Canada
Gambling.com Group Third Quarter Revenue Rises 94% to $19.6 Million
Gambling.com Group Limited (Nasdaq: GAMB) (“Gambling.com Group” or the “Company”), a multi-award-winning performance marketing company and a leading provider of digital marketing services for the global online gambling industry, today announced financial results for the third quarter ended September 30, 2022.
Charles Gillespie, Chief Executive Officer and Co-founder of Gambling.com Group, commented, “Our quarterly results, including record revenue, reflect continued strength in established markets, our successful execution in the rapidly growing North American market and the benefits of our efficient operating model which drives attractive operating margins and consistent positive Adjusted EBITDA and Free Cash Flow. Third quarter 2022 revenue rose 94%, inclusive of currency headwinds, to $19.6 million; Adjusted EBITDA increased 32% to $6.4 million; and we generated Free Cash Flow of $4.9 million. In addition, new depositing customers rose 152% year-over-year in the third quarter and nearly 20% on a quarterly sequential basis.
“Our investments to expand the breadth and quality of our portfolio of performance marketing websites ahead of new North American market launches has positioned Gambling.com Group for strong performance from its first day of operations in each of these new markets. The efficacy of this strategy is evident in our strong third quarter revenue growth in North America, which increased nearly 300% year-over-year to $9.1 million. This growth reflects, in part, contributions from three new markets that have come online since Q3 2021, including a strong first month of operations in Kansas which opened on September 1. We believe our similar investments in premium domains to address markets that we expect to come online over the next several quarters, including Ohio, Maryland and Massachusetts, position the Company for similarly strong starts as these new markets formally launch. In addition to leveraging our extraordinary North American growth opportunity, we continue to grow in more established markets, as reflected by our all-time record quarterly revenue in the U.K. and Ireland. Gambling.com Group’s strong performance in both new and mature markets provides clear evidence that our performance marketing platform helps online gambling operators address their critically important goal of investing in efficient and profitable customer acquisition that delivers easily attributable and quantifiable returns.
“Our consistently strong Adjusted EBITDA and Free Cash Flow, even as we continue to invest to drive further growth, is a key differentiator for Gambling.com Group. We will continue to benefit from our proprietary technology, which offers us competitive advantages, a significant pathway for near and long-term growth in North America, a track record of delivering consistent growth in our established markets and an operating model that drives profitability. As such, we are confident in our ability to grow over the balance of this year and extend our successes in 2023 and beyond.”
Third Quarter 2022 vs. Third Quarter 2021 Financial Highlights
(in thousands, USD, except per share data, unaudited)
| Three Months Ended September 30, | CHANGE | ||||||||||
| 2022 | 2021 | $ | % | ||||||||
| Revenue | 19,649 | 10,123 | 9,526 | 94 | % | ||||||
| Net income for the period attributable to the shareholders | 2,261 | 4,675 | (2,414 | ) | (52 | )% | |||||
| Net income per share attributable to shareholders, diluted | 0.06 | 0.13 | (0.07 | ) | (52 | )% | |||||
| Adjusted net income for the period attributable to shareholders | 6,035 | 4,675 | 1,360 | 29 | % | ||||||
| Adjusted net income per share attributable to shareholders, diluted | 0.16 | 0.13 | 0.03 | 27 | % | ||||||
| Adjusted EBITDA | 6,413 | 4,870 | 1,543 | 32 | % | ||||||
| Adjusted EBITDA Margin | 33 | % | 48 | % | (15 | )% | |||||
| Cash flows generated by operating activities | 5,622 | 1,381 | 4,241 | 307 | % | ||||||
| Free Cash Flow | 4,896 | 754 | 4,142 | 549 | % | ||||||
Share Repurchase Program
The Company’s Board of Directors approved a share repurchase program pursuant to which Gambling.com Group may purchase up to $10.0 million of its ordinary shares in open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The actual number of shares to be purchased will depend upon market conditions and is subject to available liquidity, economic conditions, alternative uses for the capital and other factors. All shares purchased will be held in the Company’s treasury for possible future use. As of September 30, 2022, Gambling.com Group had approximately 36.5 million shares issued and outstanding. There is no minimum number of shares that the Company is required to repurchase, and the repurchase program may be suspended or discontinued at any time without prior notice.
