XLMedia Sells European Casino Websites for $4 Million
XLMedia, a large corporation that assists individuals in locating online gambling establishments, has divested three of its European web properties for a sum of $4 million. These online platforms, Casino.se, Casino.gr, and Casino.pt, were targeted at residents of Sweden, Greece, and Portugal, respectively. The acquiring entity was a company known as Beach Services.
These digital assets generated an estimated $840,000 in revenue during the preceding year, representing approximately 6% of XLMedia’s total earnings from its European casino websites. They yielded a profit of roughly $750,000.
Despite the sale of these websites, XLMedia will continue to operate its remaining casino ventures in Sweden and other European nations. The proceeds from the transaction will be allocated towards expanding the company’s operations in North America, particularly in the sports and gaming sectors. Moreover, XLMedia intends to maintain its expansion efforts in the European market.
A spokesperson for XLMedia expressed satisfaction with the substantial profit realized from the sale. They also disclosed that the company recently sold its personal finance business for $2.1 million. XLMedia has been strategically divesting non-core business segments.
The MoneyUnder30 website and its web address have been acquired for a substantial sum of $675,000! This signifies the conclusion of a venture that commenced in December 2022. XLMedia, the entity behind MoneyUnder30, declared their intention to seek a purchaser for their personal finance division as part of a comprehensive restructuring strategy.
XLMedia is now concentrating its efforts on the dynamic realm of sports and gaming. They are aiming to amplify their sports operations in North America and enhance their European sports and gaming activities in significant markets.
The transaction involving MoneyUnder30, in conjunction with other recent agreements such as the sale of DoughRoller, has generated a total of $2.1 million for XLMedia.