Catena Media prepares for North Carolina online sports betting launch in 2024
Catena Media has advanced its preparations for the launch of online sports betting in North Carolina after the US state formally approved the start of regulated sports wagering next year.
North Carolina Governor Roy Cooper on Wednesday 14 June signed legislation directing the North Carolina Lottery Commission (NCLC) to issue as many as 12 interactive sports betting licenses to platform operators. He said regulated sports wagering would generate significant benefits for the state’s 10.7 million people by creating jobs and raising the state’s tax revenues “for generations to come”.
The new law allows online sports betting to begin as early as 8 January next year or as late as mid-June. The NCLC will determine the exact timing.
Catena Media is well positioned for the upcoming launch through its diverse portfolio of affiliate sites, including popular national brands such as Lineups and LegalSportsReport. The group has also engaged in media partnerships to fully capitalise on the sports betting opportunity in North Carolina, in line with Catena Media’s well-established launch model.
CEO Michael Daly said: “This positive news from North Carolina aligns with our strategic ambition to expand our North American presence. As the ninth most populous US state and the 28th to legalise online sports betting, North Carolina has the potential to become a significant market for us. The bill signed by Governor Cooper encourages innovation and ensures healthy competition for sportsbooks, which are positive factors for the market that Catena Media welcomes.”
He added that the North Carolina bill had the potential to serve as a role model for other states which are in the process of legalising online sports betting. “Ultimately, states that are better attuned to consumer needs and dedicate room for flexibility to sportsbook operators will have more success than those that don’t.”
Catena Media is a leading marketing affiliate for online sports betting and casino in North America, which accounts for around 80 percent of group revenue. The group currently operates in 26 US states and Canadian provinces.
Contact details for further information:
Investor Relations
Email: ir@catenamedia.com
Michael Daly, CEO
Email: michael.daly@catenamedia.com
The information was submitted for publication by the contact persons above on 19 June 2023 at 08:00 CEST.
About Catena Media
Catena Media is a global leader in generating high-value leads for operators of online casino and sports betting platforms. The group’s large portfolio of web-based affiliation brands guides users to customer websites and enriches the experience of players worldwide. Headquartered in Malta, the group employs over 350 people across the globe. The share (CTM) is listed on Nasdaq Stockholm Mid Cap. For further information see catenamedia.com.