Affiliate business Gambling.com Group expects revenue for 2021 to grow as high as $42.5m (£31.4m/€37.2m), after a year of expansion across the US.
The affiliate giant expects revenue to fall between $42.1m and $42.5m for the year ended 31 December 2021, the upper end of which would represent a 51.8% increase 2020’s $28.0m figure.
This, the business said, was driven by growth in North America, with revenue for the region expected to increase by 90% year-on-year.
This growth was aided by the group’s expansion across a number of states. It went live in Colorado, Illinois, Tennessee, Virginia and Michigan to expand its reach beyond its existing markets of New Jersey, Pennsylvania and West Virginia.
Last month, Gambling.com Group also secured approval to go live in the newly regulated New York online sports betting market.
FY21 also saw Gambling.com Group list on the Nasdaq Global Market, with an initial public offering (IPO) of 5,250,000 ordinary shares at a price of $8.00 each launching in July 2021.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the full year is likely to come in between $18.2m and $18.7m, while net profit for the year is set range from $12.4m to $13.1m.
Gambling.com Group also provided an update on its performance so far in 2022, saying that revenue performance in January was “healthy in Europe and particularly strong in North America”, with the latter helped by its launch in New York.
Revenue for January is forecast to be the best single-month performance in the group’s 15-year history, even before consolidating revenue from RotoWire.com, which was acquired on 1 January.
Gambling.com Group expanded its business further last week after completing the purchase of NDC Media, the publisher of BonusFinder.com.
“The year is off to an incredibly strong start,” Gambling.com Group chief executive Charles Gillespie (pictured above) said. “It is great to see our investments at the end of 2021 start to pay off and help drive strong growth, despite a particularly challenging comparable period in the first quarter of 2021 coinciding with Covid-19 related measures.”
Looking to the full year ahead, current estimates suggest revenue in 2022 will amount to between $71.0m and $76.0m, while adjusted EBTIDA could reach $22.0m to $27.0m.
“I am delighted with the strength in our underlying business, even before consolidating revenue from RotoWire in January and BonusFinder from February,” Gillespie said. “We continue to invest in the business and expect to deliver another year of strong organic revenue growth complemented with additional revenue from the recent acquisitions.
“Great acquisitions, the launch of sports betting in states like New York and Louisiana, the expected launch of a regulated market in Ontario, and the debut of our media partnership with McClatchy together give me confidence that 2022 will be another brilliant year for Gambling.com Group.”
Gambling.com Group plans to publish its full results for the fourth quarter of 2021 and the full 2021 fiscal year in early March.
