GO CRAPS strategy view showing real-time roll history and flexible betting options.
Connect with us
GO CRAPS strategy view showing real-time roll history and flexible betting options.

Latest News

Gambling.com Group Limited Reports Second Quarter 2021 Financial Results

Published

on

Gambling.com Group Set to Join Russell 3000® Index

 

Gambling.com Group Limited, a leading provider of digital marketing services active exclusively in the global online gambling industry, today announced its operating and financial results for the second quarter ended June 30, 2021.

Second Quarter 2021 Financial Highlights

·         Revenue of $10.4 million; grew 66% compared to $6.3 million in the same period for the prior year

·         Net income of $2.4 million, or $0.08 per diluted share, compared to a net loss of $0.4 million, or a loss of $0.02 per diluted share, in the same period for the prior year

·         Adjusted EBITDA of $5.5 million; grew 46% compared to $3.8 million in the same period for the prior year, representing an Adjusted EBITDA margin of 53%[1]

·         Free cash flow of $3.1 million; decreased 3% compared to $3.2 million in the same period for the prior year[2]

Second Quarter 2021 Business Highlights

·         Completed redomiciliation from Malta to the Channel Island of Jersey in May

·         Successful launches of EmpireStakes.com, BetArizona.com and IllinoisBet.com which provides bettors with trusted and up-to-date state-specific gambling information to help them place safe and secure legal wagers

Advertisement
Stake - Best Online Casino & Sports Betting Platform

·         Completed acquisition of two domain portfolios suitable for targeting the US market

·         Subsequent to quarter end, completed successful public listing of common shares on the Nasdaq Global Market under the ticker symbol “GAMB”

·         Subsequent to quarter end, announced appointment of Mr. Daniel D’Arrigo to Board of Directors

“Our second quarter results (which were our first interim financial results as a public company) were highlighted by continued strong top-line growth, and, based on our Adjusted EBITDA margins, we areamong the most profitable names in the online gambling industry,” said Charles Gillespie, Chief Executive Officer and co-founder of Gambling.com Group. “Since our founding in 2006, we have built an affiliate marketing powerhouse with recognizable brands around the globe. Players trust our services to help them find a safe, fun and legal betting experience while our B2C operator clients utilize our best-in-class technology platform to support their increasingly important customer acquisition initiatives. We are incredibly excited about the next step in this journey as a public company and look forward to sharing the success with our new investors.”

Second Quarter 2021 vs. Second Quarter 2020 Financial Highlights

 

THREE MONTHS ENDED

JUNE 30,

CHANGE

2021

Advertisement
Stake - Best Online Casino & Sports Betting Platform

2020

$

%

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

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) DATA

Revenue

$

10,392

$

6,259

Advertisement
Stake - Best Online Casino & Sports Betting Platform

$

4,133

66.0

%

Operating expenses

(7,235

)

(2,997

)

(4,238

Advertisement
Stake - Best Online Casino & Sports Betting Platform

)

141.4

%

Operating profit

3,157

3,262

(105

)

(3.2

)%

Advertisement
Stake - Best Online Casino & Sports Betting Platform

Income (loss) before tax

3,027

(128

)

3,155

n/m

Net income (loss) for the period attributable to the equity holders

$

2,445

$

Advertisement
Stake - Best Online Casino & Sports Betting Platform

(428

)

$

2,873

n/m

Net income (loss) per share attributable to ordinary shareholders, basic

0.09

(0.02

)

n/m

Advertisement
Stake - Best Online Casino & Sports Betting Platform

n/m

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

0.08

(0.02

)

n/m

n/m

 

n/m = not meaningful

 

Advertisement
Stake - Best Online Casino & Sports Betting Platform

THREE MONTHS ENDED

JUNE 30,

CHANGE

2021

2020

$

%

(in thousands USD, unaudited)

NON-IFRS FINANCIAL MEASURES

Adjusted EBITDA

Advertisement
Stake - Best Online Casino & Sports Betting Platform

5,518

3,779

1,739

46.0

%

Adjusted EBITDA Margin

53.1

%

60.4

%

Advertisement
Stake - Best Online Casino & Sports Betting Platform

n/m

n/m

Free Cash Flow

3,122

3,229

(107

)

