North American iGaming spearheads 33% Catena Media revenue growth
Q3 growth boosted by iGaming launch in Arizona.
Catena Media plc has today announced its financial results for the third quarter of 2021. Results show impressive growth for the affiliate, led by movements in the US iGaming market.
Catena’s Q3 revenue has been recorded at approximately $24.9m, a 33% year-on-year growth. North American iGaming revenue grew even more drastically, seeing a 124% increase and representing 51% of total group revenue during the period.
According to the affiliate, this impressive growth can be attributed to the acquisition of two US-based companies as well as the launch of iGaming in the state of Arizona.
Catena Media CEO Michael Daly said: “Q3 was an exceptional quarter with September revenue breaking our monthly all-time high. This was the result of our strategic investment in organic development, particularly in North America, and was supported by two recent acquisitions in the United States and the opening of the iGaming market in Arizona.”
EBITDA has seen a growth of 33%, coming in at $18.6m. The financial results also show an estimated organic growth of 34%, however, this excludes Germany, where revenue fell by 62%.
Q3 has also seen Catena employ Jules Bazley as the affiliates VP Europe, Middle Eastern and African territories.
Earlier this year, the company made strides in the North American gaming market, launching its portfolio in Michigan and Virginia.
Michael Daly, vice president North America, said: “Catena Media’s North America team is excited about not just one, but two states, Michigan and Virginia, reaching fruition in their online sports betting process by going live last week.
“For Catena Media, it is just another step, albeit a large one, in our journey with those states, which began in 2018 when we first launched PlayMichigan.com.”
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