March 21, 2024 3 min read

likes: to Acquire XLMedia Betting Assets in $42.5M Deal

To fund the purchase, will tap into its cash reserves, borrowings under its recent credit facility and future cash flow Group, an award-winning performance marketing company serving the iGaming industry, has entered into an agreement to acquire XLMedia’s sports betting business in Europe and Canada. The $42.5 million deal comes in the wake of the signing of a new $50 million credit facility with Wells Fargo.

Under the deal, will pay a fixed sum of $37.5 million, plus up to $5 million more, depending on the assets’ performance. The fixed consideration will be paid in three installments, including an initial payment of $20 million upon the completion of the deal, $10 million after 6 months and $7.5 million after a year. The potential earn-out will be paid out together with the final installment.

To fund the purchase, will tap into its cash reserves, borrowings under its recent credit facility and future cash flow.

The transaction will see XLMedia divest brands, such as,, and, among others smaller affiliates. expects the new assets to generate up to $10 million in revenue and approximately $5 million in incremental adjusted EBITDA from April, when the deal is set to close, to December., however, will not acquire XLMedia’s North American business, which was the main driver of revenue in 2023. XLMedia will use the proceeds to cover transition costs, pay taxes and dividends, and supply the aforementioned NA business with capital. The deal aligns with the latter company’s goal to reorganize its business and focus on more profitable markets.

The Deal Will Benefit Both Companies

Charles Cillespie,’s group CEO, commented on the deal, saying that the new acquisitions will complement his company’s existing website portfolio in a number of key markets.

The deal, he believes, will provide with opportunities to grow in high-margin jurisdictions.

By operating these assets on our technology platform, we expect to unlock their full potential. We are confident that this latest acquisition will create incremental shareholder value in the same way we have done with previous acquisitions.

Charles Cillespie, group CEO,

Marcus Rich, XLMedia’s chairman, also commented on the matter, calling the sale an “excellent outcome” for XLMedia and its shareholders. He pointed out that the sale price is equal to two times the current market capitalization of the whole company.

Importantly, this transaction will allow the company to clear legacy liabilities, provide working capital and return cash to shareholders.

Marcus Rich, chair, XLMedia

In other news, recently joined five like-minded US affiliates, namely Better Collective, Catena Media, Oddschecker Global Media, Spotlight Sports Group and XLMedia, to form the Responsible Gambling Affiliate Association (RGAA). The association seeks to promote regulatory improvements across US jurisdictions.


Angel has a passion for all forms of writing, be it fiction or nonfiction. His curious nature gives him an ace up his sleeve when researching a new topic. Angel’s thirst for knowledge, paired with adaptability, always helps him find his way around.

Leave a Reply

Your email address will not be published. Required fields are marked *