(3.3

)%

 

Advertisement
Stake - Best Online Casino & Sports Betting Platform

n/m = not meaningful

 

THREE MONTHS ENDED

JUNE 30,

CHANGE

2021

2020

Amount

%

(in thousands, unaudited)

Advertisement
Stake - Best Online Casino & Sports Betting Platform

OTHER SUPPLEMENTAL DATA

New Depositing Customers (1)

26

25

1

3.8

%

 

(1) 

We define New Depositing Customers, or NDCs, as unique referral of a player from our system to one of our customers that satisfied an agreed metric (typically making a deposit above a minimum threshold) with the customer, thereby triggering the right to a commission for us.

Advertisement
Stake - Best Online Casino & Sports Betting Platform

AS OF

JUNE 30,

AS OF

DECEMBER 31,

CHANGE

2021

2020

$

%

(Unaudited)

Advertisement
Stake - Best Online Casino & Sports Betting Platform

(in thousands, USD)

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION DATA

Cash and cash equivalents

$

17,168

$

8,225

$

8,943

108.7

Advertisement
Stake - Best Online Casino & Sports Betting Platform

%

Working capital (2)

17,203

10,059

7,144

71.0

%

Total assets

55,139

45,383

Advertisement
Stake - Best Online Casino & Sports Betting Platform

9,756

21.5

%

Total borrowings

6,062

5,960

102

1.7

%

Total liabilities

Advertisement
Stake - Best Online Casino & Sports Betting Platform

14,052

11,171

2,881

25.8

%

Total equity

41,087

34,212

6,875

20.1

Advertisement
Stake - Best Online Casino & Sports Betting Platform

%

 

(2) 

Working capital is defined as total current assets minus total current liabilities.

 

Revenue

Total revenue in the second quarter increased 66% to $10.4 million compared to $6.3 million in the comparable period in 2020. On a constant currency basis, revenue increased $3.5 million, or 52%.The increase was driven by improved monetization of NDCs that we attribute to a combination of technology improvements and changes in product and market mix. NDCs increased 4% to 26,000 compared to 25,000 in the prior year.

Our revenue disaggregated by market is as follows:

 

THREE MONTHS ENDED

Advertisement
Stake - Best Online Casino & Sports Betting Platform

JUNE 30,

CHANGE

2021

2020

$

%

(in thousands USD, unaudited)

U.K. and Ireland

$

5,410

Advertisement
Stake - Best Online Casino & Sports Betting Platform

$

3,489

$

1,921

55.1

%

Other Europe

2,822

969

1,853

Advertisement
Stake - Best Online Casino & Sports Betting Platform

191.2

%

North America

1,408

1,097

311

28.4

%

Rest of the world

752

Advertisement
Stake - Best Online Casino & Sports Betting Platform

704

48

6.8

%

Total revenues

$

10,392

$

6,259

$

Advertisement
Stake - Best Online Casino & Sports Betting Platform

4,133

66.0

%

 

Revenue increases were primarily driven by organic growth in our U.K. and Ireland, Other Europe, and North American markets.

Our revenue disaggregated by monetization is as follows:

 

THREE MONTHS ENDED

JUNE 30,

CHANGE

Advertisement
Stake - Best Online Casino & Sports Betting Platform

2021

2020

$

%

(in thousands USD, unaudited)

Hybrid commission

$

4,611

$

3,238

Advertisement
Stake - Best Online Casino & Sports Betting Platform

$

1,373

42.4

%

Revenue share commission

1,054

825

229

27.8

%

Advertisement
Stake - Best Online Casino & Sports Betting Platform

CPA commission

3,558

2,130

1,428

67.0

%

Other revenue

1,169

66

1,103

Advertisement
Stake - Best Online Casino & Sports Betting Platform

1,671.2

%

Total revenues

$

10,392

$

6,259

$

4,133

66.0

Advertisement
Stake - Best Online Casino & Sports Betting Platform

%

 

Revenue increases were driven primarily by additional Hybrid commission, CPA commission and Other revenue. The increase in Other revenue was driven primarily by bonuses related to achieving certain operator NDC performance targets in the quarter.

