Online gaming affiliate XLMedia targets expansion with London IPO10th March 2014 10:51 am GMT
Jersey-based online gaming marketing firm XLMedia will list on London’s Alternative Investment Market later this month as it looks to expand its presence in Scandinavia as well as focus on new opportunities including the nascent US market.
Established in 2008, with operations principally located in Israel and Cyprus, the company attracts paying customers from different online channels and directs them to online gambling operators. It is headed up by CEO Ory Weihs and chaired by former Ladbrokes CEO Chris Bell.
According to XLMedia, the company attracts players through online marketing techniques and subsequently seeks to channel high value ”traffic” to gambling operators who, in turn, convert such traffic into paying customers. It takes share of the revenue generated by such players, a fee generated per player acquired, fixed fees or a hybrid of any of these three models.
XLMedia claims to generate customer traffic for over 120 online gaming operators including Betsson, Mr. Green, Vera & John (all in Scandinavia) and other established industry brands such as 888.com, Ladbrokes, Unibet and William Hill.
“The business has a strong presence in Scandinavia and the group intends to continue to invest and organically develop the group’s position there,” said the company in a notification to the London Stock Exchange on Friday. “The group also intends to expand its operations into jurisdictions where the directors believe significant opportunities exist, with an initial focus on the US.”
Prior to admission to London’s AIM market, which is expected to take place on March 21st, Webpals Enterprises Limited (in its capacity as general partner for Webpals Enterprises Limited Partnership) owns 83.2 per cent of XLMedia, while Israeli VC Partners LP owns 16.8 per cent.
Through his indirect interest in WELP, the company’s CEO Weihs has an interest of 8.18 per cent in XLMedia.
The company’s board of directors currently includes:
Christopher Bell – Independent Non-Executive Chairman
Ory Weihs – Chief Executive Officer
Richard Rosenberg – Independent Non-Executive Director
Alicia Rotbard – Independent Non-Executive Director
Yaron Eitan – Non-Executive Director