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Gambling.com Group has confirmed the closing of a new $50m credit facility to fund potential growth opportunities.

Credit facilities are a type of pre-approved loan which allows the borrower to borrow money on an ongoing basis over an extended period of time.

In short, it saves companies from having to apply for a new loan every time they need access to capital.

Gambling.com Group has agreed the deal with Wells Fargo Bank.

The $50m loan is comprised of a $25m revolving credit facility and a $25m term loan facility.

The new credit facility matures on 19 March 2027 and may be increased by up to $10m, subject to approval by Wells Fargo.

The credit facility is expected to be used for general corporate purposes, to settle deferred consideration, and to fund potential growth opportunities.

Gambling.com Group CFO Elias Mark said: “We have 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,” he added.

Credit facility loans can also be used to fund M&A purchases.

The Nasdaq-listed affiliate marketing company generated $23.5m in revenue for Q3 2024, up 19% from the $19.6m reported in the prior corresponding period.

The US segment drove overall revenue growth, posting a 42% revenue increase to $12.9m, representing more than half (54.9%) of total group revenue.

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