Third Quarter 2022 and Recent Business Highlights
- North American revenue grew 299% to $9.1 million
- Delivered more than 68,000 new depositing customers
- Successfully launched operations in Kansas
- BonusFinder.com performed ahead of plan and RotoWire.com’s performance marketing revenues accelerated
- Won the SBC North America Sports Affiliate of the Year Award
- Subsequent to quarter end, acquired ultra-premium domain name Casinos.com
Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Our third quarter revenue and Adjusted EBITDA were ahead of analyst consensus estimates. We remain focused on investing in the business in a disciplined manner as we prioritize growth that delivers positive Free Cash Flow. The Company remains well capitalized and in a strong position to meet our 2022 full year outlook and to generate continued growth in 2023 and beyond.”
2022 Outlook
For fiscal year 2022, based on currently available information, the Company reiterates its fiscal 2022 guidance and estimates:
- Total revenue will be in the range of $71 million to $76 million
- The mid-point of this range represents year-over-year growth of 74%
- Adjusted EBITDA will be in the range of $22 million to $27 million
- The mid-point of this range represents year-over-year growth of 33%
Powered by WPeMatico
Stats Perform, the global leader in sports AI, data and technology, has announced an official data partnership with the Northern Super League (NSL). The partnership will allow world-leading Opta data to be collected live from every NSL league game for the next three years.
Beginning this month, the Northern Super League (NSL) establishes a new era in Canadian sport as the country’s first professional domestic women’s soccer league — an ambitious and transformative initiative co-founded by former Canadian international and Olympic medallist Diana Matheson. Its inaugural season kicks off on April 16 and will feature six teams who have assembled multinational player rosters with extensive club and international experience, including 100-cap Canadian internationals Desiree Scott and Quinn.
Once the action begins, detailed data from every on-ball event, including advanced AI-powered Opta Analytics metrics such as Expected Goals (xG) and Expected Assists (xA), will be captured and distributed via feeds and Stats Perform products, including OptaAI Studio. This will enable various broadcasters, publishers and rights holders to generate stories and insights throughout the NSL season and provide them straight to the league’s fans in real time.
As part of the agreement, the NSL’s League Office and every NSL club will also have access to Opta Search, part of OptaAI Studio. This will allow their content creators to leverage all Opta data collected during the NSL season in the creation of data-led stories on the stand-out performers, and will help them generate key talking points for publication on official league and club platforms. Opta Search will also empower the NSL’s media team to create a range of data visualizations, including player shot maps and touch maps, to visually illustrate the impact of different players’ on-field performances.
Christina Litz, NSL President, said: “We are thrilled to have Stats Perform on board as our official data partner. When we talk about detailed performance data in soccer, Opta is the gold standard, so we are delighted to have it powering each of our official digital channels. As the season progresses, we want to put the spotlight on all the on-field heroes who emerge and having access to world-class data will help us tell their stories and inspire a new generation of Canadian soccer fans.”
Steve Xeller, Chief Revenue Officer at Stats Perform, said: “Stats Perform has been a huge supporter of expansion leagues around the world, so we are very pleased to be partnering with NSL in the lead-up to their first domestic campaign. Seeing a fully professional women’s soccer league launch in Canada is an incredibly exciting development for the sport in North America and we see considerable potential in working proactively with the League’s Head Office to help the competition grow, using the power of AI and data-led storytelling to build fan communities across the continent.”
The post Northern Super League Partners with Stats Perform appeared first on Gaming and Gambling Industry in the Americas.
Africa
INCENTIVE GAMES SIGNS EXCLUSIVE DISTRIBUTION DEAL FOR NORTH AMERICA, EUROPE, SOUTH AFRICA AND UK WITH LIGHT & WONDER
Leading B2B games provider, Incentive Games, today announced its new agreement with premium gaming company and content provider Light & Wonder, Inc.
Through this agreement, Incentive Games will distribute its premium pay-to-play games – including new arcade-style titles – to key global regulated markets including the USA, Canada, South Africa, UK, and within Europe via Light & Wonder’s extensive operator network. Additionally, Incentive Games’ popular free-to-play content will be made available to a wider audience through Light & Wonder’s content marketplace.
The agreement brings together two industry leaders in iGaming and the strengths of both companies to deliver exceptional player experiences and elevate customer engagement.
