Financial reports

Detroit casinos report $108.35M in November revenue

Published

7 months ago

December 17, 2024

Detroit casinos report $108.35M in November revenue

The three Detroit casinos reported $108.35 million in monthly aggregate revenue (AGR) for the month of November 2024. Table games and slots generated $106.44 million and retail sports betting generated $1.91 million.

The November market shares were:

MGM, 46%
MotorCity, 31%
Hollywood Casino at Greektown, 23%

Monthly Table Games, Slot Revenue, and Taxes
The casinos’ revenue for table games and slots for the month of November 2024 increased 40.1% when compared to the same month last year. This remarked increase is due in part to when casino employees went on strike¾which began in October 2023 and lasted through most of the month of November 2023¾causing AGR totals to be lower than normal. November’s monthly revenue was 2.7% higher when compared to the previous month, October 2024. From Jan. 1 through Nov. 30, the Detroit casinos’ table games and slots revenue increased by 5.6% compared to the same period last year.

The casinos’ monthly gaming revenue results all increased compared to November 2023:

MGM, up 60.6% to $49.21 million
MotorCity, up 34.0% to $33.06 million
Hollywood Casino at Greektown, up 16.8% to $24.17 million

In November 2024, the three Detroit casinos paid $8.6 million in gaming taxes to the State of Michigan. They paid $6.2 million for the same month last year. The casinos also reported submitting $13.2 million in wagering taxes and development agreement payments to the City of Detroit in November.

Monthly Retail Sports Betting Revenue and Taxes
The three Detroit casinos reported $20.99 million in total retail sports betting handle, and total gross receipts totaled $1.9 million for the month of November. Retail sports betting qualified adjusted gross receipts (QAGR) were down by $1.2 million in November when compared to November 2023, and up by $2.7 million when compared to October 2024.

November QAGR by casino was:

MGM: $457,409
MotorCity: $571,059
Hollywood Casino at Greektown: $886,249

During November, the casinos paid $72,376 in gaming taxes to the state and reported submitting $88,460 in wagering taxes to the City of Detroit based on their retail sports betting revenue.

Fantasy Contests
For October 2024, fantasy contest operators reported total adjusted revenues of $991,881 and paid taxes of $83,318.

Related Topics:Detroit casinos MGCB MGM Michigan Gaming Control Board

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Financial reports

PA Gaming Control Board Reports a Nearly 11% increase of Gaming Revenue in April

Published

1 month ago

May 21, 2025

George Miller

PA Gaming Control Board Reports a Nearly 11% increase of Gaming Revenue in April

The Pennsylvania Gaming Control Board (PGCB) reported today that the combined total revenue generated from all forms of gaming along with fantasy contests during April 2025 was $558,717,922, an increase of 10.7% from last April.

The following chart compiles all revenue generated in April 2025 by casinos, along with fantasy contests and VGTs operated by other vendors and includes a comparison to total revenue generated in April 2024.

Source	April 2025 Total Revenue	April 2024 Total Revenue	% Change
Valley Forge Casino Resort Advertisement	$99,090,172	$85,340,755	16.11%
Hollywood Casino at Penn National Race Course	$97,719,246	$78,343,398	24.73%
Rivers Casino Philadelphia	$56,209,401	$49,076,360 Advertisement	14.53%
Parx Casino	$54,211,940	$53,793,286	0.78%
Wind Creek Bethlehem	$47,825,103	$46,326,454	3.23%
Rivers Casino Pittsburgh Advertisement	$27,533,445	$28,478,326	-3.32%
Hollywood Casino at the Meadows	$27,138,316	$26,007,948	4.35%
Live! Casino Philadelphia	$26,562,159	$24,304,441 Advertisement	9.29%
Harrah’s Philadelphia	$23,511,110	$21,071,057	11.58%
Mohegan Pennsylvania	$19,130,831	$20,024,953	-4.47%
Mount Airy Casino Resort Advertisement	$17,803,898	$19,187,606	-7.21%
Presque Isle Downs and Casino	$13,732,651	$8,862,424	54.95%
Hollywood Casino York	$10,235,524	$8,450,128 Advertisement	21.13%
Live! Casino Pittsburgh	$9,585,109	$10,589,049	-9.48%
Golden Nugget	$7,670,389	$3,544,056	116.43%
Hollywood Casino Morgantown Advertisement	$7,532,447	$7,330,347	2.76%
Video Gaming Terminals	$3,518,821	$3,648,270	-3.55%
Parx Shippensburg	$3,160,614	$3,125,398 Advertisement	1.13%
Bally’s Pennsylvania	$2,958,241	$3,812,426	-22.41%
The Casino at Nemacolin	$2,331,513	$2,138,432	9.03%
Fantasy Contests Advertisement	$1,256,994	$1,228,294	2.34%
Statewide Total	$558,717,922	$504,683,409	10.71%

