With the addition of Catena Media, European assets now have even greater exposure to potential investors.
Catena Media has announced that they are expanding their strategic review to cover the entire European business.
In a move that was originally thought to be protective, the review has turned out not only as beneficial but also shocking. The company’s financial trading segment and Ask Gambler brand were among those targeted for sale in an effort by management at Catena PDK LLC.
The company is increasing its review to include all of their European online sports betting and casino business. They expect this action will save them at least €5 million per year, which could be an important signal for the future direction in which they want take part economically within these transactions given how much competition there already seems like between different brands operating throughout Europe.
Catena’s European business has faced some challenges in recent years, specifically with regards to regulatory changes that have occurred within the UK and Sweden.
A key example is how Catena had trouble adapting its operations after it was required by law here at home while also operating internationally – something they say put them under more pressure than ever before.
As Europe’s economy continues to struggle, it has had an effect on the company’s outlook in that region. Casino operations are particularly impacted because of their link with gambling trends and general economic conditions among other factors which may affect them negatively or positively.
Catena is looking to “make the most of its resources” in an effort reduce costs while still remaining competitive. It plans on doing this by identifying opportunities for efficiency and freeing up additional capital where possible so that it can take full advantage when they arise across North America, Latin America or Asia Pacific regions.
Catena Media is looking to increase their focus on higher margin opportunities within the region, by identifying efficiencies in European operations.
“The company has situated itself to take advantage of fast-growing industries in North America and Asia. In order for it maximize value, they are freeing up resources by moving some businesses out into new regions.”
Catena has announced that they will be entering into a formal consultation process, which aims to provide an update on their findings by the end of September.
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