Catena Considers Prospective Divestments to Maintain US Market Drive

Catena Considers Prospective Divestments to Maintain US Market Drive

Catena Media has indicated that a prospective sale of European assets, such as AskGamblers, might be executed to acquire capital for M&A activity in burgeoning North and Latin America online casino and sports betting markets.

Our Recommended US Sports Betting Site in 2021

Our Rating

  • Score a $250 Welcome Sports Bonus
  • The Best Lines, Props And Live Betting
  • Accepts Wide Range Of Payment Methods Including Bitcoin
  • Bet On Traditional Sports + Politics, Esports & Virtual Sports
bovada

Catena Media

Regulatory conditions have not and will not significantly improve

Following the declaration of a strategy review to strengthen its grip on non-North American activities, the statements were made during an earnings call for the first half of the year, during which the aforementioned area compensated for European issues.

As Michael Daly, the chief executive officer of Catena, said, “regulatory circumstances in Germany and the Netherlands have not and will not improve at a rapid rate,” a regulatory position in limbo in the rising inflation and fuel pressures might bring about a fundamental shift. In an effort to evaluate the optimal view during a moment of economic uncertainty, this approach aims to generate at least $5 million every year by the fourth quarter.

Catana’s Gaming Portfolio in North America Have Changed

Despite “advancing” in the Americas, Catena’s Q2 revenue decreased by five percent due to a less busy athletic calendar and “typical sluggish casino seasons.” 

Peter Messner, Catena Media’s chief financial officer, said, “Casino has historically been the largest sector of their portfolio, but when new states in North America debut, like as New York and Louisiana did in the first quarter, this may momentarily change. 

Ontario likewise had revenue difficulties relative to earlier projections, while Japan was seen as “another unpleasant surprise.” Catena remarked that macroeconomic circumstances had “begun to manifest themselves in Europe in particular” as a second unanticipated event that occurred during the era.

Post-quarter, the North American market has had a 33% gain through July, despite a sluggish athletic calendar, which has helped propel the company ahead by 10%, excluding the “still stagnant” German market. 

With year-over-year comparisons being “encouraging,” Daly cited Kansas, which will launch sports betting next month, Ohio, Maryland, Massachusetts, and a developing Ontario as reasons for confidence through the second half of 2018 and beyond 2023. 

However, Kansas is going considerably faster than other states on the route to regulation, so Daly concluded: This is what makes North America so exciting: the distinct state-by-state dynamics. This also makes forecasting so tough.

Our Recommended US Sports Betting Site in 2021

Our Rating

  • Score a $250 Welcome Sports Bonus
  • The Best Lines, Props And Live Betting
  • Accepts Wide Range Of Payment Methods Including Bitcoin
  • Bet On Traditional Sports + Politics, Esports & Virtual Sports
bovada
Avatar

About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.