7th Jul 2014 08:13
LONDON (Alliance News) - XLMedia PLC said Monday that it has acquired an undisclosed Scandinavian website network for USD2.3 million, which it expects to add to earnings this year.
The network reviews online casino and poker websites, mainly in Denmark. XLMedia said it extends its reach into Denmark, and offers a complimentary geographic footprint to its existing Scandinavian operations.
It will continue to buy up websites and domains as part of its growth strategy, it said, and will continue to evaluate an increased presence in fully regulated markets.
"Since our IPO in March this year, we have continued to make good progress with positioning XLMedia to capitalise on the significant growth opportunities in the online gaming sector," said Chief Executive Ory Weihs in a statement.
Shares in XLMedia were trading up 2.3% at 56.28 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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