Catena Media anticipates a robust conclusion to the year, with North American earnings projected to reach $16.4 million in the final quarter. This signifies a 31% surge compared to the corresponding period last year and would constitute a substantial 78% of the company’s overall revenue. In aggregate, they foresee a 15% rise in total revenue, attaining $23.8 million for the quarter.
This triumph is largely credited to their flourishing North American operations, particularly their impressive entry into the US sports wagering sector. They emphasized the successful commencement of sports betting in Maryland in November and the auspicious launch in Ohio on January 1st, 2023.
Despite this optimistic forecast, the firm did caution about a possible decline in operating earnings due to a $7.8 million charge associated with asset write-downs.
Furthermore, Catena Media has engaged a new financial consultant, Carnegie Investment Bank. This selection, coupled with the recent divestiture of AskGamblers and other holdings, demonstrates the company’s ongoing strategic assessment and its dedication to concentrating on its core competencies as it enters 2023.
The firm is collaborating with a financial institution to assess its possibilities. This encompasses discussions with other enterprises that have expressed interest in acquiring portions of the company, potentially even the entire entity.