Latest News
Gambling.com Group Reports First Quarter 2024 Results

Gambling.com Group Limited (Nasdaq: GAMB) (“Gambling.com Group” or the “Company”), a fast-growing provider of digital marketing services for the global online gambling industry, today reported financial results for the first quarter ended March 31, 2024. The Company also updated its 2024 revenue and Adjusted EBITDA guidance as detailed below.
“We are off to a great start to the year furthering our confidence in our ability to generate strong Adjusted EBITDA and Free Cash Flow growth this year and for years to come,” commented Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group. “The investments we have made for years in our proprietary technology, website portfolio, and accretive acquisitions are driving consistent growth. As we continue to expand our industry leadership and influence across global online gambling markets and leverage the many growth drivers we have, we see a clear road ahead to generate substantially higher Adjusted EBITDA and Free Cash Flow.”
Elias Mark, Chief Financial Officer of Gambling.com Group added, “By growing year on year in every one of our geographic reporting markets, we delivered record Q1 revenue with top line growth of 9% despite the comparable period benefiting from significantly more new state launch activity.”
First Quarter 2024 and Recent Business Highlights
Delivered more than 107,000 new depositing customers (“NDCs”)
Strong initial contribution from North Carolina following launch on March 11th
Secured new $50 million credit facility with Wells Fargo Bank, National Association
Repurchased 329,490 shares for an average price of $9.10
Completed highly accretive acquisition of Freebets.com and related assets on April 1st
Board of Directors approved an additional $10 million for the Company’s ordinary shares repurchase program in May
First Quarter 2024 Results Compared to First Quarter 2023
Revenues rose 9% year-over-year to a first quarter record $29.2 million, reflecting growth across all geographic reporting markets. The Company delivered more than 107,000 NDCs to customers, an increase of 22%.
Gross profit increased 5% to $27.0 million, including a $1.2 million increase in cost of sales related to the Gannett and Independent partnerships.
Total operating expenses increased 9% to $19.1 million, reflecting increases in sales and marketing, technology and general and administrative expenses.
Net income attributable to shareholders and net income per share rose 11% to $7.3 million and $0.19, respectively. Adjusted net income of $7.6 million and adjusted net income per share of $0.20 were flat, reflecting fair value movement related to acquisitions in the comparative period.
Adjusted EBITDA for the first quarter of 2024 was $10.2 million, reflecting an Adjusted EBITDA margin of 35% as compared to Adjusted EBITDA of $10.7 million and Adjusted EBITDA margin of 40%, in the year-ago period. The Q1 2024 Adjusted EBITDA margin reflects higher costs of sales related to media partnerships.
Operating cash flow increased 24% to $8.8 million. Free Cash Flow increased 32% to $8.2 million reflecting positive working capital movements within operating cash flow and lower capital expenditures. The Company converted 28% of revenues and 81% of Adjusted EBITDA to Free Cash Flow in the first quarter of 2024.
2024 Outlook
Reflecting changes made in early May to how Google treats commercial content on high authority websites that, at present, diminishes the effectiveness of the Company’s media partnerships, Gambling.com Group today updated its 2024 full-year revenue and Adjusted EBITDA guidance. The Company now expects full year revenue of $118 to $122 million and Adjusted EBITDA of $40 million to $44 million. This compares to the initial guidance provided on March 21, 2024, for revenue of $129 million to $133 million and Adjusted EBITDA of $44 million to $48 million. The midpoint of the updated Adjusted EBITDA outlook of $42 million reflects expected year-over-year growth of 14%.
Charles Gillespie commented, “Even with these shifts in the digital landscape, the strength and resilience of our business will enable us to deliver strong year over year Adjusted EBITDA and Free Cash Flow growth. With less competition in the search engine results pages, our owned and operated assets are better positioned for the long term than ever before.”
