XLMedia Acquires WhichBingo Review Site
Posted on by Sean Williamson
On Monday, 16 April, Jersey-based online gaming media specialist, XLMedia announced that it had acquired fellow UK firm, online bingo reviewer, WhichBingo. XLMedia has not, however, disclosed the value of the deal as yet.
Off the back of impressive 2017 full-year financial results, XLMedia’s latest acquisition forms part of its ongoing strategy to amplify and deepen its reach within the United Kingdom gaming market. As such, WhichBingo now forms part of XLMedia’s massive affiliate network of over 300 affiliate partners.
10 Industry Awards
Founded in 2000 by businessman, Phil Fraser, WhichBingo is an online bingo review website based in Jersey in the United Kingdom. Over its 18 years of operation, WhichBingo has enjoyed considerable success, as is evidenced by its 10 prestigious industry awards.
In addition to the review site, WhichBingo runs its own awards programme, entitled the WhichBingo Awards, and publishes a UK-facing Online Bingo Annual Report.
In an official statement, XLMedia Chief Executive Officer, Ory Weihs expressed his delight at the acquisition of such an esteemed United Kingdom brand. Weihs went on to explain that the purchase is in perfect alignment with the company’s strategic objective of acquiring top-quality assets across various regulated markets.
Good Times for XLMedia
Released in March 2018, XLMedia’s full-year financial results showed a considerable revenue increase of 33% to US$137.6 million from the previous year, whilst the company’s gross profit also increase substantially over this same period.
This success has enabled XLMedia to make several major acquisitions since the start of the year. In addition to the WhichBingo deal, this included the purchase two Finnish operators, Nettikasinot.com and Netticasinot.com, for a combined €15 million in January 2018.
Weihs revealed that XLMedia continues to witness a healthy flow of acquisition opportunities, as it seeks a broader, stronger market reach over the coming year.
At present, XLMedia engages in of four distinct but interrelated lines of business – Digital Media Buying, Publishing, Affiliate Programme, and Social Media Management. The company’s Digital Media Buying division is responsible for developing and distributing online media campaign, whilst its Publishing division owns over 2 000 websites. XLMedia’s Affiliate Programme (via its proprietary platform, Reef Media) is the division collects revenue from a network of over 300 affiliate partners via commission. XLMedia’s artfully curated online content enhances its web, mobile and social media presence.
The addition of WhichBingo, Nettikasinot.com and Netticasinot.com will undoubtedly add greatly to the online gaming media specialist’s revenue-generating capacity for even more impressive full-year financial results in 2018.