Shape Games has formed a long-term agreement with one of the largest tribal operators in the US, the Choctaw Nation of Oklahoma.
The deal will bolster Choctaw Nation’s gaming and hospitality venues across Oklahoma with Shape Games’ range of front-end solutions, including customer engagement solutions that will support the operator in “delivering superior product journeys and user experiences”.
Martin Mouroux Dam, Managing Director at Shape Games, commented: “We are excited to begin working in close partnership with the Choctaw Nation, who have a clear track record in developing successful digital businesses while creating unforgettable gaming and sports betting experiences for their valuable customers.
“The agreement represents a real milestone for Shape Games, extending our presence in the Americas with a hugely recognizable and successful operator. Trust is paramount in tribal partnerships, and we look forward to delivering a best-in-class gaming experience promoting long term sustainable revenues for the Choctaw Nation.”
The Kambi Group-owned supplier will integrate its services into Choctaw Nation venues across the Sooner State that offer both sports betting and casino products.
Chris Scrivner, Executive Director of Gaming and Hospitality, Choctaw Nation of Oklahoma, added: “We are delighted to be enhancing our customer acquisition and retention capabilities in partnership with Shape Games.
“Shape Games’ commitment to offering seamless and engaging user experiences and proven delivery in both the sports betting and igaming spaces aligns with our own, making them an ideal partner as we continue our growth trajectory.”
Catena Media has announced it will be laying off 29 employees in advance of the Q3 trading call in an attempt to “streamline and rightsize” the content and marketing teams.
Looking ahead to the call on 7 November, the affiliate booked a non-cash impairment charge of €40m.
Catena cited the authorising of a writedown of “specific sports betting assets” for the impairment charge as it transitions to a new operating model.
As disclosed in H1 trading, Catena modified its remaining US media network, taking the “strategic decision to focus product development efforts on a cluster of core brands.”
Preliminary figures for the firm indicate that Q3 revenues will stand between €10.5-€11.0m (Q32023: €15m). Catena expects adjusted EBITDA to be in the range of €1.0-€1.5m (Q32023: €3.2m), corresponding to a margin of 10-14%.
CEO Manuel Stan commented: “It is important that our balance sheet reflects current realities. In sports betting, we have been operating at a loss for an extended period. We have responded to market challenges by shifting resources away from loss-making products and into those that we believe have the best potential to generate long-term value. I believe that this strategy will position us for success in the coming quarters.”
Staff redundancies will see Catena pay severance costs of approximately €400,000, with Catena projecting cost savings of €2.2m, effective from 1 November 2024.
Stan added: “As part of our drive to embed our new product-led organisation, we are optimising the operational teams to achieve a flatter structure that is more closely aligned with our product goals. Today, our priority is to support all the individuals who are affected by these changes.
“We are keenly aware that the market is looking for signs of a return to revenue growth. Although the figures reported today do not yet show that improvement, we see positive signals from the changes we have made in recent months, such as a leaner cost base and improved search rankings, and we remain on course to achieve our objectives.”