The Company’s guidance assumes:
Following the launch of sports betting in North Carolina on March 11th, no additional North American markets come online over the balance of 2024
Apart from the acquisition of Freebets.com and related assets, no impact from any additional acquisitions in 2024
Full year cost of sales of approximately $4.8 million, of which $2.2 million was incurred in Q1
An average EUR/USD exchange rate of 1.09 throughout 2024
To access, please dial in approximately 10 minutes before the start of the call. 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. Information contained on the Company’s website is not incorporated into this press release.
Latest News
Win Systems to showcase the future of connected gaming at the Southern Amusement & Entertainment Expo

Win Systems, a leading provider of technology for the gaming and entertainment industry, will participate in the Southern Amusement & Entertainment Expo (SAEE), which will take place on August 19–21 in Georgia, USA. This event, a benchmark for the distributed gaming market in the region, will serve as the ideal platform for Win Systems to showcase its comprehensive and cutting-edge ecosystem of solutions.
At SAEE Expo, the company will present WIGOS One, a flexible and scalable casino management system that can be seamlessly adapted to the specific requirements of the distributed gaming market in Georgia. WIGOS One enables operators to monitor and manage multiple venues and gaming terminals under a single, centralized platform, allowing real-time tracking of player activity, integration of loyalty and bonusing programs, and access to advanced analytics for strategic decision-making. The system supports the transition from anonymous play to a fully connected environment, enhancing operational control and opening new opportunities to boost player engagement and retention.
Additionally, Win Systems will present Win Up Wallet, a secure mobile solution that allows players to connect to gaming machines, access rewards, and manage their funds directly from their smartphones — eliminating the need for physical tickets or cash. In line with its digital-first approach, and in partnership with LoopPay, the company will also introduce a feature that enables players to redeem their winnings digitally through gift cards, without requiring TITO tickets or kiosks, while still offering the option to redeem traditional physical gift cards.
“We’re excited to bring our latest innovations to the SAEE Expo,” said Hunter Kampf, Country Manager USA & CANADA. “Georgia is a strategic market for distributed gaming, and WIGOS One precisely meets its unique requirements. Our connected solutions will enable operators to simplify management, reduce operational costs, and strengthen relationships with their players through real-time data and seamless digital tools.”
With a focus on integration, data-driven decision-making, and digital transformation, Win Systems continues to lead the way in offering robust and scalable solutions for today’s dynamic gaming landscape. The company’s presence at SAEE underscores its strong commitment to the U.S. distributed gaming market and its ongoing efforts to support local operators with the most advanced tools available.
Latest News
Inspired Launches V-Play Football Brazil with EstrelaBet via the Altenar Sportsbook

Inspired Entertainment, Inc., a leading B2B provider of gaming content, technology, hardware, and services, is pleased to announce the launch of V-Play Football Brazil with EstrelaBet, a leading Brazilian gamingtech company. The integration is powered by Altenar, a leading sportsbook platform provider for licensed operators around the world.
This launch marks an exciting new chapter in Inspired’s expansion across Brazil delivering its market-leading Virtual Sports content to a local, LATAM focused operator. V-Play Football Brazil, designed specifically to capture the flair, passion, and energy of Brazilian football, provides fast-paced betting action with high-frequency, ultra-realistic match simulations.
“We’re thrilled to bring V-Play Football Brazil to EstrelaBet’s customers,” said Brooks Pierce, President and Chief Executive Officer of Inspired. “Brazil has a deep-rooted passion for football, and our latest Virtual Football product is tailor-made for that audience. This launch with EstrelaBet, through Altenar’s dynamic platform, represents a powerful combination of cutting-edge technology, local insight, and premium virtual content. It’s a major milestone in our commitment to growth in Brazil.”
EstrelaBet, known for its strong brand presence in Brazil and innovative approach to player engagement, continues to invest in new ways to enhance its sportsbook offering. V-Play Football Brazil is now available at estrela.bet.br, optimized for desktop and mobile platforms, as well as the Android app.
