REG - XLMedia PLC - AGM Statement

XLMediaAnnouncement

26/05/2023 07:00

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RNS Number : 7208A  XLMedia PLC  26 May 2023

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014. Upon the publication of this announcement, this
information is now considered to be in the public domain.

26 May 2023

XLMedia PLC

("XLMedia" or the "Company")

 

 AGM Statement

 

XLMedia (AIM: XLM), a leading global digital media company, will be holding
its Annual General Meeting at 9.00 a.m. this morning. David King, Chief
Executive Officer of XLMedia plc, will make the following comment on trading
at today's meeting:

 

"In the US, we saw a strong start to Q1 with the launch of online sports
betting in Ohio. However, as seen elsewhere in the market, H1 2023 revenues
are inevitably going to be below the prior comparator period of H1 2022, which
benefited from the much-anticipated launch of online sports betting in New
York. The launch of online sports betting in Massachusetts in mid-March, after
the NFL season ended, while solid, did not see the spike in revenues normally
seen on a state launch.

 

"We also note that the level of acquisition spend by operators in H1 2023 is
not comparable to 2022, with less generous promotions available to attract new
customers. This reflects our previous acknowledgement that growth in the US
market will not be linear, with significant spikes generated by periodic state
launches, however we continue to expect to be in line with our expectations
for the full year.

 

"We expect the current softness in the market to continue across the early
summer, with a return to significant investment in customer acquisition, and
the launch of new products commencing in the run up to the new NFL season
bolstering the second half of the year.

 

"We also see further opportunity in Massachusetts as the NFL season starts and
are anticipating the launch of online sports betting in Kentucky.

 

"Looking longer term, we can expect to see many more US states legalise online
sports betting and online casino. 23 states are yet to legalise online sports
betting, including California, Georgia and Texas, three states are legal but
not yet operational, including Florida, and 43 states are yet to legalise
online casino.

 

"Across European Sport and European Gaming, performance is tracking in line
with management expectations benefiting from a strong Cheltenham and Aintree
festival, and we expect this encouraging performance to continue."

 

The Company confirms it will issue a trading update on performance in the
first six months of the year in late-July.

 

 

For further information, please contact:

 

 XLMedia plc

 David King, Chief Executive Officer                          ir@xlmedia.com (mailto:ir@xlmedia.com)

 Caroline Ackroyd, Chief Financial Officer                    via Vigo Consulting

 www.xlmedia.com (http://www.xlmedia.com/)

 Vigo Consulting                                              Tel: 020 7390 0233

 Jeremy Garcia / Fiona Hetherington / Kendall Hill

 www.vigoconsulting.com (http://www.vigoconsulting.com/)

 Cenkos Securities plc (Nomad and Broker)                     Tel: 020 7397 8900

 Giles Balleny / Max Gould

 www.cenkos.com (http://www.cenkos.com/)

 

About XLMedia:

XLMedia (AIM: XLM) is a leading global digital media company that creates
compelling content for highly engaged audiences and connects them to relevant
advertisers.

The Group manages a portfolio of premium brands with a primary emphasis on
Sports and Gaming in regulated markets. XLMedia brands are designed to reach
passionate people with the right content at the right time.

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