Our revenue disaggregated by product type from which it is derived is as follows:

THREE MONTHS ENDED

JUNE 30,

CHANGE

2021

2020

$

Advertisement
Stake - Best Online Casino & Sports Betting Platform

%

(in thousands USD, unaudited)

Casino

$

9,087

$

5,570

$

3,517

63.1

Advertisement
Stake - Best Online Casino & Sports Betting Platform

%

Sports

1,170

518

652

125.9

%

Other

135

171

Advertisement
Stake - Best Online Casino & Sports Betting Platform

(36

)

(21.1

)%

Total revenues

$

10,392

$

6,259

$

Advertisement
Stake - Best Online Casino & Sports Betting Platform

4,133

66.0

%

 

Revenue increases were driven by growth in revenue from casino and sports products.

Operating Expenses

 

THREE MONTHS ENDED

JUNE 30,

CHANGE

Advertisement
Stake - Best Online Casino & Sports Betting Platform

2021

2020

$

%

(in thousands USD, unaudited)

Sales and marketing expenses

$

3,144

$

1,598

Advertisement
Stake - Best Online Casino & Sports Betting Platform

1,546

96.7

%

Technology expenses

944

510

434

85.1

%

General and administrative expenses

Advertisement
Stake - Best Online Casino & Sports Betting Platform

3,387

875

2,512

287.1

%

Allowance for credit losses

(240

)

14

(254

Advertisement
Stake - Best Online Casino & Sports Betting Platform

)

n/m

Total operating expenses

$

7,235

$

2,997

4,238

141.4

%

Advertisement
Stake - Best Online Casino & Sports Betting Platform

 

n/m = not meaningful

Total operating expenses increased by $4.2 million to $7.2 million compared to $3.0 million in the prior year. On a constant currency basis, operating expenses increased by $3.9 million to $7.2 million compared to $3.3 million in the prior year.

Sales and Marketing expenses totaled $3.1 million, an increase of $1.5 million compared to 2020, driven by increased wages and salary expenses associated with increased headcount as well as investments in the Company’s organic growth initiatives.

Technology expenses totaled $0.9 million compared to $0.5 million in 2020, mainly the result of higher wages and salary expense associated with increased headcount partially offset by capitalized development costs.

General and Administrative expenses totaled $3.4 million compared to $0.9 million in the prior year, mainly driven by non-recurring expenses related to the public offering totaling approximately $1.5 million and the expansion of the senior management team.

Earnings

Adjusted EBITDA increased by 46% to $5.5 million compared to $3.8 million in the prior year representing an Adjusted EBITDA margin of 53%.

Operating profit in the second quarter decreased 3% to $3.2 million compared to $3.3 million in 2020. Operating profit was affected by non-recurring expenses related to the public offering totaling approximately $1.5 million.

Net income in the second quarter totaled $2.4 million, or $0.08 per diluted share, compared to a net loss of $0.4 million, or a loss of $0.02 per diluted share, in the prior year. The increase was the result of significant growth in pre-tax income compared to the prior year.

Advertisement
Stake - Best Online Casino & Sports Betting Platform

Free Cash-flow

Total cash generated from operations of $4.7 million increased 47% compared to $3.2 million in the prior year. The increase was driven by improved operating profit and net income compared to the prior year. Free cash flow, totaled $3.1 million compared to $3.2 million in the prior year. The decline was the result of increased capital expenditures consisting primarily  of the acquisition of two domain portfolios, partially offset by the increase in cash generated from operations.

Balance Sheet

Cash balances as of June 30, 2021 totaled $17.2 million, an increase of $9.0 million compared to $8.2 million as of December 31, 2020. Working capital as of June 30, 2021 totaled $17.2 million, an increase of $7.1 million compared to $10.1 million as of December 31, 2020.

