CFO Iain Balchin to depart XLMedia, Ellis takes over role on interim basis | People moves

Rowan Ellis is to change into XLMedia’s new interim group chief monetary officer with incumbent Iain Balchin to depart later this month.

Balchin joined the internet affiliate marketing group simply 17 months in the past and through that point has assisted the operator in its acquisitions of CBWG Sports and Sports Betting Dime, price greater than a mixed $45.0m.

Ellis, who has been working as a monetary advisor to XLMedia since final April, will assume the brand new place when Balchin departs on 22 July, however won’t be a part of the board presently.

Ellis has offered help throughout XLMedia’s enterprise, together with its broader M&A technique and the CBWG Sports Betting Dime offers. He has held senior positions at quite a few main finance establishments together with Co-operative Bank, RBS and WorldPay Group.

Chris Bell, non-executive chair of XLMedia, stated: “On behalf of the board, I would love to thank Iain for his contribution to the enterprise and need him each success for the long run.

“We have now commenced the seek for Iain’s long-term successor, however imagine that, in Rowan, we’ve somebody who already has understanding of our enterprise and the finance perform and has been central to quite a few key initiatives already applied.”

Balchin’s departure comes simply over every week after XLMedia introduced Nigel Leigh as its new chief info officer with quick impact.

In May, XLMedia forecast a year-on-year income development for its 2021 monetary 12 months, regardless of anticipating “ongoing weak spot” in its European on line casino enterprise.

Revenue is probably going to attain between $65m (£47m/€55m) and $70m, with the decrease finish of this estimation representing an 18.2% year-on-year improve on the $55m posted in 2020, and the higher finish of the forecast a 27.3% rise.

XLMedia accomplished the acquisition of sports activities gaming and sports activities betting enterprise CBWG Sports in December 2020. XLMedia introduced it will pay an preliminary $12.0m in money and challenge 7,954,546 new shares – at an combination worth of $3.5m – to take possession of CBWG.

In March 2021, XLMedia accomplished its acquisition US-focused sportsbook evaluate web site Sports Betting Dime for £26.0m.

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