Total tax from games revenue during April 2025 was $234,493,926*.

April Revenue by Game Type

The PGCB is also providing a synopsis of revenue year-over-year by types of games:

Type of Gaming Revenue	April 2025	April 2024	% Change
Retail Slots Revenue	$203,094,831	$205,485,828	-1.16%
iGaming Slots Revenue Advertisement	$169,478,496	$126,013,832	34.49%
Retail Tables Revenue	$80,604,940	$78,482,947	2.70%
iGaming Tables Revenue	$55,892,309	$45,006,006 Advertisement	24.19%
Sports Wagering Revenue	$42,533,444	$42,412,510	0.29%
Video Gaming Terminals Revenue	$3,518,821	$3,648,270	-3.55%
iGaming Poker Revenue Advertisement	$2,338,087	$2,405,721	-2.81%
Fantasy Contests Revenue	$1,256,994	$1,228,294	2.34%
Total Gaming Revenue	$558,717,922	$504,683,409 Advertisement	10.71%

Slot Machine Revenue

April’s revenue from the play of retail slot machines was $203,094,831, a 1.16% decrease in revenue when compared to the $205,485,828 generated in April 2024.

The number of slot machines in operation in April 2025 was 24,363 compared to 24,890 at the casinos in April 2024.

Slot machine revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows:

Casino	April 2025 Slots Revenue	April 2024 Slots Revenue	% Change Advertisement
Parx Casino	$31,398,827	$31,627,184	-0.72%
Wind Creek Bethlehem	$22,484,142	$22,648,114	-0.72%
Rivers Casino Pittsburgh	$20,903,809 Advertisement	$21,552,173	-3.01%
Mohegan Pennsylvania	$15,066,512	$15,605,963	-3.46%
Hollywood Casino at the Meadows	$13,359,817	$13,791,981	-3.13% Advertisement
Live! Casino Philadelphia	$12,578,702	$12,575,159	0.03%
Mount Airy Casino Resort	$11,989,812	$12,266,755	-2.26%
Rivers Casino Philadelphia	$11,807,479 Advertisement	$12,032,212	-1.87%
Hollywood Casino at Penn National Race Course	$11,528,692	$11,684,897	-1.34%
Valley Forge Casino Resort	$9,401,048	$9,035,378	4.05% Advertisement
Harrah’s Philadelphia	$8,833,678	$9,080,862	-2.72%
Live! Casino Pittsburgh	$8,142,058	$9,126,484	-10.79%
Presque Isle Downs and Casino	$7,631,607 Advertisement	$7,476,168	2.08%
Hollywood Casino York	$7,560,618	$6,728,004	12.38%
Hollywood Casino Morgantown	$5,261,874	$5,338,456	-1.43% Advertisement
Parx Shippensburg	$3,106,843	$3,040,633	2.18%
The Casino at Nemacolin	$2,039,313	$1,875,402	8.74%
Statewide Total	$203,094,831 Advertisement	$205,485,828	-1.16%

Tax revenue from the play of slot machines in April 2025 was $102,841,807*.

Retail Table Games Revenue

Retail Table Games revenue for April 2025 was $80,604,940, an increase of 2.70% from April 2024 when revenue was $78,482,947.

Table games revenue for each of the casinos, with the percentage change reflected over the previous year, is as follows.

