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Gambling.com Group Reports First Quarter Results Including Record Revenue and Adjusted EBITDA

Gambling.com Group Limited (Nasdaq: GAMB) (“Gambling.com Group” or the “Company”), a fast-growing provider of marketing and sports data services for the global online gambling industry, today reported financial results for the first quarter ended March 31, 2025.
Charles Gillespie, Chief Executive Officer and Co-Founder of Gambling.com Group, commented, “We entered 2025 with our marketing business at all-time highs and with an expanded suite of sports data services having closed the acquisition of OddsJam and OpticOdds on January 1. Since the closing, we have made substantial progress on integrating these offerings into our overall business and the products are performing strongly as expected. With an enhanced sports data services platform, we now have meaningful recurring subscription revenue, which we expect to account for well over 20% of our 2025 revenue, bringing increased revenue visibility and a complimentary, high margin and high growth source of profit and cash flow.
“We are reiterating our full year 2025 guidance despite the unpredictable macro environment, as our services address critical problems for all our customers and our industry is typically insulated from the gyrations of the global economy. We continue to expect 2025 to be another year of record revenue, Adjusted EBITDA and Free Cash Flow as we leverage the skills and expertise of our talented team with a larger product offering to drive growth across all our reporting regions. Each day we are moving closer to our goal of generating $100 million in annual Adjusted EBITDA.”
Elias Mark, Chief Financial Officer of Gambling.com Group, added, “Our first quarter results include record quarterly revenue of $40.6 million and Adjusted EBITDA of $15.9 million, reflecting year-over-year growth of 39% and 56%, respectively. With the solid start to the year, we remain confident in our full year outlook with the midpoints of our guidance for revenue of $172 million and $68 million in Adjusted EBITDA, representing year on year growth of 35% and 40%, respectively.”
Financial Highlights Three Months Ended March 31, 2025 vs. Three Months Ended March 31, 2024
(USD in thousands, except per share data, unaudited)
|
Three Months Ended March 31, |
|
Change |
|||||
|
2025 |
|
2024 |
|
% |
|||
Revenue |
40,635 |
|
|
29,215 |
|
|
39 |
% |
Net income for the period attributable to shareholders |
11,236 |
|
|
7,299 |
|
|
54 |
% |
Net income per share attributable to shareholders, diluted |
0.31 |
|
|
0.19 |
|
|
63 |
% |
Net income margin |
28 |
% |
|
25 |
% |
|
|
|
Adjusted net income for the period attributable to shareholders (1) |
16,490 |
|
|
9,264 |
|
|
78 |
% |
Adjusted net income per share attributable to shareholders, diluted (1) |
0.46 |
|
|
0.24 |
|
|
92 |
% |
Adjusted EBITDA (1) |
15,864 |
|
|
10,159 |
|
|
56 |
% |
Adjusted EBITDA Margin (1) |
39 |
% |
|
35 |
% |
|
|
|
Cash flows generated by operating activities |
11,415 |
|
|
8,806 |
|
|
30 |
% |
Free Cash Flow (1) |
10,277 |
|
|
8,193 |
|
|
25 |
% |
__________
(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.
First Quarter 2024 and Recent Business Highlights
- Delivered more than 138,000 new depositing customers (“NDCs”)
- Completed accretive acquisition of Odds Holdings, Inc. on January 1, 2025 for initial consideration of $70 million in cash and $10 million in ordinary shares
- Expanded credit facility to $165 million with a new syndicate
Three Months Ended March 31, 2025 Results Compared to Three Months Ended March 31, 2024
Revenue rose 39% year-over-year to a record $40.6 million. Revenue from marketing services increased 13% year over year to $30.7 million as the Company delivered more than 138,000 NDCs to clients, a 29% increase over the prior-year period. Revenue from sports data services increased 405% year-over-year to $9.9 million, primarily due to the contribution of OddsJam and OpticOdds following the acquisition on January 1. Recurring subscription revenue represented 24% of total 2025 first quarter revenue.
