XLMedia moves European casino assets in $4 million deal

[The Buzz]

London-based affiliate group XLMedia completed the sale of three Europe-facing casino assets for $4 million as Casino.se, Casino.gr and Casino.pt, were sold to Beach Services. The three sites target Sweden, Greece and Portugal, respectively.

As a result. XLMedia shares were trading 12% higher at 10.90 pence each in London on Wednesday morning.

From Alliance News:

In 2022, the assets generated revenue of USD840,000, representing 6% of XLMedia's European Casino revenue, with a gross profit of USD750,000.

XLMedia said it will continue to operate its gaming business in Sweden and other European markets. The company said that, at present, European Gaming is tracking "marginally ahead" of expectations.

XLMedia said proceeds from the sale will be used for additional working capital, and to fund further investment to expand its North American Sports and Gaming footprint and to advance its EU portfolio.

Read more here: https://www.marketscreener.com/quote...sets-44317554/

[Casino Magnus]

Casino.se got a massive manual penalty a couple of years ago, we're talking hero to 0 in a blink of an eye. Checked their stats in ahrefs a couple weeks back and saw a little tick upwards but I guess the buyers are getting some old accounts and the .gr and .pt versions in it.

Still, it would be interesting to see if the buyers are aware that one of the assets got a manual penalty or if that's not key information since the manual penalty have been lifted now.