Casino	April 2025 Table Games Revenue	April 2024 Table Games Revenue Advertisement	% Change
Wind Creek Bethlehem	$23,971,086	$21,882,043	9.55%
Parx Casino	$16,102,523	$15,718,477	2.44%
Live! Casino Philadelphia Advertisement	$9,233,598	$7,704,612	19.85%
Rivers Casino Philadelphia	$7,937,680	$6,993,058	13.51%
Rivers Casino Pittsburgh	$5,950,178	$6,154,381 Advertisement	-3.32%
Valley Forge Casino Resort	$2,883,706	$2,797,020	3.10%
Mount Airy Casino Resort	$2,380,314	$2,949,545	-19.30%
Harrah’s Philadelphia Advertisement	$2,271,048	$2,071,503	9.63%
Mohegan Pennsylvania	$2,026,335	$2,662,142	-23.88%
Hollywood Casino at the Meadows	$1,632,924	$2,387,398 Advertisement	-31.60%
Hollywood Casino York	$1,496,542	$1,086,823	37.70%
Hollywood Casino at Penn National Race Course	$1,321,634	$2,176,702	-39.28%
Live! Casino Pittsburgh Advertisement	$1,195,412	$1,375,312	-13.08%
Presque Isle Downs and Casino	$1,075,228	$1,319,443	-18.51%
Hollywood Casino Morgantown	$786,348	$870,996 Advertisement	-9.72%
The Casino at Nemacolin	$292,200	$263,030	11.09%
Parx Shippensburg	$48,185	$70,462	-31.62%
Statewide Total Advertisement	$80,604,940	$78,482,947	2.70%

Total tax revenue from table games play during April 2025 was $13,496,060*.

Internet Casino-Type Gaming (iGaming) Revenue

Casino games offered online generated monthly gross revenue totaling $227,708,892 during April 2025. Compared to revenue of $173,425,559 in April 2024, this represents an increase of 31.30%.

A breakdown of revenue of casino games offered online is as follows:

Casino Operator	iSlots Advertisement Revenue	iTables Revenue	iPoker Revenue	Total iGaming Revenue
Hollywood Casino at Penn National Race Course	$57,479,821	$25,212,629	$498,895	$83,191,345
Valley Forge Casino Resort Advertisement	$48,266,132	$18,464,415		$66,730,547
Rivers Casino Philadelphia	$31,127,572	$4,490,644	$266,573	$35,884,789
Harrah’s Philadelphia	$8,115,975 Advertisement	$2,670,850	$378,874	$11,165,698
Golden Nugget	$7,136,062	$534,327		$7,670,389
Parx Casino	$4,809,436	$960,916 Advertisement		$5,770,352
Live! Casino Philadelphia	$3,737,078	$861,343		$4,598,421
Mount Airy Casino Resort	$1,755,991	$510,777	$1,193,745	$3,460,513 Advertisement
Presque Isle Downs and Casino	$1,859,955	$1,253,532		$3,113,487
Bally’s Pennsylvania	$2,570,604	$387,637		$2,958,241
Mohegan Pennsylvania	$1,528,712 Advertisement	$301,957		$1,830,668
Wind Creek Bethlehem	$1,091,159	$243,283		$1,334,442
Statewide Total	$169,478,496	$55,892,309	$2,338,087 Advertisement	$227,708,892

Tax revenue generated from iGaming during April 2025 was $100,825,684*.

Total iGaming revenue for each of the casinos during April 2025 and April 2024, if applicable, is as follows:

Operator	April 2025 iGaming Revenue	April 2024 iGaming Revenue	% Change
Hollywood Casino at Penn National Race Course	$83,191,345	$62,315,703 Advertisement	33.50%
Valley Forge Casino Resort	$66,730,547	$48,092,985	38.75%
Rivers Casino Philadelphia	$35,884,789	$30,642,859	17.11%
Harrah’s Philadelphia Advertisement	$11,165,698	$9,409,722	18.66%
Golden Nugget	$7,670,389	$3,544,056	116.43%
Parx Casino	$5,770,352	$4,990,916 Advertisement	15.62%
Live! Casino Philadelphia	$4,598,421	$3,436,705	33.80%
Mount Airy Casino Resort	$3,460,513	$3,956,965	-12.55%
Presque Isle Downs and Casino Advertisement	$3,113,487	n/a	n/a
Bally’s Pennsylvania	$2,958,241	$3,812,426	-22.41%
Mohegan Pennsylvania	$1,830,668	$1,412,160 Advertisement	29.64%
Wind Creek Bethlehem	$1,334,442	$1,811,063	-26.32%
Statewide Total	$227,708,892	$173,425,559	31.30%

