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Is consolidation happening in the US regulated sports betting affiliate space?
Better Collective has announced to Catena Media that it has acquired a position of >5% in the company and says it is satisifed with the position and "will not comment further on the matter".
Better Collective and Catena Media currently comprise the "Big Three" in mega affiliate firms making up the US regulated space. The other is the Gambling.com Group.
The news broke after market closure on the NASDAQ Stockholm stock exchange, on which both Better Collective and Catena Media are listed.
This news comes after it was announced that Catena appointed Carnegie Investment Bank AB as a financial advisor earlier this month. Catena made waves in recent months with the purchase of AskGamblers.com.
Carnegie will participate in talks with third parties that have shown interest in acquiring certain assets from Catena.
Minnesota Sports Betting Bill Introduced
Minnesota remains among the only states in the region without legalized sports betting. Much of what exists in the surrounding states is in-person retail only (i.e. Wisconsin, South Dakota) though Iowa was among the first to legalized retail and mobile statewide.
Minnesota State Senator Jeremy Miller (R-Winona) is expected to introduce a new bill that would allow the state's 11 tribes to offer the activity at their casinos with the option for these tribes to operate mobile betting. Each tribe would have the option to receive one (1) primary mobile license to conduct mobile sports betting. It's not entirely clear if the mobile offering would encompass the enitre state or only the tribal lands (i.e. Wisconsin).
“It’s time to authorize sports betting in Minnesota,” Miller said. “As other states move to authorize sports betting, Minnesota is falling behind. We are the only state in the region where it remains fully illegal to bet on sports. The Minnesota Sports Betting Act is a fair and responsible proposal to authorize sports betting here in Minnesota. This proposal is good for the tribes, it’s good for the horse racing tracks, it’s good for the professional sports teams, and most importantly, it’s good for the folks who would like to bet on sports here in Minnesota. This is long overdue and it’s time to get it done!”
- Gilbert Horowitz, Gambling911.com
