Adj EBITDA was 4% ahead of that indicated in January. The material +47% YoY growth rate in this figure is attributable to the M&A activity in US sports betting over the past 12-18 months which has reshaped the Group. This also brings higher margin activities to offset Casino which is in 'managed decline'. Casino is asset-light with much variable cost and manageable. Sports now forms almost half of all Group revenues and has huge growth potential as more US states legalise sports betting.
29 Mar 2022
Cenkos: XLMedia Plc -- Ahead, and guidance unchanged
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Cenkos: XLMedia Plc -- Ahead, and guidance unchanged
XLMedia Plc (XLM:LON) | 12.5 0 0.0% | Mkt Cap: 32.5m
- Published:
29 Mar 2022 -
Author:
Cavendish Research -
Pages:
5
Adj EBITDA was 4% ahead of that indicated in January. The material +47% YoY growth rate in this figure is attributable to the M&A activity in US sports betting over the past 12-18 months which has reshaped the Group. This also brings higher margin activities to offset Casino which is in 'managed decline'. Casino is asset-light with much variable cost and manageable. Sports now forms almost half of all Group revenues and has huge growth potential as more US states legalise sports betting.