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Gambling.com Group Reports First Quarter 2022 Financial Results

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  • 70% Revenue Growth with Record Revenue and Adjusted EBITDA
  • Reiterates full year outlook revenue of $71-76 million and Adjusted EBITDA of $22-27 million in 2022

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 active in the global online gambling industry, today announced its operating and financial results for the first quarter ended March 31, 2022.

“Our core business performed brilliantly in the quarter, driving record revenue and Adjusted EBITDA performance. This very strong underlying growth together with the acquisitions of RotoWire.com and BonusFinder.com, propelled Q1 2022 revenue 70% past our previous best quarter” said Charles Gillespie, Chief Executive Officer and Co-founder of Gambling.com Group, “Our current primary strategic objective is to rapidly grow our business in the U.S. market, which is exactly what we did in the quarter – while also delivering high margins despite the continuous investments in the business to position us for further U.S. growth. We continue to believe that the affiliate model offers American and international online gambling operators the most effective and reliable way to spend their marketing budgets, and we look forward to another record year for the Group.”

First Quarter 2022 vs. First Quarter 2021 Financial Highlights
(in thousands, USD, except per share data, unaudited)

THREE MONTHS ENDED
MARCH 31,

2022 to 2021
CHANGE

2022

2021

$

%

Revenue

19,585

11,517

8,068

70

%

Adjusted EBITDA

7,187

7,117

70

1

%

Adjusted EBITDA margin

37

%

62

%

(25

)%

Cash flow from operations

3,586

6,740

(3,154

)

(47

)%

Free cash flow

1,374

6,397

(5,023

)

(79

)%

Net income for the period attributable to the
equity holders

4,488

4,466

22

0

%

Net income per share for the period attributable to the
equity holders, diluted

0.12

0.14

(0.02

)

(15

)%

First Quarter 2022 Highlights

  • North American revenue grew 544% to $10.6 million
  • Delivered 67,000 new depositing customers
  • Closed the acquisitions of RotoWire.com and BonusFinder.com
  • Successful new market launches in New York and Louisiana
  • Strong organic revenue growth led by North America, complemented by growth from acquisitions
  • Strong start to the recently announced McClatchy media partnership
  • Subsequent to quarter end, successful new launch in Ontario

Elias Mark, Chief Financial Officer of Gambling.com Group, added, “We saw our accelerated investments in the business during the second half of 2021 start to pay off, and grew revenue 70% to deliver the best quarterly performance in the Group’s history. The record performance was driven by exceptionally strong growth in North America, particularly in New York, and very solid results in the United Kingdom and Ireland measured against our previous best quarter. Strong underlying organic growth is complemented by our recent acquisitions, which were all performing in-line with, or better than, our initial expectations. We continue to expect another record year for the Group and reiterate our full year guidance.”

2022 Outlook

For the fiscal year 2022. based on currently available information, we estimate:

  • Total revenue will be in the range of $71 million and $76 million; and
  • Adjusted EBITDA will be in the range $22 million and $27 million

This release contains certain non-IFRS financial measures, such as EBITDA, Adjusted EBITDA, Adjusted EBITDA Margin and free cash flow, and related ratios. 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.

Conference Call Details

Date/Time:

Tuesday, May 31, 2022, at 9:00 am EDT

Webcast:

https://www.webcast-eqs.com/register/gamb20220531/en

U.S. Toll-Free Dial In:

877-407-0890

International Dial In:

+1-201-389-0918

To access the call, please dial in approximately 10 minutes before the start of the call. An accompanying slide presentation will be available in PDF format within the “News & Events” section of the Company’s website.

An archived webcast of the conference call will also be available in the News & Events section of the Company’s website at gambling.com/corporate/investors/news-events.

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Scientific Games Commemorates Official Ribbon-cutting for Advanced Instant Scratch Game Production Technology at Global Headquarters

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Scientific Games Commemorates Official Ribbon-cutting for Advanced Instant Scratch Game Production Technology at Global Headquarters

 

Scientific Games celebrated highly advanced new instant scratch game production technology with a ribbon cutting at the company’s metro Atlanta global headquarters. The new high-definition technology, which completes Scientific Games’ recent USD$65 million investment in instant game production technology at its facilities worldwide, is officially producing scratch games for the company’s global lottery customers. The technology provides the highest, level of game security, quality and innovation in the lottery industry.

“The most important benefit this advanced technology offers our lottery customers worldwide is Scientific Games’ ability to accelerate instant scratch game innovations to excite existing and future players and deliver games faster, ultimately to help lotteries generate monies for the causes they support,” said John Schulz, President, Americas and Global Instant Products for Scientific Games.

