BEST OF THE BROKERS

first_img BEST OF THE BROKERS Show Comments ▼ Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Monday 21 March 2011 8:10 pm Share whatsapp Tags: NULL KCS-content COMPUTACENTERJP Morgan Cazenove rates the IT infrastructure provider “overweight” and has raised its target price from 345p to 480p following results last week. The broker has raised its revenue forecast by 13 per cent for 2011 to £2.97bn for the year, giving a pre-tax profit of £77m. It expects a steady growth trajectory for IT investment in the UK, Germany and France as confidence continues to grow.STANDARD CHARTEREDCitigroup rates the bank “buy / medium risk” with a lower target price of £22, down from £22.50, to reflect the UK bank levy. The broker has cut its targets in line with lower trading multiples among Standard Chartered’s peers, but thinks its recent sell-off creates an opportunity to buy a growth stock at a lower multiple. The broker notes the bank’s recent pledge to deliver double-digit growth in 2011.MAN GROUPCredit Suisse rates the asset manager “neutral” but has cut its target price from 290p to 250p. The broker has also reduced its forecast for assets under management by $100m to $69.8bn for the end of March, based on a decline in the AHL division during the last quarter and the broader impact of subdued markets on long investment positions alongside poor hedge fund returns in recent weeks. whatsapplast_img read more

Japan car sales fall 35 per cent in March

first_img Show Comments ▼ Japan car sales fall 35 per cent in March Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Today Car sales in Japan excluding 660cc minivehicles dropped 37 per cent in March from a year earlier led by a 46 per cent slide at Toyota as the market feels the effects of the devastating earthquake and tsunami on March 11.Nissan’s Japan sales slumped 38 per cent and Honda fell 28 per cent. The figure for Toyota excluded the Lexus brand.Overall vehicle sales including minivehicles fell by 35.1 per cent in March, the Japan Automobile Dealers Association has said.The latest numbers give the first indication of how Japan’s carmakers are faring in their home market after the catastrophes devastated northeast Japan and triggered power outages and the worst nuclear crisis since Chernobyl.Many of Japan’s auto plants are closed in the wake of the disaster, unable to get parts from suppliers.All but two of 18 factories that assemble Toyota and Lexus vehicles in Japan remain idle. Tags: NULL alison.lock center_img Share Friday 1 April 2011 2:49 am whatsapp whatsapp last_img read more

Portugal’s bond yields near 10pc as investors price in EU bailout

first_img Portugal’s bond yields near 10pc as investors price in EU bailout Monday 4 April 2011 8:21 pm whatsapp KCS-content Show Comments ▼ by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesDrivepedia20 Of The Most Underrated Vintage CarsDrivepediamoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald Sharecenter_img Tags: NULL PORTUGAL’S cost of borrowing surged to almost 10 per cent yesterday as investors priced in an expected international bailout.The yield on Portgual’s five-year bonds rose to 9.91 per cent yesterday, higher than the yield on Ireland’s bonds when it was bailed out last November. Eurozone finance ministers will this week discuss Portugal’s options to solve its debt problems under a caretaker government, including whether it is capable of requesting EU financial aid, a Eurozone source said.Finance ministers from the 17 countries using the euro meet on Friday in Budapest for informal talks, which will also include the economic situation in other Eurozone countries hit by the sovereign debt crisis – Ireland and Greece.Given the unsustainably high cost of financing on the market for Lisbon, some Eurozone countries have pressured Portugal to seek a programme of financial assistance from the EU and the International Monetary Fund, like Dublin and Athens have. But Jose Socrates’ government has repeatedly rejected that possibility, and it is unclear what powers the caretaker goverment would have before new elections on 5 June. Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof whatsapplast_img read more

