A strategic acquisition has led to the Gambling.com Group making a “forceful move” into the sports betting vertical, via the purchase of Bookies.com and related assets.
The firm details a purchase price of an upfront payment of £2m paid as a cash consideration in conjunction with the transfer of the assets, as well as a deferred compensation of £4.5m, which is payable over a period of one year.
In addition to Bookies.com, the transaction also includes the Bookmakers.co.uk and FootballScores.com websites, as well as 76 sports betting and casino related domain names.
Also acquired are premium undeveloped domains such as bookmakers.com and bookies.co.uk, with it detailed that the assets drive almost all of their revenue from the regulated United Kingdom sports betting market.
Charles Gillespie, Gambling.com Group Plc Chief Executive, says: “This is both the largest and most exciting acquisition we have done since we began acquiring in 2017.
“These websites perfectly complement our existing portfolio in terms of both increasing our sports betting market share and continuing with our focus on big brands and big domains.”
Gillespie also spoke on the pending Christie v NCAA case and the potential decision of the United States Supreme Court: “Should Governor Chris Christie triumph at the Supreme Court and strike down the federal ban on sports-betting, Gambling.com Group stands ready with the strongest domain portfolio of any performance marketing company for the American sports betting market.”
In its statement Gambling.com states that the acquired assets generates sales of in excess of £600,000 during the final three months of 2017.
As well stating an expectation to operate with a pre-tax profit margin of more than 80% going forward.