Latest News
Gambling.com Group Third Quarter Revenue Rises 94% to $19.6 Million

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 for the global online gambling industry, today announced financial results for the third quarter ended September 30, 2022.
Charles Gillespie, Chief Executive Officer and Co-founder of Gambling.com Group, commented, “Our quarterly results, including record revenue, reflect continued strength in established markets, our successful execution in the rapidly growing North American market and the benefits of our efficient operating model which drives attractive operating margins and consistent positive Adjusted EBITDA and Free Cash Flow. Third quarter 2022 revenue rose 94%, inclusive of currency headwinds, to $19.6 million; Adjusted EBITDA increased 32% to $6.4 million; and we generated Free Cash Flow of $4.9 million. In addition, new depositing customers rose 152% year-over-year in the third quarter and nearly 20% on a quarterly sequential basis.
“Our investments to expand the breadth and quality of our portfolio of performance marketing websites ahead of new North American market launches has positioned Gambling.com Group for strong performance from its first day of operations in each of these new markets. The efficacy of this strategy is evident in our strong third quarter revenue growth in North America, which increased nearly 300% year-over-year to $9.1 million. This growth reflects, in part, contributions from three new markets that have come online since Q3 2021, including a strong first month of operations in Kansas which opened on September 1. We believe our similar investments in premium domains to address markets that we expect to come online over the next several quarters, including Ohio, Maryland and Massachusetts, position the Company for similarly strong starts as these new markets formally launch. In addition to leveraging our extraordinary North American growth opportunity, we continue to grow in more established markets, as reflected by our all-time record quarterly revenue in the U.K. and Ireland. Gambling.com Group’s strong performance in both new and mature markets provides clear evidence that our performance marketing platform helps online gambling operators address their critically important goal of investing in efficient and profitable customer acquisition that delivers easily attributable and quantifiable returns.
“Our consistently strong Adjusted EBITDA and Free Cash Flow, even as we continue to invest to drive further growth, is a key differentiator for Gambling.com Group. We will continue to benefit from our proprietary technology, which offers us competitive advantages, a significant pathway for near and long-term growth in North America, a track record of delivering consistent growth in our established markets and an operating model that drives profitability. As such, we are confident in our ability to grow over the balance of this year and extend our successes in 2023 and beyond.”
Third Quarter 2022 vs. Third Quarter 2021 Financial Highlights
(in thousands, USD, except per share data, unaudited)
Three Months Ended September 30, | CHANGE | ||||||||||
2022 | 2021 | $ | % | ||||||||
Revenue | 19,649 | 10,123 | 9,526 | 94 | % | ||||||
Net income for the period attributable to the shareholders | 2,261 | 4,675 | (2,414 | ) | (52 | )% | |||||
Net income per share attributable to shareholders, diluted | 0.06 | 0.13 | (0.07 | ) | (52 | )% | |||||
Adjusted net income for the period attributable to shareholders | 6,035 | 4,675 | 1,360 | 29 | % | ||||||
Adjusted net income per share attributable to shareholders, diluted | 0.16 | 0.13 | 0.03 | 27 | % | ||||||
Adjusted EBITDA | 6,413 | 4,870 | 1,543 | 32 | % | ||||||
Adjusted EBITDA Margin | 33 | % | 48 | % | (15 | )% | |||||
Cash flows generated by operating activities | 5,622 | 1,381 | 4,241 | 307 | % | ||||||
Free Cash Flow | 4,896 | 754 | 4,142 | 549 | % |
Share Repurchase Program
The Company’s Board of Directors approved a share repurchase program pursuant to which Gambling.com Group may purchase up to $10.0 million of its ordinary shares in open market transactions, including under plans complying with Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. The actual number of shares to be purchased will depend upon market conditions and is subject to available liquidity, economic conditions, alternative uses for the capital and other factors. All shares purchased will be held in the Company’s treasury for possible future use. As of September 30, 2022, Gambling.com Group had approximately 36.5 million shares issued and outstanding. There is no minimum number of shares that the Company is required to repurchase, and the repurchase program may be suspended or discontinued at any time without prior notice.
