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Gambling.com Group Enters into Definitive Agreement to Acquire Odds Holdings, Parent Company of OddsJam, a Fast-Growing Technology Platform for Real-time Odds Data, in Accretive Transaction

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Transaction Expands Gambling.com Group’s Addressable Market with Recurring Revenue From Consumer Subscription Products and Enterprise Clients

Gambling.com Group, (Nasdaq: GAMB) (“Gambling.com Group” or the “Company”), a fast-growing provider of digital marketing services for the global online gambling industry, announced today it entered into a definitive agreement to acquire Odds Holdings, Inc., the parent company of OddsJam. Under the terms of the agreement, Odds Holdings stockholders will receive initial consideration of $80 million and may receive up to an additional $80 million based on Odds Holdings’ business performance through the end of 2026. Gambling.com Group’s acquisition of Odds Holdings further expands the Company’s online gambling industry footprint, adding complementary recurring revenue from new and existing users and partners.

Odds Holdings is powered by a state-of-the art technology platform for real-time odds data and offers services under multiple consumer and enterprise brands. Gambling.com Group believes the odds platform is the industry’s most advanced and delivers data to end-users with the lowest latency. The platform is built for scale, processing on average over one million requests per second and multiple terabytes of data per day, across nearly 300 sportsbooks. OddsJam is the flagship brand offering premium, real-time odds information to empower sports bettors to make data-driven bets through a consumer facing website and app. Under a separately managed company, Odds Holdings also provides low latency, comprehensive odds data to enterprise clients for a variety of sports betting use cases.

Closing is expected to occur on January 1, 2025 and is subject to customary closing conditions. The transaction will be immediately accretive to Gambling.com Group’s operating results upon closing. For 2024, Odds Holdings expects to generate revenue and Adjusted EBITDA(1) of approximately $26 million and $12 million, respectively. Gambling.com Group expects that under its management Adjusted EBITDA(1) derived from the Odds Holdings assets will grow by at least 20% in 2025. The Odds Holdings team, including OddsJam founders Ankit Goyal and Alex Monahan as well as CEO, Matt Restivo, will join Gambling.com Group.

Strategic and Financial Rationale

  • Expands the Company’s footprint in the online gambling ecosystem with new recurring revenue from both consumer and enterprise clients;
  • Opportunity to leverage Gambling.com Group’s existing partner relationships to significantly grow the Odds Holdings enterprise business;
  • Immediately accretive transaction adds new revenue, Adjusted EBITDA and free cash flow streams, with a margin profile even better than Gambling.com Group’s already high margins; and,
  • Is a strategic and substantial step toward the Company’s stated goal to generate $100 million in annual Adjusted EBITDA(1).

    (1) Represents a non-IFRS measure. See “Non-IFRS Financial Measures” at the end of this release.

“The accretive acquisition of Odds Holdings will immediately provide Gambling.com Group with additional, recurring revenue streams which are independent of our market-leading online gambling affiliate business, consistent with our strategy to expand our footprint in the online gambling industry,” said Gambling.com Group co-founder and CEO, Charles Gillespie. “We are delighted to welcome the Odds Holdings team to Gambling.com Group as we accelerate growth towards our goal of $100 million in Adjusted EBITDA. Their talented team has not only built a state-of-the art odds technology platform, but managed to build multiple distinct products on top of that platform which have very clear product-market fit. Odds Holdings gives Gambling.com Group a suite of new enterprise products while OddsJam in particular brings a passionate and energetic new consumer audience to the Group.

“We have achieved the vast majority of our growth through organic market share gains, while also successfully executing on several strategic, accretive acquisitions that have contributed to our consistently improving financial performance. Our acquisitions of RotoWire, BonusFinder and Freebets.com have proven that we can leverage our high free cash flow to identify, acquire and accelerate growth, creating value for our shareholders, while prudently managing our capital structure and balance sheet,” added Gillespie.

“Combining with a tech-focused leader in the global online gambling industry like Gambling.com Group is the natural next step for Odds Holdings,” said Odds Holdings CEO, Matt Restivo. “By leveraging Gambling.com Group’s expertise, innovation and resources we will be optimally positioned to scale our technology and data-driven insights to reach an even larger audience of online bettors, including beyond the North American market. We’re looking forward to working with the Gambling.com Group founders Charles and Kevin and their team to create a deeper connection with our customers to enhance their online gambling experiences,” said OddsJam founders Ankit Goyal and Alex Monahan.

Proposed Transaction Structure & Expansion of Credit Facility

The initial $80 million purchase consideration will be comprised of $70 million in cash and $10 million in Gambling.com Group ordinary shares. The Company expects to fund the $70 million cash payment from borrowings under the Company’s expanded credit facility, as described below. In order to fully achieve the additional $80 million in contingent consideration, Adjusted EBITDA derived from the Odds Holdings assets needs to at least double for the full year 2026 period compared to 2024. Entirely at the Company’s discretion, Gambling.com Group has the ability to settle up to 50% of any of the contingent consideration payments in the Company’s ordinary shares.

