XLMedia has continued to pursue its expansion into ‘high-potential markets’ by instructing Akur Capital to commence its sales process for the majority of its Finnish-facing casino assets and publishing sites.
The acquisition will allow XLMedia to ‘deliver more sustainable and predictable growth’ across regulated markets.
It supports XLMedia’s three-pronged transformation strategy, which includes further investment into regulated markets, consolidation of publishing assets and investment into US sports and personal finance.
Stuart Simms, Chief Executive Officer of XLMedia, commented: “XLMedia has set out a clear transformation strategy to deliver the next phase of growth. We have already made significant progress with reshaping the organisation, reducing our cost base, strengthening the leadership team and building our core people skills and technological expertise.
The sale of our Finnish-facing casino assets will reduce the reliance on unregulated markets and accelerate the delivery of our strategy, providing additional capital for the acquisition of attractive assets in regulated and high growth markets, such as the burgeoning US sports market.
“I look forward to updating our key stakeholders over the coming months.”
Under its transformation strategy, XLMedia will focus its resources on a ‘core set of premium sites’, seeking to establish stronger relationships with consumers. This rebalancing of the portfolio will be supported by organic investments, disposals and acquisitions.
Expansion into the US has also been highlighted as a key priority for the affiliate group, with plans to establish a foothold in the personal finance sector.
Meanwhile XLMedia also plans to generate an increasing proportion of its revenue from more stable, regulated markets, both within current serviced verticals, such as gambling and personal finance and, over time, within additional target segments, where its core skills and scale can provide competitive advantage.