Gambling.com Group, a NASDAQ-listed, globally-esteemed iGaming brand, has acquired Odds Holdings, the parent company of the leading OddsJam.
This acquisition highlights Gambling.com Group’s recent expansion on a global scale with the purpose of bolstering its already strong market presence in a transaction that was announced in 2024.
By integrating OddsJam’s cutting-edge technology, Gambling.com Group expects to strengthen its market presence and, more importantly, immediately improve the Group’s financial performance.
The total value of the acquisition sits at $160 million, and this includes both the initial purchase price of $80 million as well as potential add-on payments of up to $80 million based on future performance until 2026.
OddsJam is expected to generate a revenue of $26 million plus an additional $12 million in adjusted EBITDA for 2024 alone, with a further projected growth of 20% and more under the management of the Group during 2025.
*Interesting fact: The acquisition is financed via a combination of shares, cash, and an expanded credit of $100 million from Wells Fargo.
As part of the acquisition, the Gambling.com Group will not make major changes in the upper-management echelon, with Founders Ankit Goyal and Alex Monahan, as well as CEO Matt Restivo joining the Gambling.com Group.
Charles Gillespie, CEO of Gambling.com Group, expressed optimism regarding the value of this lucrative acquisition:
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 online gambling.
Moreover, Gillespie further praised OddsJam’s team and commended them for creating a “state-of-the-art odds technology platform” and for diversifying several “distinct products”.
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 also managed to build multiple distinct products on top of that platform which have very clear product-market fit.
