Gambling.com Group increases credit facility to $165m
The agreement consists of a revolving credit facility of $90m and a term loan facility of $75m while extending the maturity date of both facilities to February 28, 2028.
Key Points
- Wells Fargo Securities, Axos Bank and Silicon Valley Bank acted as joint lead arrangers in connection with the amendment
- Gambling.com Group CFO Elias Mark stated the credit facility increase “strengthens” the company’s financial position and “enhances” its ability to execute growth initiatives
Gambling.com Group has entered into an amendment for its existing credit facility with Wells Fargo Bank, expanding its total available credit from $100m to $165m for more efficient expansion and acquisition initiatives.
“Expanding our credit facility to $165m and securing a syndicate of lenders strengthens our financial position and enhances our ability to execute on growth initiatives,” Gambling.com Group CFO Elias Mark said.
“This increased flexibility supports our organic expansion and strategic acquisition initiatives, allowing us to scale efficiently, optimize our capital structure and drive continued value creation for our shareholders.”
The amendment consists of a revolving credit facility of $90m and a term loan facility of $75m, “syndicates the credit facility” across multiple lenders and extends the maturity date of both facilities to February 28, 2028.
Wells Fargo Securities, Axos Bank and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company, acted as joint lead arrangers in connection with the amendment.
Good to know: Gambling.com Group completed its previously announced acquisition of Odds Holdings on January 2, which will help to expand the company’s footprint and strengthen market position
On February 19, Gambling.com Group unveiled its preliminary Q4 & FY2024 financial statistics, highlighting an 8% revenue rise year-over-year to $35.2m during Q4 alongside a FY24 revenue of $127.1m.
During the fourth quarter of 2024, Gambling.com Group’s revenue rose by 8% from the $32.5m generated from the prior year period, with net income also increasing by 19.7% year-over-year to $7.8m.
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