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Gentoo Media delivers 16 consecutive quarters of record growth

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2024 was a transformative period for the company and after successfully completing a strategic split, the Group is well positioned as a stand-alone business to capitalise on growth opportunities and enhance its market presence

Gentoo Media Inc. presents its Q4 2024 financial report, with record-high revenue of EUR 35.9 million, up 38% year-over-year, marking the 16th consecutive quarter of growth. Full year revenue was EUR 124.5 million (an increase of 41% YoY) with  EBITDA of EUR 56.6 million representing a margin of 45%. (excluding split-related costs).

Jonas Warrer, CEO of Gentoo Media: “I am pleased to present our fourth quarter report for 2024, marking the 16th consecutive period of all-time high revenue for Gentoo Media. This sustained growth demonstrates the strength of our strategy and commitment to delivering long-term value to our shareholders”.

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Mikael Harstad, Chairman of the Board at Gentoo Media:”Gentoo Media has established itself as a major player in a global industry but still only has a small market share, presenting substantial growth opportunities. Management and the board are excited about the road ahead, further positioning the company as an industry leader in 2025 and beyond.”

Q4 2024 highlights

  • Gentoo Media reported all-time high revenues of EUR 35.9 million, up 38% YoY, of which 18% organic growth

  • EBITDA before special items reached EUR 14.3 million, an EBITDA-margin of 40%

  • EBIT reached EUR 9.8 million, with a margin of 27%

  • Quarterly value of deposits reached EUR 200 million, up 27% YoY, bringing full-year deposits to EUR 767 million

  • By Q4 Gentoo Media is now purely an affiliate-focused business after distribution of the Platform & Sportsbook division to shareholders on 30 September 2024

  • Post-split, cash flow from operations will improve, enhancing capital allocation flexibility. Gentoo Media is now better positioned to drive strong returns and investor value

  • Throughout 2024 Gentoo Media has funded Platform & Sportsbook business with EUR 46 million

Investor presentation and webcast

CEO of Gentoo Media, Jonas Warrer, will host a presentation of the Q4 2024 results via livestream at 10:00 CET today.

The presentation will be followed by a Q&A-session, and investors, analysts and journalists are welcome to participate. The presentation will be given in English.

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The post Gentoo Media delivers 16 consecutive quarters of record growth appeared first on European Gaming Industry News.

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Arizona Department of Gaming Reports $30.8 Million in Tribal Gaming Contributions for the Third Quarter of Fiscal Year 2025

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The Arizona Department of Gaming announced today $30,845,042 in tribal gaming contributions to the Arizona Benefits Fund for the third quarter of Fiscal Year 2025. This amount represents an approximate 7.9 percent increase when compared to the same quarter of FY 2024.

The Arizona Benefits Fund receives 88 percent of tribal gaming contributions, providing significant dollars to support instructional improvement in schools, trauma and emergency care, tourism, and wildlife conservation throughout the state.

Tribal gaming contributions to the Arizona Benefits Fund for the 3rd quarter of the Stateߣs FY 2025 are as follows:

Instructional Improvement Fund/Education ߝ $15,373,169

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Trauma and Emergency Services Fund ߝ $7,686,584

Arizona Department of Gaming Operating Costs ߝ $2,776,054

Arizona Wildlife Conservation Fund ߝ $2,196,167

Tourism Fund ߝ $2,196,167

Problem Gambling Education, Treatment and Prevention ߝ $616,901

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FY 25 Qtr 3 Total: Tribal Gaming Contributions to the Arizona Benefits Fund ߝ $30,845,042

Per the Arizona Tribal-State Gaming Compact, Tribes with casinos also contribute a percentage of their Class III gross gaming revenue to cities, towns, and counties. Currently, there are 26 Class III casinos in Arizona, which ADG regulates in partnership with Arizona tribes. Since the inception of tribal gaming in Arizona, over $2.34 billion in cumulative tribal contributions has been contributed to the state and its cities, towns, and counties since FY 2004.

The post Arizona Department of Gaming Reports $30.8 Million in Tribal Gaming Contributions for the Third Quarter of Fiscal Year 2025 appeared first on Gaming and Gambling Industry in the Americas.

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Charles Gillespie Chief Executive Officer and co-founder of Gambling.com Group

Gambling.com Group Reports Fourth Quarter and Full-Year 2024 Results

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2025 Guidance Mid-points Imply 35% and 40% Year-Over-Year Revenue and Adjusted EBITDA Growth

Gambling.com Group Limited, a fast-growing provider of digital marketing services for the global online gambling industry, today reported financial results for the fourth quarter and full-year ended December 31, 2024.

Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group, commented, “Our record fourth quarter and full-year results were driven by our team’s prioritization of iGaming across the markets where we operate. Our team delivered outstanding performance in the quarter, especially when compared to the launch driven results in the prior-year period. We anticipate growth and continued market share gains in our performance marketing business across all geographic regions in 2025, including North America. The consolidation of Odds Holdings, Inc. from January 1st marks the start of the Company’s next phase of growth as we layer on sports data solutions to our existing, high-growth, high-margin business. Our competitive positioning is strong across the globe.”

