Gambling.com Group has announced its plan to acquire Odds Holdings, the parent company of OddsJam, a technology platform specializing in real-time odds data. This move is set to expand Gambling.com Group’s reach and revenue streams in the online gambling industry.
- Gambling.com Group will pay $80 million upfront and up to another $80 million by 2026. Payments depend on Odds Holdings doubling its Adjusted EBITDA from 2024 levels. The deal includes $70 million in cash and $10 million in Gambling.com shares, funded by a newly expanded credit facility.
- Odds Holdings operates a platform processing over 1 million requests per second. It manages multiple terabytes of data daily across nearly 300 sportsbooks. This ensures low-latency data delivery, essential for enterprise clients and consumers making real-time sports bets.
- The acquisition adds recurring revenue streams from both consumer subscriptions and enterprise partnerships. OddsJam, its flagship brand, will integrate into Gambling.com’s operations, expanding its user base and boosting customer engagement.
- For 2024, Odds Holdings projects revenues of $26 million with an Adjusted EBITDA of $12 million. Gambling.com expects to increase these figures by at least 20% in 2025, leveraging its expertise in scaling acquisitions.
- The leadership team of Odds Holdings, including founders Ankit Goyal and Alex Monahan, will join Gambling.com Group. Their roles will focus on driving technology innovation and expanding OddsJam’s reach beyond North America.
- Gambling.com’s CEO, Charles Gillespie, stated that the deal aligns with their goal of achieving $100 million in annual Adjusted EBITDA. This acquisition builds on previous ones with companies like RotoWire and Freebets.com, enhancing its financial performance.
- The transaction will be finalized by January 1, 2025, pending customary approvals. It will immediately contribute to Gambling.com Group’s revenue and free cash flow.
- To fund the deal, Gambling.com has secured a $100 million credit facility through Wells Fargo. This provides flexibility to manage both upfront and contingent payments, ensuring the transaction’s financial feasibility.