The deal was executed as planned and marks a new milestone for the company's expansion efforts.
Key points:
- Gambling.com Group has completed the acquisition of Odds Holdings for up to $160m
- The deal boosts Gambling.com Group’s offerings with real-time odds data technology and recurring revenue streams
- Odds Holdings projects $26m in revenue in 2024, with expected growth of at least 20% in 2025
Gambling.com Group has successfully completed its acquisition of Odds Holdings, the parent company of OddsJam.
The transaction, announced back in 2024, represents an expansion of Gambling.com Group's market presence. The acquisition is valued at up to $160m, combining an initial purchase price of $80m with potential additional payments of up to $80m based on performance through 2026.
The company is expected to generate $26m in revenue and $12m in adjusted EBITDA for 2024, with projected growth of at least 20% under Gambling.com Group's management in 2025.
The Odds Holdings team – including founders Ankit Goyal and Alex Monahan, along with CEO Matt Restivo – will join Gambling.com Group as part of the transaction.
The integration of OddsJam's technology is hoped to strengthen Gambling.com Group's market presence and contribute immediately to the company's financial performance.
Good to know: The deal is financed through a combination of cash, shares and an expanded $100m credit facility from Wells Fargo
Gambling.com Group CEO Charles Gillespie highlighted the value of the acquisition, stating: “The accretive acquisition of Odds Holdings will immediately provide Gambling.com Group with additional, recurring revenue streams which are independent of our market-leading online gambling affiliate business, consistent with our strategy to expand our footprint in the online gambling industry.
“We are delighted to welcome the Odds Holdings team to Gambling.com Group as we accelerate growth towards our goal of $100m in adjusted EBITDA. Their talented team has not only built a state-of-the art odds technology platform, but managed to build multiple distinct products on top of that platform which have very clear product-market fit.
“Odds Holdings gives Gambling.com Group a suite of new enterprise products while OddsJam in particular brings a passionate and energetic new consumer audience to the Group.”
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