Jun. 28 at 3:24 PM
$GAMB article excerpt late May
Gambling.com (GAMB) is a high-margin, capital-light affiliate marketing company connecting online gaming operators with depositing users via a portfolio of 60+ websites, including Gambling.com, Bookies.com, and Casinos.com. Monetizing traffic through CPA (50% of revenue), revenue share, and hybrid models, the company earns 62% of its revenue from iGaming and social casinos, and 38% from sports betting.
With 94% gross margins, 38% EBITDA margins, and nearly 100% FCF conversion, GAMB trades at just 9x EPS and 5.5x EBITDA—levels that appear deeply discounted for a business with a clear path to
$100M in EBITDA. Tailwinds include a global iGaming market growing at 12% CAGR and only seven U.S. states having legalized online casinos, leaving ample room for expansion.
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