Catena Media saw its revenue and new customers decrease by a third last year, according to financial results published this week.

The company’s total revenue dropped by almost €50 million, a reduction of 35% compared to the year before, with the largest losses seen in its sports betting activities, which accounted for two-thirds of its total revenue losses.

Meanwhile, the number of new customers making a deposit fell by 30% to just under 129,000.

Catena Media attributed the losses to underperformance and competitive pressures in its North American market, which last year accounted for almost nine-tenths (88%) of its total revenue.

Last year, the company’s North American revenue dropped by almost €44 million – a reduction of a third from 2023.

The results for the last quarter of the year paint a similar picture to the overall results, with revenue from October to December down by more than €4 million – a 30% drop from the previous quarter – and new depositing customers down by one fifth.