Total assets as of June 30, 2021 were $55.1 million compared to $45.4 million as of December 30, 2020. Total borrowings, including accrued interest, totaled $6.1 million compared to $6.0 million as of December 31, 2020. Total liabilities stood at $14.1 million compared to $11.2 million as of December 31, 2020.

Total equity as of June 30, 2021 was $41.1 million compared to $34.2 million as of December 31, 2020.

2021 – 2023 Financial Targets

Total Revenue Growth

˃ Average 40%

Adjusted EBITDA Margin[3]

Advertisement
Stake - Best Online Casino & Sports Betting Platform

≥ Average 40%

Leverage[4]

< Net Debt to Adjusted EBITDA 2.5x[5]

2021 Outlook

Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Our financial results for the second quarter came in at the high end of our previously provided ranges as we reported strong growth in revenue, adjusted EBITDA, and net income compared to the prior year. We also continue to produce strong free cash flow and weremain in a solid financial position after the public offering last month. We are carrying encouraging momentum into the second half of the year. As a result, we are expecting to achieve or exceed our Revenue Growth target and Adjusted EBITDA margin target for the full year 2021 before the effects of any acquisitions and without incurring further borrowings.”

Conferences

PIN-UP Global to Participate in IGB L!VE London

Published

on

PIN-UP Global to Participate in IGB L!VE London

 

International iGaming holding PIN-UP Global will participate in IGB L!VE, one of the industry’s premier events taking place July 2-3 in London. Booth K40, spanning 168 square meters, will feature two distinct zones – PIN-UP Global and PIN-UP Partners. The holding will create valuable networking opportunities for industry professionals.

Visitors to the PIN-UP Global booth will have the opportunity to meet with the holding’s teams to explore the B2B portfolio designed to boost operational performance and drive business growth in the iGaming sector. The holding’s team will focus on growing its partner network and demonstrating the company’s latest technological developments.

PIN-UP Global team will be on hand throughout the event to explore potential investment opportunities and discuss partnerships with promising startups. The holding continues to identify and support promising teams developing innovative solutions in MarTech, iGaming, FinTech, AI/ML, and analytics.

PIN-UP Partners is joining iGB Affiliate London with top-performing offers, exclusive merch, and proven partnership models. Recognized as the Best iGaming Affiliate Program by AW’2024, MAC’2024, and SiGMA’22, PIN-UP Partners team is ready to build strong, long-term partnerships.

For industry professionals seeking new career opportunities, HR representatives from PIN-UP Global will be present at the event. Interested candidates can book meetings to discuss current openings within the international holding.

With the holding growing rapidly — a remarkable 58% just over the past year — new opportunities and prospects are opening up every day, both for existing team members and for those looking to join. As a result, the holding is actively seeking strong specialists for managerial positions, as well as professionals in tech, marketing, media buying, and more. Visit our booth to become part of the PIN-UP Global team.

For convenient meeting scheduling with holding representatives, exhibition delegates can use the touchscreen booking system and conduct meetings in specially equipped meeting rooms.

PIN-UP Global welcomes all IGB L!VE London attendees – industry experts, potential partners, and talented professionals – to connect with their team during the event to discuss tech solutions, collaboration opportunities, and career prospects.

PIN-UP Global is an international iGaming holding company specialising in developing and implementing advanced technologies, B2B solutions, and innovative products for the iGaming industry.

Advertisement
Stake - Best Online Casino & Sports Betting Platform
Continue Reading

Compliance Updates

BETBY ACHIEVES GLI CERTIFICATION FOR PERU, EXPANDING ITS FOOTPRINT IN LATIN AMERICA’S REGULATED MARKETS

Published

on

BETBY ACHIEVES GLI CERTIFICATION FOR PERU, EXPANDING ITS FOOTPRINT IN LATIN AMERICA’S REGULATED MARKETS

 

BETBY, a top-tier sports betting supplier, has received certification from Gaming Laboratories International (GLI) to provide its sportsbook solution in Peru’s regulated market. This certification marks another significant milestone in BETBY’s continued expansion across Latin America.

