XLMedia agrees to acquire Sports Betting Dime
Global publisher XLMedia has announced it will acquire affiliate brand, Sports Betting Dime (SBD), for a total consideration of $26m.
The deal means XLMedia will grow its presence in the ever-growing US sports betting market. This will be an expansion to its existing American asset CBWG, which the company acquired last year.
The agreement means XLMedia is free to use SBD’s US affiliate sports betting brand, sportsbettingdime.com, which already attracts national traffic.
SBD will look to bring its expert team to the table, one which consists of marketing, SEO, content production and technology development experts.
With SBD’s support, XLMedia believes it can accelerate its growth in the thriving North American regulated market.
Stuart Simms, chief executive at XLMedia, said: “We set out a clear strategy to develop and monetise a balanced portfolio of content-rich and engaging consumer-centric websites, with a greater exposure to regulated markets and a particular focus on rapidly developing and scaling our presence in US sports.
“We are delighted with the progress of the CBWG business in North America in the short period since we acquired it in December, and we are excited by the potential synergy value from leveraging the scale, footprint and skills of SBD.
He added: “We believe the combination of Sports Betting Dime and CBWG provides the group with immediate scale and broad market reach at a time when US sports betting is experiencing significant growth momentum as additional states regulate and open up to legalised sports betting.”
The acquisition is expected to be completed around 22 March 2021.
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