The transaction, initially announced in 2024, is valued at up to $160 million, consisting of an $80 million upfront payment and potential performance-based earnouts of up to $80 million through 2026.
Gambling.com Group has finalised its acquisition of Odds Holdings, the parent company of OddsJam, in a strategic move aimed at strengthening its market position and diversifying its revenue streams. The transaction, initially announced in 2024, is valued at up to $160 million, consisting of an $80 million upfront payment and potential performance-based earnouts of up to $80 million through 2026.
The acquisition marks a significant milestone for Gambling.com Group, expanding its footprint within the online gambling sector. Odds Holdings is expected to contribute $26 million in revenue and $12 million in adjusted EBITDA for 2024, with projections indicating at least 20% growth under Gambling.com Group’s management in 2025. These financial projections underline the potential for the acquisition to drive substantial growth for the company.
The deal also integrates OddsJam’s advanced technology and product portfolio into Gambling.com Group’s existing operations. This integration is anticipated to immediately enhance the Group’s financial performance and reinforce its position as a leader in the industry.
As part of the transaction, key members of the Odds Holdings leadership team, including founders Ankit Goyal and Alex Monahan, along with CEO Matt Restivo, will join Gambling.com Group. Their expertise and innovation are expected to play a pivotal role in the company’s future development.
The addition of OddsJam brings new enterprise products to Gambling.com Group’s offerings and introduces a passionate and engaged consumer audience. This aligns with the Group’s strategy to diversify its business beyond its core affiliate operations, paving the way for sustained growth and innovation.
Financing the iGaming Deal
The acquisition is financed through a combination of cash, equity, and an expanded $100 million credit facility from Wells Fargo. This diversified financing approach ensures the Group maintains financial flexibility while pursuing its growth objectives.
Gambling.com Group CEO Charles Gillespie emphasised the importance of the acquisition in achieving the company’s strategic goals, 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.”
The acquisition underscores Gambling.com Group’s commitment to strategic growth and diversification. The integration of OddsJam’s cutting-edge technology not only enhances the Group’s operational capabilities but also broadens its reach within the online gambling market.
The addition of recurring revenue streams from Odds Holdings complements Gambling.com Group’s existing affiliate business, creating a more resilient and robust business model. This strategic alignment positions the Group to deliver sustained value to its stakeholders while advancing its goal of achieving $100 million in adjusted EBITDA.