Casino growth offsets sports decline for Catena in Q1

Casino growth offsets sports decline for Catena in Q1

Catena Media has reported a 2.3% year-on-year increase in revenue for the first quarter in its preliminary results for the period, despite the sports betting arm of its business being impacted by the ongoing novel coronavirus (Covid-19) global pandemic.

Published 30th April 2020

Revenue for the three months to 31 March totalled €26.7m (£23.3m/$29.0m), up from €26.1m in the corresponding period last year.

Catena said its casino segment was responsible for 61% of revenue during Q1, with sports representing 33% of overall revenue and financial services 6%.

The affiliate giant said that the casino segment performed well during the period, with traffic and new depositing customers both higher than in Q4 of 2019.

In terms of sports, despite this segment suffering, Catena said it continued to work with key operators to promote sports events that are still running, while increased focus was put on converting traffic from a number of sports-related sites into casino revenues.

Read the full story on iGB.