Gross profit increased 42% to $38.4 million, due to strong revenue growth while cost of sales was in line with the prior-year period reflecting lower cost of sales for media partnerships offset by the addition of cost of sales related to OddsJam and OpticOdds.
Total operating expenses increased 49% to $28.4 million, primarily as a result of increased people costs and higher amortization related to the acquisition of Freebets.com and related assets on April 1, 2024 and the acquisition of Odds Holdings on January 1, 2025.
Net income attributable to shareholders increased $3.9 million to $11.2 million and net income per share was $0.31 compared to $0.19 in the prior-year period. Adjusted net income rose 78% to $16.5 million and Adjusted net income per share increased 92% to $0.46.
Adjusted EBITDA increased 56% to a record $15.9 million, reflecting an Adjusted EBITDA margin of 39% as compared to Adjusted EBITDA of $10.2 million and an Adjusted EBITDA margin of 35% in the prior-year period.
Operating cash flow grew 30% to $11.4 million. Free cash flow increased 25% to $10.3 million, reflecting growth in Adjusted EBITDA partly offset by working capital movements.
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 1.10 throughout 2025.
Conference Call Details
Date/Time: |
Thursday, May 15, 2025, at 8:00 a.m. ET |
||
Webcast: |
https://www.webcast-eqs.com/register/Gamb051525/en |
||
U.S. Toll-Free Dial In: |
877-407-0890 |
||
International Dial In: |
1 201-389-0918 |
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SPAIN’S LEO MARGETS HAS CHANCE TO BE THE FIRST WOMAN IN POKER HISTORY TO BECOME WORLD CHAMPION

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The final table of the 2025 World Series of Poker (WSOP) Main Event is a historic one, as for the first time in 30 years a woman is among the final nine players competing for poker’s most coveted prize.
Leonore “Leo” Margets, a professional poker player from Barcelona, Spain, will be only the second woman in WSOP history to play at the WSOP Main Event final table since Poker Hall of Fame inductee Barbara Enright finished in fifth place in 1995.
Making the Final Nine of the 2025 WSOP Main Event, Margets has secured at least $1 million in prize money, adding to her over $2 million in recorded live tournament winnings.
Achieving a historic accomplishment that is an overwhelming positive for the game of poker, Margets has an opportunity to make even more history by potentially being the first woman ever to win the WSOP Main Event.
Claiming her lone WSOP bracelet in the $1,500 No Limit Hold’em – The Closer tournament at the 2021 WSOP ($376,850 top prize), Margets’ second career bracelet may be the most prestigious one a poker player can win.
With 16 players remaining during Day 8 of the 2025 WSOP Main Event, nearly the entirety of Margets’ chip stack would enter the pot preflop as she called off a three-bet all-in by Sergio Veloso. Holding pocket jacks to Veloso’s ace-king offsuit, despite an ace arriving on the flop, Margets hit a runner-runner flush to give her not only the chips but the momentum needed to reach the WSOP Main Event final table.
Interviewed by PokerGO sideline reporter Jeff Platt moments after officially reaching the WSOP Main Event final table, Margets, surrounded by adoring supporters, was all smiles as she reflected on her achievement.
“It’s so unreal, it is a dream,” Margets said. “I’m so glad that I’m cheering (with my rail), it means so much. How lucky I am to live this!”
The final table of the 2025 WSOP Main Event will resume at the Las Vegas Horseshoe and Paris on Tuesday, July 15th with action beginning at 1:30 P.M. local time. Poker fans and players can watch the action on PokerGO, as well as on the PokerGO YouTube channel.
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Casino Salem is located at The Mall at Rockingham Park, which is approximately 30 minutes from downtown Boston. Prominent local developers Joe Faro and Sal Lupoli will maintain ownership in Casino Salem, ensuring their experience remains central to the development and future success of this new venue.
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Separately from Casino Salem, CDI will continue to operate its Chasers Poker Room in Salem.
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