iGB-Affiliate-Monitor_FEBRUARY 2022 - Page 14

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Affiliate Monitor Company-by-company Q3 results analysis
revenues the bounceback was limited . Having fallen back to € 14.9m from € 23.3 , a 36 % fall , it rose € 1.1m in Q3 to € 16m .
A clearer signal of a return to growth comes from the NDC figures in chart 6 . Having hit an all-time high in the first quarter of 157,546 NDCs , the total fell back 11 % in the second quarter , with the 9.8 % rise in the third quarter pushing the total back up to over 150,000 again .
MORE GROWTH IN NORTH AMERICA
Much of the rebound was due to the situation in the US where Catena ’ s continued growth comes both from organic opportunities and from further M & A . Over the period it bought up the gaming-related assets of i15 Media for $ 45m as well as the site Lineups . com .
Both began contributing in September and Catena said the acquisitions were timed so as to occur at the same time as the start of the NFL season . Aided by the launch of Arizona , the combined moves helped push North American revenues up by 124 % year-on-year .
The decent performance continued into the fourth quarter with October revenues up 21 % across the group – but up 125 % for the North American business . Daly however warned that a “ reverse Covid affect ”, i . e . players returning to IRL experiences over
Chart 5 : Catena Media EBITDA Q419-Q321 (€ m )
26
24
23.3
22
20
18
16
16
14.9
14 12 10
12.5
13
12.2
12.4
8
8.5
6
4
2
0
Q419
Q120
Q220
Q320
Q420
Q121
Q221
Q321
Chart 6 : Catena Media NDCs Q419-Q321
160000 157546
153701
150000
140000 140025
130000 125000
120000 119529
113000
110000 104326
100000 95000
90000 Q419 Q120 Q220 Q320 Q420 Q121 Q221 Q321
Source : Company reports
online-only , means the fourth the potential of adding casino .” quarter would “ not quite be the As with rival Better Collective , stratospheric quarter it might Daly said Catena Media was have been ”. positioned well for New York ,
But the long-term opportunity in which opened in January . the US remained solid , he added . “ It ’ s another one of the giants ,” “ It ’ s an unparalleled opportunity . he said . “ We are very well Maybe a third of the total US market positioned there . We work with is available in sports betting and many of [ the nine licensees ] another 14 % upcoming . The giants already and expect to work with remain an unknown and there is most of them .” iGB Affiliate Monitor