The gaming behemoth Better Collective has procured a substantial portion of its rival, Catena Media, surpassing 5% proprietorship.
This action mirrors recent mergers within the sector, such as Allwyn’s procurement of Camelot following their intense competition for the United Kingdom’s fourth National Lottery permit.
While a complete amalgamation isn’t certain, Better Collective’s acquisition of Catena Media stock could signify the commencement of a protracted partnership. Both entities are iGaming titans, having obtained numerous associates and solidified their presence in the flourishing US digital market.
Catena Media, nonetheless, has encountered difficulties recently. They lately underwent a strategic evaluation, concluding with the divestiture of their prized possession, AskGamblers, to Gaming Innovation Group (GiG). Their share value, once soaring above 5 Swedish Krona, has tumbled to approximately 2.90 Swedish Krona.
Better Collective evidently perceived this as a chance to establish a presence within Catena Media. Given Catena Media’s market capitalization, this 5% stake constitutes a considerable investment of no less than $10 million, hinting at potentially larger actions to follow.
The branch office is pleased with the current state of affairs and opted not to elaborate. This follows closely on the heels of GiG’s completed purchase of AskGamblers, an action that has the entire sector speculating about the collaboration of these two affiliate marketing giants.
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