Third Quarter 2022 and Recent Business Highlights
- North American revenue grew 299% to $9.1 million
- Delivered more than 68,000 new depositing customers
- Successfully launched operations in Kansas
- BonusFinder.com performed ahead of plan and RotoWire.com’s performance marketing revenues accelerated
- Won the SBC North America Sports Affiliate of the Year Award
- Subsequent to quarter end, acquired ultra-premium domain name Casinos.com
Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Our third quarter revenue and Adjusted EBITDA were ahead of analyst consensus estimates. We remain focused on investing in the business in a disciplined manner as we prioritize growth that delivers positive Free Cash Flow. The Company remains well capitalized and in a strong position to meet our 2022 full year outlook and to generate continued growth in 2023 and beyond.”
2022 Outlook
For fiscal year 2022, based on currently available information, the Company reiterates its fiscal 2022 guidance and estimates:
- Total revenue will be in the range of $71 million to $76 million
- The mid-point of this range represents year-over-year growth of 74%
- Adjusted EBITDA will be in the range of $22 million to $27 million
- The mid-point of this range represents year-over-year growth of 33%
Latest News
OddsMatrix boosts sportsbook offering with US micro-markets nVenue partnership

OddsMatrix, EveryMatrix’s tier-1 sportsbook platform and odds feeds service, has agreed terms with US micro-markets provider nVenue in a mutually beneficial product partnership.
OddsMatrix will integrate nVenue’s leading micro-markets products enabling its customers to access the US market’s most popular sports including American football, basketball, baseball, ice hockey and motorsport.
As part of the agreement, nVenue will integrate OddsMatrix’s Fast Markets into its data aggregation platform, with a focus on soccer, and distribute them to its well-established customers, including major operator brands and suppliers in the US and internationally.
OddsMatrix launched Fast Markets in time for the start of the 2023-24 soccer season, enabling operators to offer a range of real-time, instant betting options across a variety of individual game moments.
Fast Markets supply leading sportsbooks with a wide range of in-game, time-driven soccer betting options, providing brands with a further revenue stream across a range of top leagues.
Micro betting, popular in the regulated US sports betting market, is a high-frequency, low-price sports betting product. It is increasingly seen as a key driver to boosting in-play wagering across several sports, creating new opportunities for operators to differentiate, while attracting a new generation of customers who favour instant entertainment, both increasing player engagement and casual player spend.
Tor Skeie, CEO, OddsMatrix, said: “Micro betting is one of the fastest growing betting formats in North America so we’re delighted to be able to provide our customers with access to one of the most innovative products available via nVenue.
“Combining both technologies and offering our fast soccer markets to their customers was a no-brainer. We’ve aligned perfectly with the nVenue team ever since we began partnership discussions and we’re looking forward to seeing the results.”
Kelly Pracht, CEO and Co-Founder of nVenue, said: “Partnering with EveryMatrix represents a key company milestone for nVenue as we expand the global reach of our micro-betting technology.
“EveryMatrix’s platform allows us to seamlessly integrate live, in-play betting opportunities, including micro-markets, into a vast international network of operators. This collaboration enables us to meet the evolving needs of bettors while delivering a new menu of well-timed, expertly priced live betting markets to customers around the world.”
Latest News
BGaming Launches a CSR Art Project in Brazil

Rapidly Expanding Content provider and renowned Art Institute in São Paulo partner up for an impactful creative project
Popular iGaming content provider BGaming is proud to announce the launch of a CSR-driven creative project in collaboration with Brazil’s A7MA Art Institute to support local artists, strengthen its ties with the community, and reinforce its commitment to cultural integration.
A7MA Art Institute is a renowned cultural space and gallery in São Paulo that brings together artists, canvases, brushes, and creative minds – united by a shared passion for amplifying contemporary art deeply influenced by street culture.
