XLMedia CEO, Stuart Simms, chaired the company's annual general meeting and discussed a “solid start” to the calendar year.
According to the CEO, the company has been supported by good performance in personal finance and European sports verticals.
Simms additionally believes XLMedia’s recent acquisitions in the US sports vertical have made up for the drop in revenue seen in its European casino assets.
He said: “The integration of our US sports assets is progressing well and is expected to add materially to group revenue for the current financial year and beyond.”
Interestingly, however, XLMedia expects revenues in the casino vertical to continue to decline even further as 2021 progresses.
“We expect this decline to be partially offset by the improving performance of both European sport and North American personal finance,” Simms added.
For the full year 2021, XLMedia expects to make between $65m and $70m in revenue, while in the medium term the affiliate expects to deliver year-on-year growth.
It also wants to reduce ongoing operating costs, to help bring operating margin levels to the amount experienced in 2019.
Simms added: “We continue to invest in the ongoing transformation of the business, including the systems and technology that underpin performance, to build an infrastructure platform which will support the anticipated growth in future years.
“This investment, and the additional operating costs associated with the recent acquisitions, will hold back profit progression in the current year.”
