Gambling.com, an iconic online casino and a betting portal, announced that it would sell its 5.25 million shares with $13 and not the former $11. This comes after updating its initial public offering. Gambling.com is optimistic about making $63 from the sale. The company plans on listing the shares on Nasdaq Stock Market, trading as GAMB. Gambling .com publishes content in Europe and North America. Unlike other betting sites, gambling.com doesn’t offer betting services and products but acts as an affiliate marketer. Its income stream comes from referring consumers of its content to wagering sites.
While updating its records with the Securities and Exchange Commission, Gambling.com filed in Form F-1 that, “We generate revenue by referring online gamblers to online gambling operators. When an online gambler visits an online gambling operator from one of our websites, registers a new account, and makes a deposit, this online gambler becomes one of our referred players.” It continued to explain, “Each of our referred players entitles us to remuneration pursuant to our agreements with the online gambling operator. Our agreements are primarily based on a revenue share model, a Cost per Acquisition model (also referred to as CPA), or a combination of both.”
Growing Company Revenue
There are 32 websites hosted by gambling.com, covering 13 countries. The company specializes in iGaming and sports wagering. The regulatory filing confirms that “We had revenues of $11.00 million, $19.00 million, $19.27 million, and $27.98 million in 2017, 2018, 2019 and 2020, respectively. We achieved a revenue compound annual growth rate of 35 percent from the period of 2017 to 2020,”
The popularity of gambling .com is rising from every corner. The internet casino and online sportsbook are in use in many homes through desktop and responsive mobile applications as well we working on desktops, tablets, and mobile phones. Gambling.com is a renowned and trusted authority to link to trusted gaming sites.
Ambitious for Growth
Gambling.com has an ambitious attitude to more growth. The company hopes to reach out to all the 50-states to sign off on both activities. This reach out will result in $43 billion in online sports revenue. The company said in a press statement, “We assume that at market maturity, 65 percent of the legal U.S. population will have access to online legal sports betting, and 30 percent will have access to legal iGaming” It also said that “Applying these estimates to the market at 100 percent legalization implies online sports betting and iGaming market sizes of $17 billion and $13 billion at maturity, for a combined U.S. online gambling market size at maturity of approximately $30 billion.”
Gambling.com seeks more money through the IPO kitty in the effect of supporting the investment as a whole. The company will improve the cover and working capital expenses. The company seeks to establish essential investments which will benefit the growth of the company.Gambling.com has grown immensely over the last few years. The mother company chooses to go for the IPO funding owing to gambling.com’s swift growth. In 2019 the total revenues were around $ 9 million to $28 million in 2020.
The same financial year recorded high expenses going up by almost $2 million on administrative. The company registered financial expenses from 2.1 million to 2.5 million. The company recorded more than twice in income. From $140,000 to $303, 000. The operating costs grew by over ten times. 2019 had $1.4 million, and 2020 had $11 million.
2019 was a pretty harsh year, with the gambling company closing books with a $1.4 million net loss. The income has skyrocketed to $15.2 million this year, and even more Gambling.com Group revenues will grow in the future. The initial public offerings will bring even high revenues.
Last Updated on by Ryan