Online Gambling Marketing Firm To List In London

ONLINE GAMBLING MARKETING FIRM TO LIST IN LONDON

03rd March, 2014 at 02:02:24
Source: http://www.azonlinecasinos.com

XL Media plans to float on AIM with former Ladbrokes chief in the chair.

Former Ladbrokes 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.

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