Spurred on by sports betting’s expansion in the US, the company experienced a 21% rise in revenue year-on-year, up from 2020’s $54.8m.
Sports was responsible for almost half of XLMedia’s full year revenue, generating $31.4m, a nearly 178% increase.
This segment’s almost $20m revenue hike was enough to offset an over $8m drop from the company’s European casino assets.
Adjusted EBITDA, meanwhile, amounted to nearly $18m, up from 2020’s $12.2m. XLMedia further reported a full year operating profit of almost $4m, a significant increase over the prior year’s $100,000.
Julie Markey, XLMedia’s Interim-Chair, commented: “In 2021, the group evolved its operational capabilities – upskilling and realigning our global workforce to better match strategy and generate new future growth.
“I’m proud of our people for driving through a period of significant change including having to navigate continued restrictions relating to the Covid pandemic.
“The business is becoming more agile and responsive so that it can fully exploit new opportunities.”
Based on the company’s progress in 2021, XLMedia said its current trading for 2022 is in line with management expectations.
What’s more, the company stated that North America is now “a key growth, profit and cash driver.”
“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 Stuart Simms, Chief Executive Officer at XLMedia.
“We set out to become a significant player in North American Sports – in line with our strategy to pursue high growth, large, regulated markets – we’re now in really good shape, with strong geographical coverage and capability, ready to fully exploit this significant market opportunity.”