Sports Wagering Revenue

April 2025 total sports wagering handle was $711,569,216, 10.14% above the April 2024 total of $646,061,065.

The taxable revenue figure for April 2025 was $42,533,444, or 0.29% higher when compared to April 2024, when taxable revenue was $42,412,510.

April 2025 sports wagering total handle and revenue are as follows:

Casino Operator	Total Handle²	Retail Revenue	Online Revenue Advertisement	Total Revenue
Valley Forge Casino Resort	$269,836,185	-$35,399	$20,110,270	$20,074,871
Hollywood Casino at the Meadows	$185,602,950	$53,276	$12,092,299 Advertisement	$12,145,575
Presque Isle Downs and Casino	$34,243,132	$31,271	$1,881,058	$1,912,329
Hollywood Casino at Penn National	$32,151,458	$72,749	$1,604,825 Advertisement	$1,677,575
Hollywood Casino Morgantown	$60,055,196	-$26,384	$1,510,609	$1,484,225
Harrah’s Philadelphia	$25,824,434	$134,774	$1,105,911 Advertisement	$1,240,686
Hollywood Casino York	$42,038,254	$918	$1,177,446	$1,178,364
Parx Casino	$14,986,726	$263,367	$676,869 Advertisement	$940,237
Rivers Casino Pittsburgh	$25,411,936	$218,799	$460,660	$679,459
Rivers Casino Philadelphia	$12,149,428	$66,794	$512,660 Advertisement	$579,454
Live! Casino Pittsburgh	$1,087,213	$247,640	$0	$247,640
Live! Casino Philadelphia	$5,490,455	$151,438	$0 Advertisement	$151,438
Mohegan Pennsylvania	$717,634	$117,077	$0	$117,077
Mohegan Lehigh Valley¹	$712,790	$90,238	$0 Advertisement	$90,238
Wind Creek Bethlehem	$828,888	-$620	$36,053	$35,434
Parx Shippensburg	$42,879	$5,585	$0 Advertisement	$5,585
Mount Airy Casino Resort	$389,661	-$26,742	$0	-$26,742
Statewide Total	$711,569,216	$1,364,783	$41,168,661 Advertisement	$42,533,444

¹Operated by Mohegan Pennsylvania

²A breakout of the handle between retail and online sportsbooks can be found on the website report.

Sports wagering revenue for each of the casinos and plus the one Off Track Betting facility during April 2025 and April 2024, if applicable, is as follows:

Operator	April 2025 Sports Wagering Revenue	April 2024 Sports Wagering Revenue	% Change
Valley Forge Casino Resort	$20,074,871 Advertisement	$25,415,372	-21.01%
Hollywood Casino at the Meadows	$12,145,575	$9,828,569	23.57%
Presque Isle Downs and Casino	$1,912,329	$66,814	2762.17% Advertisement
Hollywood Casino at Penn National Race Course	$1,677,575	$2,166,095	-22.55%
Hollywood Casino Morgantown	$1,484,225	$1,120,894	32.41%
Harrah’s Philadelphia	$1,240,686 Advertisement	$508,970	143.76%
Hollywood Casino York	$1,178,364	$635,301	85.48%
Parx Casino	$940,237	$1,343,210	-30.00% Advertisement
Rivers Casino Pittsburgh	$679,459	$771,772	-11.96%
Rivers Casino Philadelphia	$579,454	-$591,769	-197.92%
Live! Casino Pittsburgh	$247,640 Advertisement	$87,253	183.82%
Live! Casino Philadelphia	$151,438	$587,965	-74.24%
Mohegan Pennsylvania	$117,077	$168,079	-30.34% Advertisement
Mohegan Lehigh Valley²	$90,238	$176,609	-48.91%
Wind Creek Bethlehem	$35,434	-$14,766	-339.96%
Parx Shippensburg	$5,585 Advertisement	$14,302	-60.95%
Mount Airy Casino Resort	-$26,742	$14,342	n/a
South Philly Race & Sportsbook^{1 3}	n/a	$113,499	n/a Advertisement
Statewide Total	$42,533,444	$42,412,510	0.29%

