XLMedia Goes Large in FY21
Just as its name implies; iGaming Affiliate XLMedia has had a super-sized FY2021, with net profit rocketing by an astonishing 610 per cent, year-on-year, to US$5.6 million (£4.27m/€5.06m).
XL’s revenue for the year, ending December 31, surged some 25 per cent to US$66.5 million (£50.7m/€60.2m).
The Jersey, Channel Islands-based company, with head offices in London, said its success was spurred by major growth in sports betting in North America.
“We’ve made great progress in North America during 2021, alongside delivering important organisational changes to both rationalise and ring-fence legacy areas of our business,” said XLMedia Chief Executive Stuart Simms.
“We set out to become a significant player in North American sports — in line with our strategy to pursue high growth [in] large, regulated markets. We’re now in really good shape, with strong geographical coverage and capability, ready to fully exploit this significant market opportunity.”
Although its European casino revenue dropped nearly 27 per cent, year-on-year, to US$23.2 million (£17.69m/€21m), XLMedia’s total sports betting revenue during 2021 hit US$31.4 million (£23.9m/€28.4m) – a 178 per cent gain on FY/20.
This was boosted by the affiliate’s strategic US sports gaming and betting acquisitions, among them: CBWG Sport and website Sports Betting Dime.
XLMedia’s personal finance vertical, meanwhile, had a more modest growth of just under four per cent, with revenue reaching US$8.7 million (£6.6m/€7.8m).
In all, the group–which owns and operates more than 2,000 websites across gambling, sports betting and personal finance, working with a veritable host of top betting players, including bet365, Betsson, DraftKings, FanDuel way, Ladbrokes and William Hill–recorded full-year net profit of US$5.6 million (£4.27m/€5.06m), compared to US$792,000 (£603,890/€717,000) in FY2020.
Next year, no doubt, XL plans to step up yet another size.