Gzira-headquartered Catena Media has acquired US-based i15 Media’s online sports betting and casino assets in a bid to accelerates its North American business, Casino Beats reported.
The assets involved are made up of more than 100 websites and domains.
“The addition of i15 Media’s online sports betting and casino assets to our North American portfolio will accelerate our already rapidly expanding business there,” Catena Media CEO Michael Daly said.
“In addition to i15’s strong national and state brands generating revenues in current markets, the additional coverage for upcoming states will further cement Catena Media’s leadership position in the United States,” Mr Daly continued.
The aforementioned assets were purchased at the price of $45 million.
This is being split into $12.5 million payable in cash on closing and $20 million in three instalments - $5 million on 15th December 2021, $5 million on 1st June 2022, and $10 million on 15th December 2022.
The remaining balance will be settled with new Catena Media shares.
“I am also excited that i15 Media’s Founder and Owner will join us as a consultant for the next few years. He will provide valuable support for our internal team as we pursue our roadmap,” Mr Daly concluded.
Featured Image:
Michael Daly / LinkedIn
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