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17
Chart 7 : Gambling . com Group revenue Q321-Q223 (€ m )
30
25
20
15
10
5
0
Chart 8 : Gambling . com Group adjusted EBITDA Q321-Q223 (€ m )
12 11 10 9 8 7 6 5 4 3 2 1 0
10.1 10.3
19.6
15.9
Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223
3.5 2.3
7.2
3.6
Q321 Q421 Q122 Q222 Q322 Q422 Q123 Q223
19.6
6.4
21.3
6.9
26.7
10.7
26
9.4 bucket the operators into Tier 1 , Tier 2 or Tier 3 based on market share , it ’ s the Tier 2 and Tier 3 operators which are most keen to work with us ,” he said .
“ They ’ re the ones that are willing to invest not only the money but the time to put campaigns together that perform that have high conversion rates . They ’ ve got more incentive to make the affiliate channel work than the big guys who are already market leaders .”
Still , Gillespie did note the moves being made by new entrants into the space , in particular Fanatics and the imminent launch ( or relaunch ) of ESPN Bet from Penn National .
“ Everybody ’ s been waiting on ESPN to do something since 2018 , and finally they have ,” he told analysts . “ In general , it ’ s really positive because it ’ s the worldwide leader . It ’ s the biggest name in sports in the United States . So , now that they ’ ve done something , it kind of further destigmatises the industry .”
He added that this was “ another very meaningful step in the right direction for the industry going fully mainstream ”. “ ESPN with Penn , they ’ re going to have to spend a lot of money acquiring customers , as any new operator would , especially an operator that ’ s set such high expectations for themselves . So , clearly , this means more demand for affiliate services .”
But from Gambling . com Group ’ s perspective , Gillespie noted it was
October 2023