Catena Media Predicts Strong Finish to Year Driven by North American Growth
A top digital gaming promotion firm, Catena Media, anticipates a robust conclusion to the year, propelled by substantial expansion in the U.S. and Canadian market. They foresee their final quarter earnings in North America hitting $16.4 million, a 31% surge contrasted with the identical timeframe last year, constituting a considerable 78% of their overall income.
Broadly, they project final quarter earnings to reach $23.8 million, a 15% rise year-on-year. This triumph is driven by the flourishing sports wagering sector in the United States, especially with the latest introductions in Maryland and Ohio.
Notwithstanding this optimistic forecast, the organization has cautioned that its operational earnings will be affected by a non-cash impairment expense of $7.8 million.
Chief Executive Michael Daly conveyed his contentment with the company’s strategic implementation, emphasizing the prosperous growth in North America and the current divestment of AskGamblers. He posits these actions reinforce their standing for sustained achievements in 2023.
Separately, Catena has engaged Carnegie Investment Bank to function as their new financial consultant.
The firm is exploring all available avenues, including divesting certain holdings or potentially the entire enterprise. Discussions are underway with several interested entities.
