Gambling.com Group secures fresh $50.0 million credit facility

Gambling.com Group declared the finalization of a novel credit facility valued at $50.0 million (£39.4 million/€46.1 million).

The deal encompasses a $25.0 million revolving credit facility alongside a $25.0 million term loan facility. The finance deal was negotiated with Wells Fargo Bank.

The novel credit facility is slated to mature on March 19, 2027. Subject to Wells Fargo's approval, it could potentially witness an increment of up to $10.0 million.

The group anticipates utilizing the credit for general corporate requirements and to resolve deferred considerations.

Additionally, it might aid in funding potential expansion opportunities.

"We have a history of executing growth strategies successfully, yielding robust revenue, Adjusted EBITDA, and cash flow growth," stated Elias Mark, Gambling.com Group's Chief Financial Officer.

"This fresh credit facility bolsters our already sturdy balance sheet and liquidity, furnishing further financial maneuverability as we pursue organic and inorganic growth endeavors to bolster our business and create extra value for shareholders."

The announcement of the fresh credit coincides with Gambling.com Group's impending publication of its yearly results. The group is set to unveil its 2023 figures tomorrow (March 21).

In its preceding results declaration, encapsulating Q3, Gambling.com Group surpassed revenue expectations, with Q3 revenue reaching $23.5 million, a 19% surge compared to Q3 2022.

Year-to-date figures covering the nine months ending in September demonstrate growth across multiple sectors.

Revenue rose by 38% to $76.1 million during the period, and a 30% surge is anticipated for the entire year.

Despite a decline in adjusted EBITDA during Q3, the group reiterated its anticipation of a 50% increase in this metric for 2023.

Adjusted EBITDA rose 52% to $26.1 million over the nine-month period.