Gambling.com Group has officially announced a deal to acquire Odds Holdings Inc, the company behind [OddsJam](https://oddsjam.com/).
The agreement specifies an upfront payment of $80 million for the acquisition, with a possibility of an additional $80 million contingent upon the performance of Odds Holdings through 2026.
This acquisition follows a successful period for Gambling.com, highlighted by a 21% revenue increase to $91 million, a 91% rise in net income to $22.7 million, and a 30% boost in Adjusted EBITDA to $34 million.
Charles Gillespie, CEO of Gambling.com, commented, “The acquisition of Odds Holdings will quickly bring new, recurring revenue streams to our company, aligning with our strategy to broaden our presence in the online gambling sector.”
The acquisition is projected to immediately benefit Gambling.com’s financial performance and aid in reaching its goal of achieving $100 million in annual Adjusted EBITDA. Investors have been advised that for 2024, Odds Holdings is expected to produce $26 million in revenue and $12 million in Adjusted EBITDA. Gambling.com anticipates a growth of at least 20% in Adjusted EBITDA from Odds Holdings’ assets by 2025.
Following the acquisition, OddsJam’s founders Ankit Goyal and Alex Monahan, along with CEO Matt Restivo, will join Gambling.com. Utilizing Gambling.com’s resources and expertise, the focus will be on enhancing Odds Holdings’ advanced technology and expanding its reach worldwide.
Restivo remarked, “Joining a tech-centric leader like Gambling.com Group is a natural progression for Odds Holdings. By tapping into Gambling.com Group’s expertise and resources, we are in a prime position to advance our technology and data-driven insights to engage a larger audience of online bettors, extending beyond North America.”