Catena Media Acquires ASAP ITALIA to Dominate the Italian Online Gaming Market

A prominent Swedish firm, Catena Media, recognized for linking businesses with prospective clients, has broadened its presence into the Italian market. They’ve accomplished this by purchasing ASAP ITALIA, an organization specializing in the nation’s flourishing online gaming and wagering sectors.

This is a significant development as ASAP ITALIA is a dominant entity in Italy, signifying that Catena Media immediately transforms into a leading power within this domain. To illustrate the scale, ASAP ITALIA is projected to produce approximately $3.5 million monthly.

The Chief Executive Officer of Catena Media, Per Hellberg, stressed that this acquisition is a calculated maneuver to control the Italian market for internet-based sports wagering. He pointed out that Italy was among the initial European nations to regulate online gaming, suggesting a mature and steady market.

The acquisition set Catena Media back $18.6 million, disbursed in two parts. The initial sum of $14.5 million was paid upfront in cash, with the outstanding $3.5 million to be settled over the subsequent year.

Intriguingly, there’s a supplementary incentive for ASAP ITALIA. Should they exhibit strong performance in the coming year and elevate their revenue by around 50%, they’ll receive an additional $7 million. A portion of this bonus, up to half, can even be granted in Catena Media shares, further integrating them into the company structure.

This acquisition represents the most recent in a series of strategic procurements by Catena Media. In 2018 alone, they’ve ventured into numerous new markets, encompassing the realm of currency exchange, US affiliate marketing, UK horse racing, and French sports betting. They are evidently on a trajectory to establish themselves as a global leader in connecting businesses with potential customers.

A possible obstacle for Catena Media emerges with their purchase of ASAP ITALIA, given that the clientele functions nearly entirely within the regulated Italian sector. This holds weight because Italy’s current administration, headed by Deputy Prime Minister Luigi Di Maio, has committed to enacting a total prohibition on gaming promotions and endorsements.

Even with this difficulty, Catena Media expects to incorporate ASAP ITALIA’s holdings into the company by July 2018.