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Gambling Group announces projected 90% revenue rise for 2021

Gambling.com Group has announced positive, albeit preliminary, financial results for 2021, with projected revenue showing an increase of 90% year-on-year in North America. 

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While the numbers are yet to be audited, the full-year results bring positive news for the affiliate, with the expansion of online sports betting across North America one of the main reasons behind such growth. 

Total revenue is projected to be within the region of $42.1m to $42.5m (vs. $28m in 2020); net income is expected to be in the range of $12.4m; and $13.1m and adjusted EBITDA is expected to be in the range of $18.2m and $18.7m (vs. $14.6m in 2020). 

Free cash flow is expected to fall year-on-year, with between $7.8m and $8.5m available to the company in the upcoming year, compared with $10.8m 12 months ago. 

This is, however, perhaps to be expected, with the company’s acquisition of RotoWire.com going through on 1 January 2022.  

As part of the financial update, the company also released projections for the year ahead, suggesting January 2022 could be the firm’s best month on record.  

Charles Gillespie, Gambling.com Group CEO, 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. 

“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.” 

In 2022, Gambling.com Group projects total revenue of between $71m and $76m, and adjusted EBITDA to climb to the region of $22m and $27m.


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