{"id":257,"date":"2024-06-27T05:32:53","date_gmt":"2024-06-27T02:32:53","guid":{"rendered":"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/"},"modified":"2024-06-27T05:32:53","modified_gmt":"2024-06-27T02:32:53","slug":"catena-media-completes-workforce-reduction-continues-asset-sale-exploration","status":"publish","type":"post","link":"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/","title":{"rendered":"Catena Media Completes Workforce Reduction, Continues Asset Sale Exploration"},"content":{"rendered":"<p><iframe loading=\"lazy\" width=\"800\" height=\"450\"\n    src=\"https:\/\/www.youtube.com\/embed\/Upk3FCROBX8\"\n    frameborder=\"0\"\n    allow=\"accelerometer; encrypted-media; gyroscope; picture-in-picture\"\n    allowfullscreen><br \/>\n<\/iframe><\/p>\n<p>Catena Media, a major affiliate firm, has declared that its comprehensive review is nearing completion. The company has let go of a quarter of its workforce in Europe. They&#8217;ve asserted that further layoffs are not anticipated, but they&#8217;re still exploring the possibility of divesting some of their assets.<\/p>\n<p>The review commenced in May and initially focused on the potential sale of certain assets, including the AskGamblers brand. However, in August, the company expanded its scope to encompass its entire European gambling operations, announcing a reduction in spending on new ventures.<\/p>\n<p>This decision resulted in discussions with employees in the UK and Malta regarding potential redundancies. Now, the company has confirmed that it has cut 25% of its European workforce, a move expected to generate cost savings of approximately \u20ac5.5 million starting in early 2023.<\/p>\n<p>A Catena spokesperson informed iGB that they have no immediate plans for additional layoffs.<\/p>\n<p>Simultaneously, the company continues to explore the sale of certain assets. Last month, they indicated their intention to consider various strategic alternatives as part of the review, which was originally scheduled for completion in September but has since expanded in scope.<\/p>\n<p>The review is nearing its conclusion. <\/p>\n<p>The chief executive of Catena Media, Michael Daly, stated during the unveiling of their third-quarter financial results that the assessment procedure is nearing its conclusion and that certain assets are currently being transferred to new owners. Daly indicated that a more detailed notification concerning the evaluation will be disseminated &#8220;in the near future.&#8221;<\/p>\n<p>Daly clarified that the assessment process, which is being overseen by external advisors, is approaching its end and has attracted considerable interest from numerous entities.<\/p>\n<p>\u201cAs part of the strategic assessment, we are taking actions, and will continue to take actions in the future, to enhance the company&#8217;s operations to leverage the expansion of online sports wagering and gambling establishments in North America. The regulatory wave emerging in this region is opening up new markets for licensed operators and generating exciting prospects for Catena Media.<\/p>\n<p>\u201cOther future opportunities include Latin America and electronic sports, both of which present significant potential for long-term profitable growth.<\/p>\n<p>\u201cIn Europe, the current high inflation environment is most evident, with player spending experiencing the greatest pressure. During the quarter, we reduced the scale of the business, concentrating on a smaller strategic core of high-margin brands, primarily focused on regulated online sports betting markets and, to a lesser extent, casinos. These key brands are located in the UK and Italy, offering stable short-term growth potential.<\/p>\n<p>\u201cThe restructuring has also enabled us to dispose of some gray market assets as we are fully transitioning to an organization focused on the Americas and other regulated and stable markets.\u201d <\/p>\n<p>This is where the need for backing and expanding authorized web-based sports wagering and gambling dens is most potent, so we are most likely to hold onto our market leadership and attain sustainable high growth over time.&#8221;<\/p>\n<p>Catena Media&#8217;s third-quarter financial performance<\/p>\n<p>Income for the three months ending September 30 was \u20ac32.3 million, down 2.4% from \u20ac33.1 million in the same period last year.<\/p>\n<p>Search income accounted for \u20ac30.8 million of total income for the quarter, down 2.8% from the third quarter of 2021, while paid income increased 7.1% year-on-year to \u20ac1.5 million. Revenue share accounted for 38% of total income, cost of customer acquisition was 54%, and fixed costs were 8%.<\/p>\n<p>By business division, gambling den income declined by 10.0% to \u20ac17.9 million, but sports betting income climbed 12.9% to \u20ac14.0 million. Financial transaction income fell 51.0% to \u20ac367,000.