Connect with us

Canada

Gambling.com Group Fourth Quarter Revenue Rises 107% to $21.3 Million

Published

on

 

Gambling.com Group Limited (Nasdaq: GAMB) (“Gambling.com Group” or the “Company”), a leading provider of digital marketing services for the global online gambling industry, today announced financial results for the fourth quarter and the full year periods ended December 31, 2022.

Fourth Quarter and Full Year 2022 vs. Fourth Quarter and Full Year 2021 Financial Highlights

(in thousands, USD, except per share data, unaudited)

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Three Months Ended
December 31,

Change

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Year Ended December 31,

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Change

2022

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

2021

%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

2022

2021

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

%

Revenue

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

21,349

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

10,291

107

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

%

76,507

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

42,323

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

81

%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Net income (loss) for the period attributable to shareholders (1)

(4,409

)

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

867

(609

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

)%

2,390

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

12,453

(81

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

)%

Net income (loss) per share attributable to shareholders, diluted (1)

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

(0.12

)

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

0.02

(687

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

)%

0.06

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

0.37

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

(86

)%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Adjusted net income (loss) for the period attributable to shareholders (1)

613

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

867

(29

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

)%

14,195

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

12,453

14

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

%

Adjusted net income (loss) per share attributable to shareholders, diluted (1)

0.02

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

0.02

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

0.37

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

0.37

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

%

Adjusted EBITDA

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

6,855

2,272

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

202

%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

24,069

18,356

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

31

%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Adjusted EBITDA Margin

32

%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

22

%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

31

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

%

43

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

%

Cash flows generated by operating activities

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

6,188

1,177

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

426

%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

18,755

13,997

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

34

%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Free Cash Flow

364

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

(1,811

)

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

(120

)%

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

9,467

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

8,423

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

12

%

(1) For the three months and year ended December 31, 2022 Adjusted Net Income and Adjusted Net income per share is exclusive of, and Net Income and Net Income per share is inclusive of Adjustments related to acquisitions of $5.0 million, or $0.12 per share, and $11.8 million, or $0.31 per share. See “Supplemental Information – Non-IFRS Financial Measures” and the tables at the end of this release for an explanation of the adjustments and reconciliations to the comparable IFRS numbers.

Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group commented, “We ended 2022 extending our strong record of organic growth with quarterly revenue and Adjusted EBITDA reflecting another quarter of solid growth in our established markets and the continued strong ramp up of our North American operations. Fourth quarter 2022 revenue more than doubled year over year to $21.3 million, while our high-margin operating model helped drive a 202% increase in Adjusted EBITDA to $6.9 million. The fourth quarter results reflect a nearly 200% year-over-year and 21% quarterly sequential increase in new depositing customers to 82,000. Our investments in expanding our team, technology, and our portfolio of performance marketing websites continue to drive highly efficient and effective customer acquisition for online gambling operators. These factors, combined with our expansion into five new North American markets last year, helped drive an 81% increase in 2022 full year revenue to $76.5 million, a 31% improvement in Adjusted EBITDA to $24.1 million, and Free Cash Flow of $9.5 million.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

“Gambling.com Group’s 364% year-over-year increase in fourth quarter North American revenue to $10.0 million reflects the continued benefit from strong performance in our newest markets, including solid results from our November launch in Maryland. Further, we have seen great performance out of the gate from our Ohio launch in January and our launch in Massachusetts earlier this month. Complementing our North American growth, we also continue to demonstrate the value and benefits of our performance marketing platform in the U.K. and Ireland, where we have operated for nearly ten years, as we generated a 54% year-over-year revenue growth to $8.1 million, an all-time record for the fourth consecutive quarter.

“Gambling.com Group is positioned for continued growth in 2023 and beyond as we strategically leverage our technology and portfolio of websites which this year will include the launch of the brand new Casinos.com website. Our previously announced media partnerships with McClatchy and Gannett also position us to further deliver on our growth expectations and for our clients. We expect to generate strong organic growth in 2023 despite no current expectations for any additional North American markets coming online. By leveraging our high-yielding operating model to drive consistent profitability, we are confident that the Company can continue to drive near- and long-term growth and further enhance value for our shareholders.”