¹Operated by Parx Casino

²Operated by Mohegan Pennsylvania

³ No longer operating

Tax revenue generated from sports wagering during April 2025 was $15,312,040*.

Video Gaming Terminals

Total adjusted revenue for April 2025 for video gaming terminals (VGTs) was $3,518,821, 3.55% lower than April 2024 when revenue was $3,648,270. By the end of April 2025, all VGT Operators offered the maximum permitted five machines at each of the 74 qualified truck stop establishments, compared to five machines at each of the 74 establishments at this time last year.

Truck Stop VGT adjusted revenue for each of the terminal operators during April 2025 is as follows:

VGTs Terminal Operator	April 2025 VGT Revenue	April 2024 VGT Revenue	% Change
Marquee by Penn¹	$2,407,652	$2,388,864	0.79% Advertisement
J&J Ventures Gaming²	$800,157	$960,004	-16.65%
Jango³	$311,012	$249,650	24.58%
Accel Entertainment Gaming⁵	$0 Advertisement	$4,696	n/a
Venture Gaming LLC⁴	$0	$45,056	n/a
Statewide Total	$3,518,821	$3,648,270	-3.55% Advertisement

¹ operated VGTs in 32 establishments during April

² operated VGTs in 27 establishments during April

³ operated VGTs in 13 establishments during April

⁴ operated VGT’s in 2 establishments but were not operational during April

⁵ operated VGTs in no establishments during April

Tax revenue collected from the play of VGTs in April 2025 was $1,829,787*.

Fantasy Contests

Fantasy Contests revenue was $1,256,994 in April 2025, an increase of 2.34% over April 2024, when revenue was $1,228,294

Fantasy Contests Operator Advertisement	April 2025 Fantasy Revenue	April 2024 Fantasy Revenue	% Change
DraftKings	$945,998	$915,949	3.28%
FanDuel	$181,113	$211,873 Advertisement	-14.52%
Underdog Sports, Inc.	$114,632	$84,085	36.33%
Yahoo Fantasy Sports	$10,635	$11,038	-3.65%
Fantasy Sports Games LLC Advertisement	$2,760	$3,460	-20.24%
Sportshub Technologies	$1,937	$1,844	5.03%
OwnersBox	-$81	$37 Advertisement	-316.83%
Jock MKR	n/a	$8	n/a
Statewide Total	$1,256,994	$1,228,294	2.34%

Tax revenue collected from the play of Fantasy Contests in April 2025 was $188,549*.

*All tax revenue figures reflect amount generated prior to any adjustments by the PA Department of Revenue

Financial reports

Arizona Department of Gaming Reports $30.8 Million in Tribal Gaming Contributions for the Third Quarter of Fiscal Year 2025

Published

3 months ago

March 24, 2025

George Miller

Arizona Department of Gaming Reports $30.8 Million in Tribal Gaming Contributions for the Third Quarter of Fiscal Year 2025

The Arizona Department of Gaming announced today $30,845,042 in tribal gaming contributions to the Arizona Benefits Fund for the third quarter of Fiscal Year 2025. This amount represents an approximate 7.9 percent increase when compared to the same quarter of FY 2024.

The Arizona Benefits Fund receives 88 percent of tribal gaming contributions, providing significant dollars to support instructional improvement in schools, trauma and emergency care, tourism, and wildlife conservation throughout the state.

