Catena Media announces successful sports betting launch in Massachusetts
Catena Media, North America's leading online sports betting and casino affiliate, today announces strong initial revenue inflow in Massachusetts following the launch weekend of the state's licensed online sports betting, which began on 10 March.
The group notched healthy player referral rates on its national brands such as LegalSportsReport.com, GamingToday.com, TheLines.com and Lineups.com, as well as its regional website PlayMA.com.
Appetite for legalised sports betting had been expected to be high after Catena Media attracted strong player interest for pre-launch-day offers. Massachusetts, with a population of 7 million, has strong sporting traditions and is home to teams including the Boston Celtics, New England Patriots, Boston Bruins and Boston Red Sox.
Ten operators were approved to provide online sportsbook services to Massachusetts citizens from 10 March, of which six launched operations on day one.
Ryan Harper, Vice President North America, said: “We are more than excited to be able to provide online sports betting affiliation to the people of Massachusetts. As a state with lots of sports history, we expect a high level of engagement going forward.”
Massachusetts is the fifth North American state or province to launch online sports betting in the last 12 months after Ontario, Kansas, Maryland and Ohio. Catena Media is a leading marketing affiliate for online sports betting and casino in North America. The group is active in over 20 regulated states or provinces, and the region is today the group's core market following rapid expansion in the last few years.
As at 31 December 2022, the group had 12-month North American revenue of approximately EUR 84 million, up 24 percent from the prior year, and an adjusted EBITDA margin in North America of 62 percent. Recently the group launched operations in Ohio, which recorded Catena Media's strongest ever launch period for a US state for licensed online sports betting.
Contact details for further information:
Investor Relations
Email: ir@catenamedia.com
Michael Daly, CEO
Email: michael.daly@catenamedia.com
Peter Messner, Group CFO
Phone: +46 768 95 26 93, Email: peter.messner@catenamedia.com
The information was submitted for publication by the contact persons above on 14 March 2023 at 08:00 CET.
About Catena Media
Catena Media is a global leader in generating high-value leads for operators of online casino and sports betting platforms. The group’s large portfolio of web-based affiliation brands guides users to customer websites and enriches the experience of players worldwide. Headquartered in Malta, the group employs over 350 people worldwide. The share (CTM) is listed on Nasdaq Stockholm Mid Cap. For further information see catenamedia.com.