Betting media group Catena Media has announced that they've purchased online horseracing site GG.co.uk and will be entering the market as a result.
The purchase agreement will see Catena paying £2 million in cash upfront and will be the first horse-racing property for the company. Currently GG provides about £150,000 per quarter in terms of sales, and comes shortly after the site struck a partnership with Gaming Innovation Group.
Commenting on the deal Catena CEO Henrik Persson Ekdahl said, "Catena Media has a strong strategy for growth and an outspoken ambition to break into new online services.
"It is our firm belief that this small yet strategic and very well-known site enjoys vast opportunities for growth.
"Catena Media will be the partner that delivers on these opportunities."