Gambling.com to acquire Freebets.com for consideration of $37.5M-$42.5M

Gambling.com also announced that it will expand its presence across the United Kingdom and other European markets through a definitive agreement to acquire Freebets.com and related assets. Closing is expected at the beginning of April, subject to customary closing conditions. Gambling.com Group anticipates that these assets will produce revenue of approximately $10M and incremental adjusted EBITDA of approximately $5M during the nine months from April to December. The company will acquire these assets for a total consideration of between $37.5M and $42.5M, consisting of $20M paid on closing, $10M paid on the six-month anniversary of closing and between $7.5M and $12.5M to be paid on the one-year anniversary of the closing subject to the revenue performance of the assets during the remainder of 2024. Gambling.com Group expects to fund the purchase price from existing cash on hand, borrowings under the recently announced credit facility and future cash flow.