XLMEDIA to Offload Finnish Casino Assets

Publishing firm XLMedia has instructed Akur Capital to commence a process to sell the majority of its Finnish-facing Casino assets, along with certain other publishing sites.

This proposed disposal is in line with the company’s stated strategy of refining its publishing portfolio and refocusing on regulated and high-potential markets, to deliver more sustainable and predictable growth.

Any disposal proceeds from a successful conclusion over the coming months will be used, along with current balance sheet headroom, to expedite the Company’s strategy through the acquisition and development of content-rich, highly engaging sites in regulated and high growth markets.

“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,” Stuart Simms, CEO of XLMedia, said.

“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,” Stuart Simms added.