XL Media PLC’s revenue is growing with US sports

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""US Sports"" – Google News

XLMedia, a digital performance publisher, said it was on track to meet predictions this year after revenues rose 16% in the first half.

Revenue rose from $ 27.7 million to $ 32.2 million in the six months ended June, while underlying earnings rose from $ 5.1 million to $ 6.6 million. Dollars rose.

For the full year, XL still expects revenue between $ 65 million and $ 70 million driven by US Sports and what it’s known as the reinvigorated casino business, although operational changes this year will be more costly than before budgeted.

Broker Cenkos said the accelerated platform switch aims to diversify revenues, improve the business mix and reduce operating costs.

Most of this transition is expected to be completed by the summer of 2022 in time for the seasonally important fourth quarter for US sports betting, the broker added.

“The changes across the company will result in extraordinary costs in our projections, but tangible benefits should be felt from the 2nd half of 2022E.”

XL also announced the acquisition of BlueClaw for £ 1.8m in cash (roughly 1.5 times sales), of which £ 0.6m will be due upon completion, a next year increment of 0, 6 million GBP and an earn-out.

“Blue Claw, based in Leeds, is a profitable search engine optimization and digital marketing agency with data-driven marketing skills,” said Cenkos.

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