<\/p>\n<p>Turning to costs, total operating expenses fell sharply by 46.5% to \u20ac37.3 million. Catena also noted \u20ac1.1 million in financing costs, but this was offset by \u20ac1.9 million in gains on fair value financial liabilities.<\/p>\n<p>As a result, pre-tax losses fell sharply from \u20ac38.7 million in the third quarter of 2021 to \u20ac5.4 million this year, down 86.1%. Catena paid \u20ac319,000 in taxes, and after including a negative impact of \u20ac226,000 from foreign currency translation and \u20ac1 million in interest payable on hybrid securities, the net loss was \u20ac6.9 million, a significant improvement from \u20ac38.5 million last year. <\/p>\n<p>Nevertheless, Catena also highlighted that modified earnings before interest, taxes, depreciation, and amortization (EBITDA) for the period decreased by 28.7% to \u20ac11.7 million.<\/p>\n<p>**Focusing on Latin America**<br \/>\n\u201cFollowing the strategic evaluation, I anticipate the company concentrating on the high-growth Latin American market,\u201d Daly stated. \u201cI am certain that we will soon witness this dynamic region playing a substantial role in our Americas operations.<\/p>\n<p>\u201cAnother thrilling area is esports, where our Esports.net brand reported robust user expansion in the third quarter, and I believe the future holds significant opportunities.<\/p>\n<p>\u201cWe continue to establish the groundwork for future expansion and are in a more solid position than ever before. Our low debt, robust cash flow, organic search proficiency, and streamlined organization make Catena Media uniquely positioned to lead the potential customer generation for online sports betting and casino in North America and beyond.\u201d<\/p>\n<p>Sign up for the iGaming Newsletter <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Catena Media, a major affiliate firm, has declared that its comprehensive review is nearing completion. The company has let go of a quarter of its workforce in Europe. They&#8217;ve asserted that further layoffs are not anticipated, but they&#8217;re still exploring the possibility of divesting some of their assets. The review commenced in May and initially [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.8 (Yoast SEO v22.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Catena Media Restructures: Layoffs &amp; Asset Review<\/title>\n<meta name=\"description\" content=\"Catena Media completes a major review, resulting in layoffs and potential asset sales. The company aims to streamline operations and explore new opportunities.\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:type\" content=\"article\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:title\" content=\"Catena Media Completes Workforce Reduction, Continues Asset Sale Exploration\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:description\" content=\"Catena Media completes a major review, resulting in layoffs and potential asset sales. The company aims to streamline operations and explore new opportunities.\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:url\" content=\"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"og:site_name\" content=\"Experience the Rush of Licensed Online Casino Gaming Today\" class=\"yoast-seo-meta-tag\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-27T02:32:53+00:00\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"author\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" class=\"yoast-seo-meta-tag\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" class=\"yoast-seo-meta-tag\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" class=\"yoast-seo-meta-tag\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/\",\"url\":\"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/\",\"name\":\"Catena Media Restructures: Layoffs & Asset Review\",\"isPartOf\":{\"@id\":\"https:\/\/elroyalecasinonodepositbonus.icu\/#website\"},\"datePublished\":\"2024-06-27T02:32:53+00:00\",\"dateModified\":\"2024-06-27T02:32:53+00:00\",\"author\":{\"@id\":\"https:\/\/elroyalecasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\"},\"description\":\"Catena Media completes a major review, resulting in layoffs and potential asset sales. The company aims to streamline operations and explore new opportunities.\",\"breadcrumb\":{\"@id\":\"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Homepage\",\"item\":\"https:\/\/elroyalecasinonodepositbonus.icu\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Catena Media Completes Workforce Reduction, Continues Asset Sale Exploration\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/elroyalecasinonodepositbonus.icu\/#website\",\"url\":\"https:\/\/elroyalecasinonodepositbonus.icu\/\",\"name\":\"Experience the Rush of Licensed Online Casino Gaming Today\",\"description\":\"Experience the best of online gambling through our fresh casino news, in-depth game reviews, and informative insights. Discover a world of exciting opportunities at our licensed casino.