M&A
Betsson AB Acquired Holland Gaming
Betsson AB recently acquired Holland Gaming Technology Ltd for EUR 27.5 million. Holland Gaming Technology Ltd holds a local gaming
XLMedia has decided to sell its sports betting and gaming assets in Europe and Canada to Gambling.com (GAMB) for an initial $37.5 million, with a possible extra $5 million later. This decision aligns with XLMedia’s efforts to make more money for its shareholders. The deal includes projects like Freebets.com, WhichBingo.co.uk, Nettikasinot.com, and Vedonlyonti.com. It’s part of their plan to focus more on the North American market, where they see better chances to grow.Financial Implications
The sale process started back in December.
This total sum also represents 200% of the group’s entire market capitalisation as of March 2024.
XLMedia has stated that the proceeds from the sale will cover transaction costs and outstanding taxes. Additionally, the company plans to return money to shareholders and provide working capital to support its North American projects.
The company has been refocusing its efforts on the North American markets, especially on sports and betting.
In 2022, North American sports contributed to 65% of the company’s revenue. By selling its European and Canadian projects, the company intends to concentrate on increasing its audience in North America.
— Marcus Rich, Chair of XLMedia
“The Board believes the sale of these assets, which is approximately two times the current market capitalisation of the whole company, is an excellent outcome for XLMedia and its shareholders. Importantly, this transaction will allow the company to clear legal liabilities, provide working capital and return cash to shareholders.”
“By divesting its European and Canadian assets, the company intends to concentrate on expanding its footprint, diversifying revenue streams, and enhancing audience relationships in the North American market”.
— Marcus Rich, Chair of XLMedia
Related pages:
This site uses cookies to provide the best user experience for you. These technologies will allow us to process
different data such as browsing behavior, regional preferences, etc. Not consenting or withdrawing consent may badly
affect certain features and functions of the site. If you disagree with our Privacy Policy – please, stop using this
site.
By clicking “Allow all cookies” or closing this window you will allow use of Cookies as outlined in our Privacy Policy.