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Affiliate Monitor Executive summary
Unsettled
The gaming affiliate sector, particularly in Europe, is struggling with declining share prices, driven by factors including market corrections, poor strategic execution and external headwinds such as regulatory changes. Conversely, the Gambling. com Group-led North American market is displaying greater resilience and growth potential.
THE OUTLIER
Gambling. com Group delivered a record Q4 and full-year financial performance for 2024, with final quarter revenue rising 9 % to $ 35.3 million and adjusted EBITDA climbing 39 % to $ 14.7 million. For the full year, revenue grew by 17 % to $ 127.2 million while adjusted EBITDA rose 33 % to $ 48.7 million. The company’ s 2025 guidance targets revenue between $ 170 million and $ 174 million, representing a 35 % increase at midpoint.
GDC sees the acquisition of Odds Holdings as central to its growth strategy, anticipated to contribute $ 14.5 million in incremental EBITDA for 2025. This acquisition has also diversified revenue streams by introducing subscription-based models and SaaS sportsbook risk management solution OpticOdds, with expectations of a 20 % of revenue contribution.
EXECUTIVE SUMMARY outlook
It also enhanced its ability to continue strategically leveraging M & A to build a high-margin, recurring-revenue business by expanding its credit facility to $ 165 million.
THE REST
Better Collective faced substantial headwinds in Q4 2024, with regulatory challenges in Brazil, representing 20 % of revenue, leading to a projected EBITDA impact of € 35 million to € 50 million for 2025. Despite a 14 % YoY revenue increase for FY24, profitability was hindered by these structural changes.
The US remains an important growth market despite slowerthan-expected progress. BC is transitioning from CPA to revenue iGB Affiliate Monitor