Gambling.com Group has secured a new $50m (£39.4m/€46.1m) credit facility comprising a revolving credit facility and a term loan facility.
The credit facility will be provided by Wells Fargo Bank in the principal amount of $50m with that broken down to $25m revolving credit and a $25m term loan. The credit facility matures on 19 March 2027 and may be increased by up to $10m in the aggregate subject to approval from the bank.
Gambling.com Group expects to use the credit facility for general corporate purposes, to settle deferred consideration and to fund potential growth opportunities.
Elias Mark, Gambling.com Group CFO said that the affiliate has “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.”
Gambling.com Group is expected to release its Q1 2024 results on 21 March.