Digital sports and iGaming media juggernaut, OneTwenty, has made headlines with its recent acquisition ofv sports publishing assets from Catena Media plc. This purchase, valued at 6.0 million euros, cements OneTwenty’s intent to bolster its presence in both the UK and Australian arenas.
Over the past year, the acquired business units have shown promising financial vigor, amassing 4.5 million euros in revenues. With a recently secured debt of nearly 11 million euros from Thin Cats, OneTwenty anticipates a surge in its 2024 EBITDA projections, forecasting it to reach 6.0 EUR.
Chris Russell, the group’s CEO, expressed enthusiasm regarding the acquisition, emphasizing the company’s goal of crafting an unparalleled digital publishing domain where sports, media, and betting intersect.
He remarked, “We are reshaping our portfolio to focus on engaging fan experiences that allow us to build ecosystems for our loyal user base to enjoy. The portfolio builds on our horse racing and football audiences particularly and allows us to serve increasing demand from our sports-betting partners.“
Acknowledging Team Efforts
Eoin O Keeffe, Group Operations Director, took a moment to acknowledge the relentless dedication of their M&A team. Special mentions were made of team members Charlene Walsh, Jack Lodge, Jakub Pieczonka, and Ray Kirwan for their exceptional contribution to finalizing this acquisition.
Furthermore, O Keeffe expressed optimism about the talents of the Catena Media’s UK and Australian business team, stating, “The team at Catena Media’s UK and Australian business is fantastic and we are excited to have them join our family. This gives us great confidence that we can grow this business together, leveraging the assets in both existing and new markets.“
Implications for the iGaming Industry
- Redefining Digital Landscape: With OneTwenty’s acquisition, the iGaming industry might see a new trend in how iGaming and media converge, offering fans enriched digital experiences.
- Global Expansion: By absorbing assets from a global brand like Catena Media, OneTwenty’s move signals the potential for more cross-regional expansions within the iGaming sector.
- Collaborative Synergy: Integrating teams and assets could lead to innovative offerings, further enhancing the value for both businesses and end-users in the sports betting landscape.