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Catena Media Reports a 53% Increase in Revenue for Q1 2021

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Catena Media Reports a 53% Increase in Revenue for Q1 2021
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Catena Media has published its first quarter 2021 results. The company reported operating revenue of €40.7m ($49.8m) for Q1 2021, a 53% increase when compared to Q1 2020.

Organic search revenue was €38.4m, a 61% year-on-year increase, while adjusted EBITDA increased by 94% to €25.1m. Earnings per share were 0.26 and 0.17 before and after dilution respectively, while operating cash flow increased by 85% to €20.8m.

New depositing customers (NDCs) meanwhile totalled 157,546, a 32% increase from the 119,529 NDCs in the prior-year period.

In the Q1 2021 report, Catena also highlighted the growth of its US iGaming operations, which rose by more than 200% to €22.4m. The company also noted significant changes to the board in the period, including Göran Blomberg’s appointment as Interim CEO, effective 7 January 2021, followed by Michael Daly’s appointment as group CEO, effective 1 March 2021.

“I am pleased to report a very strong start to the year by Catena Media. Revenue and earnings reached all-time quarterly highs thanks to exceptional performance in North America and solid gains in other parts of the business. This robust showing provides a springboard to achieve revenue gains during 2021 well above our target of double-digit organic growth,” Daly said.

“Our excellent performance reflects a solid focus on driving our global portfolio of affiliation brands. Revenue growth in North America was exceptional, supported by the successful launch of operations in Michigan and Virginia,” Daly added.

Industry News

Apex Live Gaming Launches ChipperX

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Apex Live Gaming has launched a new device named “ChipperX” for the casinos.

Designed and manufactured by Apex, ChipperX is a dedicated chip management device. It automatically sorts chips by value or colour into one of 12 designated chip tracks. Each chip track is configured to sort and store a defined number of chip types.

“Apex Live Gaming is made up of people who understand and have experience working in land-based casinos. That’s why we make equipment that helps casino staff do their jobs faster, better, more comfortably and easier,” the company said.

ChipperX has the computing power to quickly and accurately count, sort and distribute up to 500 chips per minute. It produces game statistics with a minute-by-minute display stored in the device’s memory for one year.

Easy operation is guaranteed by remote control and diagnostics. Through remote access to ChipperX settings and management, Apex’s team of technicians can help customers control the device remotely in real time. This reduces operating costs and service time.

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Industry News

Paul Mallon Steps Down as Head of Brand Marketing at Paddy Power

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Paul Mallon has stepped down as the head of brand marketing at Paddy Power.

The ad executive spent ten years at the Flutter-owned operator. Mallon began at Paddy Power as a football writer following a time as a journalist at the Irish Daily Star.

He leaves Paddy Power to become head of special ops at the London-based advertising agency Lucky Generals, which was Paddy Power’s creative agency before Flutter’s reorganisation with its The Stars Group merger.

Mallon wrote on LinkedIn: “After an incredibly good time and 10 years at the sublime Paddy Power, I’ve transferred to the mighty Lucky Generals (with huge thanks to the colleagues, agencies and customers who made working for PP such a pleasure).”

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EGT and Mascot Join Forces on Distribution Agreement

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EGT has joined forces with casino equipment provider Mascot on a new distribution agreement. Through the agreement, MASCOT has become the tech company’s new official distributor for France.

The two enterprises shook hands on their future endeavours last month, with plans to immediately introduce the new General series and progressive Jackpots to the French market.

Mascot is founded in 2009 and has been successfully restructuring the company in the past few years, now adopting the highest standards in the sector and motivated to bring new brands to its clients.

“We at EGT are always excited to join forces with reliable partners and cover new ground,” Nadya Popova, EGT’s Sales and Marketing Vice President, said.

“We are thrilled to work with EGT and are preparing many surprises for our clients immediately. We thank EGT for their trust,” François Bourlier, Sales Manager at Mascot, said.

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