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Gambling Group estimates $71-76m in 2022 revenue after Q1 report

Affiliate Gambling.com has has announced operational and financial results for the first quarter ended 31 March 2022.

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CEO and Gambling.com Co-Founder Charles Gillespie said in a statement: “Our core business performed brilliantly in the quarter, driving record revenue and adjusted EBITDA performance. This very strong underlying growth together with the acquisitions of RotoWire.com and BonusFinder.com, propelled Q1 2022 revenue 70% past our previous best quarter.”

He went on to detail the company aims, commenting: “Our current primary strategic objective is to rapidly grow our business in the US market, which is exactly what we did in the quarter – while also delivering high margins despite the continuous investments in the business to position us for further US growth.”

Some of the Q1 highlights outlined in the report are a 554% revenue increase in America amounting to $10.6m, delivery of 67,000 new depositing customers and successful new market launches in New York and Louisiana.

Chief Financial Officer Elias Mark noted: “We saw our accelerated investments in the business during the second half of 2021 start to pay off, and grew revenue 70% to deliver the best quarterly performance in the Group’s history. The record performance was driven by exceptionally strong growth in North America, particularly in New York, and very solid results in the United Kingdom and Ireland measured against our previous best quarter.”

The report went on to give a projected outlook for the remainder of the fiscal year. It estimates that total revenue will be in the range of $71m and $76m, and that adjusted EBITDA will be in the range of $22m and $27m.

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