Quercus flies thanks to Larsson

first_img by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNinjaJournalist25 Cute Baby Animals That Will Melt Your HeartNinjaJournalistMuscular Atrophy | Search AdsSMA Signs – Symptoms May Surprise ManyMuscular Atrophy | Search AdsDidUKnowUnsold 2018 SUVs Now Almost Being Given Away: See PricesDidUKnowHero Wars This game will keep you up all night! Hero Wars LifeStyle ChatterDiver Finds Old Planes At Bottom Of Pacific, Then Gasps When She Takes A Closer LookLifeStyle ChatterWorldtravellingThese Are the Most Expensive Cars from Film and TV Ever SoldWorldtravellingHealth.recetasget10 Disturbing Things Your Nails Reveal About Your HealthHealth.recetasgetTotal Battle: Tactical War GameIf You’re Over 30 And Own A Computer This Game Is A Must-Have!Total Battle: Tactical War GamePsoriatic Arthritis | Symptoms of Psoriatic Arthritis (Some May Be Surprised)Psoriatic Arthritis | Quercus flies thanks to Larsson Show Comments ▼ Read This NextWATCH: Shohei Ohtani continues home run tear, Los Angeles Angels winSportsnautYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofWhat to Know About ‘Loki’ Ahead of Disney+ Premier on June 9Family ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofBaked Sesame Salmon: Recipes Worth CookingFamily Proof’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULL whatsapp whatsappcenter_img Tuesday 5 April 2011 7:28 pm Share Quercus, the independent publisher behind Girl With The Dragon Tattoo, yesterday announced an eight-fold surge in profits to a record £7.5m. Quercus chief executive Mark Smith is building on the success of Stieg Larsson’s books – known as the Millennium Trilogy. Smith, who co-founded Quercus in 2004, is paying a first-ever dividend of 5p and a further one-off dividend of 7p. He has also signed up Susan Watt, the HarperCollins publishing director who commissioned Jeremy Paxman, Boris Johnson and Conn and Hal Iggulden’s Dangerous Book For Boys, to launch her own Quercus imprint, Heron Books. The company is taking on 40 more staff. KCS-content last_img read more

Maths skills secret to rise in FTSE ranks

first_img Tags: NULL whatsapp Maths skills secret to rise in FTSE ranks More From Our Partners Brave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org whatsapp A BACKGROUND in finance is becoming the best route to landing a chief executive’s job at a blue chip firm, according to findings from this year’s Robert Half study of FTSE 100 chief executives.Nearly half (49 per cent) of serving chief executives in the current FTSE 100 Index have financial backgrounds – such as an accountancy qualification or experience as a finance director – according to the report. That compares to just 31 per cent in 2008.Of the nine FTSE 100 chief executives who have been appointed over the past year, six have financial backgrounds, including Andrew Harrison of Whitbread and Nicandro Durante of British American Tobacco, who have both held the position of finance director at some stage.“We are seeing an increasing demand for leaders with a strong financial skill-set to guide organisations through a challenging operating environment and drive competitiveness so they emerge a stronger, more capable business,” said Phil Sheridan, managing director for Robert Half UK.“This renewed significance in fiscal expertise reflects the increasing regulatory environment and need for accountability for the numbers behind the business.”While the majority of chief executives are British nationals, the remaining leaders come from a wide range of countries, including the United States, Mexico, Syria, India and South Africa.OXBRIDGE GRADS | SIR MARTIN SORRELLSir Martin Sorrell, chief executive of advertising giant WPP, is one of just over a fifth of the FTSE 100 chief executives who attended either Oxford or Cambridge university. With a two per cent rise on last year, 21 per cent of current chief executives studied at Oxbridge, including Chris Grigg of British Land (Cambridge) and Stephen Hester of the Royal Bank of Scotland (Oxford).WOMEN ON TOP | ANGELA AHRENDTSAlthough the days of City firms requesting “a 35 year-old man” are over, the number of women making the top position has remained unchanged from 2010. There continues to be four female CEOs in the FTSE 100. The four top women are Angela Ahrendts from Burberry, Dame Marjorie Scardino from Pearson, Katherine Garrett-Cox from Alliance Trust and Cynthia Carroll from Anglo American.THE YOUNG ONEs | OLEG NOVACHUKThe youngest FTSE 100 chief executive is Oleg Novachuk who runs the copper mining company Kazakhmys at just 39 years old. The number of chief executives under the age of 45 has increased from four per cent to six per cent over the last year. The younger professionals working their way to the top include Greg Hawkins of African Barrick Gold, 41, and David Atkins of Hammerson, 44.TITLED LEADERS | DAME MARJORIESeven of the FTSE 100 chief executives hold titles, including Dame Marjorie Scardino of media and publishing company Pearson, Sir Bill Gammell of Cairn Energy and Sir Kevin Smith OBE of GKN. Another titled leader is WPP boss Sir Martin Sorrell, who also holds the accolade of longest-serving FTSE 100 chief executive, having held the top spot for almost 25 years. Share KCS-content Tuesday 26 April 2011 7:59 pm Show Comments ▼last_img read more

