A top digital gaming partnership firm, Catena Media, announced a 7% increase in earnings for 2022, totaling €110.1 million (equivalent to $117.3 million). This expansion was driven by robust results in the North American region, which now constitutes a significant 77% of the company’s overall earnings.
The North American sector witnessed a notable 24% revenue surge, reaching €84.5 million. This can be partially credited to the successful introduction of internet sports wagering in Maryland, contributing to a 31% revenue leap in the final quarter.
Despite this favorable expansion, the company’s total profit margins experienced a minor decline. Catena Media ascribed this to its ongoing initiatives to optimize operations and prioritize strategic objectives.
Chief Executive Officer Michael Daly conveyed appreciation to the Catena Media staff for their diligent efforts and commitment throughout the year, highlighting their role in the company’s accomplishments in 2022.
While the latest restructuring has presented a few challenges, the team’s unwavering focus on the ultimate goal is truly commendable. My sincere gratitude to each and every one of you.”
It’s important to remember that Catena Media recently became the focus of a strategic investment by competitor Better Collective, which purchased a substantial portion – exceeding 5% – of the company earlier this month.