A top online gaming affiliate, Catena Media, anticipates a robust conclusion to 2022, forecasting a 31% upswing in North American earnings for the final quarter. This area now constitutes a significant 78% of their overall income, projected to reach \$16.4 million.
This notable expansion is driven by the successful introduction of sports wagering in Maryland and Ohio, with the latter proving especially profitable for Catena. In total, the firm predicts a 15% climb in overall revenue, hitting \$23.8 million for the quarter.
Despite an expected impairment expense of \$7.8 million, Catena projects a 14% boost in adjusted EBITDA, reaching \$9.4 million. Chief Executive Michael Daly conveyed contentment with the company’s strategic growth in North America, emphasizing the recent divestment of AskGamblers as a crucial action. Looking forward, Catena has designated Carnegie Investment Bank as their new financial counsel, indicating potential upcoming expansion and investment.
The firm is contemplating its trajectory and engaging in discussions with a financial institution and several other entities that have expressed interest in acquiring portions of the business, or potentially the entirety of its operations.
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