Catena Media predicts operating profit dent as German assets incur impairment charge

Affiliate “adjusts European business to new market realities” resulting in €49.4m write-down on previously acquired sports betting sites

Catena Media has warned Q3 operating profit will be negatively impacted by a non-cash impairment of intangible assets, resulting in an estimated write-down of €49.4m (£41.7m). Approximately €43m of the write-down relates to German sports betting assets the affiliate acquired between 2016 and 2018, which have since decreased in value due to the online gambling…

Affiliates | Catena Media | Finance | France | Germany | Sports betting | US