Gambling.com Group gears up for IPO

Dublin-based affiliate marketing group Gambling.com has announced the launch of its IPO on the Nasdaq stock exchange and has publicly filed its F-1 registrations statement to the Securities and Exchange Commission (SEC).

While the number of shares to be offered and the price range for the proposed offering have not yet been determined, the Group says it will list its ordinary shares on the market under the symbol GAMB.

In a summary of its performance, Gambling.com identifies that it has achieved a "compound annual growth rate of 35 per cent from 2017 to 2020", generating $27.98 million (€23.47 million) in revenue during 2020.

Jefferies LLC is acting as lead book-running manager and representative of the underwriters, and Stifel and Truist Securities Inc will also be serving as book-running managers for the offering.

Gambling Group says it intends to use the net proceeds from the offer for general corporate purposes, including working capital, operating expenses and capital expenditures, as well as prospective strategic investments.

The SEC will now be charged with reviewing Gambling.com Group's financial information, management and corporate prospectus, to provide the regulatory approval of the firm's desired Nasdaq listing.

Describing itself in announcing the IPO, Gambling.com Group said it is "a multi-award winning performance marketing company and a leading provider of digital marketing services active exclusively yin the online gambling industry, based on 31st December revenue.

"As of 31st March, the Group has a workforce of more than 150 and operates from offices in Ireland, the Unites States and Malta. Through its proprietary technology platform, the Group publishes a portfolio of premier branded websites including Gambling.com and Bookies.com.

"Founded in 2006, the Group owns and operates more than 30 websites in six languages across 13 national markets covering all aspects of the online gambling industry, which includes iGaming and sports betting".