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Gambling.com Group (GAMB) has revised its terms with Wells Fargo Bank to extend its available credit facility to $165m.
Wells Fargo has allowed the Nasdaq-listed media group to increase its credit facility from its existing base of $100m to a new threshold of $165m.
The transaction provides Gambling.com with access to funding via a $90m revolving credit tranche, combined with a $75m loan facility.
Dealmakers have applied a maturity date of 28 February 2028 for both facilities. Additionally, the amendment raises the uncommitted incremental facilities cap from $10 million to $50 million.
The statement detailed that Gambling.com seeks financial flexibility to target growth and tech initiatives.
Elias Mark, CFO of Gambling.com, explained: “Expanding our credit facility to $165 million and securing a syndicate of lenders strengthens our financial position and enhances our ability to execute growth initiatives.
This increased flexibility supports our organic expansion and strategic acquisition initiatives, allowing us to scale efficiently, optimise our capital structure, and drive continued value creation for our shareholders.”
Gambling.com maintains that it will declare its “best-in-year-in-business” for 2024 trading in which it achieved the elevated targets of achieving FY2024 revenues of $127m and an adjusted EBITDA of over $48m.
This February, leadership introduced an early 2025 guidance for group revenues to stand at the range of $170m-to-$174m and adjusted EBITDA of $67m-to-$69m.
As part of its expansion strategy, Gambling.com acquired the new technology and intelligence assets of Odds Holding for $160m in December 2024. The acquisition was funded through a mix of cash, shares, and the company’s previous $100 million credit facility with Wells Fargo.
Odds Holding is the operating company behind OddsJam, a technology asset that Gambling.com plans to leverage for greater returns from North American media contracts.
The new technology assets will further enhance Gambling.com’s media network, which includes Gambling.com, Bookies.com, Casinos.com, RotoWire.com, and over 50 websites in 10+ languages across 19 national markets.
Gambling.com will report its 2024 fourth-quarter and full-year results on March 20, h
