Catena Media forecasts record revenue and profit for Q2

Catena Media forecasts record revenue and profit for Q2

Affiliate giant Catena Media has said that it expects to achieve record revenue and profit in the second quarter of 2020, despite its business being affected by the novel coronavirus (Covid-19) pandemic.

Published 20th July 2020

Catena said in a trading update that revenue for the three months to 30 June is likely to amount to €27.7m (£25.2m/$31.7m). This would represent a rise of 17% on the same period last year, and set a new quarterly revenue record for the business.

According to Catena, the primary reason behind this forecasted increase was the performance of its casino segment, with its AskGamblers brand and Japanese business having their own all-time highs for revenues.

Catena also reported a record quarter for its US business, as with all land-based casinos in the country closed for most of Q2 and sports wagering almost non-existent, online and social casinos saw “tremendous growth rates”.

Read the full story on iGB.

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