XLMedia forecasts FY revenue growth despite further casino “weakness”

| By Robert Fletcher
Affiliate giant XLMedia has forecast a year-on-year revenue growth in its 2021 financial year, despite expecting “ongoing weakness” in its European casino business.

In a statement released ahead of the business’s annual general meeting today (27 May), chief executive Stuart Simms said revenue is likely to reach between $65m (£46m/€53m) and $70m.

The lower end of this estimation would represent an 18.2% year-on-year increase on the $55m posted in 2020, while the upper end of the forecast would mean a 27.3% rise.

Simms said this forecast was based on what he described as a “solid start” to 2021 by the business, supported by a good performance in the personal finance and European sport verticals

He also noted XLMedia’s recent acquisitions in US sports vertical will continue to partially offset ongoing declines across its European casino assets.

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