Gambling.com Group enters the close of 2023 with confidence, continuing to deliver on accelerated growth targets within North American markets.
Q3 trading saw the igaming media publisher generate corporate revenues of $23.5m, up 19% on corresponding 2022 results of $19.6m.
Coping with the trends of a ‘seasonally slow quarter’, period trading saw Gambling.com deliver more than 86,000 ( 26%) new depositing customers (NDCs) to its partners.
Marked as a key performance driver, Gambling.com highlighted the strategic importance of localised media partnerships with US publisher Gannett CO (USA Today) and The Independent for British audiences.
Period trading saw Gambling.com maintain its core objective of accelerating North American profile, as the geographic segment grew revenues by 42% to $12.9m – representing 53% of corporate income.
Despite achieving headline growth, Q3 adjusted EBITDA declined by 6% to $6m (Q3 2022: $6.4m) as Gambling.com accounts were impaired by negative currency fluctuations against the US dollar.
Closing Q3 trading, Gambling.com leadership maintains its corporate guidance of generating revenue in the range of $100-to-$104m, signifying an organic revenue growth of 31%-36%, and anticipates adjusted EBITDA of $36-to-$40m.
Providing a year-to-date (YTD) overview Gambling.com has experienced a notable 38% increase in revenue, currently tracking at $76m, compared to $55m in the same period in 2022.
YTD adjusted EBITDA also saw a significant rise of 52%, climbing from $17m in 2022 to $26m in 2023.
Group CEO Charles Gillespie commented: “Gambling.com Group is expected to continue to benefit from many near- and long-term opportunities to deliver profitable organic growth. These include further market share gains in existing markets, the benefit from expected future expansions of iGaming and online sports betting in new markets in North America and around the world, our ability to scale and optimize our media partnerships and further growth in our more established European markets.
“We expect that our ability to leverage these revenue drivers with our business model, which generates attractive adjusted EBITDA margins and strong Free Cash Flow conversion, will continue to increase shareholder value.”
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Author: John Sommers
John Sommers is a distinguished figure in the world of gambling expertise, known for his deep knowledge and insightful analysis of the gaming industry. As a seasoned author, he has contributed extensively to the reputable gambling news site, TwinCasinos, focusing on providing valuable insights to English-speaking gamblers worldwide. With a career spanning over a decade, John has honed his expertise in various aspects of gambling, from strategic gameplay to industry trends and regulatory developments. His articles are revered for their blend of comprehensive research, astute observations, and a knack for demystifying complex concepts for both novice and seasoned players. Beyond his writing prowess, John has established himself as a trusted authority, often sought after for his expert commentary on the ever-evolving landscape of the casino and betting industry. His passion for responsible gambling and commitment to ensuring players make informed choices are evident in his work, making him a beacon of integrity in an industry that demands such values. Whether you’re a casual gambler or a dedicated enthusiast, John Sommers’ contributions to TwinCasinos promise to be an invaluable resource for navigating the dynamic world of gambling.
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