Catena Media recently initiated a review of its various divisions, including flagship brand AskGamblers and its financial trading segment.
However, the review has now been expanded to include all of Catena’s remaining European gambling assets. These businesses have faced challenges in recent years, mainly due to regulatory issues in countries such as the UK, Netherlands, Germany, and Sweden.
The strategic review aims to identify efficiencies in Catena Media’s European operations and focus on higher margin opportunities in the region. This will allow the company to allocate more resources towards the fast-growing North American business, as well as the Asia-Pacific and Latin American regions.
As part of the review, Catena Media has already entered into a consultation process to address redundancies in the UK and Malta. The company expects to save €5m per year through the actions taken during the review and will provide an update on its results in September.
