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Gambling.com Group Revenue Grows 19% to a Q3 Record of $23.5M Driven by 42% Increase in North American Revenue

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Gambling.com Group Limited, a leading provider of digital marketing services for the global online gambling industry, reported record third quarter financial results for the three months ended September 30, 2023. The Company also reiterated its guidance for 2023 full-year revenue and Adjusted EBITDA.

Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group, said: “Our third quarter results highlight our consistent performance driven by robust organic growth in North America. Even in what is traditionally a seasonally slow quarter, we grew new depositing customers 26% to surpass 86,000 which contributed to 19% revenue growth to $23.5 million, Adjusted EBITDA of $6.1 million and Free Cash Flow of $1.6 million.

“Third quarter North American revenue of $12.9 million includes significant growth in our owned assets and a break-out performance from our media partnerships at the start of the Fall sports season. Our ability to quickly scale our strategic media partnerships complements the growth from our influential owned websites. This results in consistent year-over-year market share gains in existing states even as we face tougher comparisons given the significant organic growth we have already achieved. Our strong North American growth was partially offset by a moderation in our U.K and Ireland performance following seven consecutive quarters of average revenue growth of 28% across these well-established markets. We are confident that our growth opportunities in the UK and Ireland markets will remain strong, including the expected benefit from the ramping up of our recently launched media partnership with The Independent for the U.K market.

“Gambling.com Group is expected to continue to benefit from many near- and long-term opportunities to deliver profitable organic growth. These include further market share gains in existing markets, the benefit from expected future expansions of iGaming and online sports betting in new markets in North America and around the world, our ability to scale and optimize our media partnerships and further growth in our more established European markets. We expect that our ability to leverage these revenue drivers with our business model, which generates attractive Adjusted EBITDA margins and strong Free Cash Flow conversion, will continue to increase shareholder value.”

Third Quarter 2023 and Recent Business Highlights

  • Grew North American revenue 42% to $12.9 million
  • Delivered more than 86,000 new depositing customers
  • Launched the all new Casinos.com in July
  • Successfully launched the Company’s first international media partnership in July with The Independent in the UK
  • Successfully launched operations in Kentucky just before the quarter end on September 28.

Elias Mark, Chief Financial Officer of Gambling.com Group, said: “Third quarter revenue exceeded expectations and Adjusted EBITDA was in line with expectations, reflecting the faster than anticipated acceleration of our North American media partnerships. We are very pleased with the performance of our media partnerships and we expect them to continue to be a key contributor to revenue and cash flow growth going forward. Our year-to-date revenue growth combined with our disciplined focus on capital efficiency generated Free Cash Flow for the first nine months of 2023 of $16.3 million, already exceeding our full-year 2022 level. We remain on track to deliver strong full year results as our reiterated guidance implies year-over-year revenue and Adjusted EBITDA growth of more than 30% and 50%, respectively.”

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From $400M to $1.45B: Exploring Gurhan Kiziloz’s Strategic Expansion in Online Gaming

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From $400M to $1.45B: Exploring Gurhan Kiziloz’s Strategic Expansion in Online Gaming

 

The online gaming industry has experienced exponential growth, especially in Latin America, fueled by increased internet access, progressive regulatory frameworks, and the widespread adoption of mobile gaming. At the helm of this surge is Nexus International, guided by Gurhan Kiziloz, which manages Megaposta, an online gaming platform seeing remarkable revenue growth.

In 2024, Megaposta celebrated $400 million in revenue, with forecasts predicting a rise to $1.45 billion by 2025. This substantial increase prompts a closer examination of the strategic, regulatory, and market dynamics propelling this growth, alongside a comparison with industry-wide trends.

Megaposta’s Strategic Market Positioning

Megaposta is making significant strides in the highly competitive iGaming sector, which encompasses online casinos, sports betting, and digital gaming platforms. It has primarily focused on Brazil, a market currently undergoing significant regulatory transformations, thus attracting a mix of domestic and international gaming enterprises. With the Brazilian gaming market projected to hit $2.6 billion by 2026, it remains a focal point for Megaposta’s expansion efforts.

