Industry News Roundup as XLMedia agrees mega sell-off deal

As we prepare to enter a new Fiscal year, the online gambling industry is as eventful as it has ever been and this is considerably illustrated by the amount of activity that is currently flooding inboxes.

The latest news emerging from the boardrooms is that the digital media online gambling company; the giant, XLMedia has struck a deal with rival Gambling.com to sell its highly profitable European and Canadian online sports betting and casino assets.

It is a sum that is in excess of $42.5 million, which will see Gambling.com become one of the largest affiliate groups in the industry, ranking alongside the likes of Catena media.

Details of the deal reveal that it is understood that it will go through at the beginning of April, pending everything being in place.

Washington DC to launch Sports Betting

After much deliberation and negotiation, it is understood that the capital state of the US; Washington District of Columbia is set to launch sports betting. 

News of this has emerged as the country is in the process of becoming the largest sports betting and gambling market in the industry, with plans to introduce the Sports Wagering Amendment Act 2024, that will see the state have the right to offer sports betting.

Indeed, news of this has been greeted in a highly positive light since it emerged and there is significant confidence that this will take off in style, with the state having a huge interest in the industry.

It is certainly worth watching this space and, as a result, there is likely to be many companies vying for a piece of what could be a highly profitable pie.

MGM Considering sale of Ohio and Massachusetts assets

There is an understanding that MGM Resorts International is sensationally considering the sale of its Ohio and Massachusetts assets as it prepares to raise significant capital.

The operator will go head to head with competitors Caesars Entertainment over the course of the next financial year and, after already agreeing to fund mega projects around the world, this extra capital could come in particularly handy.

It remains to be seen what will come of this, though despite the property in Massachusetts generating in excess of $250 million last year, there is more confidence that resources could be better used.