Xlmedia Regulatory News (XLM)

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) No 596/2014. Upon the publication of this announcement, this information is now considered to be in the public domain.

26 May 2023

XLMedia PLC

("XLMedia" or the "Company")

 AGM Statement

XLMedia (AIM: XLM), a leading global digital media company, will be holding its Annual General Meeting at 9.00 a.m. this morning. David King, Chief Executive Officer of XLMedia plc, will make the following comment on trading at today's meeting:

"In the US, we saw a strong start to Q1 with the launch of online sports betting in Ohio. However, as seen elsewhere in the market, H1 2023 revenues are inevitably going to be below the prior comparator period of H1 2022, which benefited from the much-anticipated launch of online sports betting in New York. The launch of online sports betting in Massachusetts in mid-March, after the NFL season ended, while solid, did not see the spike in revenues normally seen on a state launch.

"We also note that the level of acquisition spend by operators in H1 2023 is not comparable to 2022, with less generous promotions available to attract new customers. This reflects our previous acknowledgement that growth in the US market will not be linear, with significant spikes generated by periodic state launches, however we continue to expect to be in line with our expectations for the full year.

"We expect the current softness in the market to continue across the early summer, with a return to significant investment in customer acquisition, and the launch of new products commencing in the run up to the new NFL season bolstering the second half of the year.

"We also see further opportunity in Massachusetts as the NFL season starts and are anticipating the launch of online sports betting in Kentucky.

"Looking longer term, we can expect to see many more US states legalise online sports betting and online casino. 23 states are yet to legalise online sports betting, including California, Georgia and Texas, three states are legal but not yet operational, including Florida, and 43 states are yet to legalise online casino.

"Across European Sport and European Gaming, performance is tracking in line with management expectations benefiting from a strong Cheltenham and Aintree festival, and we expect this encouraging performance to continue."

The Company confirms it will issue a trading update on performance in the first six months of the year in late-July.

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About XLMedia: 

XLMedia (AIM: XLM) is a leading global digital media company that creates compelling content for highly engaged audiences and connects them to relevant advertisers.

The Group manages a portfolio of premium brands with a primary emphasis on Sports and Gaming in regulated markets. XLMedia brands are designed to reach passionate people with the right content at the right time.