Affiliate marketing specialist XLMedia’s shares declined 29.4% as it announced recent changes to the Google rankings of its sites have led to a “significant decrease in traffic” that would hurt the company’s revenue.
Executives of the company behind UK white label sportsbook Fansbet claim the business is in good financial shape, despite acknowledging that the company owes more than £500,000 in late payments to affiliates dating back to August 2019.
Online affiliate and content marketing provider Raketech has warned it is likely to fall short of its forecasted reported earnings before interest, tax, depreciation and amortisation (EBITDA) in the fourth quarter, while operating profit it also set to come in below expectations.
Australian online gambling operator Betchoice, trading as Unibet in the country, has been ordered to pay Aus$25,000 (£13,052/€15,372/US$17,115) in fines and costs for illegally offering gambling inducements to consumers in New South Wales.
Raketech saw revenue for the third quarter of 2019 decline 15.1% to €6.0m, while costs increased, as the affiliate marketing business' profits continued to suffer from the effects of Swedish re-regulation.
Affiliate marketing giant Better Collective reported record revenue of €17.1m for the third quarter of 2019, a 53.9% year-on-year increase, which the business said was largely attributable to acquisitions in the US and Sweden.
Norway’s gambling regulator Lotteri-og stiftelsestilsynet (Lottstift) has revealed a 19% year-on-year decline in advertising spending by offshore operators over the past year, with plans in motion to stamp this out entirely.
XLMedia has put a 10% year-on-year decline in revenue during the first half of the year primarily down to regulatory headwinds, while the digital marketing service provider also saw gross profit slip 9% in the period.
Performance marketing specialist Raketech Group has reported a 6.1% year-on-year decline in revenue for the second quarter of 2019, though reduced costs saw it significantly increase its profit for the period.
Affiliate giant Catena Media has seen revenue fail to meet internal targets for the second consecutive quarter, blaming tightening regulations in the UK and France, and a lack of improvement in the newly regulated Swedish market for its struggles during the period.
iGaming affiliate business Net Gaming Europe has reported a 24% year-on-year decline in revenue over second quarter of the year, blaming tighter regulations in a number of European markets and increased competition in North America for its struggles.