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Gambling.com Group Reports Second Quarter 2024 Results and Raises 2024 Guidance

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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 second quarter ended June 30, 2024. The Company also raised its 2024 revenue and Adjusted EBITDA guidance as detailed below.

“Our second quarter and year-to-date results highlight the incredible power of our high-intent audience and the clear value we create for our online gambling operator clients. Our team’s proven ability to dynamically manage our owned and operated assets to quickly address changes to the operating environment was evident in the second quarter’s strong topline and Adjusted EBITDA growth, and will continue to benefit us in the future,” commented Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group. “As we continue to execute at a high level, expand our footprint in the online gambling ecosystem and leverage industry growth opportunities, we continue to see a clear path towards our goal of $100 million in annual Adjusted EBITDA. Our significant share repurchase activity in the first half of this year underscores our confidence in the future of the business.”

Elias Mark, Chief Financial Officer of Gambling.com Group added, “Our second quarter performance was driven by our team’s faster than expected re-calibration of our portfolio, leading to accelerated performance of our owned and operated assets. Year-over-year second quarter revenue and Adjusted EBITDA growth of 18% and 19%, respectively, reflect very strong delivery of iGaming NDCs across Europe, including the United Kingdom, as well as resiliency in our North American business, against a challenging comparative prior-year period.”

Second Quarter 2024 and Recent Business Highlights

-Delivered more than 108,000 new depositing customers (“NDCs”)

-Completed highly accretive acquisition of Freebets.com and related assets on April 1st, and made the initial consideration payment of $20.0 million

-Repurchased 833,770 shares at an average price of $8.17 per share. Subsequent to the end of the second quarter, repurchased an additional 798,061 shares at an average price of $8.87 per share

-Made final deferred consideration payment of $13.6 million for BonusFinder.com

-Drew $18.0 million on the credit facility

-Authorized an additional $10.0 million for the Company’s share repurchase program on August 14th

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Second Quarter 2024 Results Compared to Second Quarter 2023

Revenue rose 18% year-over-year to a second quarter record $30.5 million. The Company delivered more than 108,000 NDCs to customers, an increase of 19% year-over-year, even as the year-ago period benefited from atypically strong growth in U.S. sports betting NDCs, which did not recur this year.

Gross profit increased 16% to $29.1 million, including a $0.5 million increase in cost of sales related to the Company’s media partnerships.

Total operating expenses decreased 15% to $20.8 million, reflecting the elimination of fair value movement in contingent consideration and a modest decrease in general and administrative expenses, partially offset by increases in sales and marketing and technology expenses.

Net income attributable to shareholders rose from $0.3 million to $6.9 million and net income per share rose from $0.01 to $0.19. Adjusted net income increased 13% to $7.4 million and adjusted net income per share increased 18% to $0.20.

Adjusted EBITDA was $11.2 million, reflecting an Adjusted EBITDA margin of 37% as compared to Adjusted EBITDA of $9.4 million and an Adjusted EBITDA margin of 36%, in the year-ago period.

Operating cash flow of $0.2 million included $7.2 million for the final deferred consideration payment for the acquisition of BonusFinder. Absent the deferred consideration payment, operating cash flow would have been $7.4 million. Free Cash Flow was $6.0 million compared to $8.7 million in the year-ago period reflecting working capital movements and increased capital expenditures.

2024 Outlook

Gambling.com Group today updated its 2024 full-year revenue and Adjusted EBITDA guidance. The Company now expects full year revenue of $123 million to $127 million and Adjusted EBITDA of $44 million to $47 million. The midpoints of the new full year revenue and Adjusted EBITDA guidance ranges represent year-over-year growth of 15% and 24%, respectively. The Company’s updated outlook compares to the guidance provided on May 16, 2024 for revenue of $118 million to $122 million and Adjusted EBITDA of $40 million to $44 million.

The Company’s guidance assumes:

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  • No additional North American markets come online over the balance of 2024
  • Apart from the completed acquisition of Freebets.com and related assets, no benefit from any additional acquisitions in 2024
  • Full year cost of sales of approximately $6.5 million, of which $3.7 million was incurred in the first half of 2024
  • An average EUR/USD exchange rate of 1.09 throughout 2024

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Ariva Serviced Residences Unveils Exclusive Offer Ahead of 2025 World Series of Poker

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In honor of the upcoming 56th annual World Series of Poker, Ariva Serviced Residences, the official luxury apartments of the Las Vegas Raiders and Las Vegas Aces, has unveiled an exclusive offer to those looking for an extended stay of 31 days or more.

Conveniently located just minutes from the action on South Las Vegas Boulevard, Ariva Serviced Residences is offering guests 10% off their stay from today through July 16. In addition, guests who sign up during this time frame will receive a $200 UberEats gift card to fuel guests between hands.

The luxurious selection of premium serviced residences come equipped with extensive, full-service amenities that create an exclusive atmosphere for guests. Each residence comes fully furnished, with luxurious amenities such as Frette linen, Matouk terry, Grown Alchemist bath products, Smart TVs, Nespresso machines, high-end appliances, refrigerators stocked with the basics and weekly housekeeping services. Residences range in size from one, two and three-bedroom serviced apartments to lavish, multi-bedroom penthouses.

