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09/10/2023 , 20:35 XLMEDIA Business Update Released : 26/01/2021 07:00 RNS Number : 8367M XLMedia PLC 26 January 2021 26 January 2021 Business Update XLMedia PLC ( " XLMedia " or the " Group " or the " Company " ) Business Update XLMedia ( AIM : XLM ) , a leading global digital performance publisher , today provides an update for the year ended 31 December 2020 . For the Full Year 2020 , XLMedia expects to deliver revenue of approximately $ 54.5 million ( H1 2020 : $ 27.7 million ) and adjusted EBITDA of approximately $ 11.5 million ( excluding transformation costs and share based payments ) ( H1 2020 : $ 5.1 million ) . As detailed in the first half results in September , the Company is pursuing a multi track approach to recovering the Casino vertical , where a number of sites were penalised by Google early in 2020. This process is being carried out in conjunction with a fundamental rationalisation of the asset portfolio , significantly reducing the overall number of sites and upgrading the quality of those remaining , with a concentration on highly - engaging content and enhanced functionality to drive increased traffic and build consumer loyalty . The approach to recovering the Casino vertical is an orderly combination of , i ) submitting to Google for reconsideration certain sites which have been rebuilt in house or in conjunction with a partner , ii ) developing some entirely new sites , where this is the better strategic option , iii ) de - indexing sites which are immaterial and may have a negative impact on the authority of the premium websites , and iv ) disposing of sites which no longer fit with the direction of the business . We have now completed the core development work on all the rebuilt sites we will take forward and have commenced the submission process to Google for reconsideration . To date , we have been successful in having the penalty removed for three of the ten sites we wish to recover , Casino.pt , Casino.gr and CasinoKiwi.co.nz . Learnings from both successes and initial rejections are being applied to the ongoing refinement of the remaining sites and we will resubmit those sites in due course . We will provide a further update on the Casino recovery https://otp.tools.investis.com/clients/uk/xlmedia2/rns/regulatory-story.aspx?cid=807&newsid=1447173 1/3