- Catena Media has made its second purchase of a U.S. sports betting affiliated operation with the acquisition of Lineups.com.
- Lineups.com made $7.5 million in profits from sales in their last fiscal year.
- Catena Media wants to capitalize on the ever-growing popularity of the sports wagering business in the United States as more states regulate the pastime.
NEW YORK – Catena Media, a Malta-based internet company, has purchased Lineups.com for $39.6 million to expand their U.S. sports betting presence. The business made its acquisition announcement on Tuesday, stating its excitement for its newest venture via a public statement.
“The acquisition of Lineups.com strengthens Catena Media’s leading position in the growing US betting market with a complementary product that fits perfectly into our existing US portfolio,” said Michael Daly, CEO of Catena Media. “It gives us a second, even stronger, national sports betting affiliation site, alongside thelines.com. This will allow us to capture more market share across North America, as well as to take advantage of shared tools across multiple Catena Media sites. Sam Shefrin, the seller and founder of Lineups.com, will bring his industry and technology focus to the Catena Media team and will work with us for the near future as an exclusive consultant to the business.”
What’s Been Disclosed About The Deal
Lineups.com is an all-inclusive platform for player and game statistics and information for all major professional and fantasy sporting events nationwide. This includes offering betting advice, trends, and any other data pertaining to the market that could help sports bettors wagering on the matchups. Regulated sports betting has only helped to boost the traffic to the site as more and more states enter the sports gaming market.
Over the course of the last year, the website has posted $7.5 million in profits. Sales from the operation in 2021 have projected to be about 10% of the overall revenue Catena Media has collected. As more and more states regulate sports gaming, Lineups.com should see more activity, which will equal more sales and more profits for Catena Media.
Tuesday marked the first day that Catena took full ownership of Lineups.com. The price tag of $39.6 million will be paid in three increments. There will be a payment of $25 million upfront, then $9.6 million after one year from the purchase, and a final $5 million on the second-year anniversary.
There is also a clause in the contract that exists for the next three years for New York sports betting. Should New York expand their sports wagering market within that time, Catena Media will owe an additional $500,000 to Lineups.com to close out the payment plan from the acquisition.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.