The affiliate however, managed to prevent a fourth consecutive quarter of decline, with Q3’s revenue 11% higher than Q2’s total of €23.7m.

New depositing customers (NDCs) dropped 28% year-on-year to 99,435 as EBITDA decreased 11% to €32m.

Catena reported profit of €11.9m for the quarter, up 37%.

Organic revenue growth slowed down by 10% for the affiliate, totalling €23.1m. However, the figure represents an 11.4% increase from this year’s Q2 result.

The affiliate saw 62% (€16.4m) of its overall revenue come from its casino sector. Sports betting was the second-best performer for Catena, generating 33% of revenue with €8.6m. Financial services made €1.4m, 5% of overall revenue.

These results bring Catena’s year-to-date revenue to €76.3m, down 2% year-on-year.

EBITDA decreased 11%, totalling €32m, and net cash generated from operating activities amounted to €28.7m.

New depositing customers decreased 21% to 323,423.