“We capped an active and productive year during which we set the stage for continued strong growth in 2025 and beyond,” said Mr. Gillespie. “In 2024, we extended our record of delivering full-year revenue, Adjusted EBITDA and Free Cash Flow growth with those metrics improving 17%, 33%, and 81%, respectively, year-over-year. In addition, we strengthened our product and market positioning organically as well as through the complementary, accretive acquisitions of Freebets.com and Odds Holdings. With the biggest and most talented team we have ever had and an enhanced product offering, we are making great progress towards our goal of reaching $100 million in annual Adjusted EBITDA.”

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Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Fourth quarter revenue and Adjusted EBITDA increased 9% and 39% year-over-year, respectively, and over 80% of Adjusted EBITDA converted to free cash flow, reflecting the continued success of our strategies to optimize the returns from our global portfolio of owned and operated assets. As expected, we generated strong online casino growth across all our geographical regions, while our North American business continued to be resilient against challenging comparables. As reflected in our full-year guidance, we expect to generate significant year-over-year revenue and Adjusted EBITDA growth in 2025, and we are well-positioned to carry this operating momentum forward.”

Financial Highlights Three Months Ended December 31, 2024 vs. Three Months Ended December 31, 2023

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

Three Months Ended December 31,

Change

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2024

2023

%

Revenue

35,308

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32,530

9

%

Net income for the period attributable to shareholders

7,933

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6,372

24

%

Net income per share attributable to shareholders, diluted

0.23

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0.16

44

%

Net income margin

22

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%

20

%

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

12,172

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8,622

41

%

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

0.35

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0.22

59

%

Adjusted EBITDA (1)

14,736

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10,569

39

%

Adjusted EBITDA Margin (1)

42

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%

32

%

Cash flows generated by operating activities

13,698

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7,140

92

%

Free Cash Flow (1)

13,162

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6,511

102

%

__________

(1) Represents a non-IFRS measure. See “Supplemental Information – Non-IFRS Financial Measures” and the tables at the end of this release for reconciliations to the comparable IFRS numbers.

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Fourth Quarter 2024 and Recent Business Highlights

  • Delivered more than 145,000 new depositing customers (“NDCs”)
  • Repurchased 486,312 shares at an average price of $9.80 per share
  • Won Casino Affiliate of the Year at the 2024 EGR Operator Awards
  • Completed accretive acquisition of Odds Holdings, Inc. on January 1, 2025 for initial consideration of $70 million in cash and $10 million in shares
  • Expanded credit facility to $165 million with a new syndicate

Three Months Ended December 31, 2024 Results Compared to Three Months Ended December 31, 2023

Revenue rose 9% year-over-year to a record $35.3 million. The Company delivered more than 145,000 NDCs to clients, a 9% year-over-year decrease reflecting a challenging comparison primarily due to ESPNBet’s launch in 17 markets in the 2023 fourth quarter period.

Gross profit increased 21% to $33.1 million, due to strong revenue growth and a $2.9 million year-over-year decrease in cost of sales related to the Company’s media partnerships.

Total operating expenses increased 21% to $23.3 million, primarily as a result of increased people costs and higher amortization related to the acquisition of Freebets.com and related assets.

Net income attributable to shareholders increased $1.6 million to $7.9 million and net income per share was $0.23 compared to $0.16 in the prior year period. Adjusted net income rose 41% to $12.2 million and adjusted net income per share increased 59% to $0.35.

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Adjusted EBITDA increased 39% to a record $14.7 million, reflecting an Adjusted EBITDA margin of 42% as compared to Adjusted EBITDA of $10.6 million and an Adjusted EBITDA margin of 32% in the prior-year period.

Operating cash flow of $13.7 million compared to $7.1 million in the prior-year period. Free cash flow grew 102% to $13.2 million reflecting growth in net income and Adjusted EBITDA and positive working capital movements in the quarter.

2025 Outlook

Gambling.com Group today reiterated the 2025 full-year revenue and Adjusted EBITDA guidance originally provided on February 19, 2025. The Company expects full year revenue of $170 million to $174 million and Adjusted EBITDA of $67 million to $69 million. The midpoints of the new full year revenue and Adjusted EBITDA guidance ranges represent year-over-year growth of 35% and 40%, respectively, and an adjusted EBITDA margin of 39.5%.

The Company’s guidance assumes:

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  • Incremental Adjusted EBITDA contributions of approximately $14.5 million related to the acquisition of Odds Holdings, Inc. that was completed on January 1, 2025.
  • No additional North American markets coming online over the balance of 2025. While online sports betting is expected to begin in Missouri in the second half of 2025, the Company’s guidance policy excludes any benefits from new state launches until such time as a definitive start date is announced by the appropriate regulatory body.
  • An average EUR/USD exchange rate of 1.07 throughout 2025.

