Edison Partners based in Princeton made a growth investment of $15.5 million in the Gambling.com Group. This is a component of the wider explosion in controlled online gambling and sports betting that has been witnessed over the past 12 months by the U.S. and specifically New Jersey.
For several reasons, this news is important:
- The arrangement is one of the most important agreements between a U.S. private equity fund and an internet gambling and sports betting performance marketing firm.
- It reflects the first investment and interest + support from Edison Partners in the United States ‘ new controlled sports betting and online gambling industry.
- It brings important momentum to the U.S. plans of the Gambling.com group, following a series of updates including state licensing deals, membership of AP Sports Editors, a fresh office in Charlotte, NC, and key management hires.
- It offers a excellent strategic partner for Gambling.com Group in the U.S. right in America’s fresh sports betting hub) and the runway required to take market share.
“We are thrilled to enter the online gaming market with our investment in Gambling.com Group,” said Chris Sugden, Managing Partner at Edison Partners. “The company will continue to monetise the large market opportunity in Europe while increasing investment in the U.S. Online gaming is expanding significantly as regulations are modified on a state-by-state basis.”
Since the invalidation of the Professional and Amateur Sports Protection Act (PASPA) in May 2018, the Group has implemented a thorough plan to be the leading performance marketing company in the controlled online gambling industry in the United States.
The Group’s flagship website Gambling.com is already active in New Jersey and Pennsylvania, and the Group is investing significant resources in Bookies.com to make it the leading source of data about sports betting in the U.S.
The Group has obtained permits to expand company dealings with casino operators in New Jersey, Pennsylvania and West Virginia, expanding its footprint with key management hires, a new office in Charlotte, North Carolina, and becoming the first sports betting media group to be recognised as members of the Associated Press Sports Editors (APSE).
“Attention to sports gambling in the U.S. is booming, and we are building out a robust content team, offering products to match that interest,” Gambling.com Group Director of North American Content Gerry Ahern said.
“On Bookies.com we are providing a real-time lens for sports fans that educates, entertains and informs them as they explore legal wagering options. On Gambling.com we are keeping the audience up to date with industry news and the latest in legislation as more states come online and more fans are served.”
Today, we have announced that Edison Partners is making a $15.5m investment in https://t.co/GxCxFvVSqG Group. With this strategic partner we will continue our plans to be the leading performance marketing company in American regulated online gambling. https://t.co/HXJglRWPS1 pic.twitter.com/fDZ5Gp0hQG
— Gambling.com Group (@gambling_group) September 5, 2019