The new focus on US betting has paid off for the company

The new focus on US betting has paid off for the company

As part of a larger restructuring effort, the structure of the divisions within the business have been changed.

Rather than a single sports betting vertical, the business split revenue into US and European sports. The US sports division generated more than five times the amount of revenue recorded in H1 of the previous year, with $30.2m.

The majority of this came from acquisitions such as Saturday Football Inc.

The opening of new regulated markets and the signing of new media partnership agreements has allowed the US Sports business to take advantage of the full US sports calendar, in particular the Super Bowl, and deliver strong growth in H1 2022, according to the XL board.

The European Sports division brought in $3.8 million, which the board described as “solid”.

Revenue was $8.4m in casino and gaming, an area that the business worked to restructure following regulatory challenges. The decline was in line with expectations, according to the business.

The business has suffered from a year-on-year decline in tail revenue, but is showing signs of stabilizing, the board said. The cost base of the business has been reduced to reflect the reduction in the scale of its activities and continues to be a cash generator for the group.

The revenue from the personal finance division of the company was $800,000 in the first half of the year, a decrease from the first half of the previous year. The board said that the business was working on a complete reorganization of the segment.

The business said that the decline was caused by the need to replace aging technology, re-examining marketing tactics and aligning with best practice. The management and production teams are based in the US division of the group, and the personal finance vertical is focused on completing the redesign and replatforming of its primary websites, with the objective of improving site performance and enhancing the consumer experience and stabilising revenues.

The company’s earnings before interest, tax, depreciation and amortisation came to $10.5m, which was up by 59.1% from the first half of the previous year.

The trading for the year as a whole was in line with expectations, according to the company.

At the end of the quarter, David King took over as the new chief executive of the company.

King was chief executive of Time Out Group for four years and previously served as chief executive of regional news group JPIMedia.

Summary:

US-based sports betting and gaming company XLMedia’s revenue for the first half of the year was $30.2 million, more than five times the total recorded in H1 of the previous year. The US sports division generated the vast majority of XLMedia’s revenue, with $30.2 million, which was more than five times the total recorded in H1 of the previous year.