XLMedia extends Schneps Media deal for three years

Digital media company XLMedia announced a three-year extension of its partnership with Schneps Media on Wednesday, solidifying its commitment to expanding in North America and driving growth in sports betting and gaming revenues.

The AIM-traded firm said the deal would ensure that it would remain the exclusive provider of sports betting and ‘iGaming’, or online casino, content to the amNewYork brand.

It said the extension followed a successful initial two-year agreement, with XLMedia to continue supplying sports betting content to amNY.com, while also taking charge of managing commercial deals with regulated sportsbooks.

Leveraging its content and monetisation expertise, XLMedia said it would also establish an educational and engaging iGaming content hub on amNY.com.

“We are pleased to be able to build upon our sports betting success with amNY.com in the years to come and to extend our partnership to include iGaming in what we believe will be another important revenue opportunity for both businesses,” said chief executive officer David King.

“In line with our stated strategy, this agreement furthers our efforts to expand our North America footprint and drive iGaming in select markets like the US to capitalise on the high-margin gaming vertical.”

At 1312 BST, shares in XLMedia were up 1.67% at 9.15p.

Reporting by Josh White for Sharecast.com.