Online sports betting and gaming company Super Group has agreed to go public via a merger with Sports Entertainment Acquisition (NYSE: SEAH), a special purpose acquisition company, or SPAC. Despite the Securities & Exchange Commission sending a shockwave through the SPAC market over accounting issues earlier this month -- which may have contributed to there being no SPAC IPOs last week and only a handful of deals -- Sports Entertainment and Super Group are starting this week off with a merger announcement. Image source: Getty Images. Super Group owns the online sports betting brand Betway and the online casino Spin. It's also in the process of acquiring Digital Gaming, which would give it an immediate presence in 10 states. Digital Gaming is the force behind MGM Resorts' BetMGM mobile sports betting and casino games app that has helped it become the fastest growing sportsbook in the country. MGM says BetMGM will eventually become the second largest sportsbook. Flutter Entertainment's FanDuel is currently the top sportsbook; DraftKings is second. Super Group is reported to hold licenses in 23 countries across Europe, the Americas, and Africa and generated over $42 billion in wagers in the past year from its 2.5 million monthly unique active customers. The sports betting and gaming operation will be debt-free once the merger is completed and it will have $200 million in cash. Some two dozen states have legalized sports betting and it is expected a dozen more may do so this year. DraftKings went public last year via a merger with a SPAC; Golden Nugget Online Gaming did so at the end of 2020. 10 stocks we like better than Sports Entertainment Acquisition Corp.When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now… and Sports Entertainment Acquisition Corp. wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of February 24, 2021 Rich Duprey has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Flutter Entertainment and Flutter Entertainment PLC. The Motley Fool has a disclosure policy.Source