Catena Media reports sweepstakes casinos at a third of casino revenue
Catena Media chief executive Manuel Stan said sweepstakes casinos accounted for one-third of the group’s casino revenue and were its fastest-growing vertical. The company reported Q2 revenue of €12.8m, down 14% year on year, while adjusted EBITDA fell 67%. Stan said the group was prioritising core products and expected to complete its management changes by year-end.
Investors can weigh sweepstakes casinos’ share of Catena Media’s casino revenue against falling revenue and adjusted EBITDA.