Gambling.com Group Secures $50 Million Credit Facility with Wells Fargo

Gambling.com Group has closed a new credit facility with Wells Fargo Bank, providing $50 million for general corporate purposes, deferred consideration, and potential growth opportunities.

Gambling.com Group Secures $50 Million Credit Facility with Wells Fargo

Gambling.com Group Limited, a leading provider of player acquisition services for the regulated global online gambling industry, has announced the closing of a new credit facility with Wells Fargo Bank, National Association. The credit facility, totaling $50 million, consists of a $25 million revolving credit facility and a $25 million term loan facility. The facility is expected to be used for general corporate purposes, settling deferred consideration, and funding potential growth opportunities.

Gambling.com Group Secures $50 Million Credit Facility with Wells Fargo - 1851483644

( Credit to: Finance )

The new credit facility, which matures on March 19, 2027, provides Gambling.com Group with additional financial flexibility as it continues to pursue organic and inorganic growth opportunities. The company has a track record of successful execution on its growth initiatives, delivering strong revenue, Adjusted EBITDA, and cash flow growth.

Elias Mark, the Chief Financial Officer of Gambling.com Group, expressed his confidence in the company’s ability to generate incremental value for shareholders. The new credit facility enhances the company’s already strong balance sheet and liquidity, allowing for further scaling of the business.

The interest rate on the credit facility is based on different factors, including the Base Rate, Term SOFR Rate, Eurocurrency Rate, and Daily Simple RFR Rate, each with an applicable margin. This flexible structure allows Gambling.com Group to optimize its borrowing costs based on prevailing market conditions.

About Gambling.com Group Limited

Gambling.com Group Limited, listed on Nasdaq under the ticker symbol GAMB, is a multi-award-winning performance marketing company operating in the online gambling industry. With offices globally, the company publishes a portfolio of premier branded websites, including Gambling.com, Bookies.com, Casinos.com, and RotoWire.com. It owns and operates more than 50 websites across 15 national markets, covering various aspects of the online gambling industry, such as iGaming, sports betting, and fantasy sports.

Enhanced Financial Flexibility for Growth Strategies

The new credit facility with Wells Fargo Bank strengthens Gambling.com Group’s position in the industry and provides the necessary financial resources to support its growth strategies. The company remains focused on delivering value to its shareholders while expanding its presence in the global online gambling market.

Optimized Borrowing Costs

The interest rate on the credit facility is based on different factors, including the Base Rate, Term SOFR Rate, Eurocurrency Rate, and Daily Simple RFR Rate, each with an applicable margin. This flexible structure allows Gambling.com Group to optimize its borrowing costs based on prevailing market conditions.

Conclusion

Gambling.com Group’s new credit facility with Wells Fargo Bank provides the company with enhanced financial flexibility and resources to support its growth strategies in the online gambling industry. With a strong track record of successful execution and a portfolio of premier branded websites, Gambling.com Group is well-positioned to capitalize on the global online gambling market. The company’s focus on delivering value to shareholders while expanding its presence sets the stage for continued growth and success.

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