The global publisher has released an update detailing its expected financial results for the 12-month period to 31 December 2021.
Highlighting an especially strong performance from its sports vertical, XLMedia’s anticipated revenue for the full year has grown by more than 21% from 2020’s $54.8m.
Of its total revenue, over 37% came from the group’s sports segment, which generated $25.2m. This is up 123% from the prior year, when it recorded $11.3m.
According to XLMedia, its sports vertical was “buoyed by two US sports acquisitions and a number of publishing partnerships.” Overall, the group’s North American footprint covers 15 states, and it is looking to expand further as more launch legal sports betting markets.
“Continued progress has been made rationalising and reorganising the company to further capitalise on the North American market opportunity and to materially reduce risk from legacy areas of the business,” said XLMedia.
“This initiative is well advanced, with additional costs to be incurred until mid-2022 as expected.”
However, on the other side of the Atlantic, XLMedia experienced a decline. Its European casino assets generated $23.2m in revenue, down 27% from 2020’s $31.7m.
This area, the group said, “will continue to face trading pressures as tail revenues decline further.”
XLMedia also highlighted regulatory changes that will negatively impact its Finnish casino assets in the coming year.
And looking forwards, the company expects its US sports vertical to continue to deliver strong growth, but stated this will be partially offset by the “managed decline” of its European casino vertical and restructuring of its personal finance vertical.
