By Iqbal Johal
Catena Media has reported a 2% year-on-year rise in revenue for Q1 2020, outlining that the coronavirus pandemic has had a limited impact on operations.
Revenue rose to €26.7m ($29m) for the first three months of the year up to 31 March, with adjusted EBITDA – excluding exceptional costs – increasing by 15% to €12.9m.
Its casino segment was the highest-performing vertical, contributing 61% of revenue, with sports betting representing 33%.
The company said the coronavirus outbreak hasn’t had much effect on operations at this stage, with any limitations on average player values to be offset by an increase in the number of players.
Catena Media CEO, Per Hellberg, said: «Our business remains strong and I am happy to see revenues in the first quarter increased compared to last year and that April has continued to develop well, despite weaker performance from the sports segment.
«Further, it makes me proud to see our employees continue to achieve great things while working remotely.»
Last month, Catena Media mentioned the suspension of all major sport meant it was focusing on its casino business, with revenue increasing 6% yearly from January to February, to €18m.