In a strategic move to solidify its presence in the European online gambling affiliate market, Gambling.com Group Limited (Nasdaq: GAMB) announced the successful acquisition of Freebets.com and its related assets. This acquisition is poised to significantly impact the balance of power within the European online gambling sector, marking a pivotal moment for the company.
Charles Gillespie, the Chief Executive Officer and Co-Founder of Gambling.com Group, expressed enthusiasm about the acquisition, highlighting the importance of the European market in the global online gambling industry. Gillespie believes this move will significantly enhance the company's position in Europe and foster further growth. The acquisition also brings new team members into the Gambling.com Group family, promising a blend of technology and high-performance culture.
The acquisition deal is structured with a total consideration ranging between $37.5 million and $42.5 million. An immediate payment of $20.0 million was made upon closing, with subsequent payments scheduled over the next year based on the revenue performance of the acquired assets.
Founded in 2006, Gambling.com Group Limited is a renowned performance marketing company within the online gambling industry. With its proprietary technology platform, the Group operates globally, primarily in the United States and Ireland. It owns and manages over 50 websites across 15 national markets, offering comprehensive coverage of the online gambling industry, including iGaming, sports betting, and the fantasy sports industry.
This acquisition marks a significant milestone in Gambling.com Group's mission to expand its market reach and solidify its position as a leader in the global online gambling affiliate market. With a clear focus on growth and market expansion, the company is well-positioned to leverage its newly acquired assets and drive further success in the European online gambling sector.
