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XLMedia expands US sports betting presence with $25m deal

10th December 2020 11:11 am GMT

Shares in iGaming affiliate XLMedia soared by more than 10 per cent in London Thursday morning after the company announced the acquisition of US sports betting affiliate CBWG Sports for $25m.

CBWG was formed early this year through the combination of CB Sports and Warwick Gaming, and is registered as a sports betting affiliate in six US states, including New Jersey and Pennsylvania.

Under the terms of the the acquisition, XLMedia will pay an upfront consideration of [...]

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