Gambling.com Group set to acquire Odds Holdings
The affiliate has submitted an $80m takeover bid, which may rise based on the acquiree’s 2025/26 performance.
Key Points
- Gambling.com Group has launched a successful bid to acquire Odds Holdings
- Stockholders are set to receive an initial consideration of $80m
- This figure may rise by an additional $80m, based on Odds Holdings performance
Gambling.com Group has entered into an agreement to take over Odds Holdings, with the latter’s stockholders set to receive an initial consideration of $80m, which could double, based on Odds Holdings’ future performance.
Indeed, the exact figure of the takeover bid is set to change, subject to Odds Holdings’ business performance between now and the end of 2026. An agreement for a base fee of $80m, however, has been reached.
Subject to various routine M&A closing conditions, this acquisition is set to close on January 1 2025, upon which date Gambling.com will also inherit Odds Holdings’ subsidiary organisation, OddsJam. Further, this deal will see members of the Odds Holdings team, including Co-Founders Ankit Goyal and Alex Monahan as well as CEO, Matt Restivo, join the Gambling.com Group team.
Currently, Odds Holdings is forecast to post a FY 2024 revenue figure of $26m, paired with a projected EBITDA of $12m.
Speaking on the motivations behind this latest move, Gambling.com Group Co-Founder and CEO Charles Gillespie, said, “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.
Good to know: Last month, Gambling.com Group posted its Q3 2024 results, highlighting a revenue rise of 70% year-over-year
“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.”
Also commenting was Odds Holdings CEO, Matt Restivo, who 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.”
This sentiment was echoed by Co-Founders Ankit Goyal and Alex Monahan, who said, “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.
“We’re looking forward to working with the Gambling.com Group founders Charles and Kevin and their team to create a deeper connection with our customers to enhance their online gambling experiences.”
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