A top digital gaming promotion firm, Catena Media, announced a 2% revenue rise year-over-year for the initial quarter of 2020, indicating the COVID-19 outbreak had a negligible effect on its activities.
The organization produced €26.7 million (roughly $29 million) in earnings during the three months concluding March 31st. Modified EBITDA, excluding specific non-recurring expenses, expanded by 15% to €12.9 million.
Catena Media’s online casino partnership sector was the top earner, providing 61% of overall revenue. Sports wagering, understandably affected by the postponement of significant athletic competitions, constituted the remaining 33%.
Despite the worldwide disturbance triggered by the pandemic, Catena Media witnessed a surge in fresh depositing clients, counterbalancing any constraints in player worth.
Per Hellberg, Chief Executive Officer of Catena Media, conveyed contentment with the company’s results. He emphasized the revenue expansion in the first quarter and the sustained robust momentum in April, notwithstanding the obstacles encountered by the sports wagering sector. Hellberg also praised the company’s workforce for their outstanding efforts while adjusting to telecommuting arrangements.
Previously, Catena Media had declared a 6% year-over-year revenue increase for January and February, attaining €18 million. The enterprise had redirected its emphasis towards its online casino partnership division amidst the suspension of major sporting contests.