Consolidation in the Online Gaming Industry: Better Collective Acquires Stake in Catena Media
The internet gaming sphere appears to be contracting. Better Collective, a prominent industry contender, has secured a substantial portion of its rival, Catena Media. This action follows closely on the heels of a comparable upheaval in which Allwyn absorbed Camelot following an intense struggle for the United Kingdom’s National Lottery permit.
Although it’s premature to determine if this will culminate in a complete amalgamation like the Allwyn/Camelot transaction, it suggests a possible transformation of the sector. Both Better Collective and Catena Media have gained recognition by procuring numerous smaller entities and establishing a robust foothold in the flourishing US digital gaming market.
Nevertheless, Catena Media has encountered recent difficulties. Their latest strategic evaluation resulted in the divestiture of their prized possession, AskGamblers, to Gaming Innovation Group. Their share value has also suffered, declining significantly from its peak last year.
Better Collective evidently perceives this as a chance to act. Their acquisition of over 5% of Catena Media, a stake valued at a minimum of $10 million, speaks volumes about their objectives. Observing the unfolding of this situation in the ensuing months will be intriguing.
The business under discussion is pleased with its current trajectory and opted not to elaborate further. This follows closely on the heels of GiG sending ripples through the affiliate community by purchasing AskGamblers – leaving many speculating about the future now that these former competitors have joined forces.
