Gambling.com Group Secures New $50 Million Credit Facility

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03/19/2024 - 04:05 PM

CHARLOTTE, N.C.--(BUSINESS WIRE)-- Gambling.com Group Limited (Nasdaq: GAMB) (“Gambling.com Group” or the “Company”), a leading provider of player acquisition services for the regulated global online gambling industry, today announced the closing of a new credit facility (the “Credit Facility”) with Wells Fargo Bank, National Association (“Wells Fargo”) in the principal amount of $50 million, comprised of a $25 million revolving credit facility and a $25 million term loan facility.

The new Credit Facility matures on March 19, 2027, and, subject to approval by Wells Fargo, may be incrementally increased by up to $10 million in the aggregate. The credit facility is expected to be used for general corporate purposes, to settle deferred consideration, and to fund potential growth opportunities.

Elias Mark, Chief Financial Officer of Gambling.com Group, 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.”

The interest rate on the Credit Facility is as follows:

Base Rate Loans: (i) the highest of (a) Prime Rate, (b) Federal Funds Rate plus 0.50%, and (c) Adjusted Term SOFR for one-month tenor plus 1.00%, (ii) plus an applicable margin of 2.50% per annum (the “Applicable Margin”)
Term SOFR Loans: SOFR Rate plus 0.10%, plus the Applicable Margin
Eurocurrency Rate Loans: Adjusted Eurocurrency Rate, plus the Applicable Margin
Daily Simple RFR Loans: Adjusted Daily Simple RFR rate, plus the Applicable Margin

About Gambling.com Group Limited
Gambling.com Group Limited (Nasdaq: GAMB) (the "Group") is a multi-award-winning performance marketing company and a leading provider of digital marketing services active in the online gambling industry. Founded in 2006, the Group has offices globally, primarily operating in the United States and Ireland. Through its proprietary technology platform, the Group publishes a portfolio of premier branded websites including Gambling.com, Bookies.com, Casinos.com and RotoWire.com. Gambling.com Group owns and operates more than 50 websites in seven languages across 15 national markets covering all aspects of the online gambling industry, including iGaming and sports betting, and the fantasy sports industry.