Tribal gaming contributions to the Arizona Benefits Fund for the 3rd quarter of the Stateߣs FY 2025 are as follows:

Instructional Improvement Fund/Education ߝ $15,373,169

Trauma and Emergency Services Fund ߝ $7,686,584

Arizona Department of Gaming Operating Costs ߝ $2,776,054

Arizona Wildlife Conservation Fund ߝ $2,196,167

Tourism Fund ߝ $2,196,167

Problem Gambling Education, Treatment and Prevention ߝ $616,901

FY 25 Qtr 3 Total: Tribal Gaming Contributions to the Arizona Benefits Fund ߝ $30,845,042

Per the Arizona Tribal-State Gaming Compact, Tribes with casinos also contribute a percentage of their Class III gross gaming revenue to cities, towns, and counties. Currently, there are 26 Class III casinos in Arizona, which ADG regulates in partnership with Arizona tribes. Since the inception of tribal gaming in Arizona, over $2.34 billion in cumulative tribal contributions has been contributed to the state and its cities, towns, and counties since FY 2004.

Financial reports

Gambling.com Group Reports Fourth Quarter and Full-Year 2024 Results

Published

3 months ago

March 20, 2025

George Miller

Gambling.com Group Reports Fourth Quarter and Full-Year 2024 Results

2025 Guidance Mid-points Imply 35% and 40% Year-Over-Year Revenue and Adjusted EBITDA Growth

Gambling.com Group Limited, a fast-growing provider of digital marketing services for the global online gambling industry, today reported financial results for the fourth quarter and full-year ended December 31, 2024.

Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group, commented, “Our record fourth quarter and full-year results were driven by our team’s prioritization of iGaming across the markets where we operate. Our team delivered outstanding performance in the quarter, especially when compared to the launch driven results in the prior-year period. We anticipate growth and continued market share gains in our performance marketing business across all geographic regions in 2025, including North America. The consolidation of Odds Holdings, Inc. from January 1st marks the start of the Company’s next phase of growth as we layer on sports data solutions to our existing, high-growth, high-margin business. Our competitive positioning is strong across the globe.”

“We capped an active and productive year during which we set the stage for continued strong growth in 2025 and beyond,” said Mr. Gillespie. “In 2024, we extended our record of delivering full-year revenue, Adjusted EBITDA and Free Cash Flow growth with those metrics improving 17%, 33%, and 81%, respectively, year-over-year. In addition, we strengthened our product and market positioning organically as well as through the complementary, accretive acquisitions of Freebets.com and Odds Holdings. With the biggest and most talented team we have ever had and an enhanced product offering, we are making great progress towards our goal of reaching $100 million in annual Adjusted EBITDA.”

Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Fourth quarter revenue and Adjusted EBITDA increased 9% and 39% year-over-year, respectively, and over 80% of Adjusted EBITDA converted to free cash flow, reflecting the continued success of our strategies to optimize the returns from our global portfolio of owned and operated assets. As expected, we generated strong online casino growth across all our geographical regions, while our North American business continued to be resilient against challenging comparables. As reflected in our full-year guidance, we expect to generate significant year-over-year revenue and Adjusted EBITDA growth in 2025, and we are well-positioned to carry this operating momentum forward.”

Financial Highlights Three Months Ended December 31, 2024 vs. Three Months Ended December 31, 2023

(USD in thousands, except per share data, unaudited)

	Three Months Ended December 31,				Change Advertisement
	2024		2023		%
Revenue	35,308		32,530		9	%
Net income for the period attributable to shareholders	7,933 Advertisement		6,372		24	%
Net income per share attributable to shareholders, diluted	0.23		0.16		44	%
Net income margin	22 Advertisement	%	20	%
Adjusted net income for the period attributable to shareholders ⁽¹⁾	12,172		8,622		41	%
Adjusted net income per share attributable to shareholders, diluted ⁽¹⁾	0.35 Advertisement		0.22		59	%
Adjusted EBITDA ⁽¹⁾	14,736		10,569		39	%
Adjusted EBITDA Margin ⁽¹⁾	42 Advertisement	%	32	%
Cash flows generated by operating activities	13,698		7,140		92	%
Free Cash Flow ⁽¹⁾	13,162 Advertisement		6,511		102	%

__________

(1) Represents a non-IFRS measure. See “Supplemental Information – Non-IFRS Financial Measures” and the tables at the end of this release for reconciliations to the comparable IFRS numbers.

