Gambling.com Group expects 2022 to be ‘another brilliant year’

Gambling.com Group has announced its preliminary financial results for 2021, declaring that it expects its North American revenue to grow by approximately 90%.
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Gambling.com Group, a provider of player acquisition services for the regulated global online gambling industry, has announced its preliminary financial results for 2021, declaring that it expects its North American revenue to grow by approximately 90%.

The group has also provided a January business update, where it noted revenue performance has got off to a strong start thanks to the launch of online sports betting in New York. It has introduced its financial outlook for 2022, which CEO Charles Gillespie expects to be “another brilliant year”.

For the 12 months ended December 31, 2021, Gambling.com estimates that its North American revenue will grow approximately 90%, and that total revenue will be in the range of $42.1m and $42.5m.

The company also expects that its net income will be in the range of $12.4m and $13.1m, its adjusted EBITDA will be between $18.2m and $18.7m (adjusted EBITDA margin of 43% to 44%), and free cash flow will be in the $7.8m and $8.5m range.

As for January, the group noted that revenue performance “has been healthy in Europe and particularly strong in North America”, thanks to New York State’s sports betting launch. 

The company expects January revenues to produce the best single-month performance in its 15-year history, even before consolidating revenue from RotoWire.com, which was acquired at the start of the year.

CEO Charles Gillespie commented: “The year is off to an incredibly strong start. It is great to see our investments at the end of 2021 start to pay off and help drive strong growth, despite a particularly challenging comparable period in the first quarter of 2021 coinciding with Covid-19 related measures.”

Looking ahead at 2022 as a whole, Gambling.com estimates that total revenue will be in the range of $71m and $76m, with adjusted EBITDA between $22m and $27m.

Gillespie added: “I am delighted with the strength in our underlying business, even before consolidating revenue from RotoWire in January and BonusFinder from February. We continue to invest in the business and expect to deliver another year of strong organic revenue growth complemented with additional revenue from the recent acquisitions.

“Great acquisitions, the launch of sports betting in states like New York and Louisiana, the expected launch of a regulated market in Ontario, and the debut of our media partnership with McClatchy together give me confidence that 2022 will be another brilliant year for Gambling.com Group.”

Gambling.com stated it will provide a more detailed financial update for 2021 and Q4 2021 during its earnings call planned for late March.