With the Peruvian government formalizing its regulated sports betting framework, GLI certification has emerged as a crucial requirement for providers aiming to serve licensed operators in the country. BETBY is now authorized to deliver its innovative and tailored sportsbook solutions in Peru’s rapidly expanding regulated betting market.

GLI’s certification, recognized as a benchmark for excellence, validates BETBY’s ability to meet Peru’s strict technical requirements, including those related to sportsbook functionality, information security management systems, and information security standards. Peru’s regulatory framework is primarily based on GLI-33 certification, which BETBY successfully achieved in early 2025. As a result, the company was well-positioned to swiftly meet the country’s compliance standards.

“Peru represents a key step in our broader Latin American growth strategy, as the region continues to adopt clearer regulatory frameworks for online sports betting,” said Ilze Ramolina, Head of Legal & Compliance at BETBY. “Securing GLI certification for this market, which has a growing digital infrastructure and tech-savvy audience, allows us to support licensed operators in launching compliant and competitive offerings from day one. This is yet another step forward in our mission to deliver tailored, localized solutions that meet both local requirements and regional expectations across the region.”

This achievement follows BETBY’s previous certification for the Brazilian market, solidifying its presence in two of Latin America’s most promising jurisdictions. The supplier’s flexible and highly localised sportsbook platform, combined with its commitment to compliance, positions it as a trusted partner for operators looking to thrive in newly regulated environments.

By entering the Peruvian market, BETBY continues to demonstrate its strategic focus on Latin America, providing hyper-localized, engaging, and secure sports betting experiences for both operators and players.

To find out more about BETBY, visit: https://betby.com/

Continue Reading

Canada

Thunderkick’s portfolio makes Ontario debut through SkillOnNet brands

Published

on

Global entertainment brand SkillOnNet is deepening its existing partnership with Stockholm-based game studio Thunderkick to launch the developer’s unique, engaging slot titles in Ontario.

The Canadian province is one of the most exciting regulated markets in North America, and the Ontario players will now gain access to Thunderkick’s full portfolio of highly acclaimed games via SkillOnNet-powered online casino brands such as PlayOJO, SlotsMagic, and SpinGenie.

Thunderkick is known for its independent, boundary-pushing slot games like Pink Elephants, Esqueleto Explosivo, and Beat the Beast and has established a strong reputation for creativity and originality in the iGaming space. The deal allows the studio to further expand its global footprint while giving Ontario players the chance to enjoy a fresh wave of premium content.

Ontario’s regulated online gaming market, which officially opened in 2022, has quickly become a key market for the iGaming industry, and SkillOnNet was among the first brands to secure licensing in the province. The expansion reinforces SkillOnNet’s commitment to delivering top-tier entertainment in regulated markets globally.

Jani Kontturi at SkillOnNet said: “Thunderkick has been a key partner of ours in other markets, and we’re delighted to bring their outstanding content to Ontario. This region is fast becoming a vital part of our operations, and we’re confident players here will respond just as positively to Thunderkick’s games as they have elsewhere.”

Mariam Dodosh, Account Manager at Thunderkick said: “We’re thrilled to expand our relationship with SkillOnNet and enter the Ontario market together. Our games have a track record of strong performance, and we’re excited to see them go live in one of the most dynamic new regions in iGaming.”

Continue Reading

Trending

GamingAmericas.com (part of HIPTHER) is your one-stop portal for the latest news, insights, and analyses in the gaming industry across the Americas. From legislative updates and market trends to interviews with industry leaders, we provide a comprehensive look at the dynamic landscape of both online and land-based gaming. Whether you're a stakeholder looking to stay ahead of the curve or a gaming enthusiast eager for reliable updates, GamingAmericas.com has got you covered. Follow us on social media and subscribe to our newsletter for real-time updates and exclusive content. Make informed decisions and stay ahead in the game with GamingAmericas.com.

Disclaimer: All the information provided is for educational and entertainment purposes only. Always check your local laws before participating in any gaming activities.

Copyright © 2018 – 2025, HIPTHER. All Rights Reserved.