igbaffiliate . com
Affiliate Monitor Gambling . com Q3 review
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GAMBLING . COM Q3 REVIEW
CHALLENGING
If Better Collective is the dominant player and Catena Media the fading force , then Gambling . com Group is vying with GiG to be the challengers to the current order of the listed gaming affiliate space .
This isn ’ t because it is yet reaching the earnings levels of the competition . Indeed , by revenue , as it stands it is currently sitting alongside Raketech .
But in terms of ambition , certainly in the US but also elsewhere , Gambling . com Group has pretensions to be fighting it out at the top table of listed affiliates .
A look at the revenue profile shows Gambling . com starting to make headway since its July 2021 listing in the US . While somewhat stuttering and suffering from the same seasonal and market opening factors evident with Catena Media , in particular , Gambling . com has seen a step up in revenues in 2022 .
The seasonal sporting and market opening factors were acknowledged by chief executive Charles Gillespie in his earnings call remarks . “ With our continued momentum and positive outlook , there is no change to our prior expectation that the North American sports calendar will drive growth for the balance of the fall and winter season ,” he told analysts .
Chart 13 : Gambling . com Group revenue Q420-Q322 ($ m )
$ m
11 10
9 8 7
6 5
4 3 2
1 0
2.6
6.4
3.1
6.9
3.2
7.8
2.9
8.3
Q420 Q121 Q221 Q321 Q421 Q122 Q222 Q322
Source : Company reports
ACCRETIVE
M & A has played a big part in the momentum with the $ 27.5m acquisition of US-facing Roto
Paid
Sports in January last year helping boost revenues significantly . While no specifics of Roto Sports ’ revenues were given at the time of the deal , the company said that by the third quarter North American revenues had risen threefold to $ 9.1m , or 46 % of total revenues .
“ In terms of ambition , Gambling . com Group has pretensions to be fighting it out at the top table of listed affiliates ”
3.6
Publishing
9.2
4.4
9.7
5
9.8
Also adding to the North
5.1
American mix is the addition of Bonusfinder . com . The business is very active in the Canadian market and came as part of the NDC acquisition , which could be worth , after earnouts , up to $ 47m .
On the earnings call , chief financial officer Elias Mark gave some detail with regard to the group ’ s NDCs tally which rose 152 % in the third quarter to 68,000 . This was led by North America although the company noted it also saw growth in the UK and Ireland , previously Gambling . com Group ’ s core markets .
“ We ’ ve seen very good execution in those markets ,” Gillespie told analysts .
PREMIUM NAMES
One aspect Gillespie was keen to emphasise was the company ’ s
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March 2023