Catena names Erik Edeen as interim chief financial officer

Edeen takes up the role for a second time, replacing Peter Messner.

Sweden.- The affiliate group Catena Media has appointed Erik Edeen as interim chief financial officer (CFO). Replacing Peter Messner, Edeen takes up the role for a second time, having previously served as CFO at Catena from 2019 to 2020.

Catena said that Edeen has 16 years experience of financial management at both private and public corporations including ICA Gruppen AB and Investor AB. He graduated from Uppsala University.

Edeen will take up the role of CFO on an interim basis on May 22 ahead of Messner’s departure in June to allow time for a transition. Messner took up the position in April 2020.

Catena Media CEO Michael Daly said: “I’m excited to welcome Erik as our interim CFO. His long professional career and past experience with Catena Media will make him a valuable member of the executive management team.”

Stockholm-based Catena has hired Carnegie Investment Bank as a financial advisor for strategic evaluations as it explores more divestment and sale options. It said that unnamed third parties had shown interest in acquiring certain assets, and even all the remaining assets of the group.

In December, Catena Media reached a €45m deal to sell its AskGamblers brand to Gaming Innovation Group (GiG) in order to focus on its North American business following its strategic review. It received an initial €20m to be followed by €10m a year after closing and €15m after 24 months.

GiG expects to receive an EBITDA margin of 60-70 per cent, with the new assets expected to generate 53,000 first-time depositors in 2023.

Catena’s remaining igaming affiliate media portfolio includes GamingToday.com, LegalSportsReport.com, Lineups.com, PlayNY.com, NYSportsDay.com and TheLines.com. It reported full-year revenue of €110.1m for 2022, up 7 per cent from €102.8m. Q4 revenue was up 15 per cent at €27.4m.