Gambling.com Group has successfully completed the acquisition of OddsJam's parent company, Odds Holdings.
This transaction represents an expansion of Gambling.com Group's market influence. The acquisition is valued at up to $160 million, including an initial purchase price of $80 million and up to an additional $80 million in payments based on 2026 performance.
The company anticipates revenues of $26 million in 2024, with an adjusted EBITDA of $12 million, and expects a growth rate of at least 20% in 2025 under the management of Gambling.com Group.
As part of the deal, the Odds Holdings team (including founders Ankit Goyal and Alex Monahan as well as CEO Matt Restivo) will join Gambling.com Group.
The integration of OddsJam technology is expected to enhance Gambling.com Group's market influence and make a direct contribution to the company's financial performance.
It is worth noting that the financing of this transaction includes cash, stock, and a $100 million expanded credit facility provided by Wells Fargo.
Charles Gillespie, CEO of Gambling.com Group, emphasized the value of this acquisition, stating: "The accretive acquisition of Odds Holdings will immediately provide Gambling.com Group with additional recurring revenue streams, independent of our market-leading online gambling affiliate business, aligning with our strategy to expand our influence in the online gambling industry.
"We are excited to welcome the Odds Holdings team to Gambling.com Group as we accelerate growth towards our target of $100 million adjusted EBITDA. Their talented team has not only built the most advanced odds technology platform but has also managed to create a variety of unique products with very clear product-market fit on this platform.
"Odds Holdings brings a range of new enterprise products to Gambling.com Group, while OddsJam introduces a passionate and energetic new consumer audience to the group."
