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17 build a business which has highly predictable revenue . And therefore , prioritising M & A from the perspective of businesses which have highly predictable revenue is a priority .”
Asked about what size of deal the company was considering , Gillespie noted it was “ the same amount of work ” to complete a $ 20m acquisition as a $ 100m one .
“ The $ 100m companies tend to have better management , a deeper bench of talent , more sophisticated financial process , better organised , cleaner forecasting ,” he said . “ So why not just do the $ 100m deal ?”
He noted the group has a new $ 50m facility with Wells Fargo and said it would be “ possible to range additional debt beyond that $ 50m with Wells if we had a clear use of proceeds ”.
“ Prioritising M & A from the perspective of businesses which have highly predictable revenue is a priority ”
CHARLES GILLESPIE , GAMBLING . COM GROUP
On the latest acquisition , the aforementioned Freebets , Gillespie said the integration to date had gone to plan .
“ It remains super early for this new chapter for these assets , but we have more confidence than we have ever had that we will be able to realise substantially improved operating performance for these websites in the medium and long term ,” he said .
Gillespie noted that the rationale for the deal was that towards the end of last year , the company had recognised that growth in the US was due to moderate because of the lack of big state launches and said the company had taken the strategic decision to look at assets ex-North America .
“ These assets monetise some of the most evergreen and consistent online gambling markets in the world ,” he said . “ So we are confident that this deal has dramatically improved our competitive positioning and given us better market share in some of the world ’ s most desirable online gambling markets .”
June 2024