Oddschecker confirmed as buyer of SuperScommesse from Catena Media
UK affiliate emerges as one of two originally unnamed firms that snapped up Catena Media’s Italian assets
Oddschecker has disclosed it has purchased SuperScommesse from Catena Media as part of the affiliate’s European asset divestment.
Yesterday, 21 November, Catena Media announced it had sold its Italy-facing online sports betting and casino assets to two unnamed buyers.
The total value of those deals amounted to €19.8m (£17.2m), with the aggregate purchase prices to be paid in three tranches.
It has since been confirmed that Oddschecker moved to snap up SuperScommesse, although the financial details regarding the value of the brand have not been disclosed.
The first payment towards the sale of the total assets was €12.8m in October and November with a further €3.5m to be paid in Q4 2023. The final €3.5m will be paid by Q2 2025.
Catena Media said the proceedings from the sales will be used to repay debt, allowing the affiliate to reduce its leverage ratio.
Catena Media purchased SuperScommesse parent company ASAP ITALIA in an undisclosed deal in June 2018.
Stuart Simms, Oddschecker CEO, said the acquisition would tap into the growing shift to online gambling in Italy.
Simms said: “As the growth of sports betting in this sports-mad market continues apace, we wanted to double down on our presence in this key territory. 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,” he added.