Under the stewardship of Nexus International, Megaposta has notably amplified its marketing initiatives, enhanced its offline media footprint, and refined its strategies for acquiring users, which have all contributed to its growing market share. Though the revenue forecasts are promising, maintaining this growth trajectory will necessitate ongoing adjustments to both local regulations and evolving market competitions.

Crucial Drivers of Megaposta’s Revenue Growth

Several key factors underpin the anticipated revenue boom for Megaposta in 2025:

  • Exploiting Regional Market Opportunities 

Megaposta’s dedication to Latin America, particularly Brazil, mirrors larger industry trends. The country’s burgeoning mobile gaming scene and forthcoming regulatory approvals suggest a welcoming climate for more licensed gaming operations. Nexus International’s strategic focus in this region is a deliberate effort to leverage these regulatory developments.

  • Enhancing Marketing & Brand Visibility 

Kiziloz has prioritized marketing and brand visibility as central to Megaposta’s growth strategy. The company has invested heavily in offline media and sponsorships, employing a strategy akin to that of leading betting firms aiming to dominate in burgeoning markets. This focused approach is instrumental in expanding its user base and bolstering revenue forecasts.

  • Strategic Leadership from Gurhan Kiziloz 

Kiziloz, with his entrepreneurial prowess in fintech and gaming, has adopted a bold approach to business, characterized by high risks and potentially high rewards. After navigating financial downturns, including a 2022 bankruptcy, he strategically shifted towards online gaming—a sector with swift monetization opportunities in regions with dynamic regulatory environments. His leadership at Nexus International is centered on aggressive scaling, market expansion, and tapping into emerging trends.

Concluding Thoughts

Megaposta’s projected revenue of $1.45 billion by 2025 is in line with the ascending trends of the gaming industry in Latin America, especially Brazil. Under the aegis of Nexus International and Gurhan Kiziloz’s leadership, the company is sharply focused on expanding its market reach, intensifying marketing efforts, and strategically positioning itself within the industry. However, as the sector continues to evolve, adapting to regulatory shifts, intensifying competition, and changing consumer preferences will be essential.

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While Megaposta’s current trajectory indicates significant growth potential, the upcoming years will be critical to determine if its aggressive expansion strategy can sustain success in an increasingly dynamic market landscape.

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ELA Games Receives Nominations For Innovation at the SiGMA Americas Awards 2025

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The ELA Games team is proud to announce it has been nominated for two categories at the prestigious SiGMA Americas Awards 2025. It has been shortlisted for the “Most Played Game 2025” and “Best Game Studio 2025” categories.

Joker Cashpot is a prime candidate for the “Most Played Game 2025” category, as it was well received by players and B2B partners, garnering widespread acclaim. Upon release, it quickly became one of the company’s most popular releases, with a margin of 27.7% in Gross Gaming Revenue within its first 30 days, ranking it second in Turnover for the company.

The studio has fostered a culture of creativity and experimentation, earning it a reputation for producing player-favourite games that encourage customer engagement and business growth for partners. ELA Games’ extensive portfolio of over 45 games and operator-friendly offerings has made it a frontrunner for the “Best Game Studio 2025” category.

Yaroslav Soloshenko, ELA Games’ Business Development Manager, commented on the nominations, “It’s an honour to be recognised for these prestigious accolades, as it’s a reflection of our team’s hard work and dedication to excellence. The nominations are for significant categories, showcasing our rapid growth into an influential figure in the iGaming industry. We look forward to attending the awards ceremony, connecting with our partners and meeting new faces.”

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Casino Association of New Jersey Welcomes Back Atlantic City Airshow

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Casino Association of New Jersey Welcomes Back Atlantic City Airshow

 

The Casino Association of New Jersey (CANJ) issued the following statement regarding the announcement that the Atlantic City Airshow will be returning this summer:

“The Casino Association of New Jersey is thrilled to hear that the Atlantic City Airshow will be returning this summer. The airshow has always been a highlight during the summer season, and we look forward to celebrating this renowned event in July.

“Along with world-class gaming, exciting concerts, a replenished beach, delicious food, and an all-star lineup of entertainment options, Atlantic City is the place to be this summer.

“We want to thank New Jersey Governor Phil Murphy, Atlantic City Mayor Marty Small, CRDA Executive Director Eric Scheffler and Visit Atlantic City President and CEO Gary Musich for their efforts to bring the airshow back.”

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