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13 approached with precision and strategic clarity.
He described the Freebets. com and Odds Holdings deals as“ immediately accretive” and value-generating, highlighting a track record of success:“ These acquisitions have created immediate value for our shareholders while strategically positioning us for the long term.”
The continued M & A focus is on high-margin, recurring-revenue businesses that complement existing capabilities and expand the existing product portfolio.
CASH FLOW STRENGTH
As noted, GDC is in a strong financial position to support further acquisitions given the near $ 42 million of 2024 free cash flow and cash on hand at the end of the year of $ 13.7 million. Free cash flow for the year ahead is expected to remain strong, based on consistent margin performance and efficient operations. CFO Elias Mark reinforced that the business is built for cash generation:“ Our ability to convert adjusted EBITDA to free cash flow is incredible.”
To increase M & A capacity, the company expanded and extended its credit facility in early 2025 from $ 100 million to $ 165 million and extended the maturity date with a new syndicate of six lenders. As of early 2025, the company had drawn $ 87 million, mostly to fund the $ 70 million cash portion of the Odds Holdings deal. This leaves
“ When we think that the stock is completely mispriced and not showing signs of improving, we’ ll be happy to intervene”
ELIAS MARK, CFO, GAMBLING. COM GROUP
significant headroom for future strategic M & A.
Mark commented on the strategic intent:“ This gives us increased flexibility and headroom to continue to pursue both strategic acquisitions when the right opportunities arise and to optimise our capital structure in our pursuit of maximising shareholder value.”
While M & A remains a priority, the company also received lender approval to resume share repurchases:“ We’ ve gone back to the lending syndicate with a request to waive that provision [ restricting buybacks ]… and we have received consent for that.”
An existing $ 10 million share buyback authorisation remains active and buybacks will be used opportunistically:“ When we think that the stock is mispriced and not showing signs of improving, we’ ll be happy to intervene.”
This indicates a balanced capital allocation strategy: pursuing growth through M & A while preserving optionality to return capital to shareholders.
Importantly, 2025 financial guidance does not assume any new acquisitions.“ Our guidance does not include contributions from any new acquisitions or any new market launches.” This implies that any additional M & A activity in 2025 would represent upside to current projections.
“ We will continue to be smart and tactical about M & A and buybacks and be happy to intervene when the stock is completely mispriced,” said Gillespie.
OTHER TRENDS
In terms of AI, the group said that internal AI adoption is companywide and considered a key theme for 2025.“ It has increased our capacity and throughput … given us licence to be more ambitious.”
Meanwhile, organic search traffic is still growing; AI search referrals are emerging and proving highly valuable, it said:“ We are now getting traffic from these AI-powered experiences … these people are even more valuable than high-intent Google traffic.”
The other major trend is prediction markets, which GDC views as being likely to provide incremental TAM expansion.“ It’ s basically new competition,” Gillespie said.“ We are talking to all of them.
“ Our confidence in our near and long-term outlook has never been higher.”
April 2025