In conjunction with the transaction, the Company entered into a debt financing commitment letter with Wells Fargo Bank, National Association and Wells Fargo Securities, LLC, which have committed to arrange and provide a senior secured term loan and revolving credit facility of at least $100 million pursuant to an amendment to its existing credit agreement.

In connection with the proposed transaction, White & Case LLP is acting as legal counsel to Gambling.com Group. Oakvale Capital LLP is acting as the sell-side financial advisor and Cruz-Abrams Seigel LLC is acting as legal counsel to Odds Holdings.

 

The post Gambling.com Group Enters into Definitive Agreement to Acquire Odds Holdings, Parent Company of OddsJam, a Fast-Growing Technology Platform for Real-time Odds Data, in Accretive Transaction appeared first on European Gaming Industry News.

George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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Adam Pentecost Joins Gaming Corps as Director of Customer Success

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Gaming Corps unveils industry veteran Adam Pentecost as new Director of Customer Success as it lays out its plans for growth in 2025.

Gaming Corps, a publicly listed game studio based in Sweden, is proud to announce the appointment of Adam Pentecost as their new Director of Customer Success. With over a decade of experience in the industry, Adam provides a proven track of helping established providers achieve growth.

Adam has been in the iGaming industry for 11 years, working in key roles for respected providers like 1X2 Network, iSoftbet, Play’n Go, IGT, and Hacksaw Gaming. In three jobs, he held Head of Commercial Account Management roles, managing a global workforce across the UK, Asia, Romania, Sweden, and Malta and reporting directly to C-suite level management and board members.

His time in the industry has seen him amass a wealth of experience in many key areas, including regulated and emerging markets, aggregation distribution, and crypto and streaming operations. He also had a deep knowledge of the constantly evolving North American landscape. These qualities will be valuable assets to Gaming Corps as they continue their global expansion strategy throughout 2025.

Adam will hit the ground running in his new role as he will be responsible for driving revenue and maximising the business performance across the board. During his first few months, he will analyse the status of key relationships, ensuring they are reaching their full potential while also formulating a strategy that will benefit the company’s rapidly growing ecosystem.

With market access and distribution at an all-time high and a dramatically expanded product roadmap emphasising innovation, Gaming Corps’ appointment of Adam Pentecost is perfectly timed to build on this momentum.

Adam Pentecost, Director of Customer Success, said: “I am excited to join Gaming Corps at such a pivotal time in their journey. It has some incredibly ambitious expansion plans, and I am eager to roll up my sleeves and help make them a reality.

“With over a decade’s worth of experience behind me, I am well aware of the challenges and opportunities that lie ahead. The team and I share a vision of what we can achieve, and I look forward to working alongside my new colleagues at Gaming Corps to help take the company to new heights.”

Alex Lorimer, Gaming Corps COO, said: “Adam’s extensive experience and proven track record make him the perfect match for Gaming Corps’ plans for 2025 and beyond. He is a respected figure within the industry, and he will be able to leverage his extensive network of contacts and industry expertise to help accelerate growth across the board. Adam is the latest piece in a collaborative jigsaw that continues to solidify our position as a leading game studio.”

The post Adam Pentecost Joins Gaming Corps as Director of Customer Success appeared first on European Gaming Industry News.

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Springbok Casino Rolls Out the Red Carpet with 25 Free Spins to Celebrate the Big 5 Oscar-Worthy Stars of the Savannah

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Springbok Casino exclusive March feature honors the cinematic brilliance of the Big 5 animals in its imagined Oscar-worthy roles. To celebrate, all players will receive 25 Free Spins on the whimsical Charms of the Forest slot throughout the month.

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The post Springbok Casino Rolls Out the Red Carpet with 25 Free Spins to Celebrate the Big 5 Oscar-Worthy Stars of the Savannah appeared first on European Gaming Industry News.

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NetBet UK bolsters casino library with addition of Swintt

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NetBet UK has continued to improve its online casino offering with the addition of Swintt as a provider, with a selection of exciting games to be made available to all UK players.

NetBet has been constantly updating and developing its games library over the years and is already in partnership with some of the world’s best providers. The providers on NetBet are renowned for producing unique and exciting games, catering for the needs of all players in a responsible and safe manner.

This newest partnership with Swintt is the latest move from NetBet in their mission to create and maintain the best online gaming experience.

Swintt is an award-winning software developer with a rich and varied portfolio of games, with classic-themed releases and modern-looking slots which NetBet customers in the UK are sure to enjoy.

Popular games from Swintt’s amazing library include I Hate Fairytales, Clash of Heroes and Law of Gilgamesh.

Claudia Georgevici, NetBet PR manager, said: “We are thrilled to introduce Swintt to our players and offer a selection of its finest games to those of you who have not yet experienced what they have to offer. This partnership with Swintt demonstrates the importance we place on offering our customers the most diverse and dynamic experience, which has become our trademark.”

David Mann, CEO at Swintt, said: “I am so excited to continue our partnership with NetBet, who share our passion for pushing the boundaries of the iGaming world. This partnership also strengthens our commitment to responsible gaming, as we strive to transport customers to a new and exciting world with our range of slot machines.”

The post NetBet UK bolsters casino library with addition of Swintt appeared first on European Gaming Industry News.

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