Catena Media plans expansion into North Carolina
The Tar Heel State will issue up to 12 interactive sports betting licenses in its 2024 launch.
North Carolina is preparing to launch online sports betting in 2024 and Catena Media is planning to launch with it. The affiliate’s brands include Lineups and other media partnerships related to sports betting.
Sports betting is able to go live any time from January 8 to mid-June in the Tar Heel State. The North Carolina Lottery Commission (NCLC) will be in charge of setting a launch date.
The NCLC will also have the ability to issue up to 12 interactive sports betting licenses to interested operators and sports wagering platforms. Governor Roy Cooper claims that a regulated market in his state will not only raise tax revenues, but also create jobs.
Catena Media is currently live in 26 US states and Canadian provinces. Its online sports betting and casino divisions account for around 80% of group revenue.
Catena Media 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 legalize 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.”
Daly spoke to the GI Huddle in a recent interview about Catena Media’s strategies for future M&A opportunities, a potential US listing and the sale of AskGamblers.
Daly also commented with high hopes for North Carolina and the terms of its new bill potentially acting as a role model for other states yet to legalize sports betting.
He said, “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.”
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