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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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Fanatics Casino Launches with $2 Million FanCash Drop

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Fastest Growing Online Casino in America* Is Now Available in Michigan, New Jersey, Pennsylvania and West Virginia Via Desktop and Standalone App

Today, Fanatics Betting and Gaming announced the launch of Fanatics Casino on iOS and Android in Michigan, New Jersey, Pennsylvania and West Virginia. Fanatics Casino is also launching a web version today in West Virginia with Michigan, New Jersey and Pennsylvania coming soon.

To celebrate the launch of the fastest growing online casino in America, all Fanatics Casino customers can enter a sweepstakes for a chance to win a share of $2 million in FanCash**. Fanatics Casino customers can wager $10 on their favorite casino games for an entry into the sweepstakes. Every Thursday in May and June, Fanatics will draw winners and drop a share of $250,000 in FanCash into their accounts. Each week, one winner will take home the top prize of $25,000 in FanCash.

Players are invited to dive into a world of thrills as Fanatics Casino brings the casino floor directly to a customer’s fingertips, whether on-the-go or in front of a computer. Players can explore a wide array of classic and modern casino games, including slots, blackjack, roulette, progressive jackpots and video poker. Each game is crafted to deliver authentic casino action, ensuring endless entertainment.

Fanatics Casino offers a comprehensive and engaging gaming experience with the following features:

  • Offer: We are giving first time players 500 free spins for Cash Eruption over 10 days when you wager $10.***
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In an effort to deliver a world class gaming experience, Fanatics Casino has curated a portfolio of games from its in-house development team, as well as the most popular game developers in the world including:

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Fanatics Betting and Gaming is committed to responsible gaming. Fanatics Casino encourages customers to Play with A Plan using in-app tools that allow customers to set time, deposit and wager limits. Fanatics Betting and Gaming has also partnered with Birches Health to provide additional support services intended for customers with issues managing their play.

For exciting casino content please follow the Fanatics Casino social channels on X @FanaticsCasino and on Instagram @FanaticsCasino.

 

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Digital Footprints Shortlisted for Three Prestigious EGR B2B Awards

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Digital Footprints, a leading full-service iGaming marketing agency, is proud to announce its shortlisting in three major categories at the upcoming EGR B2B Awards 2025. The agency has been recognised for excellence in the following categories:

  • Marketing Services Supplier
  • Corporate Services Supplier
  • Best Customer Service

The EGR B2B Awards are widely regarded as the benchmark for performance and innovation within the online gaming industry, celebrating the very best service providers across all verticals.

“This recognition from EGR reflects the dedication, creativity, and expertise of our team,” said Sharon McFarlane, Managing Director at Digital Footprints. “Being shortlisted across three highly competitive categories not only validates the results we’ve achieved for our clients, but also showcases our commitment to exceptional service and forward-thinking strategy in the iGaming space.”

A Testament to Innovation and Service Excellence

Digital Footprints has consistently delivered high-impact marketing solutions to some of the industry’s most recognisable brands, combining data-driven strategies with creative execution to drive measurable results. The agency’s inclusion in the Marketing Services Supplier category underlines its reputation for cutting-edge campaign management, performance marketing, and brand development tailored specifically to iGaming audiences.

The Corporate Services Supplier nomination recognises Digital Footprints’ ability to deliver robust support solutions that help clients scale sustainably and compliantly in an increasingly regulated environment.

Meanwhile, the Best Customer Service shortlist position reflects the agency’s people-first approach and relentless focus on providing transparent, responsive, and personalised support to every partner.

Looking Ahead

Winners of the EGR B2B Awards 2025 will be announced at the official awards ceremony on 2nd July, where industry leaders will gather to celebrate innovation and service excellence across the iGaming ecosystem.

Digital Footprints is honoured to stand alongside the industry’s top performers and remains committed to pushing the boundaries of what’s possible in iGaming marketing.

Media Contact:
Sharon McFarlane
Managing Director
Digital Footprints
📧 [email protected]
📞 +44 7885 910 472
🌐 www.digital-footprints.co.uk

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LuckBet Launches New TV Commercial Starring Caio Castro on Sportv and Globoplay

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LuckBet Launches New TV Commercial Starring Caio Castro on Sportv and Globoplay

 

The Brazilian sports betting brand doubles down on its national presence with a humorous new campaign spotlighting customer benefits, responsible gaming, and celebrity appeal.

One of Brazil’s rising names in the online betting industry, LuckBet, has launched a new nationwide advertising campaign featuring acclaimed actor and motorsport enthusiast Caio Castro. The commercial, which blends humor with strategic brand messaging, is now airing on Globoplay and will debut on Sportv.

The witty commercial stars Caio Castro in a creative split-role talk show, where he plays both the host and the guest. While only one version of him gets to talk (the host, of course), the dialogue cleverly introduces LuckBet’s key strengths—focusing on entertainment, trust, and unique player benefits.

“Caio Castro communicates our message with natural charisma and humor, while staying aligned with our brand’s core values: entertainment, simplicity, and responsibility,” said Ivan Dutra, CEO of LuckBet. “This new commercial is fast-paced, engaging, and truly represents who we are as a company.”

LuckBet: A Responsible and Player-First Betting Platform

As the only betting operator from Mato Grosso officially listed by Brazil’s Ministry of Finance, LuckBet offers a wide range of player-centric features. These include:

  • Unlimited withdrawals

  • 24/7 humanized customer support

  • Weekly cashback on losses

LuckBet’s informal, street-smart communication style—rich in slang and expressions familiar to younger audiences—helps it stand out in Brazil’s crowded iGaming market. This distinctive approach is designed to foster a more authentic connection with bettors across all touchpoints.

Celebrity-Driven Brand With Social Impact

Since its founding in 2021, LuckBet, headquartered in Cuiabá, Mato Grosso, has rapidly grown its reputation through high-profile partnerships and sponsorships, including support for Cuiabá EC football club. Alongside Caio Castro, the brand also works with rapper PKFreestyle and sports journalist Isa Pagliari to broaden its appeal.

Importantly, LuckBet is a strong advocate for Responsible Gaming, offering tools such as self-exclusion, reality checks, and integrations with international support organizations like Gambling Therapy and GambleAware. The company adheres strictly to Brazil’s 2025 gambling regulations, operating transparently under newly defined federal guidelines.

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