Gambling.com Reveals Plans for US Initial Public Supplying
Posted on: June 26, 2021, 02:23h.
Final updated on: June 26, 2021, 02:23h.
Gambling.com, a provider of net websites that enable bettors to evaluate online casinos and sportsbooks, filed for a US initial public supplying (IPO).
In a recent Kind F-1 filing with the Securities and Exchange Commission (SEC), the firm reveals plans to list shares on the Nasdaq Stock Marketplace beneath the symbol “GAMB.” The regulatory document does not include a listing date or offering size. Investment banks Jefferies, Stifel and Truist are managing the transaction.
The firm does not supply wagering solutions and generates sales by directing gamblers to regulated on the internet betting websites.
We are not a gambling firm and do not provide any gambling services ourselves,” according to the F-1 filing. “We can alternatively be described as a lead generation business, an affiliate marketing company or merely an affiliate. On-line gambling operators spend us to refer on the internet gamblers to their solutions.”
Gambling.com compares itself to an on-line media business, noting that the main supply of its income is web marketing and advertising
Gambling.com Financials
Gaming equities, particularly those with committed online exposure, have been common with investors. Nonetheless, some names in the space are getting broadly criticized for rushing IPOs to market and for lack of profitability.
Like its already public brethren, Gambling.com will be viewed as an emerging development stock and its revenue is indeed soaring. The firm was also net earnings positive in 2020 soon after losing $1.90 million in 2019. Moreover, it’s cash flow constructive. That is a rarity among modest, young net businesses and it could be an alluring trait for investors. Gambling.com generated $two.28 million and $10.80 million in totally free money flow in the previous two calendar years.
“We had revenues of $11.00 million, $19.00 million, $19.27 million and $27.98 million in 2017, 2018, 2019 and 2020, respectively. We achieved a revenue compound annual growth rate of 35 % from the period of 2017 to 2020,” according to the F-1.
The business added that on a worldwide basis, none of its competitors — a group such as Better Collective and Catena Media — have more than five percent market place shares, indicating there’s substantial growth possible.
Sports Betting, iGaming IPO Activity Nonetheless Hot
With some analysts forecasting the North American on the internet casinos and sports wagering market could reach $42 billion by 2030, it is not surprising IPO activity in the internet gaming space remains brisk.
Just this week, a social casino developer came to marketplace whilst a Spanish iGaming and sports betting operator said it’s merging with a blank-check firm to list its shares in the US.
For its component, Gambling.com is eschewing the unique goal acquisition business (SPAC) route that so numerous upstart gaming companies embraced since early 2020. That could prove to be wise because shares of numerous recently de-SPACed iGaming and on the web sportsbook operators are slumping.