Gambling.com Group, which provides digital marketing services to the online gambling industry, announced terms for its IPO on Monday.
The St. Helier, Jersey-based company plans to raise $90 million by offering 7.5 million shares (30% secondary) at a price range of $11 to $13. At the midpoint of the proposed range, Gambling.com Group would command a fully diluted market value of $435 million.
Gambling.com Group is a performance marketing company and a provider of digital marketing services active exclusively in the online gambling industry, with a principal focus on iGaming and sports betting. Through its proprietary technology platform, the company publishes a portfolio of branded websites including Gambling.com and Bookies.com. The company states that it can alternatively be described as a lead generation company or an affiliate marketing company. Gambling.com Group owns and operates 32 different websites in six languages across 13 national markets covering all aspects of the online gambling industry. The company referred over 100,000 players to online gambling operators in 2020, and has increased its customer base from 131 in 2017 to over 200 in 2020.
Gambling.com Group was founded in 2006 and booked $35 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol GAMB. Jefferies, Stifel, and Truist Securities are the joint bookrunners on the deal. It is expected to price during the week of July 19, 2021.
