Gambling.com Continues to Expand with Odds Holdings Acquisition

The fast-growing provider of digital marketing services to the global online gambling industry, Gambling.com Group, announced its plans to acquire OddsJam’s parent company Odds Holdings, Inc.

The Acquisition Is Expected to Close In 2025

On Thursday, the former company confirmed it entered into a definitive agreement to acquire Odds Holds in a deal that has a total value of up to $160 million. The total consideration breaks down to $80 million payable upon the closing of the acquisition, followed by up to an additional $80 million payment which would be contingent on the performance of Odds Holdings until the end of 2026.

Gambling.com confirmed that the initial $80 million purchase consideration consists of $10 million in ordinary company shares, as well as $70 million in cash. The global company will fund the cash payment under borrowings from its expanded credit facility.

The additional payment of up to $80 million will be contingent on Odds Holdings’ financial performance, including adjusted EBITDA. Per the agreement between the duo, Odds Holdings would need to “at least double for the full year 2026 period compared to 2024.”

Odds Holdings and Gambling.com are expected to close the acquisition on January 1, 2025. The deal remains subject to the relevant customary closing conditions. Once the transaction is completed, Odds Holdings’ team, including OddsJam founders, Alex Monahan, Ankit Goyal and CEO Matt Restivo will become a part of the Gambling.com Group.

Gambling.com Stays True to $100M Adjusted EBITDA Goal

The acquisition represents an important milestone for Gambling.com. This is because the company will further propel its footprint into the global gambling vertical while obtaining fresh revenue sources. In addition, Gambling.com will have the ability to leverage its existing customer relations and capitalize on new opportunities with Odds Holdings.

Besides additional revenue, the acquisition brings extra free cash flow streams and adjusted EBITDA. Ultimately, the takeover complements Gambling.com’s milestone goal to reach $100 million in annual adjusted EBITDA.

“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.“

Charles Gillespie, co-founder and CEO of Gambling.com Group

Charles Gillespie, Gambling.com Group’s co-founder and CEO, spoke about the importance of the acquisition of Odds Holdings. He pointed to the extra revenue and other benefits that will propel Gambling.com’s position in the global online gambling sector. Gillespie added that it is exciting to see Odds Holdings’ team join the company and contribute to its goal of achieving $100 million in adjusted EBITDA.