24/7 Market News Snapshot 12 December, 2024 – Gambling.com Group Limited Ordinary Shares (NASDAQ:GAMB)

December 12, 2024

DENVER, Colo., 12 December, 2024 (247marketnews.com) – (NASDAQ:GAMB) are discussed in this article.
Gambling.com Group Limited (GAMB) is currently experiencing notable investor interest, reflected in its significant stock performance. After opening at $14.68, the share price surged to approximately $14.765, marking an impressive increase of about 11.27% from the previous closing price of $13.27. The stock’s strong trading activity, evidenced by a volume of 518.64K shares, supports a positive market sentiment. Analysts indicate that key resistance levels may emerge around $15.00, while support can be identified near the prior close, suggesting ongoing volatility that investors should watch closely.

In addition to its robust stock performance, Gambling.com Group has announced a strategic move to enhance its market position by acquiring Odds Holdings, Inc., the parent company of OddsJam, for an initial sum of $80 million, with the potential to reach an additional $80 million based on performance metrics through the end of 2026. This acquisition is poised to diversify Gambling.com’s revenue streams beyond its affiliate business and significantly bolster its capabilities in the online gambling sector.

Odds Holdings offers a state-of-the-art technology platform that provides real-time odds data for sports betting, which is expected to generate approximately $26 million in revenue and $12 million in Adjusted EBITDA for the fiscal year 2024. Under Gambling.com’s management, an anticipated growth of at least 20% in Adjusted EBITDA from these assets is expected by 2025.

Charles Gillespie, CEO of Gambling.com Group, articulated the strategic importance of this acquisition, emphasizing its role in advancing the company’s objective of achieving $100 million in annual Adjusted EBITDA. The integration of the Odds Holdings team is expected to further amplify Gambling.com Group’s innovation and technological prowess within the evolving online gambling landscape. The transaction is projected to finalize on January 1, 2025, contingent upon customary conditions.

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