Catena Media to investigate sale of flagship AskGamblers brand
In an update to shareholders, the company said: “Catena Media’s board continuously evaluates strategic initiatives, including potential transactions, structural changes and other strategic initiatives with a view to achieving the best outcomes for the company and its shareholders in the long term.”
However, the affiliate did stress that no decision has yet been taken regarding the future of specific assets and that the best option may still be to sit tight and change nothing.
Aside from AskGamblers, Catena’s financial trading assets, including the AskTraders brand, is also thought to have attracted external interest from potential buyers.
The news inspired a 9% daily increase in Catena Media’s share price on Friday 20 May.Two days prior, Catena Media reported record revenue of €45.2m for Q1 2022 amid an annual rise of 11%.
Q1 revenue from AskGamblers dipped slightly compared to the same period of 2021, although the brand did set a monthly revenue record in March.
In the accompanying Q1 report, Catena said a long-term programme to improve the brand’s search engine rankings had progressed as planned, while a full-year 2021 update said AskGamblers would broaden its game portfolio and expand into sports betting and esports.
The affiliate anticipates the revenue impacts of these measures to be realised in early 2023.
AskGamblers was founded to provide online casino players with transparent, unbiased casino and game reviews.
It was bought by Catena Media in 2016 for €15m and has since amassed an enormous and engaged online community while launching an annual awards ceremony.