“ As Better Collective continues to dominate , the erstwhile market leader Catena Media has also been busy divesting itself of large chunks of its business ” INDUSTRY SOURCE
€ 133.8m . However , after a series of sales of key parts of its European and global operations , revenues for the quarter just gone came in at just € 13.3m , its lowest quarterly revenue total since the fourth quarter of 2016 .
For the first nine months of 2023 , revenues hit € 66.4m while the total for the last 12 months stands at € 93.8m .
The effort to shear away the elements of Catena Media that don ’ t have a footprint in North America has all been done under the auspices of a strategic review that Catena says is now complete .
Accompanying its third-quarter release , Catena announced its last divestment , this time of its Italian-facing affiliate interests to two buyers for a total of € 19.8m , one of which was later revealed to be Oddschecker Global Media which bought the SuperScommesse business .
In total , Catena has brought in € 76m from the various sales including € 6m for its UK and Australian racing-based assets , € 5.2m for ‘ other ’ sales which includes its paid media business , Acroud , and the biggest deal of the lot , € 45m for AskGamblers which was sold to GiG in December 2022 .
It is the latter deal which has proven to be the most contentious , not down to what was said at the time but rather because of a to-and-fro between Catena Media and GiG after the deal was done .
THE DALY GRIND
On the early part of Catena ’ s call with the analysts in November , CEO Michael Daly stuck rigidly to the script . The divestment , he said , was about “ streamlining the organisation and equipping us for the next chapter in our story .”
“ The plan formed during that review was about focusing the
February 2024