Catena Media has engaged Carnegie Investment Bank to assess strategic avenues, potentially encompassing a complete divestiture. This follows Catena Media’s announcement of a strategic evaluation in May 2022, where they resolved to optimize operations and prioritize the North American market. Initially exploring the sale of specific assets, they have now disclosed their willingness to entertain bids for the entire entity, either via a strategic agreement or a public tender offer. However, no official proposals have been submitted at this time. It’s important to remember that this process commenced after Catena Media reported unprecedented revenue in the first quarter of the previous year, reaching €45.2 million (approximately $47 million).
Gaming Innovation Group (GiG) announced robust Q1 2023 financial results, with income soaring 11% annually, reaching €5 million. This remarkable expansion comes on the heels of a series of astute corporate decisions, such as the latest €45 million purchase of numerous casino referral platforms from Catena Group. These platforms, encompassing well-known entities like Askgamblers.com, Johnslots.com, and Newcasinos.com, are projected to substantially enhance GiG’s footprint within the internet gaming sector. Last August, the firm expanded its strategic assessment to include all its European activities, hinting at potentially more substantial advancements in the coming months.
