(Alliance News) - XLMedia PLC on Monday said traffic to its online casino websites have been hurt after they were demoted on Google searches.
The Limassol, Cyprus-based digital marketing firm said the casino sites had their ranking of Alphabet Inc's search engine demoted. Meaning they are not as visible on browser searches.
XLMedia explained: "Whilst it is too early to accurately assess the financial impact of this action by Google, any further material delay to the full restoration of rankings of these online assets would result in a corresponding reduction of both revenue and adjusted EBITDA during that period."
XLMedia shares were 20% lower at 37.50 pence each in London on Monday afternoon.
By Eric Cunha; ericcunha@alliancenews.com
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Xlmedia (XLM)