A renewed – and acquisition-powered – focus on US sports betting helped drive XLMedia’s revenue up 39.2% to $44.5m, while earnings grew beyond $10m.
Since the prior year’s results, XLMedia changed the structure of the divisions within the business, as part of a wider restructuring effort.
Rather than a single sports betting vertical, the business split revenue related to betting into US sports and European sports. It was the US sports division that generated the vast majority of XLMedia’s revenue, with $30.2m, which was more than five times the total recorded in H1 of the previous year.
Much of this came from recent acquisitions such as Sports Betting Dime and Saturday Football Inc.
“The opening of new regulated markets and the signing of new media partnership agreements has allowed the US Sports business to capitalise on the full US sports calendar, in particular the Super Bowl, and deliver strong growth in H1 2022,” the XL board said.
The European Sports division, meanwhile, br..