With Scientific Games’ instant products representing 70% of global retail sales, the company supplies 114 government-regulated lotteries worldwide with scratch games – a $123.9 billion consumer product that generates an estimated $32.1 billion in funding for lottery good cause programs annually (La Fleur’s 2024 World Lottery Almanac).

“Scientific Games has invested in the most advanced instant game production technology in the lottery industry today as part of our long-term plans to serve our global lottery customers. We are committed to continued investment to evolve scratch game play for responsible consumer entertainment experiences,” said Schulz. “As a trusted supplier to the world’s government lotteries, we understand our role to help ensure their instant game business remains strong and innovative while growing responsibly to fund vital good cause programs.”

The new technology’s enhanced capabilities offer lotteries more flexibility to plan and quickly produce games featuring specialty finishes and unique playstyles, and with the same environmentally sound approach they expect from Scientific Games. The company uses recyclable paper, water-based inks and energy-efficient production processes as part of its environmental stewardship. This consciousness combined with the company’s industry-leading instant game experts allows Scientific Games to continually innovate new play experiences that entertain consumers.

“Our people are the reason Scientific Games continues to produce the top-performing scratch games in the world. They are truly experts in all aspects of the scratch game development process, starting with consumer insights that guide game design and planning, which then leads to secure programming and production, followed by robust performance measurement analytics. Their passion shines through every day and it’s why we are able to offer this advanced, new technology for our industry,” said Schulz.

Scientific Games is the largest creator, producer and manager of lottery instant games in the world. The company developed the first secure instant scratch game in 1974 and its game security has set the bar for the global lottery industry since, ensuring that no one ever knows where the winning tickets are located. Celebrating its 50th anniversary in 2023, Scientific Games has five instant game facilities on four continents.

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Latin America

Betby Forges Strategic Partnership With Latam Powerhouse Cactus Gaming

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Betby Forges Strategic Partnership With Latam Powerhouse Cactus Gaming

 

BETBY, a pioneering provider of top-tier B2B sportsbook solutions, has unveiled a strategic alliance with Cactus Gaming, a prominent iGaming platform renowned for its strong foothold in the Latin American market. This partnership heralds the integration of Betby’s advanced sportsbook into Cactus Gaming’s platform, utilizing a shared API framework. As a result, the time-to-market for Cactus Gaming’s operator partners is significantly shortened, enabling them to launch the sportsbook within a matter of days.

United by a common commitment to innovation and excellence, Betby and Cactus Gaming aspire to redefine the landscape of iGaming by setting new benchmarks for quality and pushing the boundaries of online betting. This collaboration represents a fusion of expertise, creativity, and ambition, with a collective goal to provides a first-class sports betting experience.

Chris Nikolopoulos, Betby’s CCO, said: “We are thrilled about our collaboration with Cactus Gaming, which reaffirms Betby’s dedication to partnering with industry frontrunners. This strategic alliance enables us to extend Betby’s sportsbook solution and services to Cactus Gaming’s partners, enhancing their betting experiences by granting seamless access to the most current and exceptional sports content alongside cutting-edge technology. I am confident that both companies will realize substantial long-term advantages from this partnership.”

Tiago Silva, Cactus Gaming’s CRA, said: “We are thrilled to initiate this partnership with Betby. This collaboration empowers us to harness Betby’s vast expertise and state-of-the-art sportsbook solution, enabling us to deliver the ultimate sports betting experience to our partners in Latin America and worldwide. We anticipate that this partnership will set the stage for further innovative collaborations in the future.”

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Gambling in the USA

Play’n GO announces expansion of BetMGM partnership with Pennsylvania launch

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Play’n GO announces expansion of BetMGM partnership with Pennsylvania launch

 

Swedish gaming giants’ games now live with leading US operator in Michigan, West Virginia, New Jersey, and the Keystone State

Play’n GO, the world’s leading casino entertainment provider, has today announced further expansion of its partnership with leading US operator BetMGM,with the Swedish gaming giant’s content now available with the group in Pennsylvania.

Play’n GO and BetMGM’s US partnership has already proven stunningly successful in Michigan, New Jersey, and West Virginia, and this expansion sees the partnership extend to a fourth US state. Having secured its Pennsylvanian gaming license in March, Play’n GO is now live with two operators in this key state. BetMGM players in Pennsylvania now have access to classic Play’n GO titles, such as Reactoonz.

Play’n GO is now licensed in six US states and is aiming to be active in every regulated market, in the US and around the world.

Magnus Olsson, Chief Commercial Officer at Play’n GO said: “We’re pleased to expand our partnership with BetMGM into a fourth US state, and look forward to continued success together. We have always been committed to a safe, regulation-led industry to secure a sustainable future for us all. BetMGM share our vision, and so are a perfect partner for us. We will continue our mission of being active in every regulated market around the world, and we’re excited for further growth opportunities well into the future, in the US and beyond.”

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