XST Capital Group LLC
XST Capital Group LLC is a Jersey City-based boutique investment bank founded in 2024 by Joel Simkins, providing M&A advisory, capital raising, strategic consulting, and executive search services to digital gaming, media, and technology companies in the U.S., Canada, and Australia.
- Company typePrivate
- Founded2024
- HeadquartersJersey City, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What XST Capital Group LLC does
XST Capital Group LLC is a boutique investment banking and strategic advisory firm founded in May 2024 by Joel Simkins and headquartered in Jersey City, NJ. The firm specializes in the digital gaming, media, and technology sectors, with deep coverage of sports betting, iGaming, fantasy sports, prediction markets, B2B technology, media and affiliate, lottery, regulatory technology, payments, and social betting. It serves both public companies and venture-stage operators and suppliers across the United States, Canada, and Australia.
The firm delivers its capital-markets execution through a partnership with Stonehaven, LLC, a FINRA-registered broker-dealer, enabling XST to act on sell-side mandates, debt and equity capital raises, and strategic alternatives engagements. Within its first operating year XST has been disclosed as financial advisor on the CAD$43.4 million NorthStar Gaming debt financing and as strategic-alternatives advisor to Rivalry Corp, among other mandates. It has expanded its product set beyond M&A and capital raising with the launch of an executive search vertical.
XST monetizes through success-based advisory fees on closed transactions, strategic-advisory retainers, and executive search fees, supported by a senior advisor bench drawn from publicly traded gaming suppliers and operators. The team is small (8-10 professionals) by design, leveraging domain specialization and principal-led coverage rather than scale.
XST Capital Group LLC firmographics
Firmographics- Name
- XST Capital Group LLC
- Legal name
- XST Capital Group LLC
- Website
- https://xstcapital.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- XST Capital Group LLC is a Jersey City-based boutique investment bank founded in 2024 by Joel Simkins, providing M&A advisory, capital raising, strategic consulting, and executive search services to digital gaming, media, and technology companies in the U.S., Canada, and Australia.
- Ownership category
- akta.pro rank
XST Capital Group LLC industry classification
Industry- Product category
- Investment Banking Advisory
- NAICS
- Miscellaneous Intermediation (52391), Miscellaneous Intermediation (523910), Other Financial Investment Activities (5239), Miscellaneous Financial Investment Activities (523999), Portfolio Management and Investment Advice (523940)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282), Services-Management Consulting Services (8742)
- akta.pro primary industry
- Corporate Finance & Capital Advisory (BPAHADAB)
- akta.pro secondary industry
- Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC)
Keywords
Where XST Capital Group LLC is headquartered
LocationHeadquarters
- HQ city
- Jersey City
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
XST Capital Group LLC business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure
Revenue model
- Investment Banking Advisory Fees: Advisory services for mergers & acquisitions, capital raising, and strategic consulting engagements. Revenue generated through professional fees for advisory mandates.
- Placement Agent Fees: Placement agent services for debt and equity financing transactions. XST Capital Group and Roselli Advisory served as placement agents for NorthStar Gaming Holdings $43.4M CAD loan issuance.
- Strategic Consulting: Strategic guidance and advisory services aligned with each client's objectives, from strategic positioning through transaction close.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels7 records
XST Capital Group LLC product offering
Product offeringCore offering
XST Capital Group is a boutique investment banking firm that provides specialized advisory services — including M&A advisory, capital raising, placement agent services, strategic consulting, and C-suite executive search — to founders, operators, and investors in the digital gaming, sports betting, iGaming, media, and technology sectors. Services are delivered through direct engagement letters, with securities offerings executed through FINRA-registered broker-dealer Stonehaven, LLC.
Product overview
XST Capital Group LLC is a boutique investment banking and advisory firm, not a technology product company. The firm provides specialized advisory services focused on the digital gaming, media, and technology sectors, including M&A advisory, capital raising, and strategic consulting. The firm publishes industry insights through its 'The Next' CEO interview series and 'Considerations' thematic reports. No software products, platforms, or modules were identified in the source data.
Differentiator
Problem solved
Functional benefit
Brands
- The Next: Publication series featuring CEO interviews with industry leaders in the digital gaming and sports betting space.
- Considerations
Products and services
- M&A Advisory Mergers and acquisitions advisory for founders, operators, and investors in digital gaming, media, and technology sectors, including strategic positioning and transaction execution support from mandate through close.
- Capital Raising Capital raising advisory supporting debt and equity financing transactions for companies in digital gaming, media, and technology.
- Placement Agent Services Placement agent services for debt and equity financing transactions, executed through FINRA-registered broker-dealer Stonehaven, LLC.
- Strategic Consulting Strategic consulting services aligned with each client's objectives, from strategic positioning through transaction close, for digital gaming, media, and technology companies.
- Executive Search Confidential retained C-suite executive search services exclusively for companies in the digital gaming sector.
- The Next CEO Interview Series Editorial publication featuring CEO interviews across the digital gaming ecosystem (sporttrade, PlayStar, WagerWire, GridRival, Betsperts, Bragg Gaming, nVenue, ProphetX, and others) published by XST Capital Group.
- Considerations Thematic Reports Thematic reports from XST Capital Group's senior advisors covering timely industry topics across digital gaming, M&A, and adjacent sectors.
Quantifiable outcome
- Secured one of the largest debt financings to date in the online casino industry ($43.4M CAD for NorthStar Gaming)
- +2 more outcomes
Companies that use XST Capital Group LLC
Customer profileNamed customers17 records
Segments4 records
Ideal customer profiles3 records
XST Capital Group LLC technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
XST Capital Group LLC partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered flagship and core.