Ahmed Baker, Chief Commercial Officer at Incentive Games said, “This agreement is a landmark moment in our company’s history. Previously, we’ve worked directly with major operators such as bet365, FanDuel, and Sky Bet. Now, we can distribute our games via Light & Wonder, an exceptional aggregator that we trust will handle our games with care.”
Steve Mayes, Senior Director of Partners at Light & Wonder, said: “We are excited to work with Incentive Games, a leader in gamification solutions. We look forward to leveraging their innovative platform and bringing their customisable crash and fast game content to all major regulated markets.”
The post INCENTIVE GAMES SIGNS EXCLUSIVE DISTRIBUTION DEAL FOR NORTH AMERICA, EUROPE, SOUTH AFRICA AND UK WITH LIGHT & WONDER appeared first on European Gaming Industry News.
With the Ottawa Senators securing a playoff spot in the NHL, ToonieBet will be there every step of the way, engaging fans with exclusive giveaways, premium entertainment, and a casino experience that mirrors the team’s energy and excitement.
The Ottawa Senators and Tooniebet, an online casino for players across Ontario, announced a partnership that will make Tooniebet the NHL team’s Official Online Casino Partner.
Tooniebet, which launched in 2024 is part of Soft2Bet – one of the world’s fastest growing iGaming turnkey solutions providers with iGaming brands around the world with a portfolio of 19 global licenses, including Ontario.
Additional highlights of the Ottawa Senators and TonnieBet partnership will include:
- In-Arena & Broadcast Branding: Digitally enhanced dashboards for home and away games
- In-rink board signage for home games
- Virtual slot signage for various games
- Digital inventory throughout the Ottawa Senators site on NHL.com
- Direct Fan Engagement: Social contests and promotions hosted on Senators’ digital platforms
- Television Broadcast Branding: Digitally enhanced rink boards for home and away games
- In-arena rink board signage for home games
Martin Ballard, VP Corporate Partnerships, Ottawa Senators stated: “We are thrilled to welcome ToonieBet as an official partner of the Ottawa Senators. Cooperating with a brand that shares our commitment to providing fans with an exceptional and trusted experience is incredibly exciting. Together, we look forward to delivering memorable moments and engaging our passionate fanbase in new and innovative ways.”
Oksana Tsyhankova, Chief Marketing Officer at Soft2Bet, commented: “Partnering Soft2Bet’s ToonieBet brand with the Ottawa Senators is a significant milestone that reinforces our strong brand presence in Ontario. In a short period, we have achieved impressive performance and retention results, with a primary focus on localised, engaging experiences for Canadian players, which makes ToonieBet truly set itself apart.”
By tapping into the Senators’ digital platforms and in-arena presence, ToonieBet will stay close to the action and connect with fans in real, engaging ways while continuing to offer a top-quality online casino experience.
ToonieBet offers a fast, localised online casino experience for players in Ottawa and across Ontario. Through this partnership, fans will have the chance to win Senators merchandise and tickets while ToonieBet grows its presence in a competitive Ontario market. With in-arena branding, regional broadcast coverage, and digital promotions, ToonieBet will be highly visible to the team’s loyal supporters.
The post Soft2Bet’s ToonieBet Partners with the Ottawa Senators as Official Online Casino Partner appeared first on Gaming and Gambling Industry in the Americas.
-
Africa4 days agoINCENTIVE GAMES SIGNS EXCLUSIVE DISTRIBUTION DEAL FOR NORTH AMERICA, EUROPE, SOUTH AFRICA AND UK WITH LIGHT & WONDER
-
Better Collective5 days ago
Network Gaming partners with Better Collective to launch pioneering gaming ecosystem
-
Asia5 days ago
Grand Korea Leisure Partners with Robotis
-
Asia3 days ago
DigiPlus Bags 7 Wins at the 2025 Asia-Pacific Stevie Awards
-
Australia3 days ago
Martin Pakula Named Chair of Crown Melbourne
-
Latest News3 days ago
SCCG Becomes Sponsor of SFT Combat
-
Compliance Updates4 days ago
Navigating Legal Frontiers: Nordic Legal’s Vision for the Finnish Gambling Market
-
Canada5 days ago
Soft2Bet’s ToonieBet Partners with the Ottawa Senators as Official Online Casino Partner
