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ONLINE GAMBLING MARKETING FIRM TO LIST IN LONDON
03rd March, 2014 at 02:02:24
XL Media plans to float on AIM with former Ladbrokes chief in the chair.
chief executive Chris Bell has been a busy man at XL Media, an online marketing company which drives internet users to online gambling sites
; the company is expected to announce today that it plans to float on the Alternative Investment Market in London.
Founded in 2007 through a merger between a business run by chief executive Ory Weihs and two other founders, and with clients like Ladbrokes, Bet365
and 888.com, XL generated revenues of £ 15.7 million in 2012.
Chris Bell is chairman of the company, which has seen revenues soar from £ 3.8 million in 2009 to almost £ 16 million in 2012, and earnings rising from £ 1.3 million to £ 7.5 million.
XL, which owns and operates some 2,000 websites, hopes to raise between £ 18 and 24 million from its IPO, which would give it a market capitalisation of around £ 60 million.
Management says the company is being positioned to benefit from the online gambling legalisation trend currently developing in the United States.
Related News Tags: Bet365, Ladbrokes
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