Catena Media acquires online sports betting and casino affiliation assets from i15 Media

Image: Shutterstock

Global igaming lead generation company Catena Media plc has acquired online sports betting and casino affiliation assets from i15 Media LLC in a move, said the firm, that will strengthen its North American operations.

The assets comprise more than 100 websites and domains that focus on states starting their first full American football season such as, large upcoming states such as, and nationally ranking sites like and

The total purchase price is $45m, of which $12.5m will be paid with 2,207,357 new Catena Media shares.

CEO Michael Daly explained: “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. 

“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.”

He added: “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.”

The assets generated combined revenue of approximately USD 8 million in the 12 months to 31 July 2021. Sixty-seven percent of this figure arose in Q1 2021, coinciding with the peak of the North American sports season and the opening of the states of Michigan and Virginia.

The acquisition, said Catena, will have a direct positive effect on its EBITDA as of the consolidation date September 9, with expectations of an average EBITDA margin of at least 70% from the acquired assets.

Of the $45m purchase price, $12.5m is payable in cash on closing, and a further $20m in three instalments. These comprise $5m in cash or shares, as preferred by Catena Media, on December 15 2021; $5m in cash on June 1 2022; and $10m in cash on December 15 2022. 

The remaining $12.5m of the purchase price will be settled with 2,207,357 new Catena Media shares as soon as feasible after closing.

According to the firm, its North American business grew 121% in the first half of 2021 and accounted for 49% of total group revenue.