Gambling.com banks $50m credit facility to bolster balance sheets

The board of Gambling.com Group has announced that it has secured a new $50m credit facility backed by Wells Fargo Bank.

The credit facility will be used by the Nasdaq-listed igaming media company for “general corporate purposes, to settle deferred consideration, and to fund potential growth opportunities.”

Investors were informed that Wells Fargo will provide its $50m allotment in two tranches comprised of a $25 million revolving credit facility and a $25 million term loan facility.

Deal terms see the credit facility mature on March 19, 2027, and, subject to approval by Wells Fargo, may be incrementally increased by up to $10 million in aggregate.

Elias Mark, Group CFO of Gambling.com, commented, “We have established a track record of successful execution on our growth initiatives that are delivering consistently strong revenue, Adjusted EBITDA, and cash flow growth.

This new credit facility enhances our already strong balance sheet and liquidity, thereby providing additional financial flexibility as we pursue both organic and inorganic growth opportunities that can further scale the business and generate incremental value for our shareholders.”

Gambling.com will publish its full-year 2023 results tomorrow, Thursday, 21 March. In its pre-close statement, Gambling.com leadership had cited confidence in hitting the firm’s elevated year target of corporate revenues in the range of $100-$104m, combined with a raised adjusted EBITDA results of $36-$40m.