- Rivalry Corp.flagshipSelected by Rivalry Corp. (TSXV: RVLY) (OTCQX: RVLCF) to assist in evaluation of strategic alternatives for long-term growth. Rivalry is the leading sportsbook and iGaming operator for digital-first players. The engagement was announced in April 2025.
- Roselli AdvisorycoreXST Capital Group and Roselli Advisory served as co-placement agents and financial advisors to NorthStar Gaming Holdings Inc. in securing a $43.4 million CAD loan issuance, one of the largest debt financings to date in the online casino industry. The partnership brought together multiple stakeholders including Beach Point Capital Management and Playtech.
- Stonehaven, LLCcoreSecurities offered through Stonehaven, LLC, a registered broker-dealer and Member of FINRA and SIPC. All members of XST Capital Group LLC are registered representatives through this arrangement.
Scale indicators3 records
Recent moves6 records
Expansion highlights5 records
XST Capital Group LLC competitors and assessment
Company assessmentDirect peers
- Union Gaming (now part of Macquarie): Historically a boutique investment bank dedicated to the gaming sector, providing M&A advisory, capital raising, and equity research. Now integrated into Macquarie but exemplifies the boutique gaming-specialist model XST operates within.
- Eilers & Krejcik Gaming: Boutique advisory and research firm focused exclusively on the gaming industry, providing M&A advisory, capital markets, and equity research services. Closest direct competitor in terms of vertical specialization on the digital gaming and iGaming ecosystem.
- Drake Star Partners: Global boutique investment bank with dedicated Technology, Media & Telecom and Gaming practices advising on M&A and capital raising. Closely comparable in size and model to XST — a sector-focused boutique serving founders and operators across digital entertainment.
Broad incumbents
- Moelis & Company: Independent global investment bank with strong M&A advisory capabilities across consumer, media, and technology verticals. Represents the larger-boutique competitive set XST faces when ascending from lower-middle-market mandates into larger gaming transactions.
- Houlihan Lokey: Global investment bank with strong M&A advisory and capital-raising capabilities across consumer, media, and entertainment verticals. Founder Joel Simkins was previously at Houlihan Lokey, and the firm represents the type of bulge-boutique competitor XST encounters on mid-market gaming deals.
- Macquarie Capital (Gaming & Leisure): Global investment bank with a dedicated Gaming, Lodging & Leisure practice covering digital gaming operators and B2B suppliers. Competes for the same strategic advisory and capital-raising mandates XST pursues in the digital gaming vertical.
- CBRE Capital Markets (Gaming): Real estate-focused investment bank with a gaming and hospitality advisory practice. Although more real-estate-tilted, it advises many of the same land-based and digital gaming operators on M&A and financing that XST targets.
- Oppenheimer (Emerging Media & Telecom Group): Full-service broker-dealer with an Emerging Media and Telecommunications investment banking practice covering video games, digital media, and sports — a closely overlapping vertical with XST. XST Managing Director Maxwell Gover most recently led that practice at Oppenheimer.
- Truist Securities (Gaming & Leisure): Mid-to-large full-service broker-dealer where XST founder Joel Simkins previously headed Gaming & Leisure investment banking, growing it into a top-seven platform. Natural competitor for the same digital-gaming advisory mandates.
- Jefferies (Gaming, Lodging & Leisure Group): Large full-service investment bank with a dedicated Gaming, Lodging & Leisure investment banking group that competes for digital gaming M&A and capital-raising mandates; XST's VP Bryce Littell joined from Jefferies' Real Estate, Gaming, Lodging & Leisure group. Direct competitor on larger gaming transactions.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
XST Capital Group LLC social profiles
Digital presenceXST Capital Group LLC financial estimates
Financial estimateRevenue estimate
Valuation estimate
XST Capital Group LLC leadership team
Management profileNumber of profiles
Profiles10 records
XST Capital Group LLC funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
XST Capital Group LLC M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about XST Capital Group LLC
What does XST Capital Group LLC do?
XST Capital Group is a boutique investment banking firm that provides specialized advisory services — including M&A advisory, capital raising, placement agent services, strategic consulting, and C-suite executive search — to founders, operators, and investors in the digital gaming, sports betting, iGaming, media, and technology sectors. Services are delivered through direct engagement letters, with securities offerings executed through FINRA-registered broker-dealer Stonehaven, LLC.
Is XST Capital Group LLC a public or private company?
XST Capital Group LLC is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was XST Capital Group LLC founded?
XST Capital Group LLC was founded in 2024. It employs 1 to 10 people.
Where is XST Capital Group LLC based?
XST Capital Group LLC is headquartered in Jersey City, United States, in the North America region.
How does XST Capital Group LLC make money?
Three revenue lines are on record. Investment Banking Advisory Fees are the primary driver. The others are placement Agent Fees and strategic Consulting.
Who are XST Capital Group LLC's main competitors?
Direct peers on record are Union Gaming (now part of Macquarie), Eilers & Krejcik Gaming and Drake Star Partners. Broad incumbents are Moelis & Company, Houlihan Lokey, Macquarie Capital (Gaming & Leisure), CBRE Capital Markets (Gaming), Oppenheimer (Emerging Media & Telecom Group), Truist Securities (Gaming & Leisure) and Jefferies (Gaming, Lodging & Leisure Group).
Does XST Capital Group LLC have an API?
No public API is recorded for XST Capital Group LLC.
What industry is XST Capital Group LLC in?
XST Capital Group LLC's product category is Investment Banking Advisory. Its primary akta.pro industry code is BPAHADAB, Corporate Finance & Capital Advisory, with a secondary code of FSAEAGAC, Capital Raising Advisory (Equity & Equity-Linked). Its NAICS code is 52391 and its SIC code is 6211.