Catena Media announced that it had sold its Italian operations, including SuperScommesse, for a combined €19.8m ($21.5m/£17.2m) on Tuesday. In announcing the sale, Catena said its Italian operation generated revenue of €7.8m and EBITDA of €3.4m in the 12 months to September 2023.
Now Oddschecker has given further details of its future plans in Italy for the SuperScommesse brand. However, it did not confirm how much it paid for the business.
Oddschecker said the acquisition will help to consolidate its position as Italy’s leading sports betting advertising company. SuperScommesse will add to existing media partnerships with Gazzetta and DAZN, which leverage tens of millions of unique users.
“SuperScommesse furnishes OGM with deep local expertise, featuring a team that has proven itself adept at driving sustained growth in the market, allied to a recognisable and trusted local-language brand,” Oddschecker said in a statement.
“In addition, its tech stack and tools will deliver network efficiencies to the acquiring group’s brands in other markets, while OGM’s own technology will improve SuperScommesse’s services and fan engagement across a loyal customer base.”
How SuperScommesse will boost Oddschecker’s new Confido Network
Bruin Capital-owned Oddschecker said the acquisition will further bolster its newly created Confido Network affiliate partnership. Announced earlier this month, this network covers deals from more than 200 global operators.
Stuart Simms, CEO of Oddschecker Media Group, said: “As the growth of betting in this sports-mad market continues apace, we wanted to double down. We see SuperScommesse as the ideal strategic complement to our strong Italian footprint.
“We’re looking forward to servicing its customer base with an enhanced product that combines the Oddschecker DNA with its well-regarded brand name and local expertise in a market that still has huge growth potential as it builds out an online, cashless identity.
“This digital tide is only rolling one way, so the synergies are as obvious as they are natural: the Italian market allows for odds comparison as a consumer service and we remain the pre-eminent odds comparison provider.”
Why Catena sold SuperScommesse
Catena Media agreed the deals with Oddschecker and another unnamed buyer for a total of €19.8m. It said one of the transactions had completed and the other will do so before the end of 2023.
Catena Media said the deals mark its exit from Italy and complete the strategic review initiated in May 2022. Catena has sold €76.0m of assets since then, including the €45.0m divestment of AskGamblers to GiG in December 2022.
The review has sought to streamline the business and increase the operational focus on stable markets, primarily in the Americas. Catena said sale proceeds will primarily be used to repay debt, thereby reducing its leverage ratio.
Original article: https://igamingbusiness.com/strategy/ma/oddschecker-confirmed-as-new-owner-of-italian-affiliate-leader-superscommesse/
