Affiliate Firm Catena Continues to Surge in U.S Sports Betting Market 

Affiliate Firm Catena Continues to Surge in U.S Sports Betting Market 

Catena Media

The results of the fourth quarter and the whole year helped sports betting-focused firm Catena Media do very well in its local North American market, particularly in several key states in the US.

The business, which holds a dominant position in the affiliate iGaming and sports betting markets, presented a comprehensive analysis of its financial performance for both the fourth quarter and the whole fiscal year 2022. 

One of the best things about the year, according to the company, was that sales went up by 31% in the last three months. This rise was caused by the fact that the state of Maryland started letting people bet on sports online. In November 2022, Catena started offering its services in the state as part of an online sports betting operation.

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The company has also finished selling its AskGamblers website to Gaming Innovation Group for about $48 million (€45 million). Catena has said that 90 percent of the company’s income now comes from regulated markets. This shows that the company is committed to compliance over the long term and is determined to end its exposure to markets that are not regulated.

In the update, Catena’s upcoming launches in New York and Louisiana in 2022 and an early launch in Ohio in 2023 were talked about.

These launches will give Catena a strong overall foothold in the market. When the figures for the period between October and December 2022 are examined more closely, it can be seen that the company reported sales of €27.4 million ($29.20 million), an increase of 15%. The revenue generated in North America alone reached €21.5 million ($22.90 million), accounting for 78% of the total income generated and representing an increase of 31%.

The number of new depositing customers reached 84,651, an increase of 1%. According to the press statement issued by the company, the cash on hand and other liquid assets totaled €24.6 million ($26.2 million) as of the 31st of December, 2022.

Catena also gave a very detailed breakdown of its financial performance from January to December 2022.The company said that its income from continuing operations went up by 7% to €110 million ($117 million). The company said that the number of new depositing customers reached 354,050, which is a 2% increase from the previous year.

Ohio Presence Allows Catena to Post Strongest-Ever First Launch 

Catena was also able to buy back 1,973,000 of its ordinary shares. This cost the company a total of €8.6 million. The company also reported on a number of the occurrences that took place following the fourth quarter and the outcomes for the entire year. Catena has chosen Carnegie Investment Bank to serve as its financial advisor in order to aid it with the strategic review it is doing.

Also, during the month of January, Catena repurchased 409,193 of its ordinary shares, and during the month of February, it canceled 4,295,510 of its ordinary shares.

Also, the business announced its “strongest ever first launch period,” which was mostly attributable to the state of Ohio, which started legalizing sports betting on January 1. The departure of Chief Financial Officer Peter Messner was announced by the corporation on February 8. Also, in February, Better Collective acquired a 2% ownership position in the business.

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About Lou De Aguila

Lou Aguila is a news and feature writer for Golden Casino News. For over a decade, Lou has published news and featured articles for some of the most reputable sports betting and online casino sites in the world, including BetNow.UK, VegasOdds, and BWin. Apart from being a hardcore live casino punter, he also covers sports stories in North American leagues from time to time.