The prestigious Russell 3000 Index measures the performance of around 97% of the publicly listed companies in the US. The index that benchmarks the entire stock market is now getting ready to accept Nasdaq-listed Gambling.com Group Limited to its select family. The leading supplier of player acquisition services for the international iGaming market will be included on the prestigious list on June 27. The date marks the end of the yearly reconstitution of the index, as well as the official date for the opening of the US market.
The Inclusion Will Be Valid for One Year
The group’s inclusion in the Russell indexes will be effective for one year, allowing the provider to continue its impressively fast growth in the country triggered by the launch of its stock on the Nasdaq stock exchange in July 2021.
The group’s chief executive officer Charles Gillespie commented on the news of the inclusion, calling it “a great honor.” He added that by being a part of the important index, the group will benefit from added visibility in the equity capital market in the US.
Why Is the Russell 3000 Index Important?
For starters, the Gambling.com Group’s inclusion in the Russell 3000 Index means joining thousands of other popular companies including Zoominfo, a subscription software company, or dating app Bumble. Plus, the group, which is also the pioneer online gambling affiliate to ever be traded publicly in the country, will attract extra liquidity and more investor awareness for the entirety of the inclusion.
The company’s shares will also be added to the corresponding growth and value indexes at the end of the yearly reconstitution of the indexes. The reconstitution features 4,000 of the largest stocks in the US as of May 6, ranked by their total market capitalization. By gaining membership in this prestigious index, the group will therefore be included in the large-cap Russell 1000 Index or the small-cap Russell 2000 Index.
The Financial Times Stock Exchange (FTSE) Russell establishes membership for all Russell indexes by style attributes, objectives, and the rankings of companies’ market capitalization. The preliminary market capitalization published by FTSE Russell on May 6 shows that Gambling.com is expected to be included in the Russell 2000, Russell 2500, Russell 3000, Russell 3000E, and Russell Microcap basic indexes, along with other growth and value style indexes. FTSE Russell, which is owned by the London Stock Exchange Group, is responsible for determining thousands of indices in over 70 markets that cover 98% of the international investment market.
Gambling.com Group was established in 2006 and received several awards recognizing its marketing performances and leading digital marketing solutions over the years. Currently, the group, which reported a 70% increase in its global revenue for the first quarter of 2022, has offices opened in the US, Malta, and Ireland. At the beginning of June, the group owned and managed over 50 websites available in seven languages spread across 15 domestic iGaming, sports betting, and fantasy sports markets.
The FTSE Russel index has been in use for more than three decades, helping asset owners and managers, and investment banks benchmark the performance of their investments.