Fourth Quarter 2022 and Recent Business Highlights

  • North American revenue grew 364% to $10.0 million
  • Delivered more than 82,000 new depositing customers
  • Successfully launched operations in Maryland
  • Acquired ultra-premium domain name Casinos.com
  • Repurchased 38,708 ordinary shares for an average price of $8.98 per share
  • Won the EGR Sports Affiliate of the Year award
  • Since the start of the year, launched operations in Ohio and Massachusetts
  • In February, entered into a strategic media partnership with Gannett Co., Inc., publisher of USA TODAY

Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Our leading technology, domain names and websites, successful entry into new markets, and strong value proposition to our customers drove a more than 133% increase in new depositing customers in 2022, and yet another year of industry-leading revenue growth with continued strong profitability and cash generation. Looking ahead, we remain committed to delivering profitable growth and consistent positive operating cash flow. With our strong operating cash-flow and balance sheet, we have the financial flexibility to continue making return-focused investments in our business to deliver increased scale and attractive top-line and cashflow growth – all while maintaining strong profitability.”

2023 Outlook

The Company initiates full year 2023 guidance for revenue of $93 million to $97 million, and for Adjusted EBITDA of $32 million to $36 million. The Company’s guidance assumes:

  • No anticipation of going live in any additional North American markets for the balance of 2023
  • No benefit from any new acquisitions
  • New investments throughout 2023 for the development of Casinos.com as well as to service media partners including Gannett
  • An average EUR/USD exchange rate of 1.075 throughout 2023.

Powered by WPeMatico

Continue Reading
Advertisement

BCLC

Surrey Resident Wins Record-Breaking $80-Million Lotto Max Jackpot

Published

on

surrey-resident-wins-record-breaking-$80-million-lotto-max-jackpot

Justin Simporios is normally a sound sleeper who “can fall asleep anywhere” – but he had a very sleepless night, after learning he won an $80-million Lotto Max jackpot from the May 9, 2025 draw. This is the largest lottery jackpot ever won in B.C. and is also the largest jackpot ever won by a single individual in Canada.  

“It was 10:30 p.m.,” recalled Simporios of the moment he realized he won. “I saw that someone won $80 million in Surrey. I was joking and told my wife ‘we’re millionaires!’ and she told me to stop making that joke. After, I manually checked each number before scanning [using the BCLC Lotto! I cried and shouted, ‘we’re millionaires!’” 

The Surrey resident woke up his wife to share the news. “She was in complete disbelief and a bit mad at me because our daughter wasn’t feeling well.” Simporios’ wife luckily agreed this was a good reason to wake her.  

While still in disbelief about his win, Simporios is ultimately most excited to share his windfall with his family. “I want to help my family and my wife’s family. I’ll pay off my sister’s medical school debt and help my mom retire early – just giving my family a head start in life.”  

Giving back to the community in Surrey and B.C. is also a key priority for Simporios. “I’ve struggled before and needed help. Even if I can give an ounce of happiness, I want to help where we can. This feels like a dream.”  

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

As an avid LA Lakers fan, Simporios mentioned he would like to see LeBron James play before James retires. He also plans to visit his family in the Philippines for a family reunion. “My wife and kid have never visited!”   

On how it feels to win a record-breaking jackpot?   

“The biggest change will be having more time with my wife and family. We want to live with a purpose – to help the community around us.”  

Simporios purchased the winning ticket at the Walmart Supercentre in Central City on King George Boulevard in Surrey. 

So far in 2025, B.C. lottery players have redeemed more than $101 million from Lotto Max. Lotto Max is a nationwide lottery game drawn on Tuesdays and Fridays after 7:30 p.m. (PST).  

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

Players can purchase tickets at lottery retailers or at PlayNow.com. Winning numbers and group release forms can be found online at www.bclc.com. Players can check their lottery tickets anytime, anywhere on iOS and Android devices. Learn more about the BCLC Lotto! 

BCLC offers socially responsible gambling entertainment while generating income to benefit all British Columbians. Players can visit PlayNow.com to learn how to set time and money limits. 

The post Surrey Resident Wins Record-Breaking $80-Million Lotto Max Jackpot appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

AGCO

AGCO calls on media platforms to step up the fight against unregulated online gambling sites

Published

on

agco-calls-on-media-platforms-to-step-up-the-fight-against-unregulated-online-gambling-sites

 

The Alcohol and Gaming Commission of Ontario (AGCO) has contacted more than a dozen traditional and digital media platforms, calling on them to stop promoting unregulated online gambling and sports betting sites like Bodog to Ontario residents.

