XLMedia, a leading global digital performance publisher, has announced a significant step forward in its stated priority to expand its presence in the burgeoning US sports market.
Yesterday it completed its acquisition of the sports gaming and sports betting business of CBWG Sports. CBWG, which was formed early in 2020 through a combination of CB Sports and Warwick Gaming, is a highly successful and fast-growing digital media publishing group based in the north-east US, focused on professional and college sports, sports gaming and sports betting.
CBWG is registered as a sports gaming affiliate in six states, including New Jersey and Pennsylvania. The business owns and operates the sports and gaming assets CrossingBroad.com, PASportsBooks.com, BetNewJersey.com, EliteSportsNY.com, PromoCodeKings.com and ActionRush.com and already has agreements in place with leading regulated online sportsbooks in the US.
The business also has an agency arm, which partners with leading sports media brands to drive user acquisition in the regulated betting markets of Colorado, Illinois, and Tennessee.
Through the due diligence process, management have estimated the owned sites receive around 550,000 visits per month and generated unaudited Revenue and EBITDA, before founders' compensation, over the trailing 12 months, ending October 2020, of approximately $4.6m and approximately $2.7m respectively.
