Gambling.com Q1 revenue down 28%

By Owain Flanders

Gambling.com revenue was €3.7m ($4.1m) for the first quarter of 2020, a fall of 28% year-on-year.

Adjusted EBITDA was €740,000, down 58% from 2019, while net cash generated from operating activities was €40,000, a drop of 96%.

The number of new depositing customers recorded by the affiliate was also down at 16,096, a decrease of 39% from the previous year.

During the quarter, the company received new equity investment of $500,000.

Charles Gillespie, CEO of Gambling.com, said: "I was pleased to see our latest round of investments in technology begin to pay off with revenues in Q1 2020 improving incrementally against Q4 2019 by 9.6%.

"Since November 2019 we have now seen month-on-month increases for five months straight through to April 2020.

"Entering the second quarter with improved search performance and reduced operating expenses, we remain confident about the future prospects of the group despite an uncertain macro environment."

During the coronavirus pandemic, the affiliate has been under a work-from-home policy across all offices, but daily operations have been otherwise unaffected according to a recent update.

Last month, the US subsidiary of Gambling.com was approved by the Colorado Gaming Control Commission to provide marketing services to operators in the state.

TAGS:

Share This Post



NEWS SPONSOR

More News

The Global Lottery Monitoring System (GLMS) has reported a 41% year-on-year increase in the number of suspicious sports betting alerts generated to its members for 2020. The lottery industry sports betting integrity...




This article originally appeared in the November/December edition of Gambling Insider magazine: Modern regulation is certainly a complex topic. GVC director of regulatory affairs Martin Lycka shares his personal views with...