Catena Media revenue up 61% in Q3

liate network Catena Media has announced a 61% year-on-year increase in revenue for the third quarter of 2017, marking the best quarter of growth for the company since its founding.

In its third financial report of the year, the company posted revenues of €17.26m, rising sharply from the €10.73m reported during the same period of 2016.

This record period was also marked by a 79% year-on-year increase in new depositing customers, which grew from the 56,352 customers reported during Q3 2016 to 100,741 customers in the same period of 2017.

Operating profits grew by 44% from €4.65m in Q3 2016 to €7.57m during Q3 2017, while EBITDA grew from €4.93m during 2016 to over €8.81m in the third quarter of 2017.

In a statement released with the figures, Catena's acting CEO Henrik Persson Ekdahl said: “Casino and sport both performed strongly in Q3 and this trend appears to continue through Q4. Preparations ahead of the 2018 Winter Olympics and the FIFA World Cup are in full swing.

“We are expectant and optimistic about our strategic, operational and financial performance, and we eagerly anticipate the new, forthcoming challenges that await.”

The company recently agreed a $350,000 deal to purchase online poker news and comparison site PokerScout.com, with the stated aim of taking advantage of the legalisation of online gaming in Pennsylvania.

In his closing remarks, Ekdahl shed more light on the move, saying: “Catena Media expect a gradual development of the Pennsylvania business and to be live within 9-12 months. We also have very strong domains like PlayUSA.com, PlayPennsylvania.com and USPoker.com. Following this opening, Catena Media will continue to strengthen its presence on the US market in line with the company’s growth strategy.”