Catena Media Reveals Tap Issue Plan to Fund iGaming Affiliate Acquisitions

Malta-headquartered performance marketing company Catena Media announced today that it has been considering the release of a €50-million-worth tap issue to finance future acquisition deals in the iGaming affiliate space.

CEO Robert Andersson revealed that Catena Media is considering several potential new acquisitions that would give more strength to their existing portfolio. The executive further clarified that a tap issue would help them a lot in financing future transactions.

Based in Malta and originating from the Nordics, Catena Media has become among the consolidation trendsetters in the iGaming affiliate space. The company has acquired multiple smaller and larger affiliate websites and affiliate networks over the past several years, focusing to a great extent but not exclusively on the Nordic online gambling markets.

Catena Media made big headlines last spring when it acquired iGaming affiliate portal AskGamblers. The Serbian affiliate joined the lead generation company after the latter paid €15 million to close the deal. The transaction became one of the largest to have ever taken place within the field and the epitome of the growing merger and acquisition activity in the iGaming affiliate space.

Finding the right and most obvious reason for the online gambling affiliate consolidation wave would be a difficult task. However, it can be said that this particular iGaming sector is heavily dependent on similar factors as the larger providers and operators segments. Competition, regulations-related challenges, and expansion drives are all contributing to the M&A trend.

And it will be particularly interesting to see for how long the trend will exist and how the iGaming affiliate industry will be reshaped as a result from it. One possible outcome is that there will be several big, very big, players that will dominate the field and smaller affiliates that will either join forces with one another to survive competition from the big fish, or will look to attract the attention of the big fish.

Companies with both B2B and B2C operations buying affiliate websites may turn into another important trend within the consolidation trend. Such companies usually act as marketers, operators, and sometimes providers. Purchasing affiliates, they can thus use them to refer traffic to their online gaming operations.

Oslo-listed iGaming company Gaming Innovation Group (GIG) is a good example of the above-described practice. Similarly to Catena Media, it has indulged in a shopping spree for affiliate websites for some time now. However, unlike Catena Media, GIG operates several online casino brands, which are available in multiple markets and jurisdictions and will certainly make good use of additional traffic from affiliates owned by their parent company.

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