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/elroyalecasinonodepositbonus.icu\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/elroyalecasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/elroyalecasinonodepositbonus.icu\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"contentUrl\":\"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png\",\"caption\":\"admin\"},\"description\":\"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.\",\"sameAs\":[\"http:\/\/theworldcasino.vip\"],\"url\":\"https:\/\/elroyalecasinonodepositbonus.icu\/author\/ezvhu8xt\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Catena Media Restructures: Layoffs & Asset Review","description":"Catena Media completes a major review, resulting in layoffs and potential asset sales. The company aims to streamline operations and explore new opportunities.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/","og_locale":"en_GB","og_type":"article","og_title":"Catena Media Completes Workforce Reduction, Continues Asset Sale Exploration","og_description":"Catena Media completes a major review, resulting in layoffs and potential asset sales. The company aims to streamline operations and explore new opportunities.","og_url":"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/","og_site_name":"Experience the Rush of Licensed Online Casino Gaming Today","article_published_time":"2024-06-27T02:32:53+00:00","author":"admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"admin","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/","url":"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/","name":"Catena Media Restructures: Layoffs & Asset Review","isPartOf":{"@id":"https:\/\/elroyalecasinonodepositbonus.icu\/#website"},"datePublished":"2024-06-27T02:32:53+00:00","dateModified":"2024-06-27T02:32:53+00:00","author":{"@id":"https:\/\/elroyalecasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0"},"description":"Catena Media completes a major review, resulting in layoffs and potential asset sales. The company aims to streamline operations and explore new opportunities.","breadcrumb":{"@id":"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/elroyalecasinonodepositbonus.icu\/2024\/06\/27\/catena-media-completes-workforce-reduction-continues-asset-sale-exploration\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Homepage","item":"https:\/\/elroyalecasinonodepositbonus.icu\/"},{"@type":"ListItem","position":2,"name":"Catena Media Completes Workforce Reduction, Continues Asset Sale Exploration"}]},{"@type":"WebSite","@id":"https:\/\/elroyalecasinonodepositbonus.icu\/#website","url":"https:\/\/elroyalecasinonodepositbonus.icu\/","name":"Experience the Rush of Licensed Online Casino Gaming Today","description":"Experience the best of online gambling through our fresh casino news, in-depth game reviews, and informative insights. Discover a world of exciting opportunities at our licensed casino.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/elroyalecasinonodepositbonus.icu\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/elroyalecasinonodepositbonus.icu\/#\/schema\/person\/7fe3f8540cfe191b1464d5c1c2f0a7f0","name":"admin","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/elroyalecasinonodepositbonus.icu\/#\/schema\/person\/image\/","url":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","contentUrl":"https:\/\/freecashbonusnodepositcasino.icu\/wp-content\/uploads\/sites\/8\/2024\/06\/sticker-fox-96x96.png","caption":"admin"},"description":"This talented writer and mathematician holds a Ph.D. in Applied Mathematics and a Masters in Probability Theory. With a deep understanding of the intricacies of casino games, they have published numerous articles on game theory, probability, and combinatorics in relation to gambling. Their expertise in discrete mathematics and stochastic processes has made them a sought-after consultant for licensed casinos worldwide. Their articles, reviews, and news pieces provide valuable insights into the world of casino gaming.","sameAs":["http:\/\/theworldcasino.vip"],"url":"https:\/\/elroyalecasinonodepositbonus.icu\/author\/ezvhu8xt\/"}]}},"_links":{"self":[{"href":"https:\/\/elroyalecasinonodepositbonus.icu\/wp-json\/wp\/v2\/posts\/257"}],"collection":[{"href":"https:\/\/elroyalecasinonodepositbonus.icu\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elroyalecasinonodepositbonus.icu\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elroyalecasinonodepositbonus.icu\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/elroyalecasinonodepositbonus.icu\/wp-json\/wp\/v2\/comments?post=257"}],"version-history":[{"count":0,"href":"https:\/\/elroyalecasinonodepositbonus.icu\/wp-json\/wp\/v2\/posts\/257\/revisions"}],"wp:attachment":[{"href":"https:\/\/elroyalecasinonodepositbonus.icu\/wp-json\/wp\/v2\/media?parent=257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elroyalecasinonodepositbonus.icu\/wp-json\/wp\/v2\/categories?post=257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elroyalecasinonodepositbonus.icu\/wp-json\/wp\/v2\/tags?post=257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}