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The global leader in generating high-value leads for online casino and sports betting operators and leading marketing affiliate, Catena Media, announced it has seen strong growth following the launch of legal sports betting in Ohio. The company explained Wednesday it saw an all-time-high revenue from player registrations in the state.
Ohio became the latest US state to launch sports betting. Although the legalization of the activity happened back in December 2021, it wasn't until January 1 this year, that Ohio introduced legally regulated sports wagering activities.
The launch of sports betting delivered a strong performance, judging by Catena Media's preliminary results. The company explained in a statement that it has seen significant player engagement in Ohio which surpassed the company's online sports wagering affiliation results from New York from January 2022, when the state launched sports betting.
According to Catena Media, in Ohio, for the first two days of the market launch, it reported more transactions than any other US state. The company acknowledged that this trend may not happen in the future but still it identified Ohio as one of the major US markets.
Enjoying strong performance following the launch of legal sports wagering in Ohio, Catena Media confirmed that those results propel it to a leadership position for the action-packed first quarter. At the same time, the company reaffirmed it is ready for the busy sports season, considering the upcoming March Madness and Super Bowl.
Currently, Ohio is the seventh most populous US state with 12 million residents. What's more, the state is the fourth largest in terms of population where Catena Media operates. The leading marketing affiliate company currently has affiliate operations in place in Ohio via popular brands such as TheLines.com, Lineups.com, the regional PlayOhio.com and LegalSportsReport.com, among others.
Focusing on the bigger picture, Catena Media is offering its leading services to more than 20 different states and provinces in North America. As of September 30, 2022, the company's revenue for the last 12 months from North American operations was approximately €80m ($87m), marking 33% growth. Moreover, the company's adjusted EBITDA margin for the period was 43%.
Ryan Harper, Catena Media's Vice President North America, shared his excitement about the latest results in Ohio saying: "This is, without doubt, our strongest state sports betting launch period to date."
He added: "We're delighted to see strong traffic on our websites in relation to the Ohio launch." Finally, Harper acknowledged that the customers' engagement with licensed sports betting operators soared.