Annual report pursuant to Section 13 and 15(d)

Document and Entity Information

v3.21.2
Document and Entity Information - USD ($)
12 Months Ended
Dec. 31, 2020
Jun. 21, 2021
Jun. 30, 2020
Entity Listings [Line Items]      
Entity Registrant Name Sports Entertainment Acquisition Corp.    
Entity Central Index Key 0001820852    
Current Fiscal Year End Date --12-31    
Document Type 10-K/A    
Amendment Flag true    
Amendment Description Sports Entertainment Acquisition Corp. (the “Company,” “we”, “our” or “us”) is filing this Annual Report on Form 10-K/A (Amendment No. 2), or this Amendment, to amend and restate certain items in its Annual Report for the fiscal year ended December 31, 2020 on Form 10-K originally filed with the Securities and Exchange Commission (the “SEC”) on March 30, 2021 and the first amendment thereto filed on Form 10-K/A, originally filed with the SEC on March 31, 2021 (together, the “Original Filing”) to restate our financial statements as of and for the period ended December 31, 2020 (the “Affected Period”) included in the Original Filing (the “Original Financial Statements”). The restatement primarily relates to consideration of the factors in determining whether to classify contracts that may be settled in an entity’s own stock as equity of the entity or as an asset or liability in accordance with Accounting Standards Codification (“ASC”) 815-40, Derivatives and Hedging—Contracts in Entity’s Own Equity. In the Original Financial Statements, the Company classified the public warrants and private placement warrants issued in connection with the Company’s initial public offering (the “Warrants”) as equity instruments. Upon further consideration of the rules and guidance, management of the Company concluded that the Warrants are precluded from equity classification. As a result, the Warrants should be recorded as liabilities on the balance sheet and measured at fair value at inception and on a recurring basis in accordance with ASC 820, Fair Value Measurement, with changes in fair value recognized in the statement of operations. As a result, on May 27, 2021, after consultation with WithumSmith+Brown, PC, the Company’s independent registered public accounting firm, the Company’s management concluded that the Original Financial Statements should no longer be relied upon and are to be restated in order to correct the classification error.    
Document Period End Date Dec. 31, 2020    
Document Fiscal Year Focus 2020    
Document Fiscal Period Focus FY    
Entity Address, State or Province FL    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status No    
Entity Interactive Data Current No    
Entity Filer Category Non-accelerated Filer    
Entity Small Business true    
Entity Emerging Growth Company true    
Entity Ex Transition Period false    
Entity Shell Company true    
ICFR Auditor Attestation Flag false    
Entity Public Float     $ 0
Class A Common Stock [Member]      
Entity Listings [Line Items]      
Entity Common Stock, Shares Outstanding   45,000,000  
Class B Common Stock [Member]      
Entity Listings [Line Items]      
Entity Common Stock, Shares Outstanding   11,250,000