Catena brings Carnegie Investment Bank to help with business streamlining

Catena Media plc released a press statement in which the affiliate company said that it has hired the services of Carnegie Investment BankAB, which will be stepping in as a financial advisor. The company explains that Carnegie will assist with certain strategic overhauls of the company’s business, and the acquisition of certain outstanding assets.

Catena has made its intentions for the regulated US betting and gaming market known, and the company is keen to consolidate its footprint and top-to-bottom efforts on the North American market. This would require the potential sale of certain assets, with AskGamblers already sold to Gaming Innovation Group (GiG) for a sum total of €45m.

Catena undertook a review of its operations and immediate priorities in May 2022 and extended it in August 2022. Catena also confirmed later into the year on December 15, 2022, that third parties have reached out to enquire about specific additional assets.

Catena will refocus its efforts on its existing US-facing infrastructure, with a number of prominent assets, including NYSportsDay.com, PlayNY.com, GamingToday.com, Lineups, TheLInes.com, LegalSportsReport.com, and others.

Catena’s control of European assets remains strong, however, as there seem to have not been any "firm offers" to acquire the remaining assets of the company that are still operating in that geography. Part of this could be a strategic push toward the North American market as a whole.

AskGamblers is an outlier more or less, because of its international reach and flexibility. Meanwhile, Gambling.com Group managed to acquire the highly-coveted Casinos.com domain, which it praised, and said that the website would allow the group to spread its knowledge of the vertical.

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