Last checked at 20 Jan 2020 16:00
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20 January 2020
XLMedia PLC
("XLMedia" or the "Group" or the "Company")
Update
XLMedia (AIM: XLM) provides the following update concerning the Google ranking of a number of its online casino sites which has currently resulted in a significant decrease in traffic to those sites.
On 18 January 2020, the Company became aware that a number of its casino sites have been manually demoted by Google, which impacts the visibility of the sites and their ability to generate meaningful levels of online traffic, and hence revenues, from new visitors.
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.
The Company confirms that the Group's other online publishing assets remain unaffected.
A process of review is now taking place, with a view to resolving any issue as soon as possible and the Company will provide a further update in due course as more information becomes available.
The information contained within this announcement (the "Announcement") is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this Announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.
For further information, please contact:
XLMedia plc Stuart Simms, Group Chief Executive Officer Liat Hellman, Acting Group Chief Financial Officer www.xlmedia.com
| Via Vigo Communications |
Vigo Communications Jeremy Garcia / Fiona Henson / Fiona Norman www.vigocomms.com
| Tel: 020 7390 0233 |
Cenkos Securities plc (Nomad and Joint Broker) Giles Balleny / Max Gould www.cenkos.com
| Tel: 020 7397 8900 |
Berenberg (Joint Broker) Chris Bowman / Mark Whitmore / Simon Cardron www.berenberg.com | Tel: 020 3207 7800 |