iGB-Affiliate-Monitor_OCTOBER-2021 - Page 24

XLMEDIA FIRST HALF REVIEW

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Affiliate Monitor Company-by-company review : XLMedia igamingbusiness . com
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XLMEDIA FIRST HALF REVIEW
SATURDAY BOYS
XLMedia ’ s first half results showed the company perhaps mid-pivot as it attempts to wean itself off the revenues from casino-facing sites which have been hit hardest by the Google algorithm changes and towards more defined sports betting opportunities .
Group revenue was up 16 % year-on-year to $ 32.2m while adjusted EBITDA rose 29 % year-on-year to $ 6.6m and the company was able to maintain guidance of between $ 65- $ 70m for the full year . The business mix showed sports at 37 % of total revenues , up from 22 %, casino at 42 % ( down from 61 %) and finance at 21 % ( up from 17 %).
Moreover , XLMedia has been busy over the course of the first half in M & A terms . In March , the company bought the
Sports Betting Dime assets for $ 26m , including $ 11m upfront , while in August it laid out $ 24m for Saturday Football Inc ., the publisher of a number of Southeastern Conference-focused College football sites .
Meanwhile , in an attempt perhaps to better re-engineer its existing assets , the company also bought out BlueClaw , an SEO specialist , in a move that looks designed to help rectify XLMedia ’ s long standing Google issues . The company said the Leeds , UK-based firm would bring with it its experience in “ digital best practice ”.
The company needs the help ; in casino , revenues fell back by an unspecified amount to $ 12.5m . XLMedia said it was now focusing on driving revenues from a smaller number of profitable sites , hoping
“ XLMedia ’ s business mix showed sports at 37 % of total revenues , up from 22 %, casino at 42 % ( down from 61 %) and finance at 21 % ( up from 17 %)”
these will be more sustainable revenues . It is also working on plans to evolve its sites into multiterritory offerings rather than the previous strategy of single countryfocused sites . “ We continue to believe in the high quality of our premium casino assets relative to peers ,” the statement added .
iGB Market Monitor October 2021