Catena Media CEO Michael Daly has stepped down from his role, following consultations from the company Board. The resignation is set to take place immediately, with VP, Corporate Strategy Pierre Cadena set to take the role of Interim CEO.
Daly joined the company in 2018 and has been in the role of CEO since March 2021. In 2023, we spoke with Daly as part of the Gaming America CEO Special.
Recently, Catena Media reported dwindling financial figures, with Q4 showing a revenue decrease of 41% for a total of €14.5m ($15.6m) in the quarter. Daly described the figures as “disappointing and with which I am not satisfied,” however made note of the company’s “wide-ranging internal investment program... to fast-track our ambition to be the data- and technology-driven leader of online affiliate marketing in the sports betting and casino gaming space.”
Part of this decline may also be down to the sale of AskGamblers, which is currently being overseen by Gaming Innovation Group (GiG). The company acquired AskGamblers in early 2023 for €45m and according to GiG’s annual financial report, including contributions from AskGamblers its publishing revenues reached an all-time high, up 32%. For a more comprehensive breakdown of GiG’s annual report, check out our March edition of Trafficology.
However, the past year has also seen several instances of growth for the company, including launches in Massachusetts, North Carolina and Kentucky among others.
On his departure, Chairman of the Board of Directors Göran Blomberg said: “Under Michael Daly's leadership, Catena Media has become an active player in North America and with the actions taken during the strategic review, we have significantly reduced our debt and streamlined the organization.
"With the company facing lower growth, we have started to implement a number of growth initiatives. As we embark on this crucial stage, we are seeking new leadership to drive these initiatives and move Catena Media into its next chapter.”
