XLMedia’s Expanded Sports Betting Coverage Key to Strong First Half  

XLMedia’s Expanded Sports Betting Coverage Key to Strong First Half  

XLMedia, a performance publishing firm supporting online casino and sports betting brands, has said in a trading update that it estimates a revenue of $44.5 million in 2022, a 38 percent rise from 2021’s sales of $32.2 million. 

According to the corporation, the expectations are the consequence of successful deals over the last six months.

XLMedia

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US Sports Contributes 68% Of XLMedia’s Revenue

US Sports, the company’s newest vertical, was a huge success, accounting for 68 percent of the company’s total income, or $30,2 million. Compared to the previous year, sports in Europe and North America produced $34 million, a 191 percent increase from $11.7 million. 

According to XLMedia, the US Sports vertical was able to fully leverage on the country’s sports calendar due to new media agreements and newly opened regulated areas such as Kansas. Interestingly, the state was promptly sued for $25 million after introducing sports betting.

Following sports betting, the casino and bingo verticals of XLMedia’s gaming section accounted for $8.4 million. The forecasts indicate that gaming revenue has decreased from $12.5 million in 2021. Additionally, personal finances dealt a hit. According to projections, this portion will generate $800,000, which is much less than the $6.8 million generated over the same time in 2021. XLMedia intends to release its H1 report during the week of September 26. When discussing the downturn of the gaming industry, the firm noted that gaming revenues are projected to continue falling, despite the fact that “the market is exhibiting indications of stabilization.”

2021 was a prosperous year for XLMedia.

According to the financial report for the year 2021, XLMedia had a very successful year, full of smart acquisitions and profitable operations. 

According to the study, the overall income for 2021 was $66.5 million, a significant rise from 2020’s $54.8 million. The sports vertical outperformed all other divisions by generating $31.4 million in revenue. Compared to 2020, sports betting income increased by $11.3 million. The company’s operational profit was $3.9 million, whereas 2020’s operating profit was just $0.1 million. Personal finances contributed $8.7 million, while casino assets in Europe produced $23.2 million. Other legacy income reached $3,1,000,000.

In contrast to sports betting and personal finances, Europe casino assets and other legacy income decreased relative to 2020. Europe casino assets earned $31.7 million in 2020, with an additional $3.5 million in legacy revenue. The drop in casino operators is anticipated to continue in 2022, and the firm and its newly chosen CEO will need to work diligently and intelligently to surpass 2021.

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About Lou De Aguila

Lou Ramon Aguila is a contributor for Golden Casino News. He has a degree in BSBA Legal Management with great interest in high-profile legal cases involving sports personalities. An ultimate sports junkie, he covers just about everything in the sporting world with an emphasis on the NBA, NFL, and MLB. In his past time, Lou loves to read manga, watch anime and critique pro-wrestling matches.