Financial Highlights Full Year Ended December 31, 2024 vs. Full Year Ended December 31, 2023

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

Year ended December 31,

Change

2024

2023

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%

Revenue

127,182

108,652

17

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%

Net income for the period attributable to shareholders

30,679

18,260

68

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%

Net income per share attributable to shareholders, diluted

0.84

0.47

79

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%

Net income margin

24

%

17

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%

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

42,120

32,207

31

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%

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

1.16

0.84

38

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%

Adjusted EBITDA (1)

48,691

36,715

33

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%

Adjusted EBITDA Margin (1)

38

%

34

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%

Cash flows generated by operating activities

37,638

17,910

110

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%

Free Cash Flow (1)

41,582

23,000

81

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%

__________

(1) Represents a non-IFRS measure. See “Supplemental Information – Non-IFRS Financial Measures” and the tables at the end of this release for reconciliations to the comparable IFRS numbers.

The post Gambling.com Group Reports Fourth Quarter and Full-Year 2024 Results appeared first on Gaming and Gambling Industry in the Americas.

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Financial reports

Gambling.com Group Announces Preliminary Record 2024 Fourth Quarter Revenue of Approximately $35.2 Million, Net Income of Approximately $7.8 Million and Adjusted EBITDA of Approximately $14.7 Million

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Introduces 2025 Guidance for Revenue of $170 to $174 Million and Adjusted EBITDA of $67 to $69 Million

Will Report 2024 Fourth Quarter and Full Year Results on March 20 and Host Conference Call and Webcast

Gambling.com Group Limited, a fast-growing provider of digital marketing services for the global online gambling industry, today provided select preliminary financial results for the fourth quarter and full year periods ended December 31, 2024. In addition, the Company introduced 2025 revenue and Adjusted EBITDA guidance as detailed below.

Preliminary 2024 Fourth Quarter Results:

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  • Total revenue of approximately $35.2 million
  • Net Income of approximately $7.8 million
  • Adjusted EBITDA of approximately $14.7 million, representing an Adjusted EBITDA margin of 42%1
  • Cash flow generated by operating activities of approximately $13.6 million
  • Free Cash Flow of approximately $13.1 million1

Preliminary 2024 Full Year Results:

  • Total revenue of approximately $127.1 million
  • Net Income of approximately $30.5 million
  • Adjusted EBITDA of approximately $48.5 million, representing an Adjusted EBITDA margin of 38%1
  • Cash flow generated by operating activities of approximately $37.6 million
  • Free Cash Flow of approximately $41.5 million1

“Our preliminary, record 2024 fourth quarter and full year results surpassed expectations due to our relentless focus on execution and the ability of our global portfolio of websites to continuously drive valuable, high intent traffic to our customers in a capital efficient manner,” said Gambling.com Group co-founder and CEO, Charles Gillespie. “Our operating performance continues to be led by the strong growth trajectory and attractive unit economics of iGaming revenue across all our operating regions. As reflected in our initial revenue and Adjusted EBITDA guidance for 2025, we are confident that our great positioning will drive yet another year of record performance with impressive continued revenue, Adjusted EBITDA and Free Cash Flow growth.”

The preliminary unaudited results provided in this release are derived from preliminary internal financial reports and are subject to revision based on the Company’s procedures and controls associated with the completion of its 2024 fourth quarter and full year financial reporting.

____________________________

  1. Represents non-IFRS information. See “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.

2025 Outlook
The Company today also introduced full year 2025 guidance for revenue of between $170 million and $174 million and Adjusted EBITDA of between $67 million and $69 million.

The Company’s guidance assumes:

  • Incremental Adjusted EBITDA contributions of approximately $14.5 million related to the acquisition of Odds Holdings, Inc. that was completed on January 1, 2025.
  • While online sports betting is expected to begin in Missouri in the second half of 2025, the Company’s guidance policy excludes any benefits from new state launches until such time as a definitive start date is announced by the appropriate regulatory body.
  • An average EUR/USD exchange rate of 1.05 throughout 2025.

2024 Fourth Quarter Conference Call and Webcast

Gambling.com Group will release its 2024 fourth quarter and full year results before the market opens on Thursday, March 20, 2025, and host a conference call and simultaneous webcast at 8:00 AM ET that day. During the call, Gambling.com Group Chief Executive Officer and Co-Founder, Charles Gillespie, and Chief Financial Officer, Elias Mark, will review the Group’s financial results and provide a business update, followed by a question-and-answer session.

The post Gambling.com Group Announces Preliminary Record 2024 Fourth Quarter Revenue of Approximately $35.2 Million, Net Income of Approximately $7.8 Million and Adjusted EBITDA of Approximately $14.7 Million appeared first on Gaming and Gambling Industry in the Americas.

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