“Inspired’s V-Play Football Brazil delivers the quality, authenticity, and excitement that our players expect,” said Fellipe Fraga, CBO (Chief Business Officer) at EstrelaBet. “The launch of this product aligns perfectly with our mission to offer customers a dynamic and differentiated sports betting experience. We’re excited to bring Brazilian fans a product that feels made just for them.”
The launch was made possible through Altenar, whose scalable and flexible sportsbook platform supports operators across more than 30 countries.
“We are proud to power this exciting launch between Inspired and EstrelaBet,” said Antonis Karakousis, Director of Operations at Altenar. “Inspired’s V-Play Football Brazil is a perfect match for the Brazilian market, and this rollout exemplifies Altenar’s ability to support rapid integration and localization of best-in-class content. We look forward to seeing strong engagement and performance from this partnership.”
Gaming
Avalanche and Helika Launch New Gaming Accelerator – Applications Now Open

The Avalanche Foundation and Helika, a leading provider of technical and creative solutions for the video games industry, have officially launched their joint video game accelerator program and opened applications for the first cohort.
The newly announced strategic partnership is designed to engage both Web3-native studios and traditional game developers exploring blockchain integration. The accelerator aims to identify and support the next generation of studios building at the frontier of blockchain-based gaming.
The program is focused on product interaction and is designed to discover, support, and fast-track promising studios and projects building on the Avalanche blockchain. It will provide selected projects with unparalleled access to resources, mentorship from industry leaders, technical support, activations, and funding opportunities for qualifying or top-performing teams.
The accelerator is open to seasoned teams building high-quality, engaging experiences across platforms, from mobile to desktop and everything in between. Projects with prior traction or cross-platform aspirations are especially encouraged to apply.
The program will run for 3 months, with virtual onboarding and IRL showcases planned across major gaming and blockchain events.
What selected teams get:
Funding & Resources: $25,000 in initial support and up to $125,000 in additional funding for qualifying or top-performing teams.
Expert Guidance: Mentorship from game veterans, blockchain experts, and industry leaders through group sessions and 1:1 consultations.
Analytics Support: Comprehensive analytics solutions to track performance, improve retention, and optimize monetization strategies.
Blockchain Integration: Dedicated assistance for integrating with the Avalanche blockchain and optimizing technical performance.
Community & Growth: Activations with partner communities and platforms and support in player acquisition, community building, go-to-market strategies.
Helika Advisory Access: Access to specialized experts from Helika’s network for tailored support.
Ecosystem Access: Direct connection to a vibrant network of developers, investors, publishers, and Web3 enthusiasts.
Showcase Opportunities: A final Demo Day event to present games to investors, publishers, and ecosystem partners.
“We are excited to partner with the Avalanche Foundation to create a world-class accelerator for Web3 gaming. Avalanche’s robust and scalable infrastructure makes it an ideal environment for innovative game development. Studios need tools that work, data that matter, and real support from people who understand what it means to build in this space — this accelerator provides all of that, plus a direct line into a powerful Web3 ecosystem,” said Anton Umnov, Founder and CEO of Helika.
“Avalanche is focused on the long game. There’s no shortage of flashy ideas. What’s missing is the support that helps studios turn those ideas into real, playable, scalable games. Avalanche has long been the go-to chain for speed and innovation, and now we’re channeling that energy into the future of gaming, supporting teams who understand the nuance of player experience, community building, and long-term value creation,” said Parker Heath, Ava Labs Gaming Partnerships Lead.
Avalanche plays host to a vibrant lineup of video games, including Off The Grid and Maple Story Universe, all pushing the boundaries of what’s possible in blockchain-powered play. Thanks to its customizable Avalanche L1s, lightning-fast transaction speeds and low fees, developers can tailor unique environments for their games without compromising on user experience.
Helika has become a cornerstone for modern game studios, equipping developers with real-time insights into player behavior, on-chain economies, and engagement metrics. From Proof of Play and Parallel to Nexon, Ubisoft, and Com2Us, Helika’s platform is shaping how developers build, balance, and scale their games in real-time. This accelerator takes that impact further by embedding support into the earliest stages of development when it matters most.
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