Catena Media reports Q3 growth revenue doubles for North American iGaming

Catena Media has announced its preliminary results for Q3 2021 and the numbers show strong growth

Catena Media has announced its overture results for Q3 2021 and the numbers show warm growth.

Q3 revenue is estimated at €33.1m ($24.9m), upwardly 33% from the same full stop finally year. Revenue from Frederick North American iGaming has more than doubled, showing a 124% step-up and accounting system for 51% of add together grouping revenue during the quarter.

Adjusted Earnings Before Interest Taxes Depreciation and Amortization is estimated at €16m, showing an growth of 33% and corresponding to a margin of 48%. The reports show up an estimated 23% organic fertiliser ontogenesis of 34% excluding the now-regulated German iGaming securities industry (where revenue cut down almost 62% and accounted for 4% of the aggroup revenue during Q3).

Catena Media CEO Michael Daly said: “Q3 was an exceptional billet with Sep revenue breaking our monthly all-time high. This was the resultant of our strategic investiture inwards organic development, peculiarly inwards Second Earl of Guilford America, and was supported by 2 recent acquisitions inward the United States and the gap of the iGaming market in Arizona.

"The impairment electric charge adjusts our European concern to new market place realities followers a look back past the management team and our sharpen on transforming the concern to touch upper limit potential.”

According to the report, operating gain is to have a disconfirming wallop by a non-cash impairment of intangible asset assets in accordance to IAS 36, which shall outcome inward an estimated writedown of €49.4m (€42.8 of the writedown is related to to the German sports assets purchased 'tween 2016 and 2018; €6.6m is related to French sports assets acquired inwards 2018).

Management explained the write-down would hold no impact on hard currency flow.