Catena outlines US affiliate expansion plans

New chief executive optimistic about future

New chief executive for Catena Media, Per Hellberg, said he has set his sights on taking the firm to “new heights” after it posted year-on-year financial growth in the first half.

Hellberg who joined in June, spoke of his optimism and motivation to see the company grow.

Revenue in the six months to June 30 amounted to €50m (£44.6m/$56.9m), up 65% on the corresponding period last year, while EBITDA also hiked 67% to €22.5m. However, a slight drop in EBITDA margin, attributed to higher operating expenses caused by US investment, has led to a drop in the company’s share price on the Stockholm Nasdaq.

The company acquired New Jersey igaming affiliate and Dreamworx Online, a company active in the sports, casino and financial services markets, during the period.

Hellberg said the company is making “considerable investments [in the US], acquiring companies offering a strong foothold and recruiting exceptional talent”.

He added: “Our US sites already have thousands of daily visitors and we are ready to provide quality leads to new operators.

“With economies of scale resulting from these initiatives set to substantially increase our revenues in the long term, we are carefully taking into account the associated short-term decrease in margins."

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