Catena Media Reports Strong Growth in Q3
Catena Media has announced the preliminary results for the third quarter ahead of the interim report to be published on November 17.
The company reports strong growth in revenue and adjusted EBITDA fuelled by an exceptionally strong US performance, along with an impairment charge arising from a writedown of German and French sports assets.
Revenue in Q3 is estimated at EUR 33.1m (24.9m), up 33% from the same period last year. Revenue from North American iGaming increased by approximately 124% and accounted for 51% of group revenue during the quarter.
Organic growth is estimated at 23%, or 34% excluding the now-regulated German iGaming market, where revenue fell approximately 62% and accounted for 4% of group revenue during the quarter.
Adjusted EBITDA, excluding items affecting comparability, is estimated at EUR 16.0m (12.0m), an increase of 33% and corresponding to a margin of 48%.
Operating profit will be negatively impacted by a non-cash impairment of intangible assets in accordance with IAS 36, resulting in an estimated writedown of EUR 49.4m. EUR 42.8m of the writedown pertains to German sports assets acquired between 2016 and 2018. EUR 6.6m relates to French sports assets acquired in 2018.
The writedown and consequent impairment charge reflect an updated assessment by management of the assets’ expected future earnings in the context of recent regulatory changes in Germany’s iGaming market and overall market conditions. Management regularly assesses expected future earnings in accordance with IAS 36 and may further adjust assets’ amortisation plans. The writedown will have no impact on cash flow.
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. The impairment charge adjusts our European business to new market realities following a review by the management team and our focus on transforming the business to reach maximum potential.”
XLMedia Partially Disposes Personal Finance Assets for $1.3 Million
XLMedia has announced the part disposal of the Group’s Personal Finance assets for a total cash consideration of $1.3 million (the Disposal). The Disposal comprises domains and websites including Investor Junkie, Greedy Rates and Young and Thifty owned by XLMedia Publishing Limited and Webpals Systems SC Limited, subsidiaries of XLMedia plc. The cash generated from the Disposal will be utilised in the day-to-day operations of the business.
The Disposal is in line with the Company’s strategy to exit non-core activities while focusing on the Group’s Sports and Gaming business, expanding its North American Sports footprint, while also refining and developing the Group’s EU Sports portfolio, and the Group’s Gaming assets in selected markets, including the US.
In the year ended 31 December 2022, the assets relating to the Personal Finance division generated revenues of $1.9 million and EBITDA loss of $1.3 million.
The Personal Finance assets were excluded from continuing operations as disclosed in the Company’s year ended 31 December 2022 results and have no impact on earnings in the current financial year.
Following the sale of these assets to MPD Media, the process to sell the remaining Personal Finance assets is at an advanced stage, but there is no certainty that a transaction or transactions will complete.
IGSA Celebrates 25th Anniversary
The International Gaming Standards Association (IGSA) is celebrating 25 years of its role in support of gaming industry standards.
IGSA president Peter DeRaedt said: “In addition to the many champions and pioneers of our technical standards, we’re also proud and honoured to have featured a keynote video by Trevor Croker, CEO of Aristocrat Leisure, a founding IGSA member, and this week to feature a keynote video address by Rich Schneider, chief product officer of Light & Wonder and another 25-year IGSA member.”
Mark Pace, vice-president of the IGSA, said: “It has been great to see the congratulations and well wishes come in from all over the world from our current and former members, friends and colleagues.
“These companies have joined in celebrating IGSA’s 25-year anniversary through video messages that we have posted on our social media channels and website.
“We invite all our current and past members to join us at our annual meeting celebration and get-together at Canaletto in the Palazzo on October 10 while you’re at G2E.”
Former iGaming Director Unveils Holistic Wellbeing Platform for the Gaming industry
HabitRewire, an industry leader in health and wellbeing for the iGaming sector, announced the debut of its innovative iGaming wellbeing platform. The turnkey white-label wellbeing solution can be accessed at any time, anywhere via a user-friendly app, helping employees across the world improve their wellbeing 24/7, inside and outside the workplace.
Presented as a ready-to-use white-label solution that can be branded as the company’s own, it offers an holistic, wide-ranging, and result-driven wellbeing solution that can be instantly deployed.
The platform draws upon HabitRewire’s ‘Habit Rewiring’ methodology, which is backed by robust scientific evidence. This innovative method is engineered to stimulate sustainable behavioural change, helping employees use daily practices to build the skills and habits to improve their physical health, mental wellbeing, and workplace productivity.
“True health and wellness stretch beyond diet and exercise,” affirmed Leo Judkins, Founder of HabitRewire. “Our platform delivers personalised, comprehensive wellbeing interactions across nutrition, movement, sleep, stress, time management and productivity to help employees reach their goals efficiently and effectively, wherever they are.”
The uniqueness of HabitRewire’s platform lies in its CRM capabilities and unique focus on the iGaming industry, reflecting Judkins’ rich, 12-year experience as a CRM Director in the field. His extensive knowledge from developing marketing automation platforms and managing global marketing teams, combined with personal journey of losing 35kg has directly influenced the creation of the HabitRewire platform.
“We use behavioural data, customer segmentation, and automated lifecycle campaigns to create personalised interactions throughout the employees entire wellbeing journey. From the initial stages of activation, onboarding and engagement, right through to retention and reactivation phases.” Judkins noted.
HabitRewire’s platform incorporates an various features such as weekly challenges, daily check-ins, community chats for peer-to-peer encouragement, leaderboards, workouts, recipe books and lifestyle guides.
Designed with the modern workforce in mind, the platform provides employee with a personalised dashboard that includes training advice, nutrition tips, and recovery strategies. The app allows users to schedule coaching calls with a team of experts that includes certified nutritionists, online personal trainers, sleep coaches, stress management professionals, and behaviour change specialists. Additionally, users can track their progress in real-time and sync their data with wearables and services like Apple Health.
“Most wellbeing solutions aren’t accessible for the employees who need it the most. They simply don’t have the time or energy to participate, which a key part of the problem. Our objective is to help people achieve their health and wellbeing goals, no matter where they are in their journey or what’s going on in their life right now” stated Judkins.
HabitRewire’s innovative platform signifies the shift towards proactive and individual care in the workplace, delivering wellbeing solutions directly to employees’ fingertips, no matter if they work from home or from an office.
Companies using HabitRewire’s platform can expect enhanced performance, increased productivity, and a significantly improved working environment. All quantified in weekly management reports that show measurable results.
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