is any indication, that should be a pretty safe investment.
Superbet started out as an operator in the Romanian market and has become the dominant brand in that country. Currently, Superbet operates more than 1,200 retail betting shops, as well as online sportsbooks and casinos in Romania and Poland.
Sacha Dragic, founder and Group CEO of Superbet trumpeted the Blackstone deal saying, “We look forward to our strategic partnership with the Blackstone team. Blackstone’s equity investment and extensive experience will help us maintain and grow our market-leading position in Romania and pursue expansion opportunities in Central Eastern Europe and globally.”
Blackstone’s Senior Managing Director chimed in stating, “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.”
Blackstone has expressed increasing interest in the gambling industry recently. In 2014, they purchased the then-struggling Cosmopolitan Hotel in Las Vegas and recently began looking to sell the now-profitable property.