The Bookies.com acquisition is a forceful move into the sports betting vertical for Gambling.com Group Plc, whose focus has historically been online casino
The transaction also includes the websites Bookmakers.co.uk and FootballScores.com along with 76 sports betting and casino related domain names. The acquired domain names include premium, undeveloped domains such as: bookmakers.com and bookies.co.uk. The assets drive almost all of their revenue from the largest, regulated, online sports betting market in the world, the United Kingdom.
The acquired assets generated sales of over GBP 600,000 during the last three months of 2017. The Group expects to operate the assets with a pre-tax profit margin of more than 80% going forward. The acquisition was closed on February 28th, 2018 and will be consolidated from February 1st, 2018.
The purchase price amounts to an upfront payment of GBP 2.0 million, which was paid as a cash consideration in conjunction with the transfer of the assets. In addition, there is deferred compensation of GBP 4.5 million payable over a period of one year.
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.”
Regarding the pending United States Supreme Court decision in Christie v. NCAA, Gillespie added “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.”