Catena Media has confirmed the appointment of experienced US sports betting executive and investor Sean Hurley to its board of directors.
Hurley will sit on the board as a non-executive director advising the future strategy of the affiliate firm as it continues to shift its focus on the US sports betting and casino industry.
Boasting 13 years of industry experience, Hurley is based in the US and has prior experience of being an executive, advisor and angel investor in the space. He has held senior roles in the online sports betting and casino space with B2B suppliers, affiliates and operators.
Hurley stated: “Catena Media has entered an exciting new phase in its development and has a promising future ahead. I am delighted to have been asked to contribute my expertise as the company moves forward and further strengthens its position as a leading affiliate in North America.”
The appointment has been made subject to necessary filings with the Malta Business Registry per local laws on the island nation which Catena Media is headquartered. Laws also stipulate that his term will run until the next AGM.
Hurley comes into the boardroom to replace Per Widerstrom who has departed to take the CEO role at international operator 888. He also provides significant US experience to the firm which is seeking success in the region in the wake of its strategic review.
84% of corporate revenues is now made from North American operations, per Catena’s Q3 report. However, revenue from the region declined 29% YoY in Q3 due to the transition from majority CPA contracts with operators to new, revenue share deals. The firm stated that agreeing to rev share deals will help grow revenue long-term given the higher value nature of those agreements.
CEO Michael Daly told investors: “This rebalancing will secure a more sustainable revenue inflow over time but creates a negative short-term revenue impact as the volume of upfront CPA payments is reduced. This may require a potential review of our financial targets, but we expect the shift to contribute to higher total revenue per new depositing customer.”
