Gambling.com Group announced today that it has completed the previously announced acquisition of Freebets.com and related assets.

The company anticipates these assets will generate revenue of approximately $10m and incremental adjusted EBITDA of approximately $5m over the balance of 2024.

Charles Gillespie, CEO and co-founder of Gambling.com Group, commented: “While expansion of gambling in the US grabs all the headlines these days, many of the industry’s most attractive markets remain in Europe, the historical home of the industry.

“I expect this acquisition to fundamentally change the balance of power within the European online gambling affiliate market and provide Gambling.com Group with a clear path to drive further growth in both our existing European markets as well as new ones.

“As part of the transaction, we are gaining a number of new colleagues in the region. I look forward to sharing our leading technology platform and high performance culture with our new team members.”

The company acquired Freebets.com and the related assets for total consideration of between $37.5m and $42.5m, consisting of $20m  that was paid on the closing, with an additional $10m to be paid on the six-month anniversary of closing and between $7.5m and $12.5m to be paid on the one-year anniversary of the closing subject to the revenue performance of the assets during the remainder of 2024.