Global digital media company XLMedia has completed the sale of three European Gaming domains and related websites, including Casino.se, Casino.gr, and Casino.pt, to Beach Services for an upfront cash payment of $4 million. This strategic move allows XLMedia to strengthen its position in the North American sports and gaming market while maintaining its gaming division in other European markets.
Domain Sale Details:
XLMedia has successfully sold three of its European Gaming domains and related websites for a total upfront cash payment of $4 million.
The sale price represents approximately 4.7 times the revenue generated by these assets.
In the fiscal year ending on 31 December 2022, the assets produced $840,000 in revenue, contributing 6% of the Group’s European Casino revenue, with nearly $750,000 in gross profit.
Strong European Gaming Performance:
XLMedia will continue to operate its gaming division in Sweden and other European markets where it has experienced strong performance that exceeds management expectations.
In 2022, European casinos generated a total of $14.3 million in revenue.
Focus on North American Expansion:
The proceeds from the sale provide XLMedia with increased working capital to make further investments in expanding its presence in the North American sports and gaming market.
The company is strategically positioning itself to capitalize on opportunities in the growing North American iGaming industry.
Personal Finance Affiliate Sites Sale:
In addition to the gaming domains, XLMedia has also sold personal finance affiliate sites to MPD Media for $1.3 million, further bolstering its financial position.
North American Growth Strategy:
XLMedia aims to continue growing its footprint in North America, focusing on sports betting and iGaming opportunities.
The company has recently extended its partnership with Schneps Media, a deal that includes managing relationships with licensed sportsbooks and providing sports betting content.
Educational iGaming Content Platform:
As part of its partnership with Schneps Media, XLMedia will establish an educational iGaming content platform on amNY.com to cater to the growing demand for informative iGaming content.
XLMedia’s sale of European Gaming domains for $4 million provides the company with the resources needed to further expand its presence in the North American sports and gaming market. With a strong European gaming division and strategic partnerships, XLMedia is well-positioned to capitalize on the evolving landscape of the iGaming industry.