Gambling.com has moved to significantly strengthen its global footprint through an agreement to purchase Odds Holdings Inc, the parent company of OddsJam.
The group detailed that there was “an initial consideration of $80 million offered for the acquisition, with the potential for an additional $80 million based on Odds Holdings’.
It’s a deal that is anticipated to close on 1 January 2025, subject to customary conditions, and will serve to bolster Gambling.com’s financial performance.
Following Q3, Gambling.com announced it delivered its best performance to date, with Nasdaq-listed media group reporting a 21% increase in revenue to $91m, a 91% surge in net income to $22.7m, and a 30% growth in Adjusted EBITDA to $34m.
Gambling.com CEO Charles Gillespie emphasised: “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.”
Gambling.com will integrate the technology of Odds Holdings, which is built for scalability and capable of processing over one million requests per second while managing multiple terabytes of data daily. Its flagship brand, OddsJam, delivers premium, real-time odds data for sports bettors while also providing enterprise clients with low-latency, comprehensive odds data solutions for a variety of use cases.
Post-acquisition, OddsJam founders Ankit Goyal and Alex Monahan, along with CEO Matt Restivo, will join Gambling.com. By leveraging Gambling.com’s resources and expertise, the integration aims to scale Odds Holdings’ advanced technology and expand its reach to a broader global audience.
Matt Restivo added: “Combining with a tech-focused leader in the global online gambling industry like Gambling.com Group is the natural next step for Odds Holdings. By leveraging Gambling.com Group’s expertise, innovation and resources, we will be optimally positioned to scale our technology and data-driven insights to reach an even larger audience of online bettors, including beyond the North American market.”