Operated by Il Nido Inc., Bodog is an offshore operator actively targeting Ontarians by advertising on popular traditional and digital media platforms. Despite blocking players in Quebec and Nova Scotia from accessing their unregulated gambling and sports betting sites, Bodog continues to allow Ontarians to access these sites while advertising heavily on traditional and digital media platforms targeting Ontarians.

Under the Gaming Control Act, 1992, Bodog and other online gambling sites are required to register with the AGCO and sign an operating agreement with iGaming Ontario in order to operate in Ontario. Ontario’s regulated igaming framework requires operators to meet comprehensive requirements related to game integrity, player protection, anti-money laundering and information privacy. Bodog’s efforts to direct Ontarians to unregulated gambling undermine player protection and other safeguards which exist in the regulated market, as well as fair market principles.

By airing ads for Bodog and other unregulated operators, legitimate media platforms are providing a veneer of legitimacy to unregulated and high-risk sites and creating confusion for Ontarians. The AGCO is therefore calling on these platforms to take a stand against the promotion of unregulated online gambling sites and remove the ads. By doing so, broadcasters and digital media companies will help reduce the risks these sites pose to Ontarians and support the long-term sustainability of Ontario’s regulated igaming market – all key objectives of the AGCO.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The AGCO will continue to work with its partners – both in Ontario and internationally – to combat these unregulated sites and protect the public.

“The AGCO is committed to protecting Ontario players and ensuring they have the safest experience by playing on regulated igaming sites. By refusing to carry advertising from unregulated and high-risk operators like Bodog, media organizations can exemplify social responsibility and play an important role in protecting Ontarians and supporting Ontario’s regulated market.”  – Dr. Karin Schnarr, Chief Executive Officer and Registrar, AGCO.

The post AGCO calls on media platforms to step up the fight against unregulated online gambling sites appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Caesars Entertainment

OLG Selects Caesars Entertainment as the Service Provider for Windsor Casino

Published

on

olg-selects-caesars-entertainment-as-the-service-provider-for-windsor-casino

 

The Ontario Lottery and Gaming Corporation has selected Caesars Entertainment as the Service Provider in the Windsor Casino procurement process. This is the final procurement process in the OLG’s land-based gaming modernization initiative.

Tom Reeg, CEO of Caesars Entertainment, said: “We are thrilled to be selected as the service provider for the Windsor Casino by the OLG. Caesars has a long history of managing Windsor and looks forward to continuing to deliver exceptional guest service and experiences at the property.”

Caesars and its predecessor companies have partnered with the OLG to operate Caesars Windsor (fka. Casino Windsor) since the opening of the temporary facility in 1994. Caesars will assume responsibility for gaming and non-gaming operations of the Windsor casino on behalf of the OLG under a 20-year operating agreement, which is expected to begin in 2026.

OLG requires an 18-month restriction on any organizational changes consistent with other gaming bundle modernizations in Ontario. Unionized employees will continue to be governed by the terms of their collective agreement.

Advertisement
European Gaming Congress 2024 (Warsaw, Poland)

The post OLG Selects Caesars Entertainment as the Service Provider for Windsor Casino appeared first on Gaming and Gambling Industry in the Americas.

Continue Reading

Trending

Get it on Google Play

Fresh slot games releases by the top brands of the industry. We provide you with the latest news straight from the entertainment industries.

The platform also hosts industry-relevant webinars, and provides detailed reports, making it a one-stop resource for anyone seeking information about operators, suppliers, regulators, and professional services in the European gaming market. The portal's primary goal is to keep its extensive reader base updated on the latest happenings, trends, and developments within the gaming and gambling sector, with an emphasis on the European market while also covering pertinent global news. It's an indispensable resource for gaming professionals, operators, and enthusiasts alike.

Contact us: [email protected]

Editorial / PR Submissions: [email protected]

Copyright © 2015 - 2024 - Recent Slot Releases is part of HIPTHER Agency. Registered in Romania under Proshirt SRL, Company number: 2134306, EU VAT ID: RO21343605. Office address: Blvd. 1 Decembrie 1918 nr.5, Targu Mures, Romania