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Catena Media reports “another strong quarter of revenue growth and forward momentum”

Catena Media has reported operating revenue of €30.4m ($35.7m) for the second quarter of 2021, a 9% increase from Q2 2020.

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North American iGaming revenue rose by 37%, accounting for 41% of total group revenue. Adjusted EBITDA for the period totalled €14.9m, a 1% year-on-year increase, with new depositing customers (NDCs) increasing by 34% to 140,025.

“I am exceptionally pleased with the group’s financial results for the second quarter, in which we surpassed last year’s revenue by 9% and lifted adjusted EBITDA by 1%,” said Catena Media CEO Michael Daly (pictured). “This outcome represents a notable achievement considering the one-off spike in casino gaming seen in the second quarter of 2020, when COVID-related lockdowns sparked an unprecedented surge in consumer interest and player activity.

“The results demonstrate the robustness of our business model as they came in the face of low seasonal sports activity in the US, the re-opening this year of land-based entertainment venues in North America and other locations, and a sharp increase in product investment in Q2 compared to the same period last year.”

Daly also highlighted the company’s acquisition of US online sports affiliation group Lineups.com, which took place on 4 May, noting: “Following a swift integration process, Lineups has performed in line with expectations given the customary sharp dip in sports during the summer off-season. We expect a strong performance from September, when the National Football League (NFL) resumes and player activity traditionally surges.”

For the first half of 2021, Catena reported a 31% increase in operating revenue to €71.1m. Revenue in North American iGaming rose by 121%, while adjusted EBITDA rose by 44% to €40m. NDCs for the period totalled 297,571, a 33% increase.

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