Tuesday, 23 April 2024
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Gambling.com Group acquires Freebets.com to boost European presence By Investing.com

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CHARLOTTE, N.C. – Gambling.com Group Limited (NASDAQ:GAMB), a key player in online gambling affiliate marketing, has completed the acquisition of Freebets.com and related assets, a move expected to significantly enhance its European market presence.

The transaction, which closed today, is projected to contribute approximately $10 million in revenue and $5 million in adjusted EBITDA for the remainder of 2024.

The strategic acquisition cost Gambling.com Group between $37.5 million and $42.5 million, with an initial payment of $20 million at closing. Additional payments include $10 million due six months post-closing and a contingent sum ranging from $7.5 million to $12.5 million, to be paid on the one-year anniversary, dependent on the new assets’ revenue performance throughout 2024.

Charles Gillespie, CEO and Co-Founder of Gambling.com Group, emphasized the importance of European markets in the industry, despite the attention on U.S. gambling expansion. He expressed confidence that this acquisition would shift the dynamics of power within the European online gambling affiliate market and accelerate growth across both established and new markets in Europe.

The deal also brings new team members into the fold, who will benefit from the company’s technology platform and performance culture.

Gambling.com Group, founded in 2006, manages a diverse portfolio of more than 50 websites across 15 national markets, including Gambling.com, Bookies.com, and Casinos.com. With a focus on iGaming, sports betting, and fantasy sports, the group operates primarily in the United States and Ireland.

The company’s forward-looking statements regarding the anticipated revenue and EBITDA contributions from Freebets.com, as well as the potential market impact of the acquisition, are based on current expectations.

These statements are subject to various risks and uncertainties, and actual results may differ materially. Gambling.com Group’s recent annual report and other SEC filings provide detailed information on these risk factors.

This strategic acquisition is based on a press release statement and reflects Gambling.com Group’s commitment to strengthening its position and expanding its reach in the European online gambling affiliate market.

InvestingPro Insights

In light of Gambling.com Group Limited’s (NASDAQ:GAMB) recent strategic acquisition, investors may find the following InvestingPro data points and tips particularly enlightening. The company’s market capitalization…

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