Gambling.com secure $15.5M Investment From Edison Partners
Gambling.com Group Plc has secured a $15.5-million investment from private equity fund Edison Partners.
The Edison investment will be utilized for general corporate purposes “with a view to accelerating certain investments in the United States market,” according to a news release. Partner Gregg Michaelson will join the Gambling.com board of directors.
Edison, which manages $1.4 billion in assets, is based in New Jersey at the center of the rapidly expanding legal online sports betting market in the United States. In allying with Gambling.com Group , the company forms a partnership with one of the fastest-growing and most widely recognized performance marketers focused on that industry.
While Gambling.com’s primary focus has been European markets, a shift toward the American sector began even before the Supreme Court repeal of the Professional and Amateur Sports Protection Act in May 2018. That landmark legal decision, however, has empowered new growth opportunities in the United States and Gambling.com already has established business partnerships with gambling operators in New Jersey, Pennsylvania and West Virginia.
“We have been thoroughly impressed by Edison Partners’ depth of expertise, breadth of knowledge and professional network. We greatly look forward to bringing on Edison as our teammate in our new American journey,” Charles Gillespie, Chief Executive of Gambling.com Group, said. “Edison are the right partner at the right time, and I expect our collaboration to deliver powerful results.
“Their investment in the Group validates our thesis that we are the affiliate organization best positioned to benefit from the expansion of regulated online gambling in the United States.”