Catena announces 31% rise in North American Q4 revenue

Finance News

Catena Media increased revenue by 31 percent in North America in Q4, led by the launch of licensed online sports betting in Maryland. Total group revenue from continuing operations rose 15 percent.

The strategic review concluded with the sale of AskGamblers and related brands for EUR 45 million, streamlining the business to focus on high-growth and regulated markets in North America.

Ninety percent of group revenue now derives from regulated markets, reflecting the group’s commitment to compliance.

In January, revenue from North America rose 19 percent when excluding the exceptional 2022 launches in New York and Louisiana and the 2023 Ohio launch. In total, group revenue from continuing operations decreased by 4 percent, an expected outcome after the record launches last year when North American revenue increased by almost 65 percent from January 2021.

CEO Michael Daly’s comments. The final quarter of 2022 was strong for Catena Media as we recorded a 15 percent increase in revenue to EUR 27.4m, along with growth of 14 percent in adjusted EBITDA from continuing operations. These figures reflected the further expansion of our core North American business, where revenue climbed 31 percent on the back of robust performance in Maryland, which legalised licensed online sports betting in November, a strong World Cup, and contributions from recently opened markets in New York, Louisiana, Ontario and Kansas. We also profited from a favourable run-up period prior to the launch of legal sports betting in Ohio on 1 January 2023.