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Princeton-based Edison Partners has made a $15.5 million growth investment in Gambling.com Group. This is part of the broader explosion happening in regulated online gambling and sports betting that the U.S. and specifically New Jersey has experienced over the last 12 months.
This news is significant for several reasons:
- The agreement represents one of the most significant deals between a U.S. private equity fund and a performance marketing company focused on online gambling and sports betting.
- It represents Edison Partners’ first investment and show of interest + support in the new regulated sports betting and online gambling market in the United States.
- It adds significant momentum to Gambling.com Group’s U.S. plans, on the heels of a string of updates including state license deals, AP Sports Editors membership, a new office in Charlotte, NC, and key management hires.
- It provides Gambling.com Group with a great strategic partner in the U.S. right in the new hub of sports betting in America) and the runway needed 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 monetize 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.”
The Group has been executing a comprehensive plan to be the leading performance marketing company within the regulated online gambling sector in the United States since before the invalidation of the Professional and Amateur Sports Protection Act (PASPA) in May 2018. The Group’s flagship website Gambling.com is already active in New Jersey and Pennsylvania, and the Group is investing substantial resources in Bookies.com to make it the pre-eminent source of sports betting information in the United States. The Group has secured licenses to expand business deals with gambling operators in New Jersey, Pennsylvania and West Virginia and has broadened its footprint with key management hires, a new office in Charlotte, North Carolina, and by becoming the first sports betting media group to be accepted 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.”
- Chris Costigan, Gambling911.com Publisher
