- Gambling.com is set to go public at an undisclosed date.
- The website functions by recommending sportsbooks to online gamblers.
- They claim to have seen 35% compounded annual growth in revenue from 2017-2020.
LAS VEGAS - Gambling.com, a website that recommends sportsbooks and casinos to readers, has revealed plans for an Initial Public Offering.
This reveal came in the form of, well, a form. Gambling.com’s Form F-1, filed with the Securities and Exchange Commission, noted their aims at an IPO at an undisclosed date.
This move would make Gambling.com a publicly traded company, listed on the Nasdaq stock exchange.
The company plans to adopt the ticker styling of GAMB, and is focusing on presenting itself as an internet media company.
The company takes great pains to distinguish itself from its subject matter, which can be controversial on the public market.
“We are not a gambling company and do not offer any gambling services ourselves,” states the Gambling.com form. “We can alternatively be described as a lead generation company, an affiliate marketing company, or simply an affiliate. Online gambling operators pay us to refer online gamblers to their services.”
Gambling.com’s revenue model relies on payments from online gambling operators in line with the amount of players delivered by their website.
With more and more states legalizing online sports betting, and looking at other online gambling legalization, a website like Gambling.com could be in prime position to expand.
Indeed, they claim to have seen a compound annual growth rate of 35% in terms of revenue from 2017 to 2020.
It’s worth noting that the Supreme Court decision that allowed for online sports betting at the state level occurred in 2018 with the repeal of PASPA.
Online sports betting seems to be going national, at the very least, and plenty of states have expanded gambling as well, although that lags behind.
Gambling.com seems like a company whose fortunes will rise and fall with the availability of the online gambling market, and that market is growing right now.