Catena Media, an online sports betting and casino affiliate, has announced a strong revenue inflow in Massachusetts. This follows the launch of the state’s licensed online sports betting on March 10.
The group has accumulated healthy player referral rates on its own national brands such as Lineups.com, TheLines.com and more, in addition to its regional website PlayMA.com.
The appetite for legalized sports betting in the Bay State was expected to be high after Catena Media attracted strong player interest regarding its pre-launch-day offers. Massachusetts has strong sporting traditions, home to such decorated teams as the Boston Celtics, New England Patriots, Boston Bruins and the Boston Red Sox.
Ten operators were approved to provide online sportsbook services to the Bay State since the inception of sports betting in the state. These included big names such as BetMGM, WynnBet and FanDuel.
Catena Media VP of North America Ryan Harper commented: “We are more than excited to be able to provide online sports betting affiliation to the people of Massachusetts. As a state with lots of sports history, we expect a high level of engagement going forward."
Massachusetts was the fifth North American state or province to launch sports betting after Kansas, Ontario, Maryland and Ohio. Catena Media is active in over 20 regulated states or provinces and the company is most active in the North American market.
As of the end of the year, Catena Media, had garnered a revenue of $89.9m, which was up 24% from the same prior year period. The adjusted EBITDA margin in North America was 62%.
Recently, the company launched operations in Ohio. It was in the Buckeye State that Catena recorded its strongest-ever launch period for a state licensed for sports betting.