Publishing firm XLMedia has confirmed it is planning to offload the majority of its Finnish-facing casino assets, along with some other sites. 

The Jersey-based company has instructed Akur Capital to commence the sales process, and says the move is in line with its strategy to refocus its publishing portfolio towards regulated and high-potential markets, with the goal of building more sustainable and stable growth. 

Any proceeds from the sales will be used, together with the company’s existing balance sheet, to pursue its strategy through the acquisition of content-rich, highly engaging sites in such markets. 

Discussing the move CEO of XLMedia, Stuart Simms, said:

“XLMedia has set out a clear transformation strategy to deliver the next phase of growth. We have already made significant progress with reshaping the organisation, reducing our cost base, strengthening the leadership team and building our core people skills and technological expertise.

“The sale of our Finnish-facing casino assets will reduce the reliance on unregulated markets and accelerate the delivery of our strategy, providing additional capital for the acquisition of attractive assets in regulated and high growth markets, such as the burgeoning US sports market. I look forward to updating our key stakeholders over the coming months.”

AYO.NEWS says:

Again we’re seeing the once coveted Nordic markets gradually wane in importance as operators, suppliers, and affiliates alike look to the vast growth potential of the United States and other emerging gambling markets. 

Staying with XLMedia, in May the company announced cost cutting measures, including staff cuts, as it attempted to save USD $5 million. 

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