The lottery casino accounts for one third of Catena Media's casino revenue, and the group's CEO Manuel Stan emphasizes his belief that the industry will continue to grow.
The company stresses that the growth of the casino "reflects its proactive action plan" as it pursues the expansion of social lottery casinos.
The company has updated investors on the latest developments, indicating that focusing on lottery casinos is crucial for its growth as it aims to reverse the overall revenue decline, a sentiment that is undeniable.
Stan detailed that lottery activities are the fastest growing vertical in the company, and he believes they are "fully capable of leveraging the industry's growth."
He added: "Our products focus on developing the sweepstakes vertical. I think this is twofold. Currently, we believe the sweepstakes vertical is one of the fastest growing verticals in the entire industry, and we have leveraged this. But at the same time, we are preparing for post-regulation in larger states in the US, and we will be able to build a database around our brands to utilize this advantage when implementing regulations in states like California and Texas."
Catena's CFO Michael Gerrow also emphasized that continuous investment in the group's technology platform, artificial intelligence, subsidiaries, and paid media can drive this growth.
Since Google's policy update in May, its operator's own websites have recovered, and their traffic has also increased.
The high focus on lottery activities is part of the company's enhanced strategy, as detailed by Stan, with the addition of new leadership and the upcoming new chief legal advisor in the next few weeks, Catena will adopt a transformation strategy.
