REG - XLMedia PLC - Sale of Three European Casino Assets

XLMediaAnnouncement

12/07/2023 07:00

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RNS Number : 7079F  XLMedia PLC  12 July 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.

 

12 July 2023

XLMedia PLC

("XLMedia" or the "Company")

 

Sale of Three European Casino Assets

 

Upfront payment of $4 million represents a 4.7x multiple of revenue

 

XLMedia (AIM: XLM), a leading global digital media company, today announces
the sale of three of the Group's European Gaming domains and associated
websites, Casino.se, Casino.gr, and Casino.pt for a total upfront cash
consideration of $4.0 million, representing a 4.7 times multiple on revenue
(the "Sale").

 

In the year ended 31 December 2022, the assets relating to
the Sale generated revenues of $840,000, 6% of the Group's European Casino
revenue, with a gross profit of approximately $750,000. Total European
Casino revenues in 2022 were $14.3 million.

 

The Group will continue to operate its Gaming business in the Swedish and
other European markets. At present, the performance of the Group's European
Gaming business is tracking marginally ahead of management expectations.

 

The cash generated from the Sale of these assets to Beach Services provides
the Group with additional working capital and funds further investment to
drive the expansion of XLMedia's North American Sports and Gaming footprint
and advance its EU portfolio.

 

The Board is pleased to be able to realise further substantial value from the
Sale, having recently also completed the sale of the loss-making Personal
Finance business for $2.05 million.

 

 

 

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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