Catena Media Names Carnegie Investment Bank AB as Financial Advisor

The group that offers securities brokerage, investment banking, and private banking services will pay attention to all options regarding strategic transactions and public tender offers that the group has received. While Catena Media has not yet received a firm bid for its business or assets, the affiliate did agree to sell AskGamblers to the Gaming Innovation Group in exchange for €45 million ($48.3 million) in December 2022.

All Eyes on Strategic Transactions and Public Tender Offers

Discussing the sale, Catena Media’s chief executive officer referred to it as a “major step” part of their journey with a focus on “online sports betting and casino affiliation” in well-developed, popular markets in North and South America. He also added that GiG has the potential of nurturing and growing a solid environment for AskGamblers as well as the other brands included in the same deal. 

The decision was made at the end of the strategic review initiated in May 2022 during which Catena Media took the possibility of the sale under consideration. An extension of the same review was announced later on, in August, allowing the company to decide if it should divest its European betting and online gaming assets and instead focus on markets in North America. Catena announced that a quarter of all of its staff in Europe had been laid off as a result of the review.

Expansion in US Markets

As part of its expansion plans in the regulated gambling market in the US, Catena Media announced its plans to launch sports betting in Kansas in August. Speaking about the launch, Catena Media’s vice president for content in North America, Dustin Gouker, expressed their great expectations regarding the launch while speaking about the “strong portfolio of national and regional sites”. According to Gouker, this portfolio would put the company in a good position in the context of the anticipated customer acquisition period following the launch of the sports betting market.

The leading generator of high-value leads for online casino operators, as well as financial and sports betting platforms has a rich portfolio packed with affiliation brands. The portfolio is used to direct online users to the best custom websites while improving their gaming experiences. At the moment, Catena Media has its headquarters in Malta and it is run with a staff made of 450 people located in North America, Europe, Oceania, and Asia-Pacific.