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15
Chart 6 : Gambling . com Group revenue Q222-Q124 ($ m )
35
30
25
20
15
10
5
0
15.9
19.6
21.3
Q222 Q322 Q422 Q123 Q223 Q323 Q423 Q124
Chart 7 : Gambling . com Group adjusted EBITDA Q222-Q124 ($ m )
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11 10 9 8 7 6 5 4 3 2 1 0
3.6
6.4
6.9
26.7
10.7
Q222 Q322 Q422 Q123 Q223 Q323 Q423 Q124
26
9.4
23.5
6
32.5
10.6
29.2
10.2
““ Gambling is digitising . The revenue of online gambling has exceeded the revenue of landbased gambling in many markets throughout the world , where it has been regulated for some time ”
CHARLES GILLESPIE , GAMBLING . COM GROUP
Source : company reports
the year is now forecast to come in at between $ 118m- $ 122m . This represents a drop at midpoint of $ 11m from the previous estimate , but Gillespie said the company remains convinced of the longterm story .
“ Gambling is digitising ,” he told analysts on the Q1 earnings call . “ The revenue of online gambling has exceeded the revenue of landbased gambling in many markets throughout the world , where it has been regulated for some time .
“ In certain cases , online gambling is over 90 % of the total gambling market . This trend for igaming still has a very long way to go in the US , the world ’ s largest casino market , where the percentage in 2023 was only 10 %.”
The other major wave that Gambling . com Group is riding , he suggested , was the “ ongoing digital revolution in advertising ”.
He said : “ Whereas marketers were previously blind , now they can see , due to the clean and clear attribution available from all digital channels .”
Claiming GDC sits at the confluence of these two trends , Gillespie stressed it would be able to capitalise via its portfolio of “ indomitable brands ” like Gambling . com , RotoWire . com and
June 2024