Catena Media aims to save €5m in review of European business

The affiliate giant has begun a consultation on layoffs in Europe.

Malta.- The affiliate group Catena Media has announced that it has extended its strategic review in a bid to save €5m. It had announced in May that it would review its business following takeover interest. It’s now extended that review to cover its whole European online betting and casino business.

That expansion of the review includes beginning a consultation process for redundancies in both Malta and the UK. Until now, the strategic review had focused on particular divisions, exploring a possible sale of its AskGamblers brand and its financial trading segment.

Catena said it had decided to expand the review following “challenges in recent years” including new regulatory environments in Germany, The Netherlands and Sweden. Catena expects to provide an update on the results of the review next month.

The company said in a statement: “The expanded strategic review seeks to identify efficiencies in Catena Media’s European operations and to increase the group’s focus on higher margin opportunities within the region.

“The intention is to free up resources to capitalise on growth opportunities in the fast-growing North American business and in the Asia-Pacific and Latin American regions, thus creating maximum value for the company and its shareholders going forward.”

This month, Catena signed a major US deal with Advance Local.