Fourth Quarter 2024 and Recent Business Highlights

Delivered more than 145,000 new depositing customers (“NDCs”)
Repurchased 486,312 shares at an average price of $9.80 per share
Won Casino Affiliate of the Year at the 2024 EGR Operator Awards
Completed accretive acquisition of Odds Holdings, Inc. on January 1, 2025 for initial consideration of $70 million in cash and $10 million in shares
Expanded credit facility to $165 million with a new syndicate

Three Months Ended December 31, 2024 Results Compared to Three Months Ended December 31, 2023

Revenue rose 9% year-over-year to a record $35.3 million. The Company delivered more than 145,000 NDCs to clients, a 9% year-over-year decrease reflecting a challenging comparison primarily due to ESPNBet’s launch in 17 markets in the 2023 fourth quarter period.

Gross profit increased 21% to $33.1 million, due to strong revenue growth and a $2.9 million year-over-year decrease in cost of sales related to the Company’s media partnerships.

Total operating expenses increased 21% to $23.3 million, primarily as a result of increased people costs and higher amortization related to the acquisition of Freebets.com and related assets.

Net income attributable to shareholders increased $1.6 million to $7.9 million and net income per share was $0.23 compared to $0.16 in the prior year period. Adjusted net income rose 41% to $12.2 million and adjusted net income per share increased 59% to $0.35.

Adjusted EBITDA increased 39% to a record $14.7 million, reflecting an Adjusted EBITDA margin of 42% as compared to Adjusted EBITDA of $10.6 million and an Adjusted EBITDA margin of 32% in the prior-year period.

Operating cash flow of $13.7 million compared to $7.1 million in the prior-year period. Free cash flow grew 102% to $13.2 million reflecting growth in net income and Adjusted EBITDA and positive working capital movements in the quarter.

2025 Outlook

Gambling.com Group today reiterated the 2025 full-year revenue and Adjusted EBITDA guidance originally provided on February 19, 2025. The Company expects full year revenue of $170 million to $174 million and Adjusted EBITDA of $67 million to $69 million. The midpoints of the new full year revenue and Adjusted EBITDA guidance ranges represent year-over-year growth of 35% and 40%, respectively, and an adjusted EBITDA margin of 39.5%.

The Company’s guidance assumes:

Incremental Adjusted EBITDA contributions of approximately $14.5 million related to the acquisition of Odds Holdings, Inc. that was completed on January 1, 2025.
No additional North American markets coming online over the balance of 2025. While online sports betting is expected to begin in Missouri in the second half of 2025, the Company’s guidance policy excludes any benefits from new state launches until such time as a definitive start date is announced by the appropriate regulatory body.
An average EUR/USD exchange rate of 1.07 throughout 2025.

Financial Highlights Full Year Ended December 31, 2024 vs. Full Year Ended December 31, 2023

(USD in thousands, except per share data, unaudited)

	Year ended December 31,				Change
	2024		2023 Advertisement		%
Revenue	127,182		108,652		17	%
Net income for the period attributable to shareholders	30,679		18,260		68 Advertisement	%
Net income per share attributable to shareholders, diluted	0.84		0.47		79	%
Net income margin	24	%	17 Advertisement	%
Adjusted net income for the period attributable to shareholders ⁽¹⁾	42,120		32,207		31	%
Adjusted net income per share attributable to shareholders, diluted ⁽¹⁾	1.16		0.84		38 Advertisement	%
Adjusted EBITDA ⁽¹⁾	48,691		36,715		33	%
Adjusted EBITDA Margin ⁽¹⁾	38	%	34 Advertisement	%
Cash flows generated by operating activities	37,638		17,910		110	%
Free Cash Flow ⁽¹⁾	41,582		23,000		81 Advertisement	%

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(1) Represents a non-IFRS measure. See “Supplemental Information – Non-IFRS Financial Measures” and the tables at the end of this release for reconciliations to the comparable IFRS numbers.