A top online sports betting partner, Catena Media, predicts a powerful conclusion to the year, estimating a 31% revenue jump in its North American sector for the final quarter compared to the previous year. This area, predicted to bring in $16.4 million, will represent a significant 78% of the group’s overall earnings. Catena Media anticipates a 15% rise in Q4 revenue, hitting $23.8 million, with adjusted EBITDA expected at $9.4 million, signifying a 14% climb.
This optimistic forecast is driven by the solid performance of Catena Media’s primary activities in North America, especially the successful introduction of sports wagering in Maryland and Ohio. Nevertheless, the firm has also sounded a note of warning, suggesting a possible decrease in operating income due to a $7.8 million impairment expense.
Separately, Catena Media has engaged Carnegie Investment Bank as its new financial consultant.
The firm is contemplating its trajectory and collaborating with economic advisors to explore various possibilities. This encompasses discussions with other entities that have expressed interest in acquiring segments of the enterprise, or potentially the entirety of it.