Gambling.com Group has confirmed a ‘definitive agreement’ for the acquisition of Odds Holdings Inc, the parent company of OddsJam.
The group confirmed that Gambling.com has “offered an initial consideration of $80m for the acquisition, with the potential for an additional $80m based on Odds Holdings’ business performance through the end of 2026.”
It’s a deal that builds on a period of success for Gambling.com delivered its strongest performance to date, reporting a 21% increase in revenue to $91m, a 91% surge in net income to $22.7m, and a 30% growth in Adjusted EBITDA to $34m.
Gambling.com CEO Charles Gillespie stated: “The accretive acquisition of Odds Holdings will immediately provide Gambling.com Group with additional, recurring revenue streams which are independent of our market-leading online gambling affiliate business, consistent with our strategy to expand our footprint in the online gambling industry.”
The acquisition is expected to immediately enhance Gambling.com Group’s financial results while advancing its strategic goal of achieving $100m in annual Adjusted EBITDA. Investors were informed, “For 2024, Odds Holdings expects to generate revenue and Adjusted EBITDA of approximately $26m and $12m, respectively. Gambling.com Group expects that under its management, Adjusted EBITDA derived from the Odds Holdings assets will grow by at least 20% in 2025.”
Post-acquisition, OddsJam founders Ankit Goyal and Alex Monahan, along with CEO Matt Restivo, will join Gambling.com. By leveraging Gambling.com’s resources and expertise, the integration aims to scale Odds Holdings’ advanced technology and expand its reach to a broader global audience.
Restivo added: “Combining with a tech-focused leader in the global online gambling industry like Gambling.com Group is the natural next step for Odds Holdings. By leveraging Gambling.com Group’s expertise, innovation and resources, we will be optimally positioned to scale our technology and data-driven insights to reach an even larger audience of online bettors, including beyond the North American market.”
