Gambling.com Reveals Plans for US Initial Public Offering
Posted on: June 26, 2021, 02:23h.
Final updated on: June 26, 2021, 02:23h.
Gambling.com, a provider of net internet sites that permit bettors to compare online casinos and sportsbooks, filed for a US initial public providing (IPO).
In a recent Type F-1 filing with the Securities and Exchange Commission (SEC), the company reveals plans to list shares on the Nasdaq Stock Marketplace under the symbol “GAMB.” The regulatory document does not include a listing date or supplying size. Investment banks Jefferies, Stifel and Truist are managing the transaction.
The company does not offer wagering solutions and generates sales by directing gamblers to regulated online betting internet sites.
We are not a gambling organization and do not provide any gambling services ourselves,” according to the F-1 filing. “We can alternatively be described as a lead generation company, an affiliate marketing and advertising firm or simply an affiliate. On the internet gambling operators pay us to refer online gamblers to their services.”
Gambling.com compares itself to an on-line media company, noting that the major source of its income is world wide web advertising
Gaming equities, especially those with committed on the internet exposure, have been well-known with investors. However, some names in the space are becoming broadly criticized for rushing IPOs to market place and for lack of profitability.
Like its currently public brethren, Gambling.com will be viewed as an emerging growth stock and its income is certainly soaring. The organization was also net earnings constructive in 2020 following losing $1.90 million in 2019. Furthermore, it’s money flow positive. That is a rarity amongst small, young internet companies and it could be an alluring trait for investors. Gambling.com generated $two.28 million and $ten.80 million in free of charge cash 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 income compound annual development rate of 35 % from the period of 2017 to 2020,” according to the F-1.
The firm added that on a worldwide basis, none of its competitors — a group including Better Collective and Catena Media — have far more than 5 % market shares, indicating there’s considerable growth prospective.
Sports Betting, iGaming IPO Activity Nevertheless Hot
With some analysts forecasting the North American on the web casinos and sports wagering industry could reach $42 billion by 2030, it is not surprising IPO activity in the web gaming space remains brisk.
Just this week, a social casino developer came to marketplace whilst a Spanish iGaming and sports betting operator said it is merging with a blank-check business to list its shares in the US.
For its element, Gambling.com is eschewing the special purpose acquisition company (SPAC) route that so several upstart gaming companies embraced since early 2020. That could prove to be smart due to the fact shares of numerous lately de-SPACed iGaming and on the internet sportsbook operators are slumping.