Publishing its Q2 interim report for the period January – June 2019, affiliate marketing provider Gambling.com has reported a boost in its revenues despite having to navigate a period of tough ‘regulatory headwinds’.
Gambling.com has detailed that its revenues for the period April-June amounted to €4.42m, compared to the €3.77m reported in the same period last year. The increase demonstrates an increase of 17 per cent, which Gambling.com explained was organic.
Revenues for January-June had also been boosted, with revenues totalling €9.67m, an increase of 34% from €7.22m reported in the same period last year – the organic growth rate was 33%.
CEO Charles Gillespie used the report to emphasise the group’s rapid US expansion following the repeal of Professional and Amateur Sports Protection Act (PASPA). He explained: “The group continues to invest in US product and marketing capabilities laying the foundation for the very significant US growth opportunities in the coming years. The group has opened a new US office in Charlotte, North Carolina which will be the main base of business operations as the US team scales.
“The Group also continues to invest in market expansion outside of the UK and US markets and has seen strong growth in other English-speaking markets as well as several European markets.
“Having rapidly scaled headcount during Q1 the operational focus in Q2 turned to process optimisation and development. During Q3 and Q4 we expect to deliver several internal technology projects that will have a material effect on the Group’s ability to continue growing organically.”
The interim report addressed a 22% rise in new depositing customers to 19,487 in the quarter, which Gambling.com attributes to being a driving force behind the boost net cash generated from operating activities from €870,000 to €1.62m.