Last year, BGaming collaborated with A7MA solely on a charity project, but this year, the partnership has evolved into a major CSR-driven art project, which includes BGaming’s ongoing ‘When Art Meets Gaming’ initiative, designed to showcase the talent of local artists during industry events.
The collaboration with the renowned Art Institute in São Paulo is one of BGaming’s largest and most ambitious to date. Two leading artists from A7MA will create a unique artwork to be showcased at BGaming’s stand N80 at BiS SiGMA Americas. One artist will craft a vivid recreation of the ‘Elvis Frog in Vegas’ game character, while the second will enhance it with unique artistic elements.
In addition, a unique graffiti pattern created by A7MA artists, symbolizing Brazil’s vibrant culture, will serve as the key visual element of BGaming’s presence in São Paulo during the exhibition period.
Attendees of BiS SiGMA Americas can see the results of this collaboration firsthand, with the artwork on full display at BGaming’s stand during the event. Four A7MA artists have created exclusive artworks to be featured on gift posters and postcards for BGaming’s clients and exhibition visitors. The pieces blend Brazilian local motifs, gaming elements, and unique artistic styles. Through this initiative, BGaming continues to learn from local cultures, showcase artists’ talent, and provide them with financial support.
As part of a CSR-driven creative project, BGaming will sponsor an exhibition at the A7MA Gallery, which will run from March 22nd to April 17th. This charitable effort will provide crucial exposure for local artists, spotlighting the talent that São Paulo has to offer. It will also highlight the crucial role that young artists play in the community, with many acting as educators and helping to nurture other young artists and inspire a broader sense of creativity.
Kate Puteiko, CMO at BGaming, said: “At BGaming, we want to push the boundaries and change how people perceive the iGaming industry. Through our ‘Art Meets Gaming’ project, we continue to highlight the importance of art in local communities and the crucial roles artists play in developing local cultures. A7MA has been an absolute inspiration to work with, and we can’t wait for everyone at BiS SiGMA Americas to see the result.
Beyond the art itself, this collaboration allows us to make a real difference. By supporting local artists and launching charitable initiatives, we’re demonstrating that iGaming can be a force for positive change within the community.”
Marcos Ramos Enivo, Artist and Co-Founder at A7MA Art Institute, added: “We believe that supporting urban artists worldwide, especially those emerging from São Paulo, is essential for the growth of contemporary art. By creating spaces that give these artists visibility, we not only foster local culture but also offer a new perspective on how people see and interact with the city.
We are immensely grateful for BGaming’s continuous support of the A7MA Art Institute. This partnership has allowed us to keep bringing color and life to the city in a creative way, positively impacting the daily lives of countless people.”
Canada
Fennica Gaming Granted Supplier License for Ontario Market

Fennica Gaming has announced that it has been granted a gaming supplier license in Ontario, Canada. This milestone marks a significant step in the company’s expansion strategy, allowing it to offer its cutting-edge gaming experiences to gaming operators in one of North America’s most dynamic regulated markets.
The supplier license, granted by the Alcohol and Gaming Commission of Ontario (AGCO), enables Fennica Gaming to introduce its portfolio of entertaining and high-quality games to gaming operators across the province. This registration empowers Ontarian operators, whether online or land-based, to access the omnichannel offerings developed in the Nordics.
“We are thrilled to receive our B2B supplier license in Ontario and to offer our advanced gaming solutions to operators in the region. After a thorough application process, we can now proudly and prominently display our registration and achievement. We have followed the market in North America for a long time and Ontario is an excellent example of market that is well organized. It represents an exciting market with immense potential, and we are committed to delivering secure, entertaining, and trustworthy gaming experiences tailored to local preferences,” Timo Kiiskinen, Managing Director of Fennica Gaming, said.
Fennica Gaming’s Nordic gaming experience and heritage as an omni-channel gaming operator through its parent company Veikkaus offers a broad range of entertainment for Ontarian operators with a player-first attitude. This registration supports Fennica Gaming’s commitment to a sustainable industry, enabling operation in compliance with Ontario’s local regulatory framework.
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