A top digital gaming promotion firm, Catena Media, announced sustained income expansion in its initial quarter despite the worldwide effects of COVID-19.
For the period concluding March 31st, income climbed 2% annually to €26.7 million (roughly $29 million USD). The organization stressed that the pandemic had a minimal effect on its overall operations. This upward trajectory was also mirrored in their adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization), which witnessed a 15% jump to €12.9 million, excluding any non-recurring expenses.
The firm’s casino-focused offerings were its most robust sector, producing 61% of total income, with sports wagering contributing a substantial 33%.
Catena Media observed that the global health emergency has not significantly impacted their activities thus far. While the worth of an average user’s engagement might have been influenced, this was counterbalanced by a rise in the total number of users participating on their platforms.
Chief Executive Per Hellberg conveyed contentment with the firm’s results, remarking, “Our enterprise remains robust, and I am delighted with the year-over-year income expansion in the first quarter and that business has continued to progress favorably in April, notwithstanding a softer sports sector.” He also commended the firm’s staff for their ongoing commitment and solid output while telecommuting.
In a prior statement, Catena Media underscored its emphasis on casino entertainment amidst the widespread deferral of major athletic competitions. This tactical choice proved beneficial, as the firm reported a 6% annual income surge in January and February, reaching €18 million.
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