In a groundbreaking announcement, Gambling.com, one of the leading providers of iGaming information and comparison services, has raised its 2024 forecast following a record-breaking quarter.
The company reported a staggering 65% increase in revenue for the first quarter of 2023, far exceeding expectations and setting a new standard for growth in the industry. This unprecedented success has prompted Gambling.com to revise its revenue forecast for 2024, projecting an even larger increase than previously anticipated.
According to Charles Gillespie, CEO of Gambling.com Group, the company’s performance in the first quarter of 2023 was driven by strong growth in both the US and European markets. The US in particular has been a major source of growth for the company, with revenue increasing by over 80% compared to the same period last year.
“We are incredibly excited about the momentum we are seeing in the US market,” said Gillespie. “The legalization of sports betting in several states has created a huge opportunity for growth, and we are well positioned to capitalize on this trend.”
In addition to the US market, Gambling.com has also seen significant growth in Europe, where revenue increased by 50% in the first quarter of 2023. This success has been driven by the company’s strong relationships with leading iGaming operators and continued investment in technological innovation.
“We have made significant investments in our technology and infrastructure to ensure that we are able to provide the best possible service to our customers,” said Gillespie. “This investment is paying off, as we continue to see strong growth in both our US and European operations.”
Looking ahead to 2024, Gambling.com is confident that its strong performance will continue, with the company raising its revenue forecast for the year to reflect this optimism. The company now expects revenue to grow by at least 50% in 2024, with the potential for even greater growth if current trends continue.
“We are incredibly excited about the future of Gambling.com and the opportunities that lie ahead,” said Gillespie. “Our strong performance in the first quarter of 2023 has given us the confidence to raise our forecast for 2024, and we are committed to continuing our growth and expansion in the years to come.”
Overall, Gambling.com’s impressive performance in the first quarter of 2023 and its revised forecast for 2024 signal a bright future for the company and the iGaming industry as a whole. With its strong position in both the US and European markets, Gambling.com is well positioned to capitalize on the growing demand for iGaming services and continue its rapid growth in the years to come.