In a slick strategic play to rake in the cash for its shareholders, XLMedia’s decided to ditch all its sports betting and gambling goodies in Europe and Canada to Gambling.com, hitting the streets as GAMB, for a wild $37.5 mill with maybe an extra $5 mill icing on the cake.
Chatter about this deal started cooking up back in December, with the squad digging deep into ways to stack more paper for the shareholders. Turns out, based on the FY2023 score XLMedia dropped in February, those $42.5 mill are straight up 6.4 times what they figured the adjusted EBITDA of $6.6 mill per asset would be. And for real, that’s like twice the whole company’s market worth as of March 2024.
XLMedia’s laying it down that this sale’s all part of their fresh strategy they’ve been flipping towards in recent years, getting all hyped up on North American markets. Back in 2022, the North American sports scene banked 65% of the company’s total loot — and the crew’s looking to push even bigger, mix up their income streams, and lock down a solid spot in the American crowd’s hearts and pockets.
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