April 3, 2024 Group Acquires, Eyeing European Market Expansion

Ethan Moore
Written byEthan MooreWriter
Researched byMatteo BianchiResearcher

In a strategic move to solidify its presence in the European online gambling affiliate market, Group Limited (Nasdaq: GAMB) announced the successful acquisition of and its related assets. This acquisition is poised to significantly impact the balance of power within the European online gambling sector, marking a pivotal moment for the company. Group Acquires, Eyeing European Market Expansion

Key Takeaways:

  • Strategic Acquisition: Group solidifies its European market presence with the acquisition of
  • Financial Impact: The new assets are expected to generate approximately $10.0 million in revenue and $5.0 million in incremental Adjusted EBITDA over the balance of 2024.
  • Market Expansion: The acquisition aims to drive growth in existing European markets and tap into new ones.

Charles Gillespie, the Chief Executive Officer and Co-Founder of Group, expressed enthusiasm about the acquisition, highlighting the importance of the European market in the global online gambling industry. Gillespie believes this move will significantly enhance the company's position in Europe and foster further growth. The acquisition also brings new team members into the Group family, promising a blend of technology and high-performance culture.

The acquisition deal is structured with a total consideration ranging between $37.5 million and $42.5 million. An immediate payment of $20.0 million was made upon closing, with subsequent payments scheduled over the next year based on the revenue performance of the acquired assets.

About Group Limited

Founded in 2006, Group Limited is a renowned performance marketing company within the online gambling industry. With its proprietary technology platform, the Group operates globally, primarily in the United States and Ireland. It owns and manages over 50 websites across 15 national markets, offering comprehensive coverage of the online gambling industry, including iGaming, sports betting, and the fantasy sports industry.

This acquisition marks a significant milestone in Group's mission to expand its market reach and solidify its position as a leader in the global online gambling affiliate market. With a clear focus on growth and market expansion, the company is well-positioned to leverage its newly acquired assets and drive further success in the European online gambling sector.

About the author
Ethan Moore
Ethan Moore

Ethan "BetMaster" Moore, born amidst the pulsating energy of London, combines a sharp analytical mind with the excitement of sports. As the chief writer for BettingRanker, he offers a unique blend of stats, strategies, and stories, making the world of sports betting both accessible and thrilling.

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