Betting Losses can be offset by the growth of vertical online casino

The company, which is part of many European gambling market – Catena Media, announced revenue growth of 2.3% in the first quarter. Its representatives point out that despite the decline in activity of users in the industry betting, the situation smoothes the growing interest in online casinos.

 Experts also do not deny the negative impact on the market exerted coronavirus pandemic.

 Total Company’s revenues amounted to € 26.7 million, while a year earlier the index was fixed at € 26.1 Mill.

 According to the provided data, vertical online casino has generated 61% of revenue, the sports betting industry – 33%. Another 6% of revenue came from the provision of financial services.

 The company also noted that in the first quarter of the online casino segment is distinguished not only by high financial performance, but also noted the high traffic numbers and attract new customers. The volume and number of implemented deposits increased compared to the fourth quarter of 2019.

 With regard to betting segment the company noted that the interaction with key operators was not interrupted despite the difficult situation. Segment tries to focus on the promotion of the sporting events that are still held, even in the conditions of quarantine.

 The company also noted a trend bettors transition into the ranks of users of online casinos, more on this in a separate article.

 Note also that the EBITDA increased by 15.2% – to € 12.9 Mill.

 The company noted that in the current period are not carried out any major investment. One of the negative trends of the quarantine period, the company was named the tightening of the operators associated with the need to protect the rights of users. As an example of such jurisdictions like Sweden, Spain and Portugal were given.

 However, the company believes that despite the short-term negative impact of the tightening of the rules, the situation will be mitigated by growth in the number of new users of online gambling.

 Recall that information about the results of the monopoly operator in Finland published in our dedicated article.

 See also: Coronavirus: impact on gaming markets around the world

 See also: Online gambling market segment in a pandemic: the slice of the countries

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