“We are excited to present this special offer to attendees of the 56th annual World Series of Poker. Ariva Serviced Residences provides a restful, upscale retreat just minutes from the excitement of the tournament, making it perfect for players, fans and executives visiting for the event,” said Sylvia Wong, director of WTI, Inc., the owner of Ariva Serviced Residences.

Ariva Serviced Residences also offers access into all amenities on the property that includes a 24-hour business center, a newly-opened Sky Deck and Sky Lounge with surrounding views of the mountains, a pet park, a state-of-the-art fitness center, a Zen garden, four resort-style pools (three of which are heated), two spas and so much more.

To reserve an upscale residence at Ariva for this year’s annual poker event, call or text 702-820-1266 or email [email protected].

For more information on this offer, please visit arivaservicedresidences.com/offers.

 

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Equiom appoints Vicky Stables as Managing Director of Jersey office

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Equiom is pleased to announce the promotion of Vicky Stables to the role of Managing Director of its Jersey office, marking a significant milestone in the Group’s ongoing growth and leadership evolution.​

Vicky joined Equiom in April 2024 as Head of Private Wealth and Family Office – Jersey, bringing over 25 years of fiduciary experience. In this role, she has built strong relationships across the team and developed a deep understanding of the firm’s operations, values, and clients. Her appointment reflects Equiom’s commitment to recognising internal talent and promoting from within.​

In her new role as Managing Director, Vicky will lead the Jersey office, which offers a broad range of services including Corporate Services, Private Wealth, Family Office, and Employee Retirement and Reward Services. Her extensive experience in managing relationships with high net worth and ultra high net worth clients, particularly in Asia and the Far and Middle East, positions her well to guide the office through its next phase of growth.

Vicky is an Associate of the Corporate Governance Institute, a Chartered Manager of the Chartered Management Institute, and holds certificates in Islamic Finance and Offshore Administration. She has been recognised as a Citywealth IFC Powerwoman and Future Leader, highlighting her significant contributions to the industry.​

“I am proud to take on the role of Managing Director for Equiom’s Jersey office,” said Vicky Stables. “Over the past year, I’ve had the privilege of working with a talented team and engaging with our valued clients. I look forward to leading our Jersey office as we continue to expand our services and uphold the high standards that Equiom is known for.”​

Jon Jennings, CEO of Equiom Group, commented: “Vicky’s promotion is a testament to her leadership and the depth of experience she brings to our organisation. Her appointment aligns with our strategic focus on growth and our commitment to nurturing talent from within. I am confident that under Vicky’s leadership, our Jersey office will continue to thrive and deliver exceptional service to our clients.”​

This appointment follows a series of strategic senior hires in Jersey, including the addition of Mark Lindsay as Head of Employee Retirement & Reward Services and Natalie McGinness as Director within the same team, as well as Sarah Cobden as Head of Corporate Services – Jersey and Vanessa Blanchet as Executive Director, Corporate Services – Jersey. These appointments underline Equiom’s commitment to strengthening its leadership team and expanding its service offerings in key areas.

 

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SCCG Announces Partnership with FLI Golf

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SCCG Announces Partnership with FLI Golf

 

SCCG Management, a global leader in advisory services for the gaming and sports industries, has announced a strategic partnership with FLI Golf, the groundbreaking professional disc golf league redefining the sport for a new generation of fans, athletes, and bettors.

FLI Golf has quickly established itself as the most innovative and dynamic force in disc golf. By transforming traditional gameplay into a high-energy, broadcast-ready format—with structured halves, halftime analysis, and thrilling par-3 courses—the league has created a product that captivates spectators and resonates with modern sports culture. With a global roster of elite talent from the US, Estonia, Finland, and Laos, FLI Golf delivers competitive intensity, record-breaking prize pools, and a clear vision for what disc golf can become on the world stage.

The league currently owns all its teams and boasts the most talented athlete lineup in the sport. With events hosted at premier venues across the country and a rapidly growing fan base, FLI Golf is poised to franchise the league and scale globally. At the heart of its future expansion is a robust database of player statistics—designed not only to drive fan engagement but also to power highly accurate, competitive betting lines that elevate the sport’s betting potential.

To support this next phase of growth, SCCG Management will provide full-spectrum advisory services, including business development, capital raising, and the sourcing of strategic sponsors and brand partnerships across the US. SCCG will also lead efforts to activate sports wagering around the league, facilitating introductions to leading technology providers and sportsbook operators while guiding regulatory readiness.

One of the most exciting elements of this partnership is SCCG’s work to integrate FLI Golf into the Tribal gaming ecosystem. With decades of deep relationships in Tribal markets and across brick-and-mortar casino properties, SCCG will work to bring live FLI Golf experiences to casinos across the US—unlocking a powerful new category of in-person entertainment and sports betting activation.

“We couldn’t be more excited to welcome SCCG as our strategic partner. Their deep expertise in sports and gaming, along with their global network of partners and investors, gives FGL the backing it needs to change the game for professional disc golf and bring a bold new vision to life,” said Andrew Panza, CEO and Tour Director of the FLI Golf League.

“FLI Golf has created something truly special—a disruptive, fan-first league that’s built for the modern sports landscape. We see massive potential in their model, not only as a sport, but as an entertainment platform that aligns perfectly with the future of wagering, data, and tribal casino partnerships. This is just the beginning,” said Stephen Crystal, Founder and CEO of SCCG Management.

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