Sports betting media group Better Collective has announced a new investment, confirming that it has acquired a 5% stake in leading competitor Catena Media Plc.
The news comes just days after the Gaming Innovation Group (GiG) agreed initial terms in December and completed its €45 million acquisition of AskGamblers.com Catena.
Catena is refocusing their work on the North American region, where their Q4 revenue grew by 31% to €21.5m (Q4 2021: €16.4m).
The company continues to scale down its operations and told investors in January this year that 2022 profits will be lower due to a write-down of European media assets.
In North America, the company operates affiliate websites LegalSportsReport.com, TheLines.com, Lineups.com, GamingToday.com, PlayNY.com and NYSportsDay.com.
Since the repeal of the federal PASPA in 2018, Better Collective and Catena have become fierce competitors in the US market, with both companies aiming to become the number one affiliate publishing chain in the market.
Both companies have adopted an aggressive M&A strategy and expanded their portfolios in the US, resulting in Better Collective managing the assets of Action Network, VegasInsider.com and RotoGrinders.com.
The Better Collective also has a network of brands including Bettingexpert.com, Irishracing.com, Danish media site SpilXperten, Swedish tipster service Speltips.se, German Wettbasis, Greek Batarades and PariuriX in Romania.
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