Affiliate marketing company Catena Media has concluded its strategic review, finalizing the sale of its Italian casino and sports betting assets for €19.8 million ($21.6 million). This strategic shift, initiated in May 2022, reflects Catena Media’s focus on concentrating efforts on regulated markets, particularly in the Americas.
Financial Impact of Divestments:
The completed divestments, including the recent sale of Italian assets, are anticipated to generate approximately €76 million in total proceeds for Catena Media. This figure includes €45 million from AskGamblers, €19.8 million from Italy, €6 million from the UK/Australia region, and €5.2 million from other sources. The proceeds are expected to enhance Catena Media’s financial position, enabling debt repayment.
Operational Streamlining and Cost Savings:
The strategic moves align with the company’s objective to streamline operations, leading to annualized cost savings ranging between €3.8 million and €4.2 million. These savings primarily result from operational efficiencies in Catena Media’s European operations.
CEO’s Perspective:
Catena Media CEO Michael Daly emphasized the completion of the transition into a group with a clear focus on stable, regulated markets, especially in the Americas. He highlighted the improved financial position resulting from the divestments, allowing the company to allocate resources to capture long-term growth opportunities.
Details of Italian Asset Sale:
Catena Media detailed the specifics of the Italian asset sale, involving agreements to sell online sports betting and casino assets for €19.8 million. The transactions cover Catena Media’s Italian online sports and casino brands, signifying its exit from the Italian market. The staggered payments, totaling €12.8 million between October and November 2023, €3.5 million in Q4 2024, and another €3.5 million in Q2 2025, aim to reduce debt while resulting in an impairment charge of €2.7 million.
Strategic Focus on Americas:
Daly expressed satisfaction with securing a positive outcome for the Italian sports betting and casino brands, aligning with Catena Media’s focus on high-growth regulated markets, particularly in the Americas. The divestments reinforce the company’s strategic focus, strengthen its financial position, and provide opportunities for further operational streamlining.
Catena Media’s successful conclusion of its strategic review, marked by the sale of Italian assets, positions the company to concentrate on regulated markets in the Americas. The financial impact, operational streamlining, and cost savings underscore Catena Media’s commitment to a focused and agile business strategy, positioning itself for sustained growth in the evolving affiliate marketing landscape.