Catena Media, an organization specializing in iGaming partnerships, is conducting a comprehensive review of its European business units. Initially, the company considered divesting certain segments, such as their financial trading division and the AskGamblers brand.
However, they have now expanded the scope of their assessment. The European sports wagering and casino sectors have experienced reduced profitability, partially attributed to regulatory changes in key markets like the United Kingdom and Germany. Catena Media aims to identify at least 5 million Euros (equivalent to slightly over 5 million US dollars) in cost reductions.
This initiative seeks to liberate resources and enhance operational efficiency. The company intends to prioritize regions with greater growth prospects, particularly North America, Latin America, and the Asia-Pacific area.
Were adjusting our priorities towards more substantial and promising opportunities. The company recognizes significant growth potential in North America, as well as the dynamic markets of Asia and Latin America. This calculated decision will ultimately prove advantageous for both the organization and our esteemed investors.”
Catena further indicated that discussions would be held with their UK and Malta-based personnel regarding potential ramifications. They anticipate providing additional updates by the close of September.
