XLMedia PLC (AIM:XLM, OTC:XLMDF) said trading is in line with previous guidance with strong US sports activity offset by its European casino arm and a restructuring underway in personal finance.
The digital publisher and data miner said revenues for the year to end December 2021 will be around US$66.6mln, underlying profits US$17.2mln with cash balances of US$24.7mln at the year-end.
Sport vertical revenues rose to US$25.2mln (2020:US$11.3mln) in 2021 and were helped by two US acquisitions and a number of publishing partnerships.
North American coverage now runs across 15 states, with more states expected to legalise online sports betting.
Personal Finance generated revenues of approximately US$8.8mln (2020: US$8.4mln), but are expected to decline in the current twelve months as the division is restructured.
European Casino revenues in 2021 dropped to US$23.2mln (2020: US$31.7 mln), and will continue to face trading pressures as tail revenues decline further, said XL Media, while the business in Finland will be affected by regulatory pressures.
“Whilst the group expects the US Sports vertical to deliver strong growth in FY22, this will be, in part, offset by the managed decline of the European Casino vertical and restructuring of the Personal Finance vertical”