Encountering challenges within the European market, Catena Media is redirecting its attention toward areas of greater potential. Initially intending to divest specific holdings, the firm has opted instead for a thorough evaluation of its complete European online sports wagering and gaming affiliate enterprise.
Referencing regulatory shifts in significant markets such as the UK, Sweden, Germany, and the Netherlands, coupled with adverse market trends (particularly within the casino vertical), Catena seeks to optimize its European activities. The objective is to realize a minimum of €5 million in yearly cost reductions and liberate resources to leverage profitable prospects in North America, Latin America, and the Asia-Pacific zone.
We were refocusing our efforts to prioritize expansion within North America, in addition to the promising opportunities present in the Asian and South American sectors. This calculated decision centers around optimizing returns for our organization and investors.”
Catena further indicated that they would initiate conversations with personnel in the UK and Malta regarding potential employment consequences. They anticipate having more definitive details to disclose by late September.
admin