Gambling.com expands credit facility to $165M to help with future growth and acquisitions plan
The Gambling.com Group (GAMB), a Nasdaq-listed media powerhouse, has moved to strategically expand its credit facility with Wells Fargo Bank, increasing it from $100 million to $165 million. The move provides the company with flexibility to pursue its aggressive growth plan, while funding technological advancements.
The new deal with Wells Fargo features a revised credit arrangement that comes structured into two main components. The first of these is a $90 million revolving credit tranche and the second of which is a $75 million loan facility, both of which will mature on the 28th February 2028.
Elias Mark, the Chief Financial Officer of Gambling.com, said, “Expanding our credit facility to $165 million and securing a syndicate of lenders strengthens our financial position and enhances our ability to execute growth initiatives. This increased flexibility supports our organic expansion and strategic acquisition initiatives, allowing us to scale efficiently, optimise our capital structure, and drive continued value creation for our shareholders.”
The company maintains that 2024 will be its “best year in business”, achieving revenues of $127 million and an adjusted EBITDA exceeding $48 million. Early 2025 guidance introduced by Gambling.com’s leadership projects group revenues in the range of $170 million to $174 million, showing the business has no signs of slowing down its growth this year either.
Gambling.com’s ongoing expansion strategy includes the acquisition of Odds Holdings Inc., the parent company of OddsJam, for $160 million in December 2024, which is intended to enhance Gambling.com’s already blossoming media network. The company’s media portfolio reads like a who’s who of premier branded websites such as Gambling.com, Bookies.com, Casinos.com, RotoWire.com, and over 50 other websites in multiple languages across 19 national markets.
The new terms with Wells Fargo put the company in a strong position now to kick on and expand further at a time where the entire industry continues to see a strong boom in both incoming revenue and players.
The post Gambling.com expands credit facility to $165M to help with future growth and acquisitions plan appeared first on ReadWrite.