Minnesota to consider remote sports betting bill

first_img Minnesota to consider remote sports betting bill 4th March 2019 | By contenteditor Subscribe to the iGaming newsletter Regions: US Minnesota Minnesota’s Senate Tax Committee will this week discuss a new bill that would legalise online, mobile and in-person sports wagering in the state. Tags: Mobile Online Gambling Minnesota’s Senate Tax Committee will this week discuss a new bill that would legalise online, mobile and in-person sports wagering in the US state. Sponsored by a cross-party group of senators, bill SF1984 would establish the Minnesota Sports Wagering Commission to regulate the market. Consumers would be able to place bets on professional and collegiate sporting events, but wagering on virtual events would not be permitted in the state. Any person over the age of 18 would be able to place legal wagers. The new Commission would take responsibility for awarding licences, with operators to be taxed on 6.75% on their sports wagering net revenue. However, the bill did not state how much the sports betting licences would cost under the new regulations. Language in the bill refers to a fee, but, at present, it does not include an exact figure. Licences would permit operators to conduct sports betting at racetracks and on tribal land, as well as via a website or mobile application. The bill also allows for operators to enter into third-party agreements to offer such services. The bill does not clarify whether consumers would need to be located at a licensed facility in order to place a mobile or online wager, or whether this would be possible from anywhere inside Minnesota. The Minnesota Senate Tax Committee is due to debate SF1984 at a hearing on March 7. Should it progress into law, the bill would become effective from September 1, 2020. Last month, Representative Pat Garofalo put forward a bill that would legalise sports betting at tribal casinos in the state. As is the case with SF1984, Garofalo’s Safe and Regulated Sports Gambling Act of 2019 would create the Minnesota Sports Wagering Commission to regulate the market. The bill would permit in-person sports wagering at casinos runs by recognised tribes in Minnesota, while consumers would also be able to place bets via mobile and other electronic devices on-site. The bill requires any mobile app to block access to consumers if they are more than 20ft away from a tribal property.Image: Tony Webster Casino & games Topics: Casino & games Legal & compliance Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

New Zealand sets protection focus with new advertising code

first_img Topics: Casino & games Legal & compliance Marketing & affiliates Sports betting Bingo Poker Horse racing New Zealand’s Advertising Standards Authority (ASA) has published a new code for gambling adverts in the country, with a focus on protecting children, young people and other vulnerable people from gambling-related harm. New Zealand sets protection focus with new advertising code AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Oceania New Zealand 11th April 2019 | By contenteditor Bingo New Zealand’s Advertising Standards Authority (ASA) has published a new code for gambling adverts in the country, with a focus on protecting children, young people and other vulnerable people from gambling-related harm. The new code applies to ads for gambling products and venues, as well as betting on racing or sports events. It has been developed by the ASA Codes Committee, with input from advertisers, agencies and representatives of media companies and public bodies, and in consultation with industry and public sectors. The code will come into effect on August 5, 2019, although operators will have until November 4 to ensure their ads comply with the new code. “Reviewing and updating the Codes is an important part of the ASA’s work and it is great to have the new Gambling Advertising Code in place to support responsible advertising to consumers,” ASA chief executive, Hilary Souter said. The code sets out how all gambling ads should be created with a high standard of social responsibility to both consumers and society as a whole. No gambling ad should purposely target children under the age of 14 or young people aged up to 18. As such, operators should ensure their ads do not feature content that may appeal to younger people, while both the time and location where ads are placed should be taken into account so as not to appear most before children and young people. The code also states gambling ads must not portray or represent anything that will, or is likely to, cause, condone or encourage harm from gambling activities. This includes not promoting gambling as a means of relieving or improving a person’s financial, professional or personal difficulties. Ads should not misrepresent the level of financial risk associated with gambling, nor state or imply a promise of winning or portray unrealistic outcomes from winning. In relation to this, a section in the code sets out how operators must ensure ads do not mislead or be likely to mislead, deceive or confuse the customer about their trust or exploit lack of knowledge. This covers issues ranging from implications, inaccuracies and ambiguity to exaggerations, unrealistic claims, omissions and false representation. The ASA advises that adverts must not make claims about the chance of winning unless they are factual and able to be proven, exaggerate the chance of winning or the size of the prize, or falsely imply that a customer’s skill can influence the outcome, unless this is actually the case. All adverts must include the terms and conditions or a reference to where they can be found, while these must be easily understood and not contradict the ad content. Email Address Subscribe to the iGaming newsletter Tags: Card Rooms and Poker Online Gambling OTB and Betting Shops Race Track and Racinolast_img read more

Apple extends native app deadline by six months

first_imgLegal & compliance 12th September 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Apple has granted developers an extra six months in which to ensure their apps are updated to be fully native to iOS.Gambling app developers now have until 3 March, 2020 to develop iOS apps, rather than HTML5 products hosted within a native wrapper. After this date, all non-native apps will be removed from the technology giant’s App Store.The announcement was made days after the original deadline, set in June, passed on 3 September.In June, Apple amended its App Store review guidelines to announce that any product not built purposefully for its operating system “may not provide access to real money gaming, lotteries, or charitable donations, and may not support digital commerce”.This caused a potential headache for the gambling industry, with the majority of iOS apps built as ‘container apps’ where an iOS frame is built around an HTML5 product. This practice has been widespread in the industry, as it is less expensive and time-consuming to develop.At the time, Betfred-backed digital marketing specialist Degree 53 warned that building a fully native iOS app in just three months was “a massive undertaking and potentially unrealistic”.“It will require sizable and skilled native development teams to ensure all functionalities are fully compliant,” Degree 53 explained.Businesses that fail to develop iOS apps by the deadline not only face their apps being withdrawn from the App Store, but are also likely to see Apple reject updates to non-compliant apps. It is also likely that customers will be unable to download updates to products already installed on their phones. Subscribe to the iGaming newsletter Apple extends native app deadline by six monthscenter_img Tags: Mobile Apple has granted developers an extra six months in which to ensure their apps are updated to be fully native to iOS. This follows its announcement in June that gambling apps built with a native wrapper holding an HTML5 product would no longer be hosted in its App Store. Topics: Legal & compliance Tech & innovation Email Addresslast_img read more

Svenska Spel rolls out Verisec’s ID technology

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Svenska Spel rolls out Verisec’s ID technology Email Address Sweden-facing gambling operator Svenska Spel has launched Verisec’s Freja eID technology as part of an effort to enhance its customer identification processes.Svenska Spel agreed a deal in May to begin using Freja eID and has now integrated the solution across its Svenska Spel Tur and at Svenska Spel Sport & Casino platforms.Customers had previously been referred to a single e-ID, but the introduction of Freja eID will mean that players are no longer locked to a specific login method.Under new laws that came into effect in Sweden in January, licensed operators active in the country are required to use an e-ID to register customers in order to clarify their age and identity.“Most companies that digitise their services put considerable resources on good user experience and to eliminate eventual friction for users who want to access the digital service,” Verisec’s chief executive Johan Henrikson said. “Thus, not keeping users locked to a specific sign-in solution is an important step.“We believe that this is not only positive for the users, we also believe it is a strong competitive factor in that Svenska Spel is the first gaming company with a gaming license that offers its users more than one e-ID.”Svenska Spel has, on numerous occasions, stated its commitment to increasing the protection of its customers. This week, Svenska Spel’s chief executive Patrik Hofbauer declared his support for plans to introduce a ban on select betting markets in Sweden in order to help clamp down on match fixing in sport.The operator this month also published a new report that suggested player protection measures must now be tailored to different age groups, and that mandatory limits are more effective than voluntary in ensuring players can gamble safely. Regions: Europe Nordics Sweden Tech & innovation Topics: Tech & innovation 16th October 2019 | By contenteditor Sweden-facing gambling operator Svenska Spel has launched Verisec’s Freja eID technology as part of an effort to enhance its customer identification processes. Tags: Online Gambling Subscribe to the iGaming newsletterlast_img read more

Catena Media posts full-year loss of €10.5m for 2019

first_img20th February 2020 | By contenteditor Tags: Online Gambling Affiliate marketing giant Catena Media has reported a full-year loss of €10.5m (£8.8m/$11.3m) for 2019, primarily due to impairment charges related to assets acquired between 2016 and 2018, while all core business units struggled in the period. Catena Media posts full-year loss of €10.5m for 2019 Topics: Finance Marketing & affiliates Email Addresscenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Affiliate marketing giant Catena Media has reported a full-year loss of €10.5m (£8.8m/$11.3m) for 2019, primarily due to impairment charges related to assets acquired between 2016 and 2018, while all core business units struggled in the period.Revenue for the 12-month period through to 31 December 2019 amounted to €102.8m, down 2.1% from €105.0m in the previous year.Catena noted a 1.8% year-on-year decline in search revenue from €89.9m to €88.3m, while paid revenue also dropped 15.0% to €11.9m and subscription revenue 57.7% to €2.6m.The affiliate giant said revenue share arrangements were responsible for 43% of total revenue for the year, with 40% attribute to cost per acquisition revenue, 15% from fixed fees and 2% from subscriptions. Catena also noted that around 81% of revenue was generated in locally regulated or taxed markets.In terms of spending, Catena has issued a warning earlier this week that higher costs related to certain areas of the business would likely impact its full-year financial performance.Total operating expenses amounted to €108.5m, an increase of 64.9% on 2018 as Catena felt the impact of various additional costs. Direct costs were up 4.6% to €13.6m, while personnel expenses climbed 18.8% to €22.8m, and depreciation and amortisation spend jumped 62.1% to €14.1m.However, Catena said impairment costs on intangible assets totalled €32.1m. As the business noted earlier this week, this write-down was related to assets acquired between 2016 and 2018.These impairment costs included a write-down of €17.9m related to intangible financial assets that are primarily focused on the European Union, as well as €13.2m related to casino assets acquired in 2016, and €900,000 in reference to assets in the sports market.Exceptional costs also included €2.7m for loss allowances on trade receivables, as well as €2.0m for a refinanced bond, and further spending on credit facility and reorganisation costs.Significantly higher operating costs, coupled with the decline in revenue, meant Catena posted an operating loss of €5.7m for the year, compared to a profit of €39.1m in 2018.Loss before tax amounted to €10.3m, down from a profit of €33.1m in 2018, and after paying €178,000 in taxes, loss for the year stood at €10.5m, a stark contrast to €30.8m in profit in the previous year.“As the efforts we have put into our products now show a positive growth trend, we also saw challenges with some of our previously acquired assets not performing as planned,” Catena’s chief executive Per Hellberg said.“In our strategic review, operational efficiency programmes and evaluations of previously acquired products, we are writing down the value of certain assets acquired in the period 2016-2018, which simply can’t perform under today’s market conditions.“Now, with only two earn-out commitment to be settled, and with a strong operating refinancing of the company; we will communicate further details as soon as we have information to give.”In terms of the fourth quarter, during which most of the additional spending took place, revenue was down 2.6% to €26.6m, with year-on-year declines across search revenue, paid revenue and subscription revenue.Q4 operating expenses amounted to €53.8m, up 200.6% on the previous year, which contributed to an operating loss of €27.3m, compared to a profit of €9.4m in 2018. Loss before tax totalled €32.2, in contrast to a profit of €13.1m last year, while loss after tax stood at €31.1m, down from a profit of €12.4m in 2018.“We will continue to execute on our strategy to focus on few brands, invest in new markets, and continue our focus on cost control,” Hellberg said. “We are prepared for continued improvements in 2020 and beyond.” Finance Subscribe to the iGaming newsletterlast_img read more