Catena Media is expanding its strategic assessment to encompass all of its European online gaming and gambling ventures. They’ve declared they will initiate redundancy discussions in the UK and Malta.
Catena Media initially commenced reviewing specific segments in May, including AskGamblers and their financial trading unit. They were contemplating selling these units.
However, they have now made the decision to incorporate all of their remaining European betting assets into the review.
The company clarified that these operations have “encountered difficulties in recent years,” primarily due to regulations in markets such as the UK, Netherlands, Germany, and Sweden. The latter three have implemented nationwide programs to regulate online casinos in recent years.
Catena Media stated, “Broadening the strategic review is intended to evaluate the effectiveness of Catena Media’s European operations and to enhance the group’s concentration on high-profit opportunities in the area.”
This maneuver is all about liberating resources and seizing those rapidly expanding business prospects in North America, Asia-Pacific, and Latin America. It’s all about amplifying value for the organization and its stakeholders.
As part of this examination, the company has commenced discussions with individuals regarding potential workforce reductions in the UK and Malta.
The company is aiming to conserve €5 million annually through the modifications they’re implementing